Uranium Energy Corp (NYSE: UEC), and Radiant Industries Incorporated are pleased to announce a memorandum of understanding where UEC and Radiant have agreed to collaborate on opportunities to advance the shared vision of deploying nuclear energy and building the full nuclear value chain in the United States.

As part of this collaboration, UEC and Radiant are pleased to announce the completion of an initial transaction where UEC will supply U.S. origin uranium concentrates to Radiant at mutually agreed terms.

Microreactors represent an important innovation in nuclear energy at a time when energy security and advancing small modular reactors are of utmost importance to the White House. The growth of nuclear energy in the United States requires a secure, domestic fuel supply chain. The first step in that chain is uranium, and UEC’s Wyoming and Texas operations offer a highly reliable source of U.S.-origin supply — a strategic fit to support Radiant’s Kaleidos Portable Nuclear Microreactor.

Amir Adnani, UEC President and CEO stated:

“Our collaboration with Radiant aligns with UEC’s strategy to lead in the emerging demand for U.S.-produced uranium. With the White House seeking to accelerate the deployment of advanced nuclear technologies, our partnerships with next-generation reactor developers like Radiant and TerraPower, and our role as a supplier to the U.S. Strategic Uranium Reserve, position UEC to strengthen America’s nuclear fuel supply chain and deliver long-term value for shareholders.”

Doug Bernauer, Radiant CEO stated:

“America must lead the way in energy independence. Leveraging a domestic supply of uranium right here in Wyoming through this strategic partnership with UEC is a critical step in our goal to scale production of portable microreactors to 50 a year. From the rocks to the reactors, the US should be seeking to build the entire value-add chain in the US.”

About Radiant

Radiant is building the world’s first mass-produced nuclear microreactors. The company’s first reactor, Kaleidos, is a 1 MW failsafe microreactor that can be transported anywhere power is needed. Founded in 2020, Radiant plans to test its first reactor in 2026, with initial customer deployments beginning in 2028. Radiant’s mission is to mass produce the most economical and reliable portable reactors.

About Uranium Energy Corp

Uranium Energy Corp is America’s largest and fastest growing supplier of uranium needed to produce safe, clean, reliable nuclear energy. UEC is advancing the next generation of low-cost, environmentally friendly ISR mining uranium projects in the United States and high-grade conventional projects in Canada. The Company has three ISR hub-and-spoke platforms in South Texas and Wyoming. These production platforms are anchored by licensed Central Processing Plants that will be served by a pipeline of satellite ISR projects, including seven that already have their major permits in place. In August 2024, operations were restarted, and ramp-up commenced, at the Christensen Ranch Project in Wyoming, sending uranium loaded resin to the Irigaray Plant (Wyoming hub). Additionally, the Company has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of U.S. warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a Western Hemisphere pipeline of resource stage uranium projects. The Company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.