Ur Energy Inc's Business Segments

Ur-Energy USA has three wholly-owned subsidiaries: NFU Wyoming, LLC (“NFU Wyoming”), a limited liability company formed under the laws of the State of Wyoming to facilitate acquisition of certain property and assets and, currently, to act as our land holding and exploration entity; Lost Creek ISR, LLC, a limited liability company formed under the laws of the State of Wyoming to hold and operate our Lost Creek Project and certain other of our Lost Creek properties and assets; and Pathfinder Mines Corporation (“Pathfinder”), a company incorporated under the laws of the State of Delaware, which holds, among other assets, the Shirley Basin and Lucky Mc properties in Wyoming.

The Company operates as a single operating segment, consistent with the financial information presented in the consolidated statements of operations and comprehensive loss. The chief operating decision maker (CODM), comprising the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer, Vice President Finance, and General Counsel, regularly reviews this information. The CODM evaluates performance, allocates resources, sets incentive compensation targets, and conducts planning and forecasting on a consolidated basis, using key financial metrics such as gross profit (loss), operating loss, and net loss. All revenues and long-lived assets are located within the U.S. Segment assets correspond to total assets reported in the consolidated balance sheets. Significant expenses reviewed by the CODM align with those presented in the consolidated statements of operations and comprehensive loss. Financial data for the year ended December 31, 2025, includes U3O8 sales, disposal fees, sales, U3O8 product costs, lower of cost or net realizable value adjustments, cost of sales, gross profit (loss), exploration and evaluation, development, general and administration, accretion of asset retirement obligations, operating costs, operating profit (loss), interest income, interest expense, mark-to-market gain (loss), foreign exchange gain (loss), other income (loss), and net income (loss).