Investor Presentaiton

MARKET DEMAND GLOBAL REACTOR GROWTH & URANIUM DEMAND • • Global nuclear generation capacity will increase 70% over the next decade from 374,067MWe to 636,693MWe 71 reactors under construction & 173 new reactors planned Annual uranium demand will increase from 177mlbs to 280mlbs by 2020, representing a 58% increase Additional 390mlbs will be needed for new initial cores • 71 UNDER CONSTRUCTION Generation Capacity: 74,886 MWe Annual Uranium Demand: 13,000 tonnes U 434 • OPERABLE REACTORS DECEMBER 2013 Generation Capacity: 374,067 MWe Annual Uranium Demand: 64,978 tonnes U 20 173 • . PLANNED REACTORS Generation Capacity: 187,740 MWe Annual Uranium Demand: 32,600 tonnes U

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