Ur-Energy (URG) Corporate presentation summary

Operational overview

• Two licensed ISR uranium production sites in Wyoming, with Lost Creek in operation since 2013 and Shirley Basin set for early 2026 startup.

• Lost Creek has produced over 3M lbs U3O8, with a 13-year mine life and scalable capacity up to 2.2M lbs annually.

• Shirley Basin is fully permitted, construction nearly complete, and will double production capacity with 1M lbs annual mine capacity.

• Both sites use in situ recovery (ISR), minimizing environmental impact and capital intensity.

• Additional exploration projects and resource expansion underway at Lost Soldier and North Hadsell.

Financial and sales highlights

• Completed $120M convertible financing in December 2025, with $35.4M cash as of October 2025.

• Eight long-term uranium sales agreements totaling 5.7M lbs through 2033, with upside exposure to market pricing.

• Contracts cover about 45% of licensed and constructed capacity through 2033, leaving room for additional agreements.

• Market cap of $631M and 375.8M shares outstanding as of September 2025.

Market environment and growth drivers

• Global nuclear demand is rising, with 438 reactors operating, 71 under construction, and a widening uranium supply/demand gap.

• U.S. nuclear provides ~20% of electricity and >50% of carbon-free power; utilities are returning to long-term contracting.

• Geopolitical risks impact supply, with Russia and Kazakhstan controlling significant portions of global uranium and enrichment.

• U.S. legislation and bipartisan support are boosting domestic nuclear energy and uranium demand.