enCore Energy (EU) Corporate presentation summary

Strategic positioning and market environment

• Operations underway at Alta Mesa and Rosita Central Processing Plants, with a pipeline of advanced U.S. uranium projects and 100% in-situ recovery extraction methods in place.

• U.S. uranium demand is rising sharply while domestic production remains minimal, creating a significant supply gap and national security concerns due to reliance on imports from Russia, Kazakhstan, and Uzbekistan.

• Recent U.S. policy initiatives and executive orders prioritize domestic uranium production, streamline permitting, and allocate substantial funding to support nuclear energy expansion.

• Global uranium market is robust, with spot prices exceeding $100/lb in early 2026 and strong institutional support for nuclear energy as a clean power source.

Operations, assets, and resource base

• Alta Mesa CPP operates under a 70/30 joint venture, with a design capacity of 2 million lbs U3O8 per year and ongoing wellfield expansions.

• Rosita CPP has an 800,000 lbs annual capacity, utilizes modular satellite IX plants, and is expanding with new wellfields and increased throughput.

• Dewey Burdock and Gas Hills projects are advancing, with Dewey Burdock targeting 750,000 lbs/year over 28 years and Gas Hills aiming for 880,000 lbs/year over 11 years, both with strong IRRs and low operating costs.

• Total measured and indicated resources exceed 30.94 million lbs, with an additional 20.54 million lbs inferred across all projects.

• Proprietary Prompt Fission Neutron (PFN) technology and exclusive uranium databases provide competitive advantages in exploration and resource assessment.

Contracting, sales, and financials

• Contracting strategy blends inflation-adjusted price floors and ceilings with significant spot market exposure, currently contracting less than 38% of planned extraction through 2033.

• Market capitalization stands at $489 million USD, with a fully diluted share count of 202.5 million and a $115 million convertible note.

• Ongoing non-core asset divestment and technology investments support financial flexibility and shareholder value.