9 Reasons to put this company on your WATCHLIST RIGHT NOW

A Katusa Special Situations Company Alert [Katusa Research] Katusa Special Situations Company Alert: Uranium Royalty Corp. (NASDAQ:UROY Canada:URC) 9 Reasons to put this company on your WATCHLIST RIGHT NOW **PLEASE READ FULL DISCLAIMER** 1. First Mover Advantage: FIRST company to apply the successful royalty and streaming business model exclusively to the uranium sector. Being a pioneer in this space led by industry veterans, UROY has secured royalties on world-class producing mines, when the price of uranium was 50% lower than the current price. 2. Strong Financial Position: This smart management team has positioned UROY to be holding over 2 million pounds of physical uranium at an average price of $44.39/lb. The current spot price of $73.5/lb shows a gain of 70% to date on the physical position. The remaining physical uranium to be delivered is with Cameco where Cameco must deliver 500,000 pounds between 2023 and 2025 at an average price of $47.71/lb. The current value of this physical holding is well over $150 million. In addition, having this uranium in “Western Storage” for “Western Demand” will demand a premium to market prices for safe and reliable delivery. UROY has NO DEBT and over $138 million of liquidity available to it. This is a management team that would have no problems raising funds for any further acquisitions, streams, or royalties. 3. Exposure to Rising Uranium Prices and No Exposure to Inflationary Mine Costs: Uranium spot and long-term prices are only going higher from here, as we will explain. UROY is uniquely leveraged to gain from a rising uranium price now AND in the future because of its physical uranium holding and existing royalty transactions on the top-producing mines in the world. In addition, owning royalty and a stream on a mine does not expose UROY to the inflationary cost of production pressures the mine operators are exposed to. That is the advantage of owning a royalty and stream. 4. Significant Re-Rating Potential: UROY is undervalued compared to its peers in the royalty space on a Net Asset Value (NAV) basis. - UROY trades at 50% of its current NAV and its peers in the royalty space trade anywhere between 1-2 times NAV (some even trade over 2x NAV). In the past, we have seen royalty companies double by just getting a re-rating. We think UROY deserves to be a candidate for a potential market re-rating to 1x NAV. 5. Physical Uranium Ownership: There is NO other company that you can play the upside of the physical uranium price and the upside of royalties and streams on producing assets in one company. The major physical uranium holdings and agreements to purchase delivery of future physical holdings were acquired at cyclical lows. This alone is a hedge against market volatility and currency devaluation and offers upside as uranium prices rise. 6. Large & Diversified Royalty Portfolio: With interests in 18 projects, including world-class producing mines like McArthur River and Cigar Lake, UROY offers a diversification of cash flows, which can mitigate risks associated with any single project. 7. Expertise: The depth of experience in UROY's management and board can inspire confidence in their ability to navigate the uranium industry and make strategic decisions. Scott Melbye boasts comprehensive expertise in uranium, covering mining to marketing. Amir Adnani, a notable uranium sector leader, has generated billions in shareholder value. 8. Nuclear Energy Acceptance: As the world moves towards cleaner energy sources, the broader acceptance of nuclear energy is driving drive demand for uranium, benefiting companies like UROY. 9. Emerging Need for New Production: The increasing need for new uranium production and UROY's position to offer royalty financing can create new revenue streams and growth opportunities. Unexpected Ventures into Nuclear Energy / Driving Uranium Demand: Bill Gates, Peter Thiel, and Sam Altman, tech giants of Silicon Valley, have heavily invested in nuclear energy, a departure from their tech backgrounds. Companies like Oklo, Helion, and TerraPower are pioneering small nuclear reactors specifically designed to power these supercomputers. Since 2010, the amount of computing power needed to train AI systems has been doubling every six months, driving an unprecedented energy need. Uranium Squeeze and Scarcity The most advanced supercomputers, like Frontier and the upcoming Intel's Aurora, consume as much power as thousands of homes. The ultimate goal, a zettascale computer, could need as much power as 21 nuclear plants. Uranium is a national concern, and the U.S. Government is not wasting any time. Coming in November you’re going to hear A LOT more about the Nuclear Fuel Security Act. It’s something we’re watching closely. Because the resurgence of nuclear programs globally underscores the strategic importance of a domestic uranium supply for the U.S., framing it as a national security issue. By 2030, low investment in new mines is projected to cut the uranium supply in half. Meanwhile, the World Nuclear Association is predicting nearly a 100% increase in uranium demand by 2040. Even More shocking… The World Nuclear Association does not include a single pound in their projections from small modular reactors (SMRs) demand. Why doesn’t the WNA include a single pound of demand from the future demand from SMRs in their demand projections? Because not a single independent SMR developer is part of the WNA (paying member), so the brain trust at the WNA doesn’t recognize the SMR future demand. SMR demand is real and expect the independent SMR developers to do to the WNA nuclear developers what Tesla did to the traditional car manufacturers: kick their asses. In short, while nuclear is taking off, the uranium market could set itself up for a severe, decades-long deficit. Uranium Royalty Corp is sitting in pole position for what’s coming. [CLICK HERE TO VIEW THE FULL URANIUM REPORT]( Regards, Marin Katusa and the KR Special Situations Team Copyright © 2023, Katusa Research, All rights reserved. [PLEASE READ: RETURNS AND TESTIMONIAL DISCLOSURE]( [Contact Us]( | [Privacy]( | [Terms & Conditions]( Reference: [Link to Corporate Presentation PEA]( IMPORTANT DISCLAIMER Katusa Research, as a publisher, is not a broker, investment advisor, or financial advisor in any jurisdiction. Please do not rely on the information presented by Katusa Research as personal investment advice. If you need personal investment advice, kindly reach out to a qualified and registered broker, investment advisor, or financial advisor. The communications from Katusa Research should not form the basis of your investment decisions. Examples we provide regarding share price increases related to specific companies are based on randomly selected time periods and should not be taken as an indicator or predictor of future stock prices for those companies. Uranium Royalty Corp has sponsored this article and report and we have been compensated. Employees, directors, and owners of Katusa Research may own shares in the company as well, and as such we are extremely biased. You must due your own due diligence and use this material as a starting point to learn more. You could lose all of your money, investing is high risk. The information in this newsletter does not constitute an offer to sell or a solicitation of an offer to buy any securities of a corporation or entity, including U.S. Traded Securities or U.S. Quoted Securities, in the United States or to U.S. Persons. 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