Investor Presentation

UGE has a clean capitalization table with significant upside Capitalization (all figures CAD) Share Price (as of 1/31/2024) Share Price & Volume Chart (Past 2Y) 1 ($) $0.90 Basic Shares Outstanding $CAD/Share (M) 33.2 Latest (as of 1/31/2024) $0.90 Dilutive Options & Warrants $3.50 52-Week High: $1.98 (M) 5.5 $3.25 52-Week Low: 000's Shares Traded 1,200 $0.91 Fully Diluted Shares Outstanding (M) $3.00 3-month Average Daily 38.7 Volume 37,142 $2.75 1,000 Fully Diluted Equity Value ($M) $34.8 $2.50 Less: Cash $2.25 ($M) 800 $4.9 $2.00 Plus: Operating Debt ($M) $3.6 $1.75 Enterprise Value $1.50 600 ($M) $33.5 $1.25 $1.00 400 Management & Insider Ownership Project Backlog Note: All financial data as of Q3 2023 filings/MD&A, unless noted $0.75 33% $0.50 343 MW $0.25 Dec-21 UGE Mar-22 1 Source: Yahoo Finance Jun-22 Sep-22 TSXV: UGE | OTCQB: UGEIF Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 200

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