Energy Fuels announces the closing of US $ 700.0 million convertible senior notes offer and full exercise of the option of the initial buyers to buy extra notes

Energy Fuels Inc. (NYSE: UUUU) (TSX: EFR) (“Energy Fuels” or the “Company”) has today announced the closure of the previously announced range of 0.75% convertible senior notes for the initial purchase of their option “), including the exercise of the initial purchase of their option” Notes.

Goldman Sachs & Co. LLC was the only book-running manager for the offer. Cantor acted as head manager and covered call coordinator for the offer. Morgan Stanley acted as head manager for the offer. BMO capital markets and Canaccord Genuity acted as co-managers for the offer.

CEO of Energy Fuels, Mark Chalmers, commented “We are delighted to announce the completion of a substantial milestone of financing, because we are capitalized on the robust market environment. We believe that the convertible banknotes, with an attractive annual coupon of 0.75%, are favorable compared to traditional debt finance. has purchased conversion of the reference, $ 15.35 Per share.

This strategic capital increase strengthens our balance sheet and improves our ability to accelerate our rare earth initiatives, including the expansion of our white Mesa Mill and Donald project in Australia . We are pleased to announce the closure of this offer, which reflects a strong investor sentiment, not only with regard to our rare earth initiatives, but also our cheap, American uranium production, which made an extra possible $ 67.5 million UPSIZING. We believe that this outcome is a clear voice of trust in our team and strategy. ”

Summary of the offer

• Cash interest roupon of 0.75% per year, semi-annual payment investigation on 1 May and 1 November of each year, from 1 May 2026
• Conversion price of approximately $ 20.34 Per general share of energy bands (the “normal shares”), which represents a premium from approximately 32.5% to the last reported selling price of the ordinary shares on the NYSE American on September 30, 2025 Subject to usual adjustments to Anti-Dilution
• The effective conversion price of the banknotes was increased to $ 30.70 (who represents a premium of 100% compared to the last reported selling price of the ordinary shares on the NYSE American On September 30, 2025 ) by purchasing covered call options. The purchase price for the covered call options was approximately $ 53 0.55 million
• Conversions of the notes can be settled in ordinary shares, cash or a combination of ordinary shares and cash, in the election of Energy Fuels. In addition, energy bands will have the right to exchange banknotes in certain circumstances and must be offered to buy back the banknotes when it comes to the occurrence of certain events
• The banknotes will mature on November 1, 2031 unless previously converted, exchanged or purchased

Foresighting statements

This press release contains “Future -oriented information” and “Future -oriented statements” in the sense of United States and Canadian securities legislation, including statements regarding: expectations with regard to the offer and the covered call transactions; Expectations that the company will be able to realize in the proceeds of the covered call; the potential impact of the previous or related transactions on dilution for the ordinary shares and the market price of the ordinary shares or the trading price of the notes; expectations with regard to the project development plans and strategy of the company; and the expected use of the supply of the offer. The words “believe”, “May”, “Wil”, “Testing”, “Continue”, “Anticipate”, “Intens”, “Expected”, “Search”, “” “” Project “,” Purpose “,” Looking “, look at”, “Moving” and similar expressions to identify future -oriented explanations. Forward -looking statements, the current beliefs, estimates and assumptions of Energy Fuels only represent from the date of this press release, and information in this press release should not be trusted as the estimates of Energy Fuels on a subsequent date. These future -oriented statements are subject to risks, uncertainties and assumptions. If the risks materialize or assumptions prove to be incorrect, the actual results may differ considerably from the results that are implemented by these future -oriented statements. Risks include, but are not limited to market risks, trends and conditions and risks that are inherent in the development of projects. These risks are not exhaustive. More information about these and other risks that the results of Energy Fuels can influence is included in its archives at the Securities and Exchange Commission (“SEC”), including the annual report on form 10-K before the end of the year December 31, 2024 Her quarterly report on form 10-q for the quarter ended June 30, 2025 And the future reports that it can be entered at the SEC from time to time. Energy Fuels does not accept an obligation and is currently not intended to update or revise future -oriented statements, either as a result of new information, future events or otherwise, except as legally required.

About Energy Bruies

Energy Fuels is a leading critical mineral company focused on uranium, rare earth elements, heavy mineral sands, vanadium and medical isotopes. Energy Fuels, who owns and operates various conventional and in-situ recovery projects in the West United States is the leading American producer of natural uranium concentrate in recent years, which is sold to nuclear utilities that further process it for the production of carbon -free nuclear energy. Energy Fuels also owns the white mesa mill Utah who has the only complete license and manages conventional uranium processing facility The United States . At the mill, energy bands also produces advanced rare earth element products, vanadium oxide (when market conditions justify), and evaluates the potential restoration of certain medical isotopes from existing uranium process flows that are needed for emerging targeted alpha therapy cancer treatments. Energy Fuels develops three (3) heavy mineral sand projects: the Toliara project in Madagascar ; The Bahia project in Brazil ; and the Donald project in Australia In which Energy Fuels has the right to earn up to 49% interest through a joint venture with astron corporation limited. Energy Fuels is based on Lakewood, Colorado near Denver .

Additional information

The banknotes issued in connection with the offer and the ordinary shares issued by the conversion of banknotes (the “ordinary shares”) will be subject to a legal hold period in accordance with the applicable securities legislation.

The banknotes and the shares spent on the conversion thereof are and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act”), registered on the basis of some state effects laws, or qualified by a prospectus in a province or territory of Canada. The banknotes and the ordinary shares may not be offered or sold in the absent registration of the United States under the Securities Act or an appropriate exemption from registration under the Securities Act. The banknotes were only offered to “qualified institutional buyers” (as defined in Rule 144A under the Securities Act). Offers and sales in Canada were only made on the basis of exemptions of the prospectus requirements of applicable Canadian provincial and territorial securities laws.

This press release is neither an offer to sell, nor the request for an offer to buy the banknotes or other effects and does not constitute an offer to sell or request an offer to buy, or a sale of banknotes or other effects in any jurisdiction in which such an offer, requests or sale is prior to registration or qualification.

The Toronto Stock Exchange (“TSX”) and NYSE American LLC did not approve the information in this press release or does not reject.

When obtaining the approval of the TSX with regard to the offer, the company trusted the company with the exception set out in section 602.1 of the TSX Company Manual available to “be eligible for” eligible expenditure “because the ordinary shares of the company were also mentioned on the Nyse -American LLC in the Supel -Sandendenten in the Senda. to inspect.

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Source Energy Fuels Inc.

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