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Investor Presentaiton

LAUNCHING RARE EARTH SUPPLY CHAINS HIGHLY CAPITAL EFFICIENT PLAN USING EXISTING FACILITIES • Short-Term Business Plan (Now): U.S.-E.U Supply Chain • ● Energy Fuels is currently purchasing natural monazite sand being produced at an existing HMS operation owned by The Chemours Company in Georgia (USA) (NYSE:CC) Seeking to purchase additional monazite supply – proposed acquisition of large project in Brazil . Producing an REE carbonate at our existing White Mesa Mill in Utah . Performing partial separation of lanthanum (La) using existing mill infrastructure · Delivering REE carbonate to existing separation facility owned by Neo Performance Materials in Europe (TSX: NEO) Long-Term Business Plan (2023/4): U.S.-Centric Supply Chain Develop fully-integrated REE separation & value-added REE capabilities at White Mesa Mill: • Capture full value of rare earth supply chain • Collaboration with Carester SAS; extensive experience producing separated REE products from monazite using solvent extraction (SX) Collaboration with Nanoscale Powders ("NSP") to potentially develop low-cost, low-impact REE metal-making technologies White Mesa Mill has a 40+ year history of recovering uranium & vanadium using SX technology 13
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