On October 5, 2020, the U.S. Department of Commerce (the “Department”) and the Russian State Atomic Energy Corporation (“ROSATOM”) signed a 20-year extension of the Russian Suspension Agreement (“RSA”). The signed extension of the RSA was unchanged from the proposed extension initialed in September 2020 as described in our Form 8-K filed on September 14, 2020.

The RSA is a trade agreement between the United States and Russia that suspends an antidumping duty investigation of Russian uranium and allows for limited imports, subject to annual quotas. The RSA applies to imports by Centrus Energy Corp. (the “Company”) under its long-term supply agreement with TENEX. The agreement protects existing supply contracts that U.S. companies – including Centrus – have signed in good faith. Quotas provided in the extension are expected to be adequate to support the Company’s long term strategic goals and to permit enriched uranium delivered during the remaining term of the Company’s contract with TENEX to be imported to supply U.S. utilities, thereby securing a key part of Centrus’ diverse supply base for the benefit of its customers and providing the revenues needed by Centrus to support its work on high-assay low-enriched uranium (HALEU) and other advanced technology projects in the United States.

For further information on the risks and uncertainties discussed in this and our other filings with the Securities and Exchange Commission, including under Part 1. Item1A – “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019, and our quarterly reports on Form 10-Q.