Environment Responsibility

I am honored to step into the role of CEO of Energy Fuels and continue the legacy of sustainability, including doing things the right way that has been a central theme for so many years. This is a pivotal point in time when the Company is expanding its impact and strengthening its position as a leading producer of materials that support a clean, resilient energy future and provide critical minerals needed for national security. Our strategy is clear: grow responsibly, maintain the trust of stakeholders, and deliver long-term value to customers, investors, our people and the communities where we operate.

Sustainability is essential to achieving that strategy. It means setting high standards for environmental stewardship, safeguarding the health and safety of our workforce, and operating with robust governance and ethical integrity. It also means proactively engaging with communities and Indigenous peoples, meeting and striving to exceed regulatory requirements, and continually raising our performance—applying best industry practices consistently across our operations and development projects in all corners of the globe.

I am encouraged by the strong governance foundation already in place, including Board-level oversight through the EHSS Committee and the frameworks that support accountability and transparency. As we continue our transition to a more global and vertically integrated company, we will keep strengthening leadership and capabilities to ensure sustainability considerations remain integrated into decision-making and execution.

I am excited to share this report which outlines our progress, key achievements, and areas of focus as we build on our track record and pursue continuous improvement. I want to thank our employees for their professionalism and dedication—your work is fundamental to our performance and our reputation. Looking ahead, we will stay focused on responsible growth, strong operational and financial discipline, and meaningful relationships with our stakeholders as we help deliver the resources the world needs, produced the right way.

Ross Bhappu
President and CEO of Energy Fuels

On behalf of the Energy Fuels Board EHSS Committee, we extend our sincere thanks to everyone who contributed time, expertise, and care to develop this Sustainability Report. This work reflects a shared commitment across the organization to transparency, continuous improvement, and responsible environmental and social stewardship.

This has been a global effort by a worldwide team of regulatory, operations, and sustainability experts in our offices at every level of the company as well as outside advisors and agencies.

Thank you for your dedication and collaboration in bringing this report to completion.

Board EHSS Committee

Energy Fuels 2025 Sustainability Report — Highlights

Commitment

Energy Fuels produces critical materials responsibly to support clean-energy technologies, prioritizing environmental stewardship, safety, and community wellbeing.
The 2025 report highlights our evolution into a diversified supplier of uranium, REEs, vanadium, titanium and zirconium minerals, and a developing medical isotopes program.

Environment

Water: ~1.9M m³ used in 2025; 25% reused/recycled.
Air: Zero non-compliance incidents in 2025; monitoring keeps emissions below limits.
Biodiversity: Kenya & Madagascar nurseries propagated 500+ indigenous species; Madagascar grown 102,780 plants/trees to date, including representatives of 31 IUCN Red List threatened species.

Clean Energy & Innovation

Uranium: Since 2017, 66% of U.S. production; 1,015,000 lbs U₃O₈ recovered in 2025.
REEs: Phase 1 separation circuit at White Mesa Mill (850–1,000 tonnes NdPr oxide/yr) commissioned; expansion target: 6,000 t/yr by 2029.
Targeted recycling: Using processing expertise to recover critical materials that would otherwise be lost to direct disposal, incl. 249,000 lbs U₃O₈ recovered in 2025.
Medical isotopes: Researching radium recovery for targeted alpha-therapy (TAT) cancer treatments.

Social

People: 1,069 employees worldwide (December 2025).
Kenya community investment: $1.38M in 2025 for education and training, infrastructure, and livelihood improvement programs.
San Juan County Clean Energy Foundation: $525K in 2025 for STEM, public safety, food security, and restoration grants.
Stakeholders: Agreement with the Navajo Nation on safe uranium transport and abandoned mine cleanup support.

Governance

Board: 89% independent; 22% female.
Ethics: 99% completion of anti-bribery/anti-corruption training (2025); no substantiated corruption/bribery cases.
Procurement: 86% of 2025 spend with national suppliers.

Next Steps

Expand REE capacity at White Mesa Mill.
Advance Bahia (Brazil) and Vara Mada (Madagascar) projects.
Continue medical isotope recovery R&D for cancer treatments.
Continue to strengthen ESG reporting and metrics across global operations.

Energy Fuels is proud to support local Native American STEM education

Energy Fuels is committed to the highest standards of corporate responsibility and environmental protection. We operate our facilities in a manner that puts the safety of our workers, contractors, communities, environment, and principals of sustainable development above all else. Whenever issues of safety conflict with other corporate objectives, safety shall be the first consideration.

Energy Fuels works hard to develop relationships with the local communities in which we operate to address concerns and build support among our stakeholders. While local communities will realize the benefits of our operations through jobs, tax revenues, and economic development, they will also bear some of the burdens associated with such development. Through our culture of safety, environmental stewardship, and strict adherence to all federal, state and local laws and regulations, we are constantly working on being good corporate citizens and valuable members of the communities in which we operate.

Energy Fuels requires strict adherence to our Code of Ethics, and Environment, Health, Safety & Sustainability.