Slide 1: Corporate Presentation – September 2020
Corporate Presentation – September 2020
Slide 2: Disclaimer
Disclaimer Statements contained in this presentation which are not historical facts are measured mineral resources, indicated mineral resources and inferred forward-looking statements that involve risks, uncertainties and other factors mineral resources, while recognized and required by Canadian reg
Slide 3: Licensed Low-Cost U.S. ISR Projects
Licensed Low-Cost U.S. ISR Projects Operational Infrastructure – Ready to Ramp Up U.S. Production Profile 4M lbs./yr Aggressively Expanded Project Portfolio Through Acquisitions During the Downturn Largest U.S. Resource Base of Fully Permitted ISR Projects in Texas and Wyoming of any U.S. Based Prod
Slide 4: Reactor Demand Significantly Exceeds Primary Production
Reactor Demand Significantly Exceeds Primary Production Spot Prices Below Production Costs and Hedges Falling Off 2020 Demand expected = 182M lbs. 2020 Production was expected @ 142M lbs., 12M lbs./mo pre COVID19 54% of Total monthly global production impacted by COVID19 2020 Production is now expec
Slide 5: Uranium Spot Price Up 25% Year-to-Date
Uranium Spot Price Up 25% Year-to-Date $30.00/lb.; Highest Since March 2016 Spot Daily Long Term $160 $138.00 $140 2005: Major Mine $120 Disruptions (Cigar Lake, $70.00 McArthur River) US $/lb U308 $100 2011: Fukushima event $80 $60 $30.15 $37.00 $40 Financial Crisis $20 Nov 2016: $17.75/lb 12 year
Slide 6: FY 2021 “Budget for America’s Future”
$1.5 Billion for a U.S. Uranium Reserve in the FY 2021 “Budget for America’s Future” U.S. Is The World’s Largest Consumer of Uranium Secretary of State Mike Pompeo said: "We need to fundamentally review our supply chains and make sure that we know those supply chains and have control over them for m
Slide 7: Nuclear Fuel Working Group - Restoring America’s Competitive Nuclear Energy Advantage
Nuclear Fuel Working Group - Restoring America’s Competitive Nuclear Energy Advantage Immediate & Bold Actions to Strengthen U.S. Uranium Mining • DOE Initiating a competitive procurement process for establishing a Uranium Reserve program within the next year. Program plans purchasing U.S. mined U3O
Slide 8: Washington D.C. - Bipartisan Support for Nuclear Power & Uranium Mining
Washington D.C. - A Notable Change - Bipartisan Support for Nuclear Power & Uranium Mining Democratic Party Platform Change – For the first time in 48 years there is support for nuclear energy – a “technology-neutral” approach that includes “all zero-carbon technologies”, including “existing and adv
Slide 9: Diversified Asset Portfolio Low-Cost ISR & Production Ready
Diversified Asset Portfolio Low-Cost ISR & Production Ready Canada - Athabasca Basin Resources (M lbs.) Project Name Stage 58 M lbs. Measured & Indicated Diabase (E) M&I NA Inferred NA 45 M lbs. Inferred U3O8 Paraguay ISR Uranium Portfolio Resources (M lbs.) Project Name Stage M&I Inferred Yuty (D)
Slide 10: U.S. Project Portfolio Infrastructure, Resources and Permits
U.S. Project Portfolio Infrastructure, Resources and Permits Uranium Stage: Hobson Processing Plant (E) Exploration Production Capacity of 2 M lbs./year Texas Hub & Spoke ISR Portfolio Vanadium (D) In Development (NT) Near Term Production WY CO AZ NM TX U.S. Conventional Portfolio Wyoming Reno Creek
Slide 11: Our Team
Our Team Amir Adnani Spencer Abraham Scott Melbye President, CEO, Director Chairman, Board of Directors Executive Vice President An entrepreneur, founding CEO of UEC, Served as a U.S. Senator from 1995 to 2001, as 35 years of experience in senior roles with founder and Chairman of GoldMining Inc., S
Slide 12: UEC At a Glance
UEC At a Glance Member of the Russell 3000® Index Cash(1) $7.4 M Securities(2) $11.6 M market value of 14 M shares of Uranium Royalty Corp (URC: TSX-V) 184.2 M 7.7 M 10.4 M 203.2 M Share Structure Outstanding Warrants + Options(3) Fully Diluted $1.22 1,243,052 Recent Activity As of Sep 16, 2020 Avg.
Slide 13: Hub & Spoke Production Strategy
Hub & Spoke Production Strategy South Texas 13
Slide 14: Hobson is fully licensed and permitted
Hobson is fully licensed and permitted. The Processing Plant has a 2M lbs. / year physical capacity 14
Slide 15: Palangana ISR Mine First Producing Mine Proof of Concept
Palangana ISR Mine First Producing Mine Proof of Concept $10M 6 months construction Initial CAPEX timeline • Low cash-cost of $21.77/lb during operation Production • Fully permitted including Ready expanded mine permit • Received 10-year renewal permits in 2019 Similar Costs • The major permits for
Slide 16: Palangana Production Area (PA-1)
Palangana Production Area 1 (PA-1) In-Situ Recovery (ISR) Technology Low Cost & Environmentally Friendly Palangana Ion Exchange Facility 16
Slide 17: Resin Hauling Truck And Trailer
Resin Hauling Truck And Trailer 17
Slide 18: Burke Hollow ISR Project Growth Ahead
Burke Hollow ISR Project Growth Ahead ▪ Discovery of six trends since 2012 ▪ 7.09M lbs. in 4.06Mt grading 0.088% U3O8 ▪ Leach amenability testing indicates recovery greater than 90% ▪ ~20,000 acres located ~50 miles from Hobson Processing Plant. ▪ 50% of the property unexplored South Texas *See news
Slide 19: Burke Hollow Advancing Towards Uranium Extraction
Burke Hollow 2019 Drilling Discovers Advancing Towards Additional Mineralization in Production Area 1 Uranium Extraction ✓ 72 monitor wells installed The following final permits have been issued: ✓ Enlarged the Production Area 1 ✓ Mine Production Area (PA-1) zone ✓ Two Class I disposal wells ✓ Aquif
Slide 20: Reno Creek ISR Project
Reno Creek ISR Project The largest permitted, pre-construction ISR uranium project in the U.S. Strategic Location within the Heart of the Powder River Basin, Wyoming Received a modified Permit to Construct in 2019, allowing the construction of the Central Processing Plant (CPP) and ISR wellfields 20
Slide 21: Reno Creek ISR Project Pre-Feasibility Study Underway
M & I Resource 26M lbs. Reno Creek ISR Project of U3O8 grading 0.041% within 32Mt* Pre-Feasibility Study Inferred Resource 1.49M lbs. Underway of U3O8 grading 0.039% within 1.92Mt* First time since 1980 that the major mineralized trends have been consolidated Considerable ISR exploration and expansi
Slide 22: Reno Creek: Project Timeline
Reno Creek: Project Timeline Aug 2017: Sept. 2016: UEC Closes July 2013: Updated June 2012: Acquisition May 2018: Repurchase of resource Exploration of the Fully UEC 5% Gross July 2015: to current June 2011: success Licensed Completes the Production Permit to 22M lbs. 350-hole resource discovers new
Slide 23: Anderson Project - Arizona
Anderson Project - Arizona NI 43-101 compliant resource*: A Large U.S. ▪ Indicated Resource: 29.5Mt, 17M lbs. avg. grade of 0.029% Resource ▪ Inferred Resource: 14.3Mt, 12M lbs. with avg. grade of 0.046% 9,852 Acres Project located ~75 miles northwest of Phoenix, AZ Between 1955-1958 with ~$40M spen
Slide 24: Slick Rock Project - Colorado
Slick Rock Project - Colorado NI 43-101 Compliant Resource*: Technical ▪ Inferred Resource: 2.5Mt, 11.6M lbs. avg. grade of 0.228% Report ▪ Inferred Resource: 2.5Mt, 69.6M lbs. vanadium with avg. grade of 1.37% Low ▪ $21M initial CAPEX with an annual production CAPEX of 438,000 pounds U3O8 + vanadiu
Slide 25: ISR District Opportunity in Paraguay
ISR District Opportunity in Paraguay Similar geology as South Texas and leveraging ~$50M of historic exploration work by Anschutz and Cameco, including new work completed by UEC. Project Historic Operator Stage Resource (M lbs) Yuty Cue Resources / Exploration / 8.9M lbs. in 7.8Mt grading 0.052% Cam
Slide 26: Alto Paraná Titanium Project
Alto Paraná Titanium Project Project Overview ▪ One of the highest-grade and largest-known Cut-Off % % % Ilmenite Tonnes Thickness Ferro-Titanium deposits in the world % TiO2 Fe2O3 calc Billions (m) ▪ NI 43-101 compliant resource with a mineral 6.0 7.41 23.58 13.95 4.94 6.61 exploration claim of 70,
Slide 27: Titanium Feedstock Market
Titanium Feedstock Market – TiO2 prices hitting 3-year highs Price of TiO2 Feedstock - ilmenite (USD per tonne) $200 ▪ 90% of TiO2 feedstocks (ilmenite) used UEC signed $175 for pigment manufacturing option to acquire ▪ Strong price recovery for ilmenite since $150 Alto Paraná 2017, with positive ou
Slide 28: Investment Summary
Investment Summary ▪ Fully permitted and state of the art infrastructure advantage with Hobson Processing Plant ▪ Pipeline of fully licensed, low-cost ISR projects – potential production profile of 4M lbs./year in Texas and Wyoming ▪ U.S. projects can provide supply under Trump’s NFWG strategy, incl
Slide 29: Nuclear Energy Saves Lives – Improves Quality of Life
Nuclear Energy Saves Lives – Improves Quality of Life Nuclear is the safest way to make reliable electricity and has saved over 3 million lives that would have been lost prematurely to deadly air pollution from energy alternatives. https://www.nextbigfuture.com/2019/01/nuclear-power-has-saved-3-4-mi
Slide 30: Germany’s “Energiewende” “Failed Energy Policy”
Germany’s “Energiewende” France Gets 72% of its “Failed Energy Policy” Electricity from Nuclear Power THEY ENJOY: 160 Billion Euro Investment in “Green Energy” has resulted in: ✓ Per kW carbon emissions 1/10 that of Germany ✓ Electricity rates 1/2 that of Germany ▪ Zero Progress in Reducing Carbon E
Slide 31: Nuclear Power Growth Remains Robust
Nuclear Power Growth Remains Robust 31 More than 9% since 2012 441 Operable Reactors Worldwide 48 Reactors Connected in 7 Years 53 Units Under Construction ▪ China announced that it is likely to triple nuclear power capacity by 2030 ▪ India plans for 21 new nuclear reactors by 2031 ▪ U.A.E. completi
Slide 32: Small Modular Reactor (SMR)
Small Modular Reactor (SMR) An Important Emerging Market ▪ SMR global market: 65-85 GWe by 2035 – small scalable reactors: ▪ Size: 5 up to 300 MWe ▪ Simpler design - lower capital and operating cost ▪ Cost competitive with natural gas ▪ Western U.S. utilities planning for 12 of the NuScale Power SMR
Slide 33: Need for New Production – Beyond Existing Mines
Need for New Production – Beyond Existing Mines Trade Tech’s “Market Appetite” for New Production Inventory Overhang Appetite for New Production Secondary Supply Established Production Base (Weighted) Reactor Requirements Drawing Down Uranium Price Too Low to Stimulate New Production Within the Perm
Slide 34: Utility Procurement Cycle: Old Contracts Rolling Off
Utility Procurement Cycle: Old Contracts Rolling Off…New Contracts Need to be Signed Utility Uncommitted Demand Historic Long Term Contracting Source: UxC Market Outlook Q2 2020 34
Slide 35: Global Cost Curve – Most U.S. Production is ISR
Global Cost Curve – Most U.S. Production is ISR Source: TradeTech 35
Slide 36: Overdependence on Foreign Supplies
Overdependence on Foreign Supplies “ The Department of Energy is working to end U.S. reliance on Russia for nuclear fuel, plans to begin processing U.S. uranium as early as next year ” Secretary Dan Brouillette U.S. Uranium Imports vs. Production: 1970-2019 Imports as % Million lbs U308 of Productio
Slide 37: Bottom Line - Positive Market Outlook
Bottom Line - Positive Market Outlook ✓ Demand Growth – 48 reactors added to grid in past 7 years. Global nuclear energy growth > 9% since 2012 - generation has recovered to pre-Fukushima levels. IEA sees future installed nuclear capacity growth of over 15% to 2040 ✓ Underinvestment and Supply Cutba
Slide 38: Combined Resource Summary
Combined Resource Summary(1) Projects Measured & Indicated Inferred Hub & Spoke ISR Portfolio Tons Grade Lbs U3O8 Tons Grade Lbs U3O8 Texas ISR (‘000) (% U3O8) (‘000) (‘000) (% U3O8) (‘000) Palangana 393 0.14 1,057 328 0.18 1,154 Burke Hollow - - - 4,064 0.088 7,093 Goliad 3,790 0.05 5,475 1,547 0.0
Slide 39: Uranium Energy Corp Contact
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