Nuclear Fuel Price Indicators

Ux Price Indicator Definitions

Ux Spot Prices indicate, subject to the terms listed, the most competitive offers available for the respective product or service of which UxC, LLC is aware, taking into consideration information on bid and transaction prices as well as the timing of bids, offers, and transactions (with a cut-off time of 2:30pm Eastern Time).

• The Ux U₃O₈ Price^® (Spot) includes conditions for delivery timeframe (≤ 3 months), quantity (≥ 100,000 pounds U₃O₈), and origin considerations.
• The spot Ux U₃O₈ CMC, CVD, and ORO Prices reflect UxC's determination of prices for U₃O₈ delivery at the specified delivery location taking into consideration bids, offers, and market activity, using the same delivery time period, quantity, and origin considerations as the Ux U₃O₈ Price indicator, and are published daily (excluding certain U.S. holidays). The CMC [Cameco], CVD [ConverDyn], and ORO [Orano] naming conventions represent individual book transfer delivery locations. Please note that the use of company names as part of the delivery location naming convention represents neither an endorsement by the respective companies nor by UxC.
• ^† The Ux U₃O₈ Monthly Average Price (Spot MAP) represents the average of all Monday Ux U₃O₈ Prices for the month.
• The Ux U₃O₈ 3-Year and 5-Year Forward Prices reflect UxC's estimate of prices for U₃O₈ delivery 36 and 60 months forward taking into account market activity and other indicators, using the same quantity and origin specifications as the Spot indicator.
• The Ux LT U₃O₈ Price (Long-Term) includes conditions for escalation (from current quarter), delivery timeframe (≥ 36 months), and quantity flexibility (up to ±10%) considerations.
• The Ux Conversion Prices consider offers for delivery up to 12 months forward (Spot) and base-escalated long-term offers (LT<) for multi-annual deliveries of conversion services with delivery in North America (NA) or Europe (EU).
• The Ux NA UF₆ Price includes conditions for delivery timeframe (6 months), quantity (≥ 50,000 kgU as UF₆), and delivery considerations.
• ^§ The Ux NA and EU UF₆ Values represent the sum of the component U₃O₈ (multiplied by 2.61285) and conversion spot prices as discussed above, and therefore do not necessarily represent the most competitive UF₆ spot offers available.
• The Ux SWU Price (Spot) considers spot offers for deliveries of SWU up to 12 months forward.
• The Ux LT SWU Price (Long-Term) reflects base-escalated long-term offers for multi-annual deliveries of SWU.

The Ux U₃O₈ Price is published daily (excluding certain U.S. holidays), and all other Ux Price indicators are only published on the last Monday of each month. All Ux Month-End Prices are as of the last Monday of each month. (Units: U₃O₈: US$ per pound, Conversion/UF₆: US$ per kgU, SWU: US$ per SWU)

Ux Prices represent neither an offer to sell nor a bid to buy the products or services listed.

^‡ The currency price equivalents are based on exchange rates sourced from http://www.xe.com/ at the time of publication and are for comparison purposes only.

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UxC^®, Ux Weekly^®, Ux U₃O₈ Price^®, UxC BAP^®, U-PRICE^®, and SWU-PRICE^®, are registered trademarks of UxC, LLC.