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Uranium Energy Corp Files Fiscal 2022 Annual Report, Transformative Year with Industry Leading Growth to Become the Largest, Diversified North American Focused Uranium Company

Uranium Energy Corp.

Fiscal 2022 Growth, Balance Sheet, Projects, Resources, and ESG Highlights as of September 29, 2022:

  • Industry leading growth with the two accretive acquisitions of Uranium One Americas, Inc. (“U1A”) and UEX Corporation (“UEX”).
  • Acquired U1A for $125 million in cash, doubling U.S. production capacity in three key categories: total number of permitted In-Situ Recovery (“ISR”) projects, resources and processing infrastructure.
  • Acquired UEX for $171.3 million in stock, which is expected to double total resources in all categories in the world-class, politically stable and uranium mining friendly jurisdiction of Canada, leading to the creation of the largest diversified North American focused uranium company.
  • $173.3 million of cash and liquid assets, no debt, comprised of $48.6 million in cash, $39.5 million in equity holdings and $85.2 million in physical uranium inventories as of September 29, 2022.
  • Expanded physical portfolio of U.S. warehoused uranium (“Physical Portfolio”) to 5.5 million pounds, resulting in an average cost of ~$37 per pound with various delivery dates through December 2025.
  • Revenue of $22.95 million from spot market sales of 500,000 pounds of uranium inventory at a weighted average price of $45.90 per pound, realized gross profit of $7.2 million for the fiscal year ended July 31, 2022.
  • Current inventory balance stands at 1.766 million pounds in the Physical Portfolio with a market value of $85.2 million based on a current spot price of $48.25 per pound (UxC Price September 29, 2022 – ConverDyn U.S. delivery).
  • Became debt free by repaying the $10 million balance of the Company’s secured credit facility.
  • Completed settlement of $18.34 million of indebtedness owed by Anfield Energy Inc. (“Anfield”) to U1A along with exchanging 25 of Anfield’s Wyoming ISR projects for UEC’s conventional Slick Rock Project located in Colorado.
  • Completed S-K 1300 technical reports with totals of 116,341,900 pounds of U3O8 Measured and Indicated resources and 27,180,800 pounds of U3O8 Inferred resources. This does not include pending resource reports for the recently acquired UEX projects.
  • Completed and filed the largest S-K 1300 uranium resources reported in the United States combining UEC’s recently acquired U1A and Anfield assets together with the Reno Creek Project.
  • Completed 105 monitor wells at the Burke Hollow Project’s initial Production Area, one of the newest and largest ISR wellfield being developed in the U.S.
  • Following the filing of the 10-K report, an inaugural sustainability report will be published to highlight the Company’s Environmental, Social and Governance (“ESG”) program and the successful initiatives.

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