Encore Energy Corp. · TSXV:EU
Encore Energy — Investor Presentation (September 2026)
33 slides from Encore Energy's investor presentation, September 2026
Slide 1: Uranium Extraction in the U.S.
Uranium Extraction in the U.S. September 2026 NASDAQ:EU | TSX.V:EU encoreuranium.com
Slide 2: Disclaimer
Disclaimer ©2026 enCore Energy Corp., All rights reserved. Unless otherwise noted, “enCore” and all other marks used in this presentation are trademarks of enCore Energy (the “Company”). Any reproduction or dissemination of any feature of presentation, in whole or in part, or any use of this present
Slide 3: enCore Energy: America's Clean Energy Company
enCore Energy: America’s Clean Energy Company Reliable & Responsible Domestic Uranium Extraction South Texas ISR Uranium S-K 1300 Resources9, 10, 11, 12 In-Situ Recovery: Uranium Operations 30.94 Mlbs – Measured and Extraction process with proven Multiple central processing plants, Indicated (“M&I
Slide 4: U.S. Uranium Supply and Demand
U.S. Uranium Supply and Demand The World’s Largest Consumer and Minimal Uranium Production Declining U.S. Supply: -200K lbs/yr Increasing U.S. Demand: +51 MM lbs/yr In the 1980s, the U.S. had enough domestic uranium supply to be self sufficient, and it is possible to achieve this again. NASDAQ:EU |
Slide 5: enCore Capital Structure
enCore Capital Structure Analyst Coverage Marcus Giannini NASDAQ:EU | TSX.V:EU Haywood Securities Inc. Mike Kozak Market Capitalization (@ $1.28 USD) $ 248,682,644 USD Cantor Fitzgerald, L.P. Shares Issued and Outstanding 194,283,316 Anthony Taglieri, CPA Canaccord Genuity Corp. (Canada) Stock Optio
Slide 6: Board of Directors
Richard H. Little Board of Directors Chief Executive Officer & Director Mr. Little brings over 30 years of industry and public company experience primarily focused on enhancing production, well performance, acquisitions and divestitures, and operational efficiency,. He previously served as the Chief
Slide 7: Management Technical Advisory Committee
Management Technical Advisory Committee Richard H. Little Chief Executive Officer & Director Mr. Little brings over 30 years of industry and public company experience primarily focused on enhancing production, well performance, acquisitions and divestitures, and operational efficiency,. He previousl
Slide 8: enCore Energy in the Nuclear Fuel Cycle
enCore Energy in the Nuclear Fuel Cycle enCore’s role in the cycle Wellfield Processing Yellow Cake Transport Conversion Enrichment Fabrication Nuclear Domestic Oxygenated Plant (U3O8) Licensed and The The gas is The now Plant Consumers water liquifies The liquified The now insured third yellowcake
Slide 9: In-Situ Recovery (ISR)
Our Technology In-Situ Recovery (ISR) Environmentally Superior and Economically Competitive Injection wells add oxygen to groundwater to dissolve the uranium. Recovery wells pump the liquid uranium back to the surface to a processing facility. Monitoring wells surround the wells. ~ 60% of gl
Slide 10: Current and Future Project Pipeline
Current and Future Project Pipeline NASDAQ:EU | TSX.V:EU 10
Slide 11: South Texas
South Texas A prolific U.S. district for sandstone-hosted ISR production totaling ~80 million lbs.5, 6 Well established and mature regulatory environment in a well- known energy producing State. The United States Geological Survey (“USGS”) estimates the potential to discover an additional 220
Slide 12: South Texas In-Situ Recovery Uranium Central Processing Plants (CPP)
South Texas In-Situ Recovery Uranium Central Processing Plants (CPP) Rosita ISR Uranium Central Processing Plant Alta Mesa ISR Uranium Central Processing Plant NASDAQ:EU | TSX.V:EU 12
Slide 13: Alta Mesa ISR Uranium CPP & Wellfields
South Texas Alta Mesa ISR Uranium CPP & Wellfields Alta Mesa CPP commenced operations in Q2/2024.9 Operates under a 70/30 joint venture with enCore Energy Corp. and Boss Energy Limited, with enCore as the managing partner. A separate Collaboration Agreement governs the use and joint technologica
Slide 14: Alta Mesa ISR Uranium CPP & Wellfields: Current Operations
South Texas Alta Mesa ISR Uranium CPP & Wellfields: Current Operations Wellfield 3 Extension costs fully expensed and ready for immediate operation upon receipt of final permits, anticipated in Q4-2026. Final permits for Wellfield 8 are anticipated by the end of Q1-2027. Multiple exploration p
Slide 15: Alta Mesa East Project
South Texas Alta Mesa East Project Over 5,900 acres of private land consisting of mineral and surface leases located immediately adjacent to and east of enCore’s Alta Mesa wellfields and CPP. Expected to provide continued feed for the Alta Mesa CPP. Uranium mineralization at Alta Mesa East occ
Slide 16: Rosita Uranium Project: Satellite Ion Exchange (IX) Plants
Rosita Uranium Project: Satellite lon Exchange (IX) Plants (Model) Uranium is captured on resin (a tiny bead-like material that traps uranium) at remote Satellite IX Plants and trucked to the Central Processing Plant (CPP), where it is processed into yellowcake (UsOs) Upper Spring Creek-Brown Satell
Slide 17: Upper Spring Creek ISR Uranium Project
South Texas Upper Spring Creek ISR Uranium Project Largest Satellite Remote Ion Exchange (IX) Plant built by enCore. The IX Plant is fully constructed, and development of the first wellfield is completed. Initial start-up extraction is anticipated to feed the Rosita CPP, which has been held on
Slide 18: Rosita ISR Uranium CPP and Wellfields
South Texas Rosita ISR Uranium CPP and Wellfields Rosita CPP commenced operations in November 2023 and is on warm-standby awaiting final permitting at Upper Spring Creek to allow ISR extraction to commence which will feed the Rosita CPP. Total operating capacity of 800,000 lbs U₃O₈ and located ~
Slide 19: Rosita Uranium Project
South Texas Rosita Uranium Project Satellite IX Plant at the Rosita Uranium Project NASDAQ:EU | TSX.V:EU 19
Slide 20: Dewey Burdock ISR Uranium Project
South Dakota Dewey Burdock ISR Uranium Project 100% owned advanced stage ISR uranium project located on 10,580 acres in South Dakota’s Edgemont Uranium District. The Project will consist of wellfields, a CPP, supporting infrastructure and environmental protection systems. Nuclear Regulatory Co
Slide 21: Dewey Burdock Project
South Dakota Dewey Burdock Project Initial capital costs of US$264.2M. Pre-tax IRR of 39% at U.S. $86.34/lb long-term uranium price (post-tax IRR of 33%). State permitting expected to complete by end of 2027. 28 years Mine Life (incl. 2-year ramp-up) Plant engineering is underway. Annual Pro
Slide 22: Gas Hills Project
Wyoming Gas Hills Project Wyoming has long history of successful ISR operations and is an Agreement State with positive permitting timelines. The Gas Hills Project is 100% company-owned, with a proposed Project pipeline commencing in 2028. Located in Fremont and Natrona Counties, Wyoming. Mine L
Slide 23: enCore's Contract and Sales Strategy
enCore’s Contract and Sales Strategy A blend of contracts with pricing collars and significant exposure to spot: Contracts are structured with pricing that reflects market conditions at the time of execution with floors and ceilings that are adjusted for inflation. Inflation adjusted floor and c
Slide 24: Other Assets
Other Assets Exclusive access to privately-held databases of world-wide uranium data. On-going non-core asset divestment strategy: Non-core assets that can provide value and reduce shareholder dilution. Investing in new technology: Prompt Fission Neutron (“PFN”) technology, providing enCore wi
Slide 25: enCore Energy: America's Clean Energy Company
enCore Energy: America’s Clean Energy Company Reliable & Responsible Domestic Uranium Extraction U.S. Uranium Extraction in Advanced Assets: U.S. 100% In-Situ Recovery Pro-Energy Jurisdictions Production Pipeline Uranium Extraction Industry-Leading Experts and Balanced Collared Contract Non-Core Div
Slide 26: www.encoreuranium.com info@encoreuranium.com 972.891.8664
www.encoreuranium.com info@encoreuranium.com 972.891.8664 NASDAQ:EU | TSX.V:EU 26
Slide 27: Uranium Spot Price
enCore Energy: America’s Clean Energy Company Uranium Spot Price (USD$) 150 100 URANIUM 50 0 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 2026 NASDAQ:EU | TSX.V:EU 27 TradeTech/UxC
Slide 28: ISR Central Processing Plants
ISR Central Processing Plants Processing Plants Wellfield Resin Resin Recharge Filter Press Dryer Packaging Transport Conversion Oxygenated Reloading Uranium is removed The Filter Press The zero emissions Yellowcake The transport is Plant water liquifies The uranium rich from the resin beads separat
Slide 29: Global Uranium & Nuclear Environment
Global Uranium & Nuclear Environment Globally, there are about 439 operable reactors delivering 402 GW of capacity across approximately 31 countries, contributing around 9% of the world's electricity generation. As of July 2026, there are approximately 80 nuclear reactors under construction worldwid
Slide 30: enCore Energy: America's Clean Energy Company
enCore Energy: America’s Clean Energy Company Fully funded uranium extraction strategy to provide clean, reliable, and carbon-free domestic energy. NASDAQ:EU | TSX.V:EU 30
Slide 31: Energy Returned On Invested (EROI) of Various Energy Sources
Energy Returned On Invested (“EROI”) of Various Energy Sources This chart compares the lifetime electricity output of different power sources to the energy needed to create and run them 24/7. For example, nuclear plants generate 75 times the energy they consume. 80 75 70 60 EROI, with energy storage
Slide 32: Uranium Supply & Demand Forecast
250 $104 Million lbs U3O8 200 Supply Gap (Required New Production) Uranium Supply & 150 Demand Forecast Uranium Spot Price 100 Established Production 50 1Source: Historical Ux Weekly Prices, UxC.com as at February 10, 2026 2Source: Uranium Market Study 2022 Issue 4, TradeTech, LLC 3Source: World Nuc
Slide 33: References
enCore Energy References 1. Nuclear Fuel Cycle: In-Situ Leach Mining of Uranium, 10. “Mesteña Grande Uranium Project, Brooks and Jim Hogg World Nuclear Association, https://world- Counties, Texas, USA, S-K 1300 Technical Report nuclear.org/information-library/nuclear-fuel-cycle/mining- Summary, Init
enCore Energy — Investor Presentation (September 2026) on 6ix