Diversifying into the REE Industry

Commitment to ESG Additional Uranium Production Through Recycling Our business practices address key ESG issues: Uranium Rare Earths Vanadium The fuel for zero-carbon baseload nuclear energy Critical for many clean energy technologies such as EVs, renewable energy, batteries & national defense High strength steel & other alloys; key for baseload renewable power via grid-scale batteries Medical Isotopes Developing domestic supply chain for emerging cancer treatments now in human trials Recycling Promote sustainable supply by recycling materials that contain natural uranium Energy Fuels produces up to an additional 500,000 pounds of low-cost U3O8 per year from our recycling programs¹ 1 Quantities vary by year (range from 0 pounds to 500,000+ pounds per year); costs vary and depend on specific nature of the transaction and material. 22 22

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