Uranium Energy Corp. · AMEX:UEC
Uranium Energy — Investor Presentation (November 2024)
35 slides from Uranium Energy's investor presentation, November 2024
Slide 1: America's Largest & Fastest Growing Uranium Company
AMERICA’S LARGEST & FASTEST GROWING URANIUM COMPANY Wyoming Uranium Production Restarted Corporate Presentation – November 2024 URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM
Slide 2: Disclaimer
Disclaimer Statements contained in this presentation which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that
Slide 3: U.S. Production Restarted
U.S. Production Restarted Full Spot Market Exposure on Growing Production Profile America’s Largest, Over $1 Billion* in Accretive Acquisitions IRIGARAY PLANT – WYOMING HUB & SPOKE OPERATIONS Fastest Growing Focused on growing production at our Wyoming Hub & Spoke operations, with mine development a
Slide 4: Annual Electricity Demand from U.S. Data Centers is Expected to Double by 2028
Annual Electricity Demand from U.S. Data Centers is Expected to Double by 2028(1) Big Tech & Net Zero Goals US Data Center Energy Consumption Unparalleled Nuclear 600 Require More Clean Electricity Demand 500 • Positive shifting sentiment • Generative AI queries consume 10-30x 400 more energy than a
Slide 5: Demand for Uranium Significantly Exceeds Primary Production
Demand for Uranium Significantly Exceeds Primary Production Growing demand coupled with underinvestment in uranium has led to a structural supply deficit that is projected to continue and widen through 2040 (2) 450 Demand- Call to triple Anticipated Cumulative Production Gap Global Supply and Demand
Slide 6: Unprecedented Bipartisan Support Resulting in Investments to Increase Domestic Uranium & Fuel Cycle Supply
Unprecedented Bipartisan Support Resulting in Investments to Increase Domestic Uranium & Fuel Cycle Supply July 2024 “ADVANCE” Act Signed • Most expansive update to the nuclear industry in 100 years; Will ensure efficient, predictable licensing & regulation for nuclear June 2024 National Defense Aut
Slide 7: Fundamentals Favor Significant Price Appreciation
Fundamentals Favor Significant Price Appreciation Prices Still Well Below Previous Highs $160 Spot Daily Long Term $140 2005: Major Mine $138.00 Disruptions $83.00(1) (Cigar Lake, $120 $82.00(2) US $/lb U308 McArthur River) $70.00 $100 2011: Fukushima event $80 $60 $40 Financial Crisis $20 Nov 2016:
Slide 8: Bottom of Cycle Acquisitions Creates Largest U.S. Uranium Company Positioned for Production Growth
Bottom of Cycle Acquisitions Creates Largest U.S. Uranium Company Positioned for Production Growth UEC Acquisition Timeline and Uranium Spot Price(1) ($/lb) $110.00 Recent U3O8 $100.00 Price Range: $77-85/lb $90.00 UEC Acquisitions from 2017 to 2023 at uranium $80.00 prices ranging from $20 to $45 p
Slide 9: Largest, Diversified Resource Base in the Western Hemisphere
Largest, Diversified Resource Base in the Western Hemisphere Total Resources of 230.1 M lbs. U3O8 as M&I, 100.0 M lbs. U3O8 as Inferred, 175 M lbs. Historical(3) Athabasca Basin (S-K 1300 compliant)(2) Irigaray Hub and Spoke ISR Portfolio (S-K 1300 compliant)(1) Attr. Resources (M lbs.) Nunavut Proj
Slide 10: Four Production Growth Pillars Complemented by an Extensive Exploration Portfolio
Four Production Growth Pillars 10 Complemented by an Extensive Exploration Portfolio Irigaray Central Hobson Central Sweetwater Central Roughrider Conventional Processing Plant Processing Plant Processing Plant Asset $946M Post Tax NPV8, IRR 40%, 62.3 M lbs. M&I & 10.7 M lbs. 12.96 M lbs. M&I & 9.95
Slide 11: Creating Value by Delivering on a Robust Pipeline
Creating Value by Delivering on a Robust Pipeline 330.1 Million lbs. (230.1 M&I / 100.0 Inf.) Plus 175 Historical(1,2) Exploration Partner Operated JVs Advanced U.S. Production Roughrider Christie Lake Millennium Horseshoe Raven Wheeler Hidden River Bay Kiggavik Paraguay Shea Creek Arizona Sweetwate
Slide 12: Irigaray Central Processing Plant Now in Production
Irigaray Central Processing Plant Now in Production Irigaray CPP, Wyoming Largest S-K 1300 uranium resource summary completed and filed to date in the U.S. 4M lbs/yr 4 11 62.3 M lbs. M&I & 10.7 M lbs. Licensed Fully Satellite Production Permitted Projects Inferred U3O8 resources Capacity Projects UR
Slide 13: Irigaray CPP: Christensen Ranch Satellite Site Production Restarted
Irigaray Central Processing Plant Christensen Ranch Satellite Site Production Restarted 18.6 M lbs. Indicated U3O8 Resources 1.1 M lbs. Inferred U3O8 Resources(1) Irigaray CPP, Wyoming Christensen Satellite Plant Interior ✓ Christensen Ranch ISR Project is the first project (“Spoke”) to feed the Iri
Slide 14: Irigaray CPP: Permitted, Construction Ready Growth Projects
Irigaray Central Processing Plant Permitted, Construction Ready Growth Projects Reno Creek ISR Project • Largest, permitted, pre-construction ISR project in U.S. • 26.0 M lbs. M&I | 1.5 M lbs. Inferred U3O8(1) • Licensed for 2.0 M lbs./year; Production permits in place • 50 miles by road to Irigaray
Slide 15: Hobson Central Processing Plant Production Restart Preparations Ongoing
Hobson Central Processing Plant Production Restart Preparations Ongoing The Burke Hollow Project is the newest & largest ISR wellfield being developed in the U.S. 12.96 M lbs. M&I & 4M lbs/yr 3 5 Licensed Fully Satellite 9.95 M lbs. Inferred Production Permitted Projects U3O8 resources Capacity Proj
Slide 16: Hobson CPP: Burke Hollow Satellite Site Production Preparations
Hobson Central Processing Plant Burke Hollow Satellite Site Production Preparations Restarted 6.15 M lbs M&I and 4.88 M lbs Inferred resources(1) The Newest & Largest ISR Wellfield Being Developed and Discovered in the U.S. ✓ Six drilling rigs are operating in PA-1, installing wells for the first pl
Slide 17: Hobson CPP: Permitted, Construction Ready Growth Projects
Hobson Central Processing Plant Permitted, Construction Ready Growth Projects Palangana ISR Project • Advancing the fully permitted, past producing project for production re-start; Produced 563,600 lbs from 2010 to 2016 • 0.64 M lbs U3O8 Indicated and 1.0 M lbs U3O8 Inferred(1); Fully permitted • Lo
Slide 18: Sweetwater Central Processing Plant
Sweetwater Central Processing Plant UEC’s Newest and Third Central Processing Plant & Satellite Sites Sweetwater Plant, Wyoming 4.1M lbs/yr 108k 2 175 M lbs. Historical(1) - Further Licensed Acres of Satellite Consolidates UEC’s Wyoming Production Capacity Prospective Mining Land Projects Position U
Slide 19: Sweetwater Plant Unlocks Meaningful Synergies with Existing Projects
Sweetwater Central Processing Plant Unlocks Meaningful Synergies with Existing Projects Minimal required capital to advance the licensed Sweetwater Plant for ISR NATRONA CARBON Fremont Crook’s Mountain 4.1 M lbs. U3O8 per year 28N 97W 28N 96W 28N 95W 28N 94W 28N 93W 28N 92W 28N 91W 28N 90W 28N 89W 2
Slide 20: Scaling-up in the World's Most Prolific Uranium Mining District
Athabasca Basin, Canada Scaling-up in the World’s Most Prolific Uranium Mining District Roughrider Project, Athabasca Basin After Cameco and Orano, UEC controls 109.9Mlbs 68.4Mlbs 1.14M Acres Attributable the largest diversified resource base(1), M&I U3O8 Attributable Land position Inferred U3O8 hos
Slide 21: Roughrider: Leading Financial Results from Initial Economic Study
Roughrider Leading Financial Results from Initial Economic Study(1) $946 million Post Tax NPV8, IRR of 40%, payback of 1.4 years(2) LOM avg. production 6.8 M lbs. U3O8 / yr Industry leading financial returns in the Eastern Athabasca Basin ✓ Low initial CapEx of $545 Million, includes Mill and UG min
Slide 22: Roughrider: World-Class Mine Plan with Leverage to Uranium Price
Roughrider World-Class Mine Plan with Leverage to Uranium Price Initial Assessment Report Physical Highlights(1)(2) Roughrider Project Financial Estimates based on Uranium Price(1)(2) Avg. LOM Annual Production M lbs U3O8 6.8 Uranium Price Average Annual LOM Production M lbs U3O8 61.2 (US$ / lb U3O8
Slide 23: Roughrider: High-Quality Asset with Robust Mine Design
Roughrider High-Quality Asset with Robust Mine Design URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM 23
Slide 24: Athabasca Growth Portfolio
Athabasca Growth Portfolio Strong Project Pipeline & Strategically Placed Assets Christie Lake • High-grade deposit along Cameco’s McArthur River trend – the only exploration project not controlled by Cameco or Orano • 20.35 M lbs. U3O8 in three existing deposits • Exploration potential: • High-grad
Slide 25: Strong Joint-Venture Partnerships
Strong Joint-Venture Partnerships Partnering with Established Uranium Miners allowing UEC to focus on Near-Term Growth UEC exposure to 44.6 M lbs. Indicated, 18.2 M lbs. Inferred, and 21.5 M lbs. Historical Shea Creek ~ 49.1% Millennium ~ 15.1% Kiggavik ~ 16.9% • Millennium is an advanced uranium pr
Slide 26: Leading Uranium Sector Sustainalytics Score
Leading Uranium Sector Sustainalytics Score ✓ UEC holds the leading Sustainalytics and ISS Quality Score ESG ratings amongst uranium mining companies assessed ✓ UEC is ranked in the top 5th percentile (10th of 200) when assessed on its sustainability practices against global diversified metals and m
Slide 27: UEC At a Glance
UEC At a Glance Cash, Equity(1) and Member of the Russell 2000® Index $331.5 million, no debt Inventory Holdings (2) Average Daily Traded $39.5M UEC Team, MM Cap, Blackrock, Vanguard Value - 6 months(3) Group, State Street, ALPS Advisors, Norges Top Shareholders Bank, JP Morgan, Fidelity, Northern T
Slide 28: Strengthened Positioning and Liquidity Among Peer Group
Strengthened Positioning and Liquidity Among Peer Group 1 Year Average Daily Traded Value – U.S. Listings ($ M)(1) Cameco $171.5 UEC $35.3 NexGen $22.8 Energy Fuels $15.7 Paladin $14.1 Denison $12.1 Boss Energy $6.7 URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM Source: FactSet 28 (1)
Slide 29: Industry Leaders on Board and Management
Industry Leaders on Board and Management Scott Melbye Brent Berg Donna Wichers Amir Adnani Spencer Abraham Executive Vice President Senior VP of U.S. Operations VP of Wyoming Operations President, CEO, Director Chairman, Board of Directors Over 40 years of experience in Former President of Cameco Fo
Slide 30: Uniquely Positioned with 100% Unhedged Production and Significant Growth Pipeline
Uniquely Positioned with 100% Unhedged Production and Significant Growth Pipeline ▪ Wyoming Production Restarted August 2024 ▪ Three(1) Central Processing Plants in Wyoming and Texas with the largest resource base of fully permitted ISR projects of any U.S. based producer ▪ Advancing the High-grade
Slide 31: Appendix
Appendix URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM 31
Slide 32: Emerging U.S. Government and SMR Demand for American Uranium
Emerging U.S. Government and SMR Demand for American Uranium UEC and TerraPower announce a memorandum of understanding UEC wins award from the U.S. Department of Energy to supply 300,000 lbs. (“MOU”) with the objective of reestablishing domestic supply chains of U3O8 to the strategic uranium reserve
Slide 33: UEC U.S. and Paraguay Resource Summary
UEC U.S. and Paraguay Resource Summary(1) Measured Resources Indicated Resources M+I Inferred Exploration Target Historic** PROJECTS Tons Grade lbs. U3O8 Tons Grade lbs. U3O8 lbs. U3O8 Tons Grade lbs. U3O8 Tons Grade lbs. U3O8 Tons Grade lbs. U3O8 ('000) (% U3O8) ('000) ('000) (% U3O8) ('000) ('000)
Slide 34: Canadian Attributable Resource Summary
Canadian Attributable Resource Summary S-K 1300 Resources (1) Project Indicated Resources Inferred Resources Tonnes Grade M lbs. Tonnes Grade M lbs. (000's) (% U3O8) U3O8 (000's) (% U3O8) U3O8 Roughrider 699 1.81 27.86 619 2.45 33.38 Christie Lake - - - 488 1.57% 16.84 Horseshoe-Raven 10,353 0.16% 3
Slide 35: Uranium Energy Corp
URANIUM ENERGY CORP Toll Free: (866) 748-1030 info@uraniumenergy.com www.uraniumenergy.com Corporate Office 500 North Shoreline Ste. 800N Corpus Christi, TX 78401 Tel: (361) 888-8235 Fax: (361) 888-5041 Investor Relations: Bruce J. Nicholson President and CEO: Amir Adnani Executive Vice President Sc
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