Diversifying into the REE Industry

• • • • 2024 Guidance Focus on Profitable Uranium Production & Sales; Commission Rare Earth Circuit Ramping-up production at three (3) uranium mines, including the Pinyon Plain mine (Arizona), the La Sal mine (La Sal Complex, Utah), and the Pandora mine (La Sal Complex, Utah) • Expect to produce uranium ore at a run-rate of 1.1 to 1.4 million lbs. of U3O8 per year by end of 2024 from these three mines Preparing two (2) additional uranium mines for production, including the Whirlwind mine (Colorado) and the Nichols Ranch ISR Facility (Wyoming) Short-term potential to produce an additional 300,000 to 600,000 lbs. of U3O per year 8 Evaluating total finished uranium production in 2024 from alternate feed materials • Additional 100,000 to 400,000 lbs. of U3O8 per year Advancing permits on large-scale uranium mines, including Sheep Mountain (Wyoming), Roca Honda (New Mexico) and Bullfrog/Henry Mountains (Utah) 200,000 lbs. of expected U3Og sales in 2024 under long-term contracts; potential to sell additional uranium on spot market Commissioning Phase 1 NdPr circuit at the White Mesa Mill in Q1-2024 Capacity to produce 1,000 tonnes of NdPr oxide; expected 2024 production of 40 - 50 tonnes NdPr oxide • Commencing design and licensing of Phase 2 and Phase 3 rare earth separation circuits the White Mesa Mill • Advancing Bahia Project in Brazil, and seeking to secure additional monazite supplies, including from the Donald Project in Australia 27

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