ENERGY FUELS INC./  CA2926717083  /

Energy Fuels Inc. and its subsidiary companies are engaged in uranium extraction, recovery and sales of uranium from mineral properties and the recycling of uranium-bearing materials generated by third parties. As a part of these activities, the Company also acquires, explores, evaluates and, if warranted, permits uranium properties. The Company’s final uranium product, uranium oxide concentrate (“U O ” or “uranium concentrate”), is sold to customers for further processing into fuel for nuclear reactors. The Company produces vanadium as a co-product of its uranium recovery from certain of its mines as market conditions warrant and from time-to-time from solutions in its tailings impoundment system. The Company is in the process of ramping up to expected commercial-scale production of mixed REE (rare earth elements) carbonate in 2021 for the recovery of REEs and uranium.