: Sustainability Report (Energy Fuels 2025 Sustainability Report)
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Published on 04/16/2026 at 07:24 pm EDT
Sustainability Report 2025
Published April 2026
Sustainability Report 2025
Introduction
Our Business What We Do Doing It Responsibly Environment Society Good Governance Appendices 2
For responsibly produced critical minerals
The Shimba Hills Reed Frog (Hyperolius rubrovermiculatus) is an IUCN Red List Endangered species, endemic to the coastal forests and wetlands of Kenya's Shimba Hills ecosystem. This small frog (24-32mm, or about 1 inch) is threatened by habitat loss driven
by rapid population growth, agricultural expansion, and unsustainable wetland and riparian zone use. Energy Fuels
is proud to have contributed to the conservation of this species by restoring wetlands, planting
indigenous trees in riparian zones, and
establishing habitats within our mining
site for this frog and other threatened flora and fauna.
Front cover and here: Shimba Hills Reed Frogs in a restored wetland at our Kwale Operations in Kenya.
Sustainability Report 2025
Introduction
Our Business What We Do Doing It Responsibly Environment Society Good Governance Appendices 3
2 Introduction
About This Report
Our Business
10 Our Business Model
11 Where We Operate
12 Our Timeline and Milestones
13 What We Do: Fueling the Transition
14 Why Nuclear Energy Matters: Providing a Reliable, Carbon-Free Source of Electricity
17 Uranium: Advancing the Energy Transition
19 Rare Earth Elements for Clean Energy and Advanced Technologies
Doing It Responsibly
31 Responsible Resource Recovery and Circular Innovation
32 Supporting the Clean Energy Imperative
33 Materiality Assessment
34 Environment
35 Environmental Responsibility
38 Water Stewardship
41 Air Quality
43 Biodiversity Stewardship
47 Addressing Climate Change
50 Tailings, Process Waste, Mine Waste, and Development Rock Management
53 Non-Mineral Waste Management
56 Post-Mining Land Reclamation
59 Society
60 Health and Safety
65 Stakeholder Engagement
69 Food Security
71 Improving Lives and Livelihoods
74 Working with Communities
76 Prioritizing Our People
78 Human Rights
80 Good Governance
81 Mining for Good
83 Corporate Governance
85 Ethics and Integrity
87 Government Relations
88 Responsible Procurement
90 Economic Impacts
93 Data Privacy and Cybersecurity
94 Appendices
95 Glossary of Key Terms
97 2024 and 2025 Databook
114 Sustainability Disclosure Index (GRI & SASB Standards)
120 Important Notices and Forward-Looking Statements Disclaimer
Sustainability Report 2025
Introduction
Our Business What We Do Doing It Responsibly Environment Society Good Governance Appendices 4
Energy Fuels has a long track record of doing things the right way - applying rigorous operational discipline while working to protect the environment and support the places we call home. That record is the result of the commitment of our employees and contractors across our operations and projects. I am especially proud of the strong relationships we have built with stakeholders, including milestones such as
our landmark agreement with the Navajo Nation, the ongoing work of the San Juan County Clean Energy Foundation and the positive and productive relationships with our stakeholders in Kenya on post-mining land use.
We have strengthened governance and accountability to help embed responsible practices at every level of the
organization - from Board oversight through our Environment, Health, Safety, and Sustainability (EHSS) Committee, to the policies and management systems that guide our day-to-day decisions. This governance, combined with a culture rooted in "doing what is right", supports consistent performance across all dimensions of sustainability and reinforces our commitment to transparency and ethical conduct.
As the largest U.S. producer of uranium - supplying net-carbon-free fuel to nuclear utilities - and as we advance our position
in rare earths and other critical materials, we are uniquely positioned to help meet growing demand for responsibly produced materials and more resilient supply chains in a material global manner. This Sustainability Report provides insight into our performance, our priorities, and the path forward as we continue to improve and to deliver sustainable value.
As I transition from CEO to a consulting role for Energy Fuels, I am confident that the Company's next chapter will build on this strong foundation for even more great things in the future.
Mark S. Chalmers
Chief Executive Officer
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 excellence 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 continue
to strengthen our leadership and capabilities to ensure sustainability considerations remain integrated into decision-making and execution at every step for all our projects.
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 expanding demand for critical materials the world needs, produced the right way.
Ross R. Bhappu
Energy Fuels President
Sustainability Report 2025
Introduction
Our Business What We Do Doing It Responsibly Environment Society Good Governance Appendices 5
A Baseline for Sustainable Growth
This Sustainability Report covers performance data and key developments from calendar years 2024 and 2025, while also offering broader insight into our operations, business model, and long-term strategy. It serves as both a disclosure and a strategic snapshot of our progress toward sustainability and stakeholder value generation.
Energy Fuels maintains robust data collection and monitoring systems across numerous environmental and operational parameters. As we expand into new geographies, new resources, and new technologies, we recognize the need
to further expand and integrate our ESG data management systems, set measurable targets, and refine tracking capabilities on a sustainability journey defined by continuous improvement.
This Report establishes a baseline from which we will build increasingly comprehensive and data-driven sustainability reporting. This voluntary (yet important) reporting is intended to supplement the robust data program we already have
in place for regulatory compliance purposes, and reflects where we are today as a more diversified, global company: identifying where our sustainability data is strong and reliable, where gaps in our sustainability data remain and which improvements are underway, and where new sustainability metrics and performance targets will be introduced. We see this Report as a living document that will evolve alongside our sustainability journey and long-term goals.
For detailed information regarding Energy Fuels' general disclosures, management approach, economic performance, market presence, indirect economic impacts, business strategy, procurement practices, socioeconomic matters, and taxes, please see our most recent public disclosures on Forms 10-K (Annual Reports), 10-Q (Quarterly Reports), DEF 14A (Definitive Proxy Statements), and 8-K (Current Reports).
Scope and Boundaries
This Report presents information for the reporting periods January 1, 2024, to December 31, 2024, and January 1, 2025, to December 31, 2025. Data is reported for our U.S. facilities that were operational during this period - the White Mesa Mill, Pinyon Plain Mine, La Sal Complex, Nichols Ranch In-Situ Recovery (ISR) facility, and our Bahia Project
in Brazil. Data for Kwale Operations in Kenya and the Vara Mada Project in Madagascar reflect the full 2024 calendar year, or as of December 31, 2024, including the period prior to the acquisition of Base Resources by Energy Fuels in October 2024, unless otherwise stated. The Report includes only those projects where Energy Fuels has operational control. Those projects where the Company does not have operational oversight, such as the Donald Project in Australia, are out of scope of this Report at this current time.
Sustainability Targets
Our sustainability targets presented in this Report are articulated in the "Future Focus" sections for our material issues, with a focus on our near-term objectives. As we continue our integration journey across the organization and further develop our ESG data management capabilities while expanding our operations, our monitoring and reporting systems will continue to evolve. Over time, we will grow our ESG reporting metrics and establish quantifiable targets for priority areas where they provide meaningful value.
Disclaimer
Energy Fuels Inc. published this content on April 16, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 16, 2026 at 23:23 UTC.