Uranium Royalty (URC) Corporate presentation summary

Strategic positioning and business model

• First mover in applying the royalty and streaming model to uranium, offering nearly 100% exposure to uranium price upside through a diversified portfolio of 27 interests on 24 projects globally.

• Maintains a strong balance sheet with $250M in liquid assets and a physical uranium inventory of 2.38M lbs acquired at cyclical lows, providing strategic flexibility.

• The royalty model delivers high margins, shields from rising mining costs, and offers exploration and expansion upside without direct capital outlay.

• Focused on growth via acquiring existing and new royalties, streams, and M&A, with a flexible approach to funding and partnership.

• Portfolio is diversified across jurisdictions, operators, and development stages, maximizing leverage to uranium market recovery.

Financial performance and portfolio strength

• Market value of uranium inventory stands at $191M, with cumulative gross revenue of $76.8M and gross profits of $16.8M as of October 31, 2025.

• Cash holdings are $51.8M, and marketable securities total $6.9M.

• Revenue is projected to grow significantly from $2.2M in 2026 to $19.6M in 2030, with a free cash flow inflection point forecasted for 2027/2028.

• Nearly 100% unhedged strategy on streamed pounds, notably from McArthur River, enhances upside exposure to uranium price increases.

Market fundamentals and policy environment

• Global uranium market faces a structural supply deficit projected to reach a cumulative 1.75B lbs by 2045, driven by demand to triple nuclear capacity by 2050.

• Uranium prices have rebounded from a 12-year low in 2016 to over $90/lb in early 2026, with fundamentals supporting further appreciation.

• U.S. policy has become highly supportive, with multiple executive orders and legislative acts aimed at revitalizing the domestic nuclear industry and securing uranium supply.

• Major government investments include $80B for new U.S. nuclear plants and $25B for SMRs and data centers, with uranium designated as a critical mineral.