Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended July 31, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) | Nevada | 98-03 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) Nevada 98-0399476 (State or other jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) Nevada 98-0399476 (State or other jurisdic ...

PART I – FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.Financial%20Statements) Unaudited financial statements reflect significant balance sheet expansion and new revenue streams from recent acquisitions [Condensed Consolidated Balance Sheets](index=6&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets and liabilities increased substantially due to acquisitions, boosting stockholders' equity Condensed Consolidated Balance Sheets Highlights (in thousands) | Account | Oct 31, 2022 | July 31, 2022 | | :--- | :--- | :--- | | **Total Current Assets** | $54,895 | $102,191 | | Mineral Rights and Properties | $558,366 | $181,948 | | **Total Assets** | **$695,487** | **$354,247** | | **Total Current Liabilities** | $17,608 | $8,498 | | Deferred Tax Liabilities | $68,826 | $536 | | **Total Liabilities** | **$114,048** | **$27,338** | | **Total Equity** | **$581,439** | **$326,909** | - The significant increase in Mineral Rights and Properties from **$181.9 million to $558.4 million** reflects the impact of the UEX and Roughrider acquisitions[12](index=12&type=chunk) [Consolidated Statements of Operations and Comprehensive Loss](index=7&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) The company reported significant new revenue and gross profit but incurred a net loss due to operating and other expenses Statement of Operations Summary (in thousands, except per share data) | Metric | Three Months Ended Oct 31, 2022 | Three Months Ended Oct 31, 2021 | | :--- | :--- | :--- | | Sales and Service Revenue | $57,292 | $- | | Gross Profit | $13,858 | $- | | Income (Loss) from Operations | $3,593 | $(4,872) | | **Net Loss for the Period** | **$(3,756)** | **$(2,074)** | | Total Comprehensive Loss | $(14,524) | $(1,931) | | **Net Loss Per Share (Basic & Diluted)** | **$(0.01)** | **$(0.01)** | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Operating activities generated positive cash flow, while investing activities for acquisitions led to a net cash decrease Cash Flow Summary (in thousands) | Activity | Three Months Ended Oct 31, 2022 | Three Months Ended Oct 31, 2021 | | :--- | :--- | :--- | | Net Cash Provided By (Used In) Operating Activities | $36,531 | $(12,283) | | Net Cash Provided By Financing Activities | $27,864 | $63,918 | | Net Cash (Used In) Provided By Investing Activities | $(75,783) | $358 | | **Net Change in Cash, Cash Equivalents and Restricted Cash** | **$(11,388)** | **$51,993** | [Notes to the Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the accounting for major acquisitions, uranium inventory commitments, and capital stock activities - The company acquired all issued and outstanding shares of UEX Corporation on August 19, 2022, issuing 48.5 million shares for a total consideration valued at **$192.7 million**[32](index=32&type=chunk)[37](index=37&type=chunk) - On October 14, 2022, the company acquired the Roughrider uranium project from a subsidiary of Rio Tinto plc for a total consideration of **$146.2 million**[38](index=38&type=chunk)[39](index=39&type=chunk) - During the quarter, the company issued 5,218,890 shares under its 2021 ATM Offering for net cash proceeds of **$21.7 million**[62](index=62&type=chunk) Uranium Inventory Purchase Commitments (as of Oct 31, 2022) | Fiscal Year | Pounds | Total Purchase Price (in thousands) | | :--- | :--- | :--- | | 2023 | 1,505,000 | $53,134 | | 2024 | 895,000 | $38,913 | | 2025 | 600,000 | $23,120 | | 2026 | 100,000 | $3,620 | | **Total** | **3,100,000** | **$118,787** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses its hub-and-spoke strategy, recent acquisitions, and operational results amid improving uranium market fundamentals - The company's strategy is centered on a **"hub-and-spoke" model**, using its Hobson and Irigaray processing facilities as central hubs for satellite ISR mines[85](index=85&type=chunk) - Recent strategic acquisitions of UEX Corporation and the Roughrider Project provide a **critical mass of assets in Canada's Athabasca Basin**[86](index=86&type=chunk)[87](index=87&type=chunk) - Management notes **improving uranium market fundamentals**, citing a structural deficit and geopolitical factors shifting focus towards security of supply[90](index=90&type=chunk) Quarterly Results Summary (in thousands) | Metric | Q1 FY2023 (Oct 31, 2022) | Q1 FY2022 (Oct 31, 2021) | | :--- | :--- | :--- | | Sales and service revenue | $57,292 | $- | | Gross profit | $13,858 | $- | | Net income (loss) | $(3,756) | $(2,074) | | Basic and diluted income (loss) per share | $(0.01) | $(0.01) | [Results of Operations](index=29&type=section&id=Results%20of%20Operations) The company generated its first significant revenue from uranium sales, though higher operating costs contributed to a net loss - Mineral property expenditures increased to **$4.1 million from $1.7 million YoY**, primarily due to increased exploration and production readiness costs[100](index=100&type=chunk) - General and administrative expenses rose to **$5.7 million from $3.1 million YoY**, driven by higher costs following recent acquisitions[102](index=102&type=chunk)[103](index=103&type=chunk) Sales and Cost of Sales (in thousands) | Item | Three Months Ended Oct 31, 2022 | | :--- | :--- | | Sales of purchased uranium inventory | $57,209 | | Revenue from toll processing services | $83 | | **Total sales and service revenue** | **$57,292** | | Cost of purchased uranium inventory | $(43,365) | | Cost of toll processing services | $(69) | | **Total cost of sales and services** | **$(43,434)** | | **Gross Profit** | **$13,858** | [Liquidity and Capital Resources](index=33&type=section&id=Liquidity%20and%20Capital%20Resources) Working capital decreased, and the company continues to rely on equity financing to fund its capital-intensive operations - The company has a history of operating losses, with an **accumulated deficit of $290.1 million** as of October 31, 2022[114](index=114&type=chunk) - Subsequent to the quarter end, the company received an additional **$13.5 million from its ATM offerings** and **$25.2 million from the sale of uranium inventory**[112](index=112&type=chunk)[139](index=139&type=chunk) Liquidity Position (in thousands) | Metric | Oct 31, 2022 | July 31, 2022 | | :--- | :--- | :--- | | Cash and cash equivalents | $20,965 | $32,536 | | Working capital | $37,287 | $93,693 | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=37&type=section&id=Item%203.Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company refers to its most recent Annual Report on Form 10-K for disclosures regarding market risk - For disclosures about market risk, the company directs readers to Item 7A in its **Annual Report on Form 10-K for Fiscal 2022**[141](index=141&type=chunk) [Item 4. Controls and Procedures](index=39&type=section&id=Item%204.Controls%20and%20Procedures) Management concluded that the company's disclosure controls and internal controls over financial reporting were effective - The Principal Executive Officer and Principal Financial Officer concluded that the company's **disclosure controls and procedures were effective** as of the end of the period[142](index=142&type=chunk) - **No material changes** to the company's internal control over financial reporting occurred during the fiscal quarter ended October 31, 2022[144](index=144&type=chunk) PART II – OTHER INFORMATION [Item 1. Legal Proceedings](index=40&type=section&id=Item%201.Legal%20Proceedings) The company is involved in legal disputes concerning project permits in Texas and concession extensions in Paraguay - An ongoing legal appeal challenges permits for the **Goliad Project**, which the company believes is without merit[148](index=148&type=chunk) - The company is in a dispute with Paraguay's mining regulator over the extension of concessions for the **Yuty and Alto Parana Projects**[150](index=150&type=chunk) [Item 1A. Risk Factors](index=41&type=section&id=Item%201A.%20Risk%20Factors) Key risks include a limited operating history, reliance on external financing, and uncertainties in mineral exploration - The company has a limited financial history, a **significant accumulated deficit ($290.1 million)**, and has historically relied on equity financing[153](index=153&type=chunk)[156](index=156&type=chunk) - The company has **not established proven or probable reserves** for any of its projects, presenting greater uncertainty regarding economic viability[166](index=166&type=chunk)[167](index=167&type=chunk) - The **Physical Uranium Initiative Program** is subject to risks including price fluctuations, counterparty default, and storage facility risks[174](index=174&type=chunk)[176](index=176&type=chunk)[181](index=181&type=chunk) - The uranium and titanium industries are subject to **stringent and changing environmental laws and regulations**[186](index=186&type=chunk)[189](index=189&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=52&type=section&id=Item%202.Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company issued unregistered securities primarily for the UEX and Roughrider acquisitions under specific exemptions - Key unregistered issuances during the quarter included **48.5 million shares for the UEX Acquisition** and **17.8 million shares for the Roughrider Acquisition**[224](index=224&type=chunk)[225](index=225&type=chunk) [Item 4. Mine Safety Disclosures](index=54&type=section&id=Item%204.Mine%20Safety%20Disclosures) The company's in-situ recovery mines were not subject to MSHA regulation during the reporting period - For the quarter ended October 31, 2022, the company's ISR Mines were **not subject to regulation by the Mine Safety and Health Administration (MSHA)**[227](index=227&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its charter) Nevada 98-0399476 (I.R.S. Employer Identification No.) (State or other jurisdiction of incorporation or organization) 1030 West Georgia Street, Suite 1830, Vancouver, British Columbia, Canada, V6E 2Y3 (Address of principal executive offices) For the fiscal year ended July 31, 2022 ☐ TRAN ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) Nevada 98-0399476 (State or other jurisdiction of incorp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) Nevada 98-0399476 (State or other jurisdic ...

PART I – FINANCIAL INFORMATION [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) Unaudited condensed consolidated financial statements for Q3 2021 show increased assets, reduced net loss, and significant capital raising [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets increased to **$232.7 million** by October 31, 2021, driven by higher cash and inventories, boosting stockholders' equity Condensed Consolidated Balance Sheet Highlights (as of October 31, 2021) | Balance Sheet Item | Oct 31, 2021 | July 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $96,304,124 | $44,312,780 | | Inventories | $36,217,420 | $29,172,480 | | **Total Current Assets** | **$134,427,054** | **$75,045,362** | | **Total Assets** | **$232,718,651** | **$169,541,085** | | **Liabilities & Equity** | | | | Total Current Liabilities | $13,019,322 | $13,269,210 | | Total Liabilities | $17,837,105 | $18,085,941 | | Total Equity | $214,881,546 | $151,455,144 | | **Total Liabilities and Equity** | **$232,718,651** | **$169,541,085** | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Net loss significantly improved to **$2.1 million** for the three months ended October 31, 2021, driven by investment income and a realized gain on securities Statement of Operations Summary (Three Months Ended October 31) | Metric | 2021 | 2020 | | :--- | :--- | :--- | | Loss from Operations | $(4,871,667) | $(3,386,630) | | Income (loss) from equity-accounted investment | $2,753,167 | $(703,605) | | **Net Loss for the Period** | **$(2,073,826)** | **$(4,963,537)** | | Net Loss Per Share (Basic and Diluted) | $(0.01) | $(0.03) | | Weighted Average Shares Outstanding | 246,859,322 | 189,955,499 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was **$12.3 million**, offset by **$63.9 million** from financing, leading to a **$52.0 million** increase in cash and equivalents Cash Flow Summary (Three Months Ended October 31) | Cash Flow Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net Cash Used in Operating Activities | $(12,283,278) | $(2,575,118) | | Net Cash Provided by Financing Activities | $63,918,267 | $14,130,965 | | Net Cash Provided by (Used in) Investing Activities | $356,355 | $(10,002,903) | | **Net Change in Cash, Cash Equivalents and Restricted Cash** | **$51,991,344** | **$1,552,944** | [Notes to the Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Notes detail accounting policies, 'Exploration Stage' status, increased uranium inventories and commitments, substantial capital raising, and the subsequent U1A acquisition - The company remains in the 'Exploration Stage' as defined by the SEC because it has not established proven or probable reserves. As a result, exploration and pre-extraction expenditures are expensed as incurred, which leads to reporting larger losses than if it were in the 'Production Stage'[29](index=29&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) - During the quarter, the company entered into agreements to purchase **400,000 pounds** of uranium concentrate under its Physical Uranium Initiative Program[34](index=34&type=chunk) Uranium Inventory Purchase Commitments (as of Oct 31, 2021) | Fiscal Year | Purchase Commitments (Pounds) | Total Purchase Price | | :--- | :--- | :--- | | 2022 | 700,000 | $21,965,000 | | 2023 | 1,205,000 | $39,409,000 | | 2024 | 495,000 | $16,913,250 | | 2025 | 400,000 | $14,130,000 | | 2026 | 100,000 | $3,620,000 | | **Total** | **2,900,000** | **$96,037,250** | - During the quarter, the company issued 20,743,878 shares under its May 2021 ATM Offering for net cash proceeds of **$62,671,123**. Subsequent to the quarter, it raised an additional **$31.5 million** through ATM offerings[64](index=64&type=chunk) - Subsequent to October 31, 2021, the company entered into a definitive agreement to acquire Uranium One Americas, Inc. (U1A) for a total consideration of **$125.4 million**[80](index=80&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the 'hub-and-spoke' strategy, positive uranium market, and quarterly results, noting reduced net loss and strengthened liquidity for future acquisitions - The company utilizes a 'hub-and-spoke' strategy in South Texas, with the fully-licensed Hobson Processing Facility serving as the central hub for processing materials from the Palangana Mine and future satellite projects[86](index=86&type=chunk) - Subsequent to the quarter, the company agreed to acquire Uranium One Americas, Inc. (U1A) for **$125.4 million**, consisting of **$111.6 million** in cash and assumption of a **$13.8 million** surety deposit[90](index=90&type=chunk)[115](index=115&type=chunk) - Working capital increased by **$59.6 million** during the quarter to **$121.4 million**, primarily due to net proceeds of **$62.7 million** from the May 2021 ATM Offering[113](index=113&type=chunk) - Management believes existing cash resources are sufficient to complete the U1A Acquisition, fulfill uranium purchase commitments, repay **$10.0 million** in debt, and fund planned operations for the next 12 months[116](index=116&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=33&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This section refers to the disclosures about market risk provided in the company's Annual Report on Form 10-K for the fiscal year ended July 31, 2021 - The company directs readers to Item 7A of its Form 10-K for Fiscal 2021 for a full discussion of quantitative and qualitative disclosures about market risk[144](index=144&type=chunk) [Controls and Procedures](index=33&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls and procedures were effective as of October 31, 2021, with no material changes to internal controls during the quarter - The Principal Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were effective as of October 31, 2021[145](index=145&type=chunk) - There were no changes in the company's internal control over financial reporting during the fiscal quarter that materially affected, or are reasonably likely to materially affect, internal controls[147](index=147&type=chunk) PART II – OTHER INFORMATION [Legal Proceedings](index=34&type=section&id=Item%201.%20Legal%20Proceedings) The company discloses ongoing legal matters, including a pending appeal for Goliad Project permits and disputes over Paraguay concession extensions - An appeal is pending against the Texas Commission on Environmental Quality (TCEQ) regarding permits for the Goliad Project. The company has intervened and believes the appeal is without merit[150](index=150&type=chunk) - The company is in a dispute with Paraguay's mining regulator (MOPC) over the eligibility for extension of concessions for its Yuty and Alto Parana Projects and has filed appeals to protect its rights[151](index=151&type=chunk) [Risk Factors](index=35&type=section&id=Item%201A.%20Risk%20Factors) This section outlines material risks, including limited operating history, financing dependence, exploration risks, and challenges in the Physical Uranium Initiative and U1A acquisition - The company has a history of significant negative cash flow and an accumulated deficit of **$293.7 million** as of October 31, 2021, and its long-term success depends on achieving profitability[156](index=156&type=chunk) - Operations are capital intensive, and the company will require significant additional financing. Its ability to raise capital depends on factors like uranium prices and market conditions[160](index=160&type=chunk) - The company has not established proven or probable reserves for any of its projects, including the operating Palangana Mine, which makes its mining activities inherently riskier[169](index=169&type=chunk)[170](index=170&type=chunk) - The Physical Uranium Initiative Program is subject to risks, including price fluctuations, potential losses if uranium is sold below acquisition cost, and counterparty default risk[176](index=176&type=chunk)[177](index=177&type=chunk) - The closing of the U1A Acquisition is subject to certain conditions precedent which may not be met[214](index=214&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=46&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the quarter, the company issued unregistered equity securities for services and a property purchase, relying on Securities Act exemptions - On September 30, 2021, **4,607 shares** were issued to a consultant for services[225](index=225&type=chunk) - On October 14, 2021, **64,149 shares** were issued to a vendor for a property purchase[225](index=225&type=chunk) [Mine Safety Disclosures](index=46&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) For the quarter ended October 31, 2021, the Palangana Mine was not subject to regulation under the Mine Safety Act - For the quarter ended October 31, 2021, the Palangana Mine was not subject to regulation under the Mine Safety Act[224](index=224&type=chunk) [Exhibits](index=47&type=section&id=Item%206.%20Exhibits) Exhibits filed include CEO and CFO certifications (31.1, 31.2, 32.1) and Inline XBRL documents (101 series) - Exhibits filed include CEO and CFO certifications (31.1, 31.2, 32.1) and Inline XBRL documents (101 series)[226](index=226&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended July 31, 2021 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) Nevada (State or other jurisdictio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended April 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33706 URANIUM ENERGY CORP. (Exact name of registrant as specified in its charter) Nevada 98-0399476 (State or other jurisdiction of incorp ...