NYSE American: URG | TSX: URE
Ǫ2 2026 Earnings and Operations Conference Call - August 11, 2026Lost Creek ISR Processing Plant
Powerful Nuclear and Uranium Market Tailwinds
A New Era of Nuclear Growth
Global capacity projected to nearly double by 2040.
A Generational Uranium Bull Market
A widening structural supply deficit is expected to support long-term uranium demand.
The Race to Reshore U.S. Uranium Supply
Energy security continues to accelerate investment in domestic uranium production and fuel supply chains.
Ur-Energy's Competitive Position
Building America's first district-scale ISR uranium operation through disciplined, low-capital growth.
Ǫ2 2026 Operational Execution
HIGHLIGHTS1
Record Ǫuarterly Production2
140,873 lbs U₃O₈ (+47% ǪoǪ; +26% YoY)
Higher Shipments
149,747 lbs U₃O₈ (+44% ǪoǪ; +42% YoY)
Executed Contracted Sales
215,000 lbs U₃O₈; $14.4M sales revenue3
Low-Cost Production
$40.20/lb cash cost (+7% ǪoǪ; -6% YoY)4
Strong Liquidity
$95.3M unrestricted cash at quarter-end
Finished Inventory
348,292 lbs U₃O₈ (-17 ǪoǪ; +10% YoY)5
ǪoǪ refers to Ǫ2 2026 compared to Ǫ1 2026; YoY refers to Ǫ2 2026 compared to Ǫ2 2025.
Pounds drummed.
All sales were under long-term contracts.
Includes ad valorem and severance taxes but excludes non-cash costs
Pounds in inventory at conversion facility.
Inside of Lost Creek Header House
140,873 lbs drummed in Ǫ2 2026, highest quarterly production since the Lost Creek restart
Sand Filtration System installed in Ǫ2 2026 and online in July to address fine particles and increase flow and production
Additional Infrastructure enhancements underway, including wastewater treatment facility and reverse osmosis upgrades
17 active drill rigs supporting wellfield expansion
Advancing Mine Unit 5 with wellfield construction expected by year-end, subject to regulatory approval
Positioned to continue increasing production through 2026 and beyond
Shirley Basin Ready to Commence Shipments
Reviving an historic Wyoming ISR district
Successful Commissioning
Captured 10,634 lbs. U₃O₈ in Ǫ2 2026 during initial operations. Six production columns now online, all ten expected online by end of Ǫ3 2026.
Plant in Full Operations G Ready to Ship
All plant infrastructure and processes in place.
Optionality
Operating as a spoke today while retaining the flexibility to transition to a standalone production hub as the Great Divide Basin expands.
Capital Efficiency
Leveraging the Lost Creek hub maximizes capital efficiency while accelerating cash flow.
Optimization
Initiatives to continue through 2027 to enhance long-term operating performance.
Advancing the Growth Pipeline
Lost Creek South
120-Hole Exploration Program planned to commence in Ǫ3 2026.
Near-mine Expansion Opportunity. Potential to leverage existing Lost Creek infrastructure and lower future development costs.
Lost Soldier
Baseline Environmental Studies. Underway to support future permitting.
Technical Report with Resource Estimate. Expected by year-end 2026, advancing a potential satellite operation to Lost Creek.
North Hadsell
Growth Opportunity. 13 of 33 Drill Holes intersected uranium. Will continue evaluation following encouraging Ǫ1 drilling results.
Executing Our Growth Strategy
Increase uranium production and cash flow through Lost Creek optimization and Shirley Basin ramp-up.
Expand our district-scale ISR production platform across Wyoming.
Advance pipeline of low-capital intensive satellite mine opportunities to support long-term growth.
Maintain industry-leading permitting and operational execution and low-cost production profile.
Leverage the growing strategic importance of domestic
U.S. uranium production.
Deliver sustainable long-term value through disciplined growth and capital allocation.
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