Centrus IPO Presentation Deck
Enrichment Market Is Recovering
• Reduced clemand, increased inventories, and excess SWU capacity post-Fukushima drove prices to historic lows
SWU price is up 40% from low in July/August 2018 and market indicators have steadily increased in 2020
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• More buyers are coming to market
Price recovery will depend on continued and extended reactor operations, new builds, Japanese restarts, mine
closures, and reduction of existing enrichment capacity, but additional U.S. reactor closures and Chinese enrichment
expansion could dampen price recovery
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Centrus was able to leverage a one-time price reset with our largest supplier
External SWU price forecasts vary, with some showing flat prices or slow recovery, others showing dramatic recovery
in near term
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Centrus
A00-17
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RECENT SWU PRICES
Jan-20
$120
$40
SWU PRICE FORECASTS
-UBC Low Mid
Sources: UxC Enrichment Market Outlook for 2 Qtr 2020
Note: Historical SWU Term and Spot Price are average of UxC and TradeTech monthly published prices.
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