Basic net income per share is calculated by dividing net income allocable to common stockholders by the weighted average number of shares of Common Stock outstanding during the period. In calculating diluted net income per share, the number of shares is increased by the weighted average number of potential common shares related to stock compensation awards, including RSUs, restricted stock, and shares issuable under convertible notes. No dilutive effect is recognized in a period in which a net loss has occurred.

On September 9, 2026, Centrus entered into an underwriting agreement and sold (i) 500,000 shares of Class A Common Stock, (ii) pre-funded warrants to provide for the purchase, upon exercise, of up to 2,005,513 shares of Class A Common Stock, and (iii) common warrants to provide for the purchase, upon exercise, of up to 6,992,382 shares of Class A Common Stock. Each pre-funded warrant has a nominal exercise price of $0.10 and so these instruments are included in the basic weighted average number of common and common equivalent shares for the three and nine months ended September 30, 2026. The dilutive impact of the common warrants on the calculation of diluted income per share is considered using the treasury stock method. However, the dilutive impact of the common warrants is limited to in-the-money portion, based on the exercise price. For the three and nine months ended September 30, 2026, all of the common warrants are antidilutive. Refer to Note 11, Warrants, for additional information on this transaction.

On November 7, 2024, Centrus issued $402.5 million aggregate principal amount 2.25% Convertible Notes due 2030. On August 18, 2025, Centrus issued $805.0 million aggregate principal amount 0% Convertible Notes due 2032. The dilutive impact of both the 2.25% Convertible Notes and 0% Convertible Notes on the calculation of diluted income per share is considered using the if-converted method. However, because the principal amount of the 2.25% Convertible Notes and 0% Convertible Notes must be settled in cash, the dilutive impact of applying the if-converted method is limited to the in-the-money portion, if any, of the 2.25% Convertible Notes and 0% Convertible Notes.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator (in millions):
Net income	$	31.6	$	3.9	$	58.4	$	60.0




Denominator (in thousands):
Average common shares outstanding - basic	20,632		18,317		20,098		17,672
Potentially dilutive shares related to equity-compensation awards	37		51		42		63
Potentially dilutive shares related to 2.25% Convertible Notes	1,743		2,309		2,099		1,230

Average common shares outstanding - diluted	22,412		20,677		22,239		18,965

Net income per share (in dollars):
Basic	$	1.53	$	0.21	$	2.91	$	3.40
Diluted	$	1.41	$	0.19	$	2.63	$	3.16

Common stock equivalents excluded from the diluted calculation because they would have been antidilutive (in thousands)	5		—		—		—
0% Convertible Notes (if-converted) excluded from the diluted calculation because they would have been antidilutive (in thousands)	1,264		133		552		2,290

Warrants excluded from the diluted calculation because they would have been antidilutive (in thousands)	1,109		—		238		—