Investor Presentaiton

Declining secondary supply 92 U YELLOW CAKE PLC Secondary supply is expected to decline by 4% p.a. until 2033 due to decreases of available excess enrichment capacity Secondary uranium supplies, 2013-2033 (Mlbs. U308) (1) 60 50 40 40 30 20 10 (9)% p.a. (4)% p.a. HEU ■Tails Re-Enrichment / Underfeeding ■MOX/RepU 2013 2017 2021 2025 2029 2033 Source: 1. Minespans (December 2022) 25

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