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Energy Transition and Uranium Market Dynamics

92 1: Global demand for nuclear increasing towards U 2050 Market conditions and policies are shifting views on natural gas and limiting its role, while underlining the potential for nuclear power to cut emissions and strengthen electricity security (1) Global nuclear energy demand scenarios (GW) (¹) כ YELLOW CAKE PLC 1,000 800 600 400 200 Source: Stated Policies Scenario (GW) Announced Pledges Scenario (GW) Net Zero Emissions by 2050 Scenario (GW) 2010 2021 2022 2030 2040 2050 1) World Energy Outlook, October 2023 6

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