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Yellow Cake Plc Uranium Market Overview

Nuclear is a key element of global energy supply Lowest non-carbon operating cost per mWh (1) One of the lowest sources of carbon emissions per mWh Nuclear energy provides reliable baseload power Nuclear energy is sustainable Nuclear is increasingly being recognised as a contributor to a low carbon future Growing interest in Small Modular Reactors Source: 1) National Energy Association - 2015. Cost includes both investment cost and O&M, including overnight cost (with contingency) as well as implied IDC, discounted at 7% 92 כן YELLOW CAKE PLC 13

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