Company: LEU
Filing Date: 2025-04-25
Form Type: DEFA14A
Source: 0001104659-25-039227
Chunk: 3

Company: CENTRUS ENERGY CORP
Filing Date: 2025-04-25
Form: DEFA14A
Chunk 3
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isk Centrus’ supply chain while
reinforcing our first-mover advantage in domestic centrifuge production by kickstarting the process ahead of government funding decisions.

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A Tremendous Existing Market Poised for Explosive Growth

Our efforts to restore America’s nuclear fuel supply chain have
gained added urgency over the last year. Simply refueling America’s existing nuclear power reactors that account for nearly 20%
of U.S. electricity production requires nearly $3 billion worth of uranium enrichment per year at today’s prices. But to fuel these
reactors, our country is entirely dependent upon foreign, state-owned enterprises that control virtually 100 percent of the world’s
uranium enrichment capacity. Approximately 25% of America’s enriched uranium now comes from Russia that, under current law, will
be banned starting in 2028, creating a supply crunch. As the United States looks to end its dependence on imports and re-shore critical
energy security supply chains to strengthen American energy dominance, Centrus expects to be in a great position to secure new business
from existing reactors. And the demand for nuclear energy is only growing.

Late last year, Microsoft
signed a 20-year power purchase agreement with Constellation to restart an existing nuclear reactor in Pennsylvania. In March 2025,
the Department of Energy released another tranche of funding under a loan guarantee to enable the restart of the Palisades Nuclear Plant
in Michigan. These represent the first reactors to ever restart after closing down – but they may not be the last. A reactor in
Iowa could be next on the list, and a South Carolina utility is exploring options to resume construction of two unfinished reactors.

The fact that these reactors
-- considered uneconomical just a few years ago -- are poised to restart in the coming years reflects the improving prospects of our industry.

Meanwhile, Google has partnered
with Kairos Power to deploy a fleet of HALEU-fueled reactors totaling 500 megawatts. Amazon has announced a $500 million investment and
a commitment to help deploy four of X-energy’s HALEU-fueled reactors in Washington State, along with potential reactor projects
in Virginia.

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At Centrus, we’re proud
to offer the market with an American source of enriched uranium for these domestic projects. We’re also proud to have the only licensed
and operating HALEU production facility in the western world – with a critical role to play in enabling the deployment of the next
generation of reactors.