Company: LEU
Filing Date: 2025-05-09
Form Type: 424B5
Source: 0001104659-25-046715
Chunk: 11

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-09
Form: 424B5
Chunk 11
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 the SEC, including subsequent Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and in any subsequent prospectus supplement, and our consolidated financial statements and related notes incorporated by reference in this prospectus supplement, before making an investment decision.

Our Company

Centrus is a trusted
supplier of nuclear fuel components for the nuclear power industry, which provides a reliable source of carbon free energy and provides
enrichment and technical services for public and private customers.

Centrus operates two
business segments: (a) LEU, which supplies various components of nuclear fuel to commercial customers from our global network of
suppliers, and (b) Technical Solutions, which provides advanced uranium enrichment for the nuclear industry and the U.S. government
and advanced manufacturing and other technical services to government and private sector customers.

Our LEU segment currently
provides most of the Company’s revenue and involves the sale of enriched uranium, the fissile component of nuclear fuel, primarily
to utilities that operate commercial nuclear power plants. The majority of these sales are for the enrichment component of LEU, which
is measured in SWU. Centrus also sells natural uranium hexafluoride (the raw material needed to produce LEU) and occasionally sells uranium
concentrates, uranium conversion, or LEU with the natural uranium hexafluoride and SWU components combined into one sale.

LEU is a critical component
in the production of nuclear fuel for reactors that produce electricity. We supply LEU and its components to both domestic and international
utilities for use in nuclear reactors worldwide. We provide LEU from multiple sources, including medium- and long-term supply contracts,
and spot purchases and our inventory. As a long-term supplier of LEU to our customers, our objective is to provide value through the reliability
and diversity of our supply sources.

Published spot price
indicators for SWU reached previous historic highs in April 2009 at $163 per SWU. In the years following the 2011 Fukushima accident
in Japan, spot prices declined more than 75%, bottoming out in August 2018 at $34 per SWU. This was followed by a period of price
increases, which reached $195 per SWU by December 31, 2024, which surpassed the previous historic high. As of March 31, 2025,
spot prices were $190 per SWU. This represents a decrease of 3% since the beginning of the year but an increase of 459