URANIUM ENERGY CORP. LARGEST & DIVERSIFIED
NORTH AMERICAN
FOCUSED
URANIUM COMPANY
Corporate Presentation - June 2024
URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM
Disclaimer
Statements contained in this presentation which are not historical facts are forward-looking statements that involve risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause such differences, without limiting the generality of the following, include: risks inherent in exploration activities; volatility and sensitivity to market prices for uranium; volatility and sensitivity to capital market fluctuations; the impact of exploration competition; the ability to raise funds through private or public equity financings; imprecision in resource and reserve estimates; environmental and safety risks including increased regulatory burdens; unexpected geological or hydrological conditions; a possible deterioration in political support for nuclear energy; changes in government regulations and policies, including trade laws and policies; demand for nuclear power; failure to obtain necessary permits and approvals from government authorities; weather and other natural phenomena; and other exploration, development, operating, financial market and regulatory risks. Although Uranium Energy Corp believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this release. Uranium Energy Corp. disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future event or otherwise.'
Mineral Resource Estimates: The mineral resource estimate has been prepared using industry accepted practice and conforms to the disclosure requirements of Subpart 1300 of Regulation S-K. Mineral reserve and mineral resource estimates are evaluated annually providing the opportunity to reassess the assumed conditions. Although all the technical and economic issues likely to influence the prospect of economic extraction of the resource are anticipated to be resolved under the stated assumed conditions, no assurance can be given that the estimated mineral resource will become proven or probable mineral reserves. All U.S. resources have been reviewed and approved for disclosure by Clyde L. Yancey, P.G., SME Registered Member, who is considered a Qualified Person under Subpart 1300 of Regulation S-K. All Canadian resources have been reviewed and approved for disclosure by Chris Hamel, P.Geo., who is considered a Qualified Person under Subpart 1300 of Regulation S-K.
Exploration Target: is a statement or estimate of the exploration potential of a mineral deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnage and a range of grade (or quality), relates to mineralization for which there has been insufficient exploration to estimate a mineral resource.
2 | URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM |
Fundamentals Favor Significant Price Appreciation Prices Still Well Below Previous Highs
US $/lb U308
$160 | Spot Daily | Long Term | |||
$140 | $138.00 | $90.00(1) | ||||||||||||||||||||||||||||||||||||||||||||||
$80.00(2) | ||||||||||||||||||||||||||||||||||||||||||||||||
2005: | ||||||||||||||||||||||||||||||||||||||||||||||||
$120 | ||||||||||||||||||||||||||||||||||||||||||||||||
Major Mine Disruptions | ||||||||||||||||||||||||||||||||||||||||||||||||
$70.00 | ||||||||||||||||||||||||||||||||||||||||||||||||
(Cigar Lake, McArthur | ||||||||||||||||||||||||||||||||||||||||||||||||
River) | ||||||||||||||||||||||||||||||||||||||||||||||||
$100 | ||||||||||||||||||||||||||||||||||||||||||||||||
2011: | ||||||||||||||||||||||||||||||||||||||||||||||||
$80 | Fukushima event | |||||||||||||||||||||||||||||||||||||||||||||||
$60 | ||||||||||||||||||||||||||||||||||||||||||||||||
$40 | ||||||||||||||||||||||||||||||||||||||||||||||||
$20 | Financial Crisis | |||||||||||||||||||||||||||||||||||||||||||||||
Nov 2016: $17.75/lb | ||||||||||||||||||||||||||||||||||||||||||||||||
12 year low | ||||||||||||||||||||||||||||||||||||||||||||||||
$0 | ||||||||||||||||||||||||||||||||||||||||||||||||
Jun 2004 | Jun 2009 | Jun 2014 | Jun 2019 | Jun 2024 |
Source: (1) TradeTech June 3, 2024 (2) TradeTech May 31, 2024
3 | URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM |
Reactor Demand Significantly Exceeds Primary Production
2024 Global(1)
Demand expected ~ 197 M lbs. Production expected ~ 155 M lbs.
Production gap is ~ 41 M lbs. below requirements
U.S. = Largest Demand for Uranium
2024 U.S. Demand Projected at 47.2 M lbs.(2)
Russia, Kazakhstan, & Uzbekistan Supplies 48% of U.S. Uranium Demand
450Demand- Call to triple global
Global Supply and Demand(1) nuclear capacity by 2050
400
350
Cumulative gap(1)
In 2025 is ~66 M lbs. By 2034 is ~406 M lbs.
By 2040 Mid Case > 1.14 B lbs. By 2040 High Case > 1.28 B lbs.
Million Pounds U3O8
300 | Demand- High Case |
250
Demand- Base Case
200
150
Primary Supply
100
50
Secondary Supply
0
2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040
Source: (1) UxC Market Outlook Q1 2024 (2) WNA 2023-2040 Nuclear Fuel Report
4 | URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM |
Nuclear Power Strategically Positioned to Fill Data Center Energy Demand
The AI Boom Will Require Large Increases in Electricity Generation
- Data Center Energy Demand is growing with large power requirements; a hyperscaler's data center can use as much power as 80,000 households
- In the U.S market, demand, measured by power consumption is expected to reach 35 GW by 2030E, up from 17GW in 2022A
- Nuclear is the only 24/7 green baseload power generation solution that can be scaled alongside forecasted demand
March 04, 2024
Amazon.com is making a push into nuclear energy
by acquiring a nuclear powered data center in
Pennsylvania, marking its first-ever agreement with a
nuclear power facility
Source: Citi Data Center Demand and Nuclear Power: February 2024
January 23, 2024
Microsoft hires a director of nuclear technologies to oversee a program to develop small-scale nuclear reactors to power datacenters
5 | URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM |
Russian Uranium Imports Ban Has been Signed Into Law-
Unlocks $2.72B to Ramp Up Domestic Uranium Fuel Production
May 13, 2024 - President Biden signs into law the "Prohibiting Russian Uranium Imports" Act (H.R. 1042), which prohibits the importation of unirradiated, low-enriched uranium that is produced in the Russian Federation or by a Russian entity.
Key Nuclear Details Surrounding the Bill Include:
- The bill bans Russian uranium imports 90 days after enactment but allows a temporary supply waiver on a case-by-case basis until January 20281 if:
- no alternative viable source of low-enriched uranium is available to sustain the continued operation of a nuclear reactor or a US nuclear energy company
- importation of the uranium is in the national interest, which will remain in place until the end of 2027.
- The bill unlocks $2.72 Billion in funding to ramp up domestic uranium fuel production under the "Nuclear Fuel Security Act" that Congress included in Fiscal Year 2024 "National Defense Authorization Act"2
- House Foreign Affairs Committee holding hearings to press for sanctions specifically on Russia's Rosatom
- Russian retaliation on American exports with an embargo possible
Source: (1) Bloomberg.com, US House Approves Russian Uranium Import Ban December 11, 2023 (2) NEI March 11, 2024
6 URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM
UEC U.S. Production Restarting August 2024 - 100% Unhedged, Full Spot Market Exposure
$564 Million | Fastest Growing North American Uranium Company | |
Rosatom's Uranium One Americas, UEX, Rio Tinto's Roughrider Project, and | ||
Accretive Acquisitions(1) | ||
a portfolio of Canadian uranium exploration projects from Rio Tinto | ||
226.2 M lbs. M&I | ||
Creating the Largest Diversified North American Focused Portfolio | ||
102.7 M lbs. Inferred | 3x increase of total resources | |
U3O8 Resources(2) | 4x increase of production capacity | |
8.5 M lbs. U3O8 | ||
Largest, Fully Permitted, Low-Cost ISR Projects Resource Base | ||
U.S. Licensed Capacity/ Year(3) | of Any U.S. Based Producer | |
$332.5 Million | ||
Strong Balance Sheet, No Debt | ||
Cash & Liquid Assets(1) | ||
Physical Uranium | Cumulative to Jan 31, 2024: | |
1,166,000 lbs of Inventory on hand | ||
Portfolio | ||
1,000,000 lbs. to be purchased by UEC through Dec 2025 at avg cost of ~$39/ lb. | ||
7 | URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM |
HOBSON PLANT - TEXAS HUB & SPOKE OPERATIONS
IRIGARAY PLANT - WYOMING HUB & SPOKE OPERATIONS
(1) UEC quarterly report for the quarter ended Jan 31, 2024 (2) Does not include the Kiggavik, Wheeler River, or West Bear project resources. Refer to the appendix for a detailed breakdown of resources | |
reported under S-K 1300, note the Disclaimer on Slide 2, and the Company's technical reports on SEDAR+ and EDGAR (3) UEC press release dated Nov 17, 2022 | ATHABASCA BASIN , HIGH-GRADE CONVENTIONAL PORTFOLIO |
Disciplined Growth Strategy
Acquisitions through the bottom of the Uranium Cycle
$110.00
$100.00
$90.00
$80.00
$70.00
$60.00
$50.00
$40.00
$30.00
UEC Acquisition Timeline and Uranium Spot Price(1) ($/lb)
Recent
U3O8 Price:
$89.75/lb
UEC Acquisitions since 2017 at uranium prices ranging from $20 to $45 per pound
Start of Physical
Uranium Program
North Renoat $27/lb
Creek
Roughrider
UEX
$20.00 | Uranium | ||
Reno | |||
Diabase | One | ||
$10.00 | Creek | ||
$0.00 |
201620172018201920202021202220232024
8 | URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM |
- Source: Uranium price per UxC as of June 3, 2024
- Uranium price at time of acquisition based on weekly U3O8 prices per UxC.
Creating Value by Delivering on a Production Pipeline
328.9 Million lbs. (226.2 M&I / 102.7 Inf.)(1)
Resource Expansion | Advanced | Production Restarting |
Athabasca Joint | UEC-Operated |
Athabasca Projects | |
Ventures | |
44.6 Mlb. M&I | 65.3 Mlb. M&I | |
52.9 Mlb. Inf. | ||
18.2 Mlb. Inf. | ||
Arizona | ||
Paraguay | 32.0 Mlb. M&I | |
4.5 Mlb. Inf. | ||
9.0 Mlb. M&I | ||
2.2 Mlb. Inf. | ||
Texas &
Wyoming ISR
75.3 Mlb. M&I
25.0 Mlb. Inf.
- Does not include the Kiggavik, Wheeler River, or West Bear project resources. Refer to the appendix for a detailed breakdown of resources reported under S-K 1300, note the Disclaimer on Slide 2, and refer to the Company's technical reports on SEDAR+ and EDGAR
Wyoming Hub & Spoke ISR
Portfolio
Texas Hub & Spoke ISR Portfolio
10 URANIUM ENERGY CORP | NYSE AMERICAN: UEC | URANIUMENERGY.COM
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Uranium Energy Corp. published this content on 04 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2024 10:31:03 UTC.
