The summarized operating results of the Company’s reportable segments are as follows:


	Three Months Ended March 31, 2026
			Rare		Heavy
			Earth		Mineral				Consolidated
	Uranium		Elements		Sands		Unallocated(1)		Total
Revenues	$	35,838	$	—	$	—	$	—	$	35,838
Operating costs and expenses:
Costs applicable to revenues	21,475		—		—		—		21,475

Exploration, development and processing (excluding share-based compensation)(2)	6,290		540		1,264		—		8,094
Standby(2)	3,336		—		—		—		3,336
Accretion of asset retirement obligations	380		—		217		—		597

Selling, general and administrative (excluding share-based compensation)	2,715		3,954		6,701		—		13,370
Share-based compensation	1,195		1,375		941		—		3,511
Transaction and integration related costs	—		—		—		2,383		2,383
Total operating costs and expenses	35,391		5,869		9,123		2,383		52,766
Operating income (loss)	$	447	$	(5,869)	$	(9,123)	$	(2,383)	$	(16,928)

(2) Includes depreciation, depletion and amortization expense of $0.75 million, $0.60 million and $0.08 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.


	Three Months Ended March 31, 2025
			Rare		Heavy
			Earth		Mineral		Consolidated
	Uranium		Elements		Sands		Total
Revenues	$	1,355	$	—	$	15,543	$	16,898
Operating costs and expenses:
Costs applicable to revenues	—		—		18,124		18,124

Exploration, development and processing (excluding share-based compensation)(1)	5,196		—		1,250		6,446
Standby(1)	1,867		—		—		1,867
Accretion of asset retirement obligations	346		—		727		1,073

Selling, general and administrative (excluding share-based compensation)	4,659		3,111		5,206		12,976
Share-based compensation	888		504		1,213		2,605

Total operating costs and expenses	12,956		3,615		26,520		43,091
Operating loss	$	(11,601)	$	(3,615)	$	(10,977)	$	(26,193)

(1) Includes depreciation, depletion and amortization expense of $0.48 million, $0.71 million and $0.09 million related to the uranium, REE and HMS segments, respectively. Depreciation, depletion and amortization expense is included in Exploration, development and processing and Standby on the unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss.