NYSE American: URG | TSX: URE
Goldman Sachs Energy, CleanTech s Utilities Conference
January 5 - 7, 2026
Lost Creek ISR Processing Plant
Ur-Energy - U.S. Uranium Producer s Developer
Ur-Energy is a Wyoming based proven In Situ Recovery uranium producer with
two licensed production sites and multiple uranium exploration sites
Bringing on second ISR mine at Shirley Basin in early 2026 - the 5th ISR mine in the U.S.
Total contracted uranium sales of 1.3M
pounds in 2026
Solid development pipeline for potential uranium resource expansion
Completed $120M convertible
financing in December 2025
Utilizes 100% ISR mining, lower capital intensity than traditional mining - no open pits, underground costs or large equipment fleets
Ur-Energy is one of the few U.S. uranium producers with visible production growth in 2026
Lost Creek ISR Facility, Wyoming
Operating producer with >3.0M lbs. U3O8produced since 2013
13-year remaining mine life with numerous unexplored roll fronts - potential expansion opportunity
1.2M lbs. annual mine capacity and 2.2M lbs. annual plant capacity
- will process loaded resin from Shirley Basin into yellowcake
District scale land position - 5 contiguous exploration properties to
support long term growth
Shirley Basin ISR Facility, Wyoming
Fully permitted, construction well advanced - Start up on track for early 2026
Licensed annual mine capacity of 1.0M lbs; doubling Ur-Energy's production capacity
Low-capex; leveraging existing infrastructure and processing of loaded resin at Lost Creek plant
Historic ISR district; birthplace of ISR uranium mining
U.S. SUPPLY CHAIN
SUPPORTING THE MOVE TO AMERICA'S ENERGY SECURITY
Uranium: Primary fuel used in nuclear powerKey reasons uranium is essential:
High Energy Density: A small amount of uranium yields far more energy than fossil fuels
Sustained Power Generation: Nuclear fuel allows reactors to operate continuously for long periods, providing reliable baseload electricity
Fuel for Current Reactors: Modern commercial reactors are designed specifically to use uranium, typically enriched in the isotope U-235, as their fuel source
Uranium is the basic fuel for nuclear energy because its fission releases heat used to generate electricity in nuclear power stations
Green Nuclear Fuel Demand Is Growing
Global and U.S. Nuclear Demand
Nuclear provides ~20% of U.S. electricity and >50% of
U.S. carbon-free power
Globally, nuclear supplies ~10% of electricity and ~20% of carbon-free generation
438 reactors operating worldwide; 71 under construction(1)
Nearly 120 new reactors ordered and ~314 proposed(1)
SMRs in development or construction in 15 countries(2) ; 3 currently operating. NEI survey indicates the U.S. could see up to 300 SMRs by 2050(3)
Tech companies and data centers increasingly identify nuclear as a preferred source for 24/7 clean power
TerraPower and PacifiCorp are advancing their first
Wyoming SMR, backed by Bill Gates and Warren Buffett
Widening Uranium Supply / Demand Gap
Primary uranium production well below global reactor needs, widening the supply deficit
WNA projects demand rising from a base of ~210M lbs in 2026 to uppercase demand of ~354M lbs by 2040 Secondary supplies and restarts offer limited relief and cannot meet projected reactor growth
Utilities increasingly returning to long-term contracting, tightening the market further
(1) as of December 2025; (2) as of July 2025; (3) as of July 2022
Lost Creek ISR MineDrum of yellowcake at Lost Creek
Lost Creek ISR Facility, Wyoming
Optimizing throughput and production
Four header houses deployed in 2025, to support
additional injection and production wells
12.68M lbs. Measured and Indicated Resource at 0.048% grade and 6.12M lbs., Inferred Resource at 0.043% grade
Historically low operating costs. Q3 operating costs of
$43 per pound and trending lower
13-year remaining mine life with numerous unexplored roll fronts
1.2M lbs. per year mine capacity and 2.2M lbs. per year plant capacity
Q3 2025: Dried and packaged 93,523 lbs. U₃O₈
Q3 2025: Shipped 70,190 pounds of yellowcake to the conversion facility, and an additional 69,604 pounds after quarter-end, through 11/3/2025
Lost Creek Property Mineral Resource Scalability~35,000 Acres in Six Project Areas
Lost Creek in production since 2013, ~90% resource recovery
Royalty burden averages <1%
throughout the six-projects
Resources can all be pipelined into the existing Lost Creek plant
Opportunity to grow the resource through exploration (lateral and at depth)
Shirley Basin ISR Mine - Q1 Start UpShirley Basin ISR Facility, Wyoming
Restarting uranium production in the historic Shirley Basin district - over 50 million pounds produced throughout the district. The first ISR mine location in the world* dating back to the 1960s
8.8M lbs. Measured and Indicated Resource at 0.23% grade. Estimated nine year mine life
Licensed annual mine capacity of 1.0M lbs. Loaded resin to be transported to Lost Creek for processing, avoiding cost of full processing facilities
Estimated operating cost of $24.40 per pound and all in cost of ~$50, at full production
Fully permitted and construction nearly complete, refurbishing and upgrading existing site infrastructure -Processing plant construction well advanced
10,000 sq. ft. modular operations office completed
Production start-up on target for early 2026
* World Nuclear Association
Shirley Basin Construction AdvancingShirley Basin Processing Plant Construction, December 31, 2025
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