First Energy Fuels (UUUU) Corporate Media Kit

VANADIUM ENERGY FUELS PRODUCES VANADIUM IN RESPONSE TO MARKETS • Vanadium used in steel, high-strength alloys, aerospace, chemicals & grid-scale battery technologies • Critical mineral in U.S. and Canada • Pending Section 232 in the U.S. (status unknown) • TheWhite Mesa Mill was the #1 U.S. producer of vanadium (V 2 O 5 ) in 2019 • Produced 1.9 million pounds of high-purity (99.7%+) V 2 O 5 at theWhite Mesa Mill from tailings solutions • 1.7 million lbs. currently in inventory (valued at $13.6 million at today’s price of $8.00 per lb. 1 ) • Additional ~1.5 – 3.0 million lbs. of recoverable inventory in tailings solutions • Plan to sell inventory & resume production when market conditions warrant • White Mesa Mill has produced over 50 million pounds of V 2 O 5 during its history • V 2 o 5 prices are up 70% since December 2020 18 1 Metal Bulletin Mid-Point Spot Price