Ur-Energy (URG) Corporate presentation summary

Operational overview

• Lost Creek ISR facility has a 13-year mine life, 1.2M lbs/year mine capacity, and 2.2M lbs/year plant capacity, with all-in costs of $55/lb and an NPV (8%) of $244.1M and IRR of 65.7%.

• Shirley Basin ISR facility holds 8.8M lbs measured & indicated resources at 0.23% grade, a 9-year mine life, 1.0M lbs/year capacity, and all-in costs of ~$50/lb, with NPV (8%) of $83M and IRR of 69%.

• Combined measured & indicated resources for Lost Creek and Shirley Basin total 21.0M lbs, with 10.4M lbs inferred.

• Lost Creek has produced nearly 3.5M lbs since 2013, with royalty burden averaging less than 1% across six contiguous project areas.

• In situ recovery (ISR) mining is used, minimizing land disturbance and environmental impact.

Sales agreements and market positioning

• Eight uranium sales agreements cover 5.75M lbs U3O8 through 2033, with a mix of fixed and market-related pricing.

• 1.3M lbs contracted for delivery in 2026; contracts cover ~45% of licensed and constructed capacity through 2033.

• Market-linked pricing provides upside exposure, with 23% of base commitments tied to market pricing and up to 30% with full flex volumes.

• Steady flow of RFPs from utilities and ongoing ramp-up to commercial production.

• Shirley Basin construction is advancing, expected to double constructed capacity.

Growth pipeline and exploration

• Development pipeline includes Lost Soldier and North Hadsell projects, with technical studies and exploration drilling underway.

• Lost Soldier is 17 miles from Lost Creek, offering potential capital-efficient development.

• North Hadsell drilling indicates multiple mineralized horizons with grades comparable to Lost Creek.

• LC South 120-hole exploration drill program planned for summer 2026 to expand Lost Creek resources.

• Adjacent mineralization can be pipelined into the Lost Creek plant, supporting resource growth.