Centrus Energy Corp.

07/19/2024 | Press release | Distributed by Public on 07/19/2024 07:47

Material Event Form 8 K

Item 8.01 Other Events
On May 13, 2024. the Prohibiting Russian Imports Act (the "Act") was enacted into law. The Act bans imports of low enriched uranium ("LEU") from Russia beginning on August 11, 2024, subject to the issuance of waivers by the U.S. Department of Energy ("DOE") through 2027. In accordance with the instructions published by the DOE on May 24, 2024, Centrus Energy Corp. (the "Company") filed its first waiver request application on May 27, 2024, to permit the importation of LEU already committed for delivery to its U.S. customers in 2024 through 2027.
On July 18, 2024, the DOE issued the Company a waiver allowing it to import LEU from Russia for deliveries already committed by the Company to its U.S. customers in years 2024 and 2025. For the years 2026 and 2027, the DOE deferred its decision to an unspecified date closer in time to the deliveries.
On June 7, 2024, the Company filed a second waiver request application to allow for importation of LEU from Russia for processing and reexport to the Company's foreign customers and is awaiting DOE's determination.
The Company plans to file a third waiver request application to allow for importation of LEU from Russia in 2026 and 2027 for use in the U.S. that have yet to be committed to our customers.
It is uncertain whether any further waivers will be granted to the Company and, if granted, whether any waiver would be granted in a timely manner or will be sufficient in scope to support the Company's intended operations.
Forward-Looking Statements
Certain matters contained in this Current Report on Form 8-K concerning expected future events and financial results constitute forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are based upon management's expectations and beliefs concerning such future events impacting the Company. There can be no assurance that these future events will occur as anticipated or that the effect on the Company's results will be as estimated. Forward-looking statements speak only as of the date they were made, and the Company undertakes no obligation to publicly update them. For a description of certain factors that could cause the Company's future results to differ from those expressed in any such forward-looking statements, see the risk factors that are included in the Company's reports filed with the Securities and Exchange Commission, including those described under "Risk Factors" in its annual report on Form 10-K for the year ended December 31, 2023.