Mr. Amir Adnani reports

URANIUM ENERGY ANNOUNCES SUCCESSION OF CHIEF FINANCIAL OFFICER

Josephine Man has joined Uranium Royalty Corp. and will be succeeding Pat Obara as treasurer and chief financial officer, effective Oct. 1, 2024.

Mr. Obara, who joined the company in 2006, will be stepping down from his current role as chief financial officer on Oct. 1, 2024, after the filing of the company's annual report on Form 10-K for the current fiscal year and will continue with the company as senior vice-president, administration.

Amir Adnani, chief executive officer and president, stated: "On behalf of the board of directors and the entire Uranium Energy team, I would like to thank Pat for his leadership that has helped build Uranium Energy to where it is today. Throughout, he has demonstrated a level of steadfast dedication to the company and its shareholders. Joining the company shortly after its inception, Pat has had a tremendous impact on the company, with his tireless work and financial stewardship leaving an enduring legacy that is embedded in our corporate identity. It has been nothing but an honour to work with Pat over the last 18 years and I look forward to continuing to work with him in his new role."

Mr. Adnani continued: "We look forward to working with Josephine as she transitions into her role at the company. Her strong financial background and experience will be invaluable as we seek to ramp up our operations and move into commercial production."

Mr. Obara stated, "I am proud of Uranium Energy's accomplishments and am looking forward to continuing in my new role at the end of this transition, including working with Josephine and the entire Uranium Energy team as it prepares to restart production at Christensen Ranch."

Ms. Man brings a wealth of experience in financial reporting, corporate finance, mergers and acquisitions, and risk management. Ms. Man serves as chief financial officer of Uranium Royalty Corp., where she is responsible for leading all finance functions and risk management. Previously, between 2020 and 2022, she was chief financial officer of Gold Royalty Corp., a precious-metal-focused royalty and streaming company, where she was central to its initial public offering and the acquisition of three Canadian-listed companies, amongst other achievements. Ms. Man has over 28 years of experience as a finance professional and was previously a partner with Ernst & Young LLP.

About Uranium Energy Corp.

Uranium Energy is the fastest-growing supplier of the fuel for the green energy transition to a low-carbon future. Uranium Energy is the largest, diversified North American focused uranium company, advancing the next generation of low-cost, environmentally friendly ISR (in situ recovery) uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub and spoke platforms located in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, the company has diversified uranium holdings, including: (1) one of the largest physical uranium portfolios of North American warehoused U3O8 (triuranium octoxide); (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a western hemisphere pipeline of resource-stage uranium projects. The company's operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining.

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