Energy Fuels Inc

Energy Fuels Inc. (the "Company") has determined that it is unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the year ended December 31, 2022 (the "Form 10-K") by the prescribed filing date because the Company requires additional time to complete certain items with respect to the financial statements and to complete its assessment of internal controls over financial reporting to be included in the Form 10-K. The Company anticipates that it will file its Form 10-K within the fifteen-day grace period provided by Exchange Act Rule 12b-25

The Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2022 (the "Quarterly Report") of Energy Fuels Inc. (the "Company"), was required to be filed on or before May 10, 2022. The Company is unable to file its Quarterly Report within the prescribed time period without unreasonable effort or expense for the reasons set forth below. On January 1, 2022, the Company became a large accelerated filer for the first time and, as a result, the Company has a shortened filing deadline of 40 days rather than 45 days to file its Quarterly Reports. Our filing of the Annual Report on Form 10-K for the year ended December 31, 2021 (the “Annual Report”) was delayed, as the Company (i) became subject to the requirements of Section 404(b) of the Sarbanes-Oxley Act of 2022 (“SOX”), (ii) was required to file seven updated technical reports compliant with Subpart 1300 of Regulation S-K, (iii) had to perform for the first time an International Financial Reporting Standards (“IFRS”) to U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) conversion for the presentation of summarized financial information in accordance with Rule 4-08(g) of Regulation S-X to be included in the notes to the Company’s financial statements in its Annual Report, and (iv) had a shortened filing deadline of 60 days rather than 90 days to file its Annual Report. On March 2, 2022, the Company filed a Form 12b-25 in order to seek relief from the March 1, 2022 filing deadline for the Annual Report. It thereafter filed its Annual Report on March 15, 2022 (which was on or before the fifteenth calendar day following the prescribed due date), and because of (iii), above, it also had to prepare and file a Form 10-K/A on March 31, 2022 (the “Amendment”). The delayed filing of the Annual Report and the filing of the Amendment had the effect of decreasing the time available for the Company to prepare the Quarterly Report in accordance with the shortened filing deadline

The Annual Report on Form 10-K for the fiscal year ended December 31, 2021 (the "Annual Report") of Energy Fuels Inc. (the "Company"), was required to be filed on or before March 1, 2022. The Company is unable to file its Annual Report within the prescribed time period without unreasonable effort or expense for the reasons set forth below. On January 1, 2022, the Company became a large accelerated filer for the first time and, as a result, the Company has a shortened filing deadline of 60 days rather than 90 days to file its Annual Report and is now subject to the requirements of Section 404(b) of the Sarbanes-Oxley Act of 2002 ("SOX"). Additionally, the Company is required to file seven updated technical reports compliant with Subpart 1300 of Regulation S-K for the first time and has to perform an International Financial Reporting Standards ("IFRS") to U.S. Generally Accepted Accounting Principles ("U.S. GAAP") conversion for the presentation of summarized financial information in accordance with Rule 4-08(g) of Regulation S-X to be included in the notes to the Company's financial statements in the Annual Report for the first time. For the foregoing reasons, the Company requires additional time to: finalize seven technical reports being updated for compliance with Subpart 1300 of Regulation S-K; complete the procedures relating to its year-end financial reporting process, which are in part dependent on the information included within the seven updated technical reports; finalize processes and procedures required by Section 404(b) of SOX; complete the procedures relating to management's assessment of the effectiveness of its internal controls; and finalize an IFRS conversion to U.S. GAAP for the presentation of summarized financial information for two separate equity method investments, spanning three historical reporting periods. Therefore, the Company is unable to file the Annual Report by the prescribed filing due date of March 1, 2022