UEC · Uranium Energy Corp.

The commencement of production at Burke Hollow represents a material operational milestone for Uranium Energy Corp., transitioning the project from over a decade of exploration and permitting to commercial output. As the world’s newest ISR uranium mine and the first new U.S. ISR operation since 2015, this achievement directly expands UEC’s licensed production capacity and validates its hub-and-spoke ISR strategy across South Texas and Wyoming. With Burke Hollow now online alongside recently expanded capacity at Christensen Ranch, UEC becomes the sole U.S. uranium producer operating two active ISR platforms—a structural advantage in an industry characterized by high regulatory barriers and long lead times. Production processing at the Hobson Central Processing Plant—licensed for up to 4 million pounds annually—provides near-term scalability without requiring new central infrastructure investment. The project’s large land position (~20,000 acres) and early-stage exploration status (only ~50% explored) imply significant optionality for future resource growth and wellfield deployment, reinforcing UEC’s claim to the largest uranium resource base in the United States. Importantly, the filing emphasizes that all production remains 100% unhedged, aligning shareholder exposure directly with uranium price fundamentals—particularly relevant amid strengthening U.S. policy support for domestic nuclear fuel supply chain resilience.