Slide 1: Uranium Royalty Corp Corporate Presentation
Uranium Royalty Corp The Leading Uranium & Land Royalty Company. Corporate Presentation September 2026 UROY: NASDAQ
Slide 2: Forward-Looking Statements
Forward-Looking Statements 2 Forward-Looking Statements This presentation may contain “forward-looking information” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and “forward-looking statements” (collectively, “forward-lo
Slide 3: The Uranium Royalty Advantage
The Uranium Royalty Advantage 3 Uniquely positioned to grow through leading royalties and land position ▪ Largest American publicly traded non-precious royalty & streaming platform and leading uranium royalty company Positioned for Growth ▪ Essential commodities, with significant anticipated demand
Slide 4: First Quarter of Fiscal Year 2027 Highlights
First Quarter of Fiscal Year 2027 Highlights 4 Operational and financial highlights for the three months ended July 31, 2026 ▪ Acquired approximately 92% of Sweetwater, adding producing soda ash royalties and leading land Transformational and mineral-rights position across the U.S., to create the la
Slide 5: Strong Revenue Profile through Recently Acquired Soda Ash Portfolio
5 Strong Revenue Profile through Recently Acquired Soda Ash Portfolio Expected 2.7x embedded production growth through advanced expansions and greenfield projects Near-Term Attributable Soda Ash Production Capacity Growth Existing Operations + Upside Advanced Greenfield from Expansion / Optimization
Slide 6: Unparalleled Portfolio Anchored by Tier 1, Long-Life Assets
6 Unparalleled Portfolio Anchored by Tier 1, Long-Life Assets Pairing cornerstone soda ash assets with the largest uranium portfolio to provide unmatched exposure to the growing critical mineral and industrials sectors Cornerstone Long-Life Soda Ash Accelerated Uranium Royalty Growth Royalties Avera
Slide 7: Expansive Growth Pipeline through Land and Minerals Optionality
7 Expansive Growth Pipeline through Land and Minerals Optionality Second largest public landowner in the U.S.(1) and largest landowner in uranium-rich Wyoming The Company’s expansive land package provides strong optionality and defined value; an element of control rarely seen in the royalty space. S
Slide 8: Diversified Exposure in Top Jurisdictions
8 Diversified Exposure in Top Jurisdictions
Slide 9: Soda Ash Market Portfolio
URANIUM ROYALTY CORP Soda Ash Market Portfolio
Slide 10: Soda Ash
10 Soda Ash Life’s invisible ingredient An essential ingredient in everyday products like glass, chemicals and detergents & a critical material enabling the energy transition. Soda Ash Overview 2020-2025 World Soda Ash Demand(2) 2025 Demand Breakdown(2) ▪ Sodium carbonate, more commonly know World S
Slide 11: Soda Ash Market
11 Soda Ash Market Pricing under pressure from oversupply, but low-cost producers remain resilient Royalties across mines in the first quartile of the cost curve creates resiliency for UROY portfolio Historical Soda Ash Pricing(1) $250 Supply growth from China creating overhang, putting downward pre
Slide 12: Exceptional Royalty Base with Long Life Operations
12 Exceptional Royalty Base with Long Life Operations Uranium Royalty holds 8% revenue royalties(1) on five tier 1 producing mines and two greenfield projects in development Five Top Tier Mines, Across Four Operators Two Advanced Greenfield Projects Westvaco + Granger Projects Project West ▪ Westvac
Slide 13: Significant Soda Ash Near-Term Growth
13 Significant Soda Ash Near-Term Growth 2.7x organic growth through near-term expansions and advanced greenfield projects 1 Near-Term Brownfield Expansions(1) 2 Large Advanced Greenfield Projects(1) 3 Trona Land Optionality Current Combined Attributable Capacity: 4.7 Mstpa Post Brownfield Expansion
Slide 14: The Uranium Royalty Corp Advantage
14 The Uranium Royalty Corp Advantage First quartile, long-life assets located in top tier jurisdiction of Wyoming, U.S. Natural Synthetic Global demand 2024 Trona Solvay Houdry ~95% capacity utilization(3) Western EU (Best) Western EU (Other) $300 Tata, Şişecam, Middle East WE Soda, and (Other) Chi
Slide 15: Uranium Portfolio and Market Overview
Uranium Portfolio and Market Overview
Slide 16: Uranium Market Sees Structural Primary Supply Deficit
Uranium Market Sees Structural Primary Supply Deficit 16 Supply gap projected to widen through 2045 reaching a cumulative 1.6 B lbs. 450 Demand- Call to Triple Projected Production Gap(1) Global Nuclear Capacity Cumulative – Base Demand and Production Case by 2050 by 38 countries 400 2026-2027 is ~
Slide 17: UROY's Uranium Royalty Portfolio
17 UROY’s Uranium Royalty Portfolio Market-leading uranium royalty portfolio with opportunity to use acquired cash flow as a capital engine to accelerate the expansion Diverse Uranium Royalty Portfolio on World Class Assets Large North American & Growing Global Portfolio Royalty Producing Assets Ope
Slide 18: Flagship Uranium Assets in Top Jurisdictions & Top Tier Operators
Flagship Uranium Assets in Top Jurisdictions & Top Tier Operators 18 Uranium Royalty holds interests on leading North American mines Interests on the Largest, High-Grade Mines Emerging Revenue Pipeline McArthur River Langer Heinrich Project ▪ Namibia ▪ 1% GRR on 9% share of Orano’s portion; JV betwe
Slide 19: Upcoming Portfolio Catalysts
Upcoming Portfolio Catalysts 19 Improving uranium price is incentivizing more mines into development and production NEAR-TERM MEDIUM-TERM LONG-TERM 2026 2027 - 2030 2030 and Beyond • Langer Heinrich – Ramp up to • Roughrider - PFS preparation With increasing demand for uranium as steady state annual
Slide 20: Significant Uranium Potential in UROY's Land Holdings
Significant Uranium Potential in UROY’s Land Holdings 20 Opportunity for Uranium Royalty to continue building its uranium portfolio in Wyoming Multiple Uranium Prospective Areas Across UROY’s Land Package (WSGS) • Wyoming is home to the largest known uranium ore reserves in the United States at 350
Slide 21: Oil & Gas Opportunities
URANIUM ROYALTY CORP Oil & Gas Opportunities
Slide 22: Oil & Gas Exploration Has Begun on UROY Land Package
Oil & Gas Exploration Has Begun on UROY Land Package 22 Known oil & gas reserves on adjacent federal lands providing significant potential for new discoveries Known Oil & Gas Reserves Adjacent to UROY’s Land Package = Known gas wells • Wyoming ranked 7th in the nation for crude oil production in 202
Slide 23: Renewable Energy Opportunities
Renewable Energy Opportunities
Slide 24: Significant Opportunities for Renewable Growth
Significant Opportunities for Renewable Growth 24 Wyoming has tremendous clean energy potential • Mountain Wind Project (TransAlta) Strong Wind Potential Within UROY’s Land Package generating royalty revenue • 300,000 areas under lease for potential renewable development(1) with numerous proposed wi
Slide 25: Team and Capital Structure
URANIUM ROYALTY CORP Team and Capital Structure
Slide 26: Experienced Management & Board
26 Experienced Management & Board Management Board of Directors SCOTT MELBYE (President, CEO & Director) AMIR ADNANI (Chairman) ▪ Uranium industry veteran with over 40 years of experience including Executive roles at ▪ Entrepreneur and Founder, President & CEO of Uranium Energy Corp. Cameco, Uranium
Slide 27: Capitalization & Ownership Profile
Capitalization & Ownership Profile 27 SHARE STRUCTURE (September 14, 2026) RECENT ACTIVITY Shares Outstanding 377.2 Million US$4.24 UROY: Nasdaq Avg. Daily Vol.(3-mo): 2,890,000 Exchangeable Shares 3.8 Million Market Cap US$1.60 Billion As of September 14, 2026 Cash + Marketable US$65 Million Option
Slide 28: Emerging need for new production creates mutually beneficial royalty financing opportunities
28 OFFERS INVESTORS: ▪ Robust cash flow profile, long-life assets ▪ Large and diversified royalty portfolio in top jurisdictions ▪ 39 interests on 31 mining and exploration projects across multiple jurisdictions ▪ The largest U.S. non-precious royalty & streaming platform ▪ Leading uranium royalty c
Slide 29: Appendix
URANIUM ROYALTY CORP Appendix
Slide 30: Geographically Diversified Royalty Portfolio
Geographically Diversified Royalty Portfolio 30 Portfolio of royalties across spectrum of project stages Project Stage(1) Operator Royalty Interest Asset Type Alchem Production TATA Chemicals 8% PR(2) Soda Ash American Soda Production Solvay 8% PR(2) Soda Ash Big Island Production Sisecam 8% PR(2) S
Slide 31: Geographically Diversified Royalty Portfolio
Geographically Diversified Royalty Portfolio 31 Portfolio of royalties across spectrum of project stages Project Stage(1) Operator Royalty Interest Asset Type Churchrock Advanced Laramide Resources Ltd. 4% NSR Uranium 6% GORR Dewey-Burdock Advanced EnCore Energy Corp 30% NPR(2) Uranium 2%-4% GVR(2)
Slide 32: Geographically Diversified Royalty Portfolio
Geographically Diversified Royalty Portfolio 32 Portfolio of royalties across spectrum of project stages Project Stage(1) Operator Royalty Interest Asset Type Aberdeen Exploration Geiger Energy Corp 2% GRR(2) Uranium Cree Extension Exploration Cameco Corporation 10% NPI(3) Uranium Dry Creek Trona Ex
Slide 33: The Right Business Model for Critical Mineral Exposure
The Right Business Model for Critical Mineral Exposure 33 The royalty model provides investors with some of the highest sustainable margins in the industry Lower risk and lower Free exposure to volatility through investing in a exploration and diversified portfolio of critical expansion upside and m
Slide 34: Three-Pronged Growth Strategy
Three-Pronged Growth Strategy 34 Focused on growth through acquiring third-party and new royalties or streams, and through M&A Ne w Ro ya es ▪ To date URC’s strategy has been lti ▪ Focused lti ▪ Large number es ya primarily focused on acquiring existing of active discussions Ro and dialogues with pr
Slide 35: Royalty and Streams 101
Royalty and Streams 101 35 “Royalties” are a payment to a royalty holder by a property owner, or project operator, and is typically based on a percentage of the minerals produced and the revenues or profits generated from the property “Streams” are physical commodity purchase agreements where, in ex
Slide 36: Types of Royalties
Types of Royalties 36 ▪ A type of royalty interest entitling the holder thereof to a share of the total revenue stream from the sale Gross Revenue Royalty of production from the property, which may or may not include deductions. GRR may also be referred to as a "gross value royalty" (GVR) or "gross
Slide 37: References
References 37 Operator Mine Capacity Type Claim Source WeSoda Investor Presentation Page 5, Dated: March 3, 2025 https://wesoda.com/documents/alkali-investor-presentation WeSoda Westvaco Current 3.5 Mstpa Accessed: August 13, 2026 WeSoda Investor Presentation, Page 5, Dated: March 3, 2025 https://we
Slide 38: Non-GAAP Measures
Non-GAAP Measures 38 EBITDA Reconciliation Definition and Use of Non-GAAP Measures 2024 2025 (USD$ in thousands) EBITDA is a non-GAAP financial measure defined as net income before interest, taxes, depreciation and amortization. Net Income $43,616 $12,249 Management believes EBITDA provides useful s
Slide 39: Uranium Royalty Corp. Contact
39 UROY: NASDAQ Uranium Royalty Corp. Corporate Office: President & CEO: Toll Free: 1.855.396.8222 141 Union Blvd, Scott Melbye Phone: 604.396.8222 Suite 310, Lakewood, Email: Info@UraniumRoyalty.com CO, 80228 Investor Relations: www.UraniumRoyalty.com USA Phone: 604.396.8222 Email: Info@UraniumRoya