Investor Presentaiton

150 125 ФР 106.00 100 75 15 50 START OF A URANIUM BULL MARKET? URANIUM SPOT PRICE Uranium spot price has increased from $50/lb to $106/lb in the last year (at $100/lb, 30 Jan 2024) Difference between this cycle and the last cycle - supply deficit 10 years of under-investment in uranium exploration and development - result is looming supply shortfall Supply side issues - i.e. Niger Coup, reduction in Cameco Supply, Kazatomprom? Uranium (USD/Lbs) 106.0000 2004 2008 2012 2016 2020 2024 1Y 5Y 10Y 25Y All Figure: Uranium Spot Price Chart 22 January 2024 3 92Energy.com 25 92 Energy

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