Energy Fuels' Strategic Advantages for REE Production

Market Position - Uranium North American Space as of December 28, 20231 MEDICAL VANADIUM ISOTOPES RECYCLING ☑ ☑ ☑ COMPANY MARKET CAP WORKING CAPITAL (US$M) (US$M) (US$M) 2023 NET INCOME/(LOSS) URANIUM INVENTORY (M LBS.) URANIUM RARE EARTHS Cameco $18,632 $2,015 $2802 7.5 NexGen Energy $3,576 $2652 ($47)² ☑ Uranium Energy Corp $2,531 $434 ($7) 0.24 Х Х Х Denison Mines $1,493 $602 $56 2.5 ✓ ✓ ef ENERGY FUELS $1,165 $163 $120 1.05 enCore Energy $615 $186 x ($7) × ✗ Fission Uranium $612 $362 × ($6) Ur-Energy $396 $55 ($25) 0.2 ☑ Х Х ☑ ✓ ☑ × 10 1 This chart reflects the most recent publicly available information; Energy Fuels' information is disclosed in its Form 10-Q for the quarter ended September 30, 2023 2 Cdn$ US$0.756 3 Au$ US$0.683 4 Announced additional purchases of 1.7 million lbs. uranium on the open market with deliveries to occur during 2023 2026 for an average price of $42.24 per pound. 5 Includes 586,000 lbs. of finished U3Og inventory, plus 409,000 lbs. of work-in-progress and raw materials. 6 At Sep. 30, 2023, enCore owed Energy Fuels $36M in a convertible note. Subsequent to the quarter end, enCore repaid a portion of the note to Energy Fuels, and Energy Fuels sold the remaining principle balance to a 3rd party

View entire presentation