Company: LEU
Filing Date: 2025-05-09
Form Type: 424B5
Source: 0001104659-25-046715
Chunk: 12

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-09
Form: 424B5
Chunk 12
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% over the 2018
historic low. This surge in the SWU spot price beginning in 2022 has been driven primarily by uncertainty created as a result of the war
in Ukraine, coupled with growing interest in nuclear power as a source of reliable carbon-free energy. The contemplation of imposition
of tariffs on LEU, if ultimately imposed, may put additional upward pressure on the spot price of SWU.

When Russian supply is
included, the uranium enrichment segment of the global nuclear fuel market is oversupplied. But without Russian supply, the global market
for uranium enrichment would be undersupplied. Further, it is not clear that there are sufficient inventories of enriched uranium in the
United States to compensate for a loss of Russian supply, absent new capacity that will take a number of years to deploy. A report issued
by the International Atomic Energy Agency in 2023 reported that while U.S. utilities may have enough inventory to cover one reload of
their reactors, “truly strategic physical stockpiles are almost non-existent.”

<div align='center'>S-1</div>

Changes in the supply-demand
balance and in the competitive landscape arising from the war in Ukraine or the imposition of tariffs may affect pricing trends, change
customer spending patterns, and create additional uncertainty in the uranium market. At the same time, uncertainty remains about future
demand for nuclear power generation. To address such changes and uncertainty, we continue to evaluate opportunities to grow our business
organically or through acquisitions and other strategic transactions.

Our Technical Solutions
segment is committed to the restoration of America’s domestic uranium enrichment production capability in order to play a critical
role in meeting U.S. national security and energy security requirements and advancing America’s nonproliferation, energy, and climate
objectives. Our Technical Solutions segment is also focused on repairing broken and vulnerable supply chains, providing clean energy jobs,
and supporting the communities in which we operate. Our goal is to deliver major components of the next-generation nuclear fuels that
will provide reliable carbon-free power around the world.

We are also actively
considering and expect to consider potential strategic transactions from time to time, which could involve, without limitation, acquisitions
and/or dispositions of businesses or assets, joint ventures or investments in businesses, products or technologies or changes to our capital
structure.

Corporate Information

Our principal executive
office is located at 6901 Rockledge Drive, Suite 800, Bethesda, Maryland 20817, and our telephone number is (301)