Mr. William Sheriff reports

ENCORE ENERGY APPOINTS WAYNE HEILI TO THE BOARD OF DIRECTORS; ANNOUNCES THE RETIREMENT OF DR. DENNIS STOVER

EnCore Energy Corp. has appointed Wayne Heili to the company's board of directors, effective immediately. In addition, Dr. Dennis Stover has announced his retirement from the board effective Dec. 31, 2025. Following his retirement from the board, Dr. Stover will continue to actively support the company as chair of the technical advisory committee.

"On behalf of the board of directors, I am pleased to welcome Wayne to the EnCore team. His wealth of knowledge will be a valued input that will help shape our future and strengthen the company's position as a leader in the uranium industry," said William M. Sheriff, executive chairman. "Dr. Dennis Stover's five-decade career has helped shape the industry, advancing safe and sustainable fuel solutions. His leadership, vision and dedication have been instrumental in advancing EnCore. As he steps into retirement from the board, we celebrate all he has accomplished and look forward to his continued support as he leads the newly constituted technical advisory committee. His continuing legacy will influence and shape the uranium extraction industry and the future of clean energy for many years to come."

Mr. Heili, director

Mr. Heili is a metallurgical engineer specializing in uranium recovery throughout his 35-plus-year professional career. Starting out in south Texas and later moving to Wyoming, Mr. Heili has held technical, managerial and senior executive roles in both major corporate and junior development uranium production companies. He served as vice-president of mining and later as chief executive officer of Ur-Energy Inc. as it advanced projects from conception to production. Mr. Heili most recently served as the chief executive officer of Peninsula Energy Ltd. as it successfully overcame a number of challenges in bringing the Lance project in Wyoming to production status in 2025.

In a corporate capacity, Mr. Heili has successfully led teams charged with new project development, regulatory affairs, uranium marketing and investor relations campaigns. He served as an executive director of both Ur-Energy and Peninsula Energy as well as holding board of directors position with the Uranium Producers of America, the Wyoming Mining Association and numerous community non-profit organizations.

On Dec. 1, 2025, in connection with his appointment to the board, Mr. Heili was granted an equity award under the company's 2024 long-term incentive plan, consisting of 25,000 restricted stock units that vest ratably over a two-year period and 100,000 stock options at an exercise price of $2.73 (U.S.) vesting over a 24-month period, with 25 per cent of the stock options vesting six months following the grant date and an additional 25 per cent vesting every six months thereafter. The stock options expire five years from the date of grant.

About EnCore Energy Corp.

EnCore Energy, America's Clean Energy Company, is committed to providing clean, reliable and affordable fuel for nuclear energy as the only U.S. uranium company with multiple central processing plants in operation. The EnCore team is led by industry experts with extensive knowledge and experience in all aspects of ISR (in situ recovery) uranium operations and the nuclear fuel cycle. EnCore solely utilizes ISR for uranium extraction, a well-known and proven technology co-developed by the leaders at EnCore Energy.

Following upon EnCore's demonstrated success in south Texas, future projects in EnCore's planned project pipeline include the Dewey Burdock project in South Dakota and the Gas Hills project in Wyoming. The company holds other assets, including non-core assets and proprietary databases. EnCore is committed to working with local communities and indigenous governments to create positive impact from corporate developments.

We seek Safe Harbor.