ENERGY FUELS INC

The Group is a global manufacturer of magnetic materials and product solutions, headquartered in Hanau, Germany, with operations across Europe, Asia and North America. The Group specializes in engineered magnetic materials used in automotive and electrified mobility, industrial automation, defense and aerospace, renewable energy, power electronics and medical applications. The Group consists of Ara VAC TopCo GmbH and its subsidiaries and Ara VAC TopCo US LLC and its subsidiaries, each directly and indirectly controlled by IE Aggregator. The Group’s ultimate parent is Ara Fund III GP, Ltd., Cayman Islands, which exercises control through Ara VAC Holdings, Ltd. and Ara VAC Blocker, SLP.

The Group has more than one hundred years of experience in the field of materials science. Product development within the Group is highly specialized and focused on meeting individual customer requirements.

The Group is active in a wide variety of growth markets and technology segments and develops, manufactures, and sells specialized alloys, materials, parts, components, permanent magnets and applied magnetic solutions. The Group’s product range includes a wide range of advanced semi-finished products and components. These are used in a variety of areas and industries, such as automotive systems, industrial automation and robotics, alternative energy as well as aerospace, defense, and logistics, tracking and medical technology. The Group is a global group of companies with numerous production sites in Europe and Asia and a research and development center in Germany.

The Group operates in three business divisions, which follow the value-added approach and depict the actual production and value-added processes contained in the respective end products:

Rapid Solidification - designs and manufactures soft-magnetic alloys (amorphous and nanocrystalline) on an industrial scale. The product portfolio consists of magnetic cores, inductive components, and current sensors through to complete assemblies, serving customers in industrial power electronics, automotive, solar technology, charging infrastructure for electric vehicles, and aerospace and defense applications;

Crystalline - designs and manufactures soft-magnetic alloys (NiFe, CoFe) used across industries including automotive, industrial, defense and aerospace, and renewable energy applications. Alloys are melted in vacuum induction furnaces at the Hanau plant and manufactured in the form of strips, wires, and further processed products, including stamped parts, rotor and stator assemblies, and precision sensor components; and

Permanent Magnets - develops and manufactures high-performance sintered rare-earth permanent magnets, including neodymium-iron-boron (VACODYM®) and samarium-cobalt (VACOMAX®) magnets, as well as magnet assemblies. These products are used primarily in automotive (including EV traction motors), industrial, defense, and aerospace applications. VAC is one of a limited number of manufacturers producing sintered rare-earth permanent magnets at scale outside of Asia.