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Investor Presentaiton

Cash, Securities & Inventory¹ Lbs. uranium inventory¹ FINANCIAL STRENGTH + FLEXIBILITY $135M 692,000 At today's commodity prices, our inventory is worth significantly more Value on Books ($/Lb)¹ Current Price % Up/ ($/Lb)4 (Down) U₂O8 $23.79 $50.00 +110% 1,397,000 V₂O5 $5.36 $10.75 +101% Lbs. vanadium inventory¹ 2022 Guidance 100,000 - 120,000 lbs. of uranium production 800,000 lbs. of uranium inventory at year end Approx. 650 - 1,000 tonnes of mixed REE carbonate production containing approx. 300 - 450 tonnes of TREO Market Position $4.32 - $11.39 6.3 million shares Share Price (May 17, 2022) 2 $6.52 52-Week Range² Average Daily Volume³ Shares Outstanding5 Market Cap Zero Debt 157.6 million $1.03 billion ¹ As of the period ended March 31, 2022 2 NYSE American 3 NYSE American + TSX; 3-month average Yahoo Finance 4 As of May 13, 2022 5 As of May 16, 2022 23 eF ENERGY FUELS
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