Uranium Energy (UEC) Acquisition presentation summary

Strategic rationale and industry context

• Acquisition expands U.S. uranium production capacity and consolidates a leading position in Wyoming, enhancing flexibility for both ISR and conventional mining.

• Transaction leverages industry tailwinds, including rising global nuclear demand, U.S. policy support, and supply deficits driven by geopolitical factors.

• U.S. remains the largest uranium consumer, with new legislation and funding accelerating domestic supply and nuclear deployment.

Transaction details and funding

• Agreement to acquire 100% of Rio Tinto's Wyoming assets, including the Sweetwater Plant and uranium projects, for $175 million in cash.

• Fully funded from available cash and liquid assets, with closing expected in Q4 2024, subject to customary conditions.

• Post-closing, $25 million in surety bonds will be arranged for future reclamation obligations.

Asset overview and operational synergies

• Sweetwater Plant is a 3,000 tpd acid leach mill with 4.1 Mlbs U3O8 annual licensed capacity, maintained since 1983 and adaptable for ISR processing.

• Acquired portfolio includes ~53,000 acres of highly prospective land and ~175 million pounds of historic uranium resources, with significant ISR potential.

• Sweetwater and Green Mountain projects offer substantial exploration upside, with historic resources and extensive geological data.