Uranium Energy (UEC) Corporate presentation summary

Market environment and uranium fundamentals

• Uranium prices have rebounded to over $80/lb, still below previous highs, with strong fundamentals supporting further appreciation.

• Global reactor demand for uranium significantly exceeds primary production, with a 2024 gap of 42 million lbs and a cumulative gap projected to surpass 1 billion lbs by 2040.

• U.S. utilities are the largest uranium consumers, with 42% of 2023 purchases sourced from Russia, Kazakhstan, and Uzbekistan.

• The U.S. has enacted a ban on Russian uranium imports and allocated $3.4 billion to boost domestic uranium fuel production.

Production, assets, and growth strategy

• Production has restarted in Wyoming as of August 2024, with fully permitted projects in Texas and Wyoming and a combined licensed capacity of 8.5 million lbs U3O8 per year.

• The company holds the largest diversified uranium resource base in North America, with 230 million lbs measured & indicated and 102.7 million lbs inferred resources.

• Strategic acquisitions, including Uranium One Americas and Rio Tinto's Roughrider Project, have expanded resources and doubled U.S. production capacity.

• The Texas hub-and-spoke ISR portfolio includes the rapidly advancing Burke Hollow project, now the largest ISR wellfield under development in the U.S.

Financial position and physical uranium portfolio

• Cash and liquid assets total $303.3 million with no debt, and 1,166,000 lbs of physical uranium inventory on hand as of April 2024.

• Spot market uranium sales in FY2023 generated record revenue of $163.95 million and gross profits of $49.6 million.

• The company is 100% unhedged, providing full exposure to spot market price movements.