Uranium Energy (UEC) Corporate presentation summary

Market environment and industry trends

• Uranium prices remain well below previous highs, with fundamentals favoring significant price appreciation as demand outpaces primary production by a wide margin, creating a persistent supply gap projected to widen through 2040.

• U.S. demand for uranium is the largest globally, with nearly half of its supply previously sourced from Russia, Kazakhstan, and Uzbekistan.

• The U.S. government has enacted a ban on Russian uranium imports and allocated $3.4 billion to boost domestic uranium fuel production, signaling strong bipartisan support for nuclear energy and domestic supply chains.

• Nuclear energy is increasingly recognized as essential for meeting growing electricity demand, especially from data centers and AI, and is positioned as a key solution for 24/7 green baseload power.

• Global policy momentum is driving a tripling of nuclear capacity by 2050, with major expansions planned in the U.S., China, India, and Europe.

Corporate strategy and operations

• Production is set to restart in Wyoming in August 2024, with two central processing plants in Wyoming and Texas, and a fully unhedged production strategy for maximum spot market exposure.

• The company has executed approximately $900 million in accretive acquisitions, resulting in a threefold increase in total resources and a fourfold increase in production capacity.

• The portfolio includes the largest, fully permitted, low-cost ISR projects in the U.S., with a strong balance sheet, $303.3 million in cash and liquid assets, and no debt.

• Strategic partnerships and government contracts, including a memorandum of understanding with TerraPower and a U.S. Department of Energy award, reinforce the company's role in reestablishing domestic uranium supply chains.

• The company maintains a disciplined growth strategy, acquiring assets at low points in the uranium cycle and building a significant physical uranium inventory at favorable prices.

Resource base and project pipeline

• Total resources stand at 332.7 million lbs U3O8 (230.0 M&I / 102.7 Inferred), making it one of the largest and most diversified portfolios in North America.

• The Wyoming and Texas hub-and-spoke ISR portfolios are fully permitted, with licensed production capacities of 2.5–4 million lbs/year each, and multiple satellite projects ready for development.

• The Burke Hollow ISR project in Texas is the newest and largest ISR wellfield under development in the U.S., with recent drilling significantly increasing measured and indicated resources.

• Canadian assets include the high-grade Roughrider project (acquired from Rio Tinto), Christie Lake, and joint ventures with Cameco and Orano, providing significant future growth opportunities.

• The company also holds advanced-stage projects in Paraguay, including a world-class titanium project with strong economic metrics and low carbon intensity.