Ur-energy Inc. · TSX:URE
Ur-energy — Investor Presentation (October 2026)
24 slides from Ur-energy's investor presentation, October 2026
Slide 1: Building America's Uranium Powerhouse
BUILDING AMERICA’S URANIUM POWERHOUSE NYSE AMERICAN: URG | TSX:URE October 2026
Slide 2: Disclaimer
Disclaimer Cautionary Note Regarding Forward-Looking Statements: This presentation contains “forward-looking statements” within the meaning of applicable securities laws regarding events or conditions that may occur in the future, including the Company’s ability and timing at Lost Creek and Shirley
Slide 3: America's Fastest Growing ISR Uranium Producer
America’s Fastest Growing ISR Uranium Producer Rebuilding Wyoming’s uranium district in a new era of nuclear energy UR-ENERGY | YOUR URANIUM POWERHOUSE PAGE 03
Slide 4: Dynamic Growth, Unrivaled Execution, Revenue Generator
DYNAMIC Operational capacity increased ~60% in 2026.1 GROWTH Rapid ramp up of processing facility and 2nd mine underway. UNRIVALED Continued successful rollout of growth strategy EXECUTION Dozens of rigs deployed for current and expanding production. OPERATIONAL ISR mining is low cost, low risk, and
Slide 5: Nuclear energy enters new era of growth
Geopolitical conflict has fundamentally altered energy strategy around the world Nuclear energy New nuclear programs in major economies throughout EU, N. America, Asia, and Middle East enters new era Commercial small modular reactors now a reality with multiple units under construction globally of g
Slide 6: A Generational Uranium Bull Run
A Generational Uranium Bull Run Uranium is facing a sustained structural supply deficit driven by Insufficient primary supply from mining and dwindling secondary supply Nuclear power growth projected to further widen uranium’s structural supply deficit After a decade-long bear market, and extended d
Slide 7: The Race to Reshore US Uranium Supply
The Race to Reshore US Uranium Supply A new era of geopolitical conflict has transformed the strategic importance of reliable, domestic uranium production o US imports >90% of uranium, including from high-risk sources such as Central Asia o Uranium a matter of US national security o US aggressively
Slide 8: US Annual Uranium Production and Imports: Historical and Projected to 2040
US ANNUAL URANIUM PRODUCTION AND IMPORTS: HISTORICAL AND PROJECTED TO 2040 M lbs U3O8 Assumes broad development of US undeveloped and idled deposits & market to support sustained production. Includes projects with announced or probable development plans and expected restart of idled capacity. Source
Slide 9: The Fastest Growing ISR Uranium Producer in the US
The Fastest Growing ISR Uranium Producer in the US Ur-Energy is leading the race to rebuild America’s largest and most profitable in situ recovery (ISR) uranium district The largest domestic ISR uranium company by lbs produced1 The fastest growing domestic ISR uranium company by lbs Production from
Slide 10: Ur-Energy's In-Situ Recovery (ISR) Advantage
Ur-Energy’s In-Situ Recovery (ISR) Advantage A clear competitive edge for America’s fastest-growing producer IN-SITU RECOVERY (ISR) CONVENTIONAL CONVENTIONAL WHY ISR IS SUPERIOR UR-ENERGY'S APPROACH OPEN PIT UNDERGROUND LOWER CAPITAL INVESTMENT LOW HIGH VERY HIGH Typical for ISR projects LOWER OPERA
Slide 11: Wyoming: America's Strategic Uranium District
Wyoming: America’s Strategic Uranium District Host to major untapped deposits in porous rock, ISR mining is unlocking the potential of Wyoming With the largest quantity of reserves in the United States, and highly prospective geology, the re-emerging district is positioned to become an ISR uranium p
Slide 12: Ur-Energy's District-Scale Uranium Play
Ur-Energy’s District-Scale Uranium Play With two operations already in production, Ur-Energy is building America’s first district-scale ISR uranium operation o Highly optimized hub-and-spoke model designed for rapid growth. o Two mines (Lost Creek and Shirley Basin) already in production and ramping
Slide 13: Operating Mine Resources by the Numbers
Operating Mine Resources by the Numbers In H1 2026, Lost Creek became America’s Largest ISR Uranium Mine; Shirley Basin was brought Online and is Ramping Up Fast LOST CREEK1 SHIRLEY BASIN2 Commenced Production Q3 2013 Q2 2026 MRE Measured & Indicated* 11.9M lbs @ 0.048% U3O8 9.1M lbs @ 0.22% U3O83 M
Slide 14: Organic, Low-Capex Growth Pipeline
Organic, Low-Capex Growth Pipeline Lost Creek and Shirley Basin are just the start. Ur-Energy is advancing potential new satellite mines in the prolific uranium state of Wyoming. UR-ENERGY | YOUR URANIUM POWERHOUSE PAGE 14
Slide 15: Potential Production Project Opportunities
POTENTIAL PROJECT OPPORTUNITY STATUS CATALYST PRODUCTION SHIRLEY BASIN Full ramp up of Lost Creek and newly Ramp up underway Increased production Full ramp up AND LOST CREEK commissioned Shirley Basin mine – leading to H2 2026 expected by expected rapid increase of cash flow. 2028 LOST Deposit defin
Slide 16: From Mine Restart to a Dual Hub-and-Spoke ISR Platform
From Mine Restart to a Dual Hub-and-Spoke ISR Platform Unmatched operational experience and deep management expertise have transformed Ur-Energy into a scalable domestic uranium production platform. DEC 2022 MAR 2024 FY 2025 APR 2026 AUG 2026 LOST CREEK RAMP-UP SHIRLEY BASIN BUILDOUT THROUGHPUT SHIR
Slide 17: Leadership Built for US Uranium Growth
Leadership Built for US Uranium Growth BOARD Deep bench of mine builders, ISR operators, permitting KATHY E. WALKER 40 years across energy, mining and finance; former GE Chair of the Board mining subsidiary management roles; extensive board and specialists and capital markets leaders. economic devel
Slide 18: Capital Structure
Capital Structure UR-ENERGY NYSE:URG / TSX:URE Top Institutions and Share Price (9/04/26) 52 Week High/Low (9/04/26) US$1.40/C$1.93 US$2.35/$1.12, C$3.30/$1.59 Fund Holdings Average Daily Volume (3 month) (9/04/26) ~9.7M Shares, (US+CAN) Sprott Uranium Miners ETF Jun -30 -2026 10.8% Market Cap (9/04
Slide 19: Ur-Energy: An American ISR Platform Built To Scale
Ur-Energy: An American ISR Platform Built To Scale Producing now and advancing a district-scale Wyoming pipeline into a structural uranium bull market. PRODUCING + Lost Creek and Shirley Basin create a two-asset SCALING NOW Wyoming ISR production platform. LICENSED CAPACITY 4.2M lb/yr combined annua
Slide 20: Contact
CONTACT CORPORATE HEADQUARTERS 1478 Willer Drive Casper, WY 82604 Tel: +1 307-265-2373 COLORADO OFFICE 10758 W Centennial Road Littleton, CO 80127 INVESTOR RELATIONS & MEDIA Rich Matthews Tel. +1 604-355-7179 Info@Ur-Energy.com
Slide 21: Appendix: Global Uranium Supply Has a Risk Issue
APPENDIX: GLOBAL URANIUM SUPPLY HAS A RISK ISSUE New Canadian supply is valuable, but much of it is deep, technically complex and requires a long permit and build period. ~54% of 2025 global mine output came from Kazakhstan + Africa Kazakhstan: 40% | Namibia, Niger and South Africa: ~13-14% Canadian
Slide 22: Lost Creek Operation Snapshot
Lost Creek Operation Snapshot The largest US uranium mine by production with 3.5 million lbs U₃O₈ produced since 2013 o Six contiguous projects covering 55 miles2 o 57,479 lbs. U₃O₈ drummed April 2026, strongest month since 2023 restart; flow rate optimization continuing o Existing ISR infrastructur
Slide 23: Contracting Strategy
Contracting Strategy Contract structures secure substantial revenues while allowing downside protection and upside exposure BASE CONTRACTED YEAR DELIVERIES (LBS U3O8)1 o Combination of escalated fixed pricing and market- 2026 1,000,000 related pricing with floors and ceilings 2027 1,300,000 o Uncont
Slide 24: Appendix: Federal and Wyoming Policy Tailwinds
APPENDIX: FEDERAL & FEDERAL POLICY TAILWINDS WYOMING: ISR-READY JURISDICTION WYOMING SUPPORT FOR U.S. Uranium Reserve Lost Creek expansion approvals US ISR URANIUM Ur-Energy awarded DOE/NNSA sale of 100,000 lb U3O8 Wyoming LQD approved LC East HJ/KM Permit to Mine at $64.47/lb; delivered Jan. 2023 w