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Investor Presentaiton

92 U כ YELLOW CAKE PLC Growing mine supply gap Underinvestment in exploration and development is leading to a potential future supply gap. The Reference market scenario incorporated in the latest WNA nuclear fuel market report shows an immediate global market supply deficit (1) Supply/demand imbalance (U3O8 tu) 120,000 100,000 80,000 60,000 40,000 20,000 Source 0 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 Demand t Secondary Supplies (Group 1) Prospective Mines Supply-Restarted Idled Capacity I Mines Under Development Restarted Idled Capacity 1) The Nuclear Fuel Report - Global Scenarios for Demand and Supply Availability 2019-2040 (September 2019) Current Capacity Planned Mines Reactor Requirement, Reference Scenario 18
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