YELLOW CAKE RECEIVES DTC ELIGIBILITY

28 December 2022

Yellow Cake plc ("Yellow Cake" or the "Company")

Yellow Cake Receives DTC Eligibility

Yellow Cake is pleased to announce that The Depository Trust Company ("DTC") has confirmed that the Company's ordinary shares (the "Shares") are eligible to be electronically cleared and settled through DTC ("DTC Eligibility"). DTC Eligibility makes the Shares more accessible to investors in the United States.

Yellow Cake trades on the OTCQX® Best Market, the OTC Markets Group's premier market for established companies. Yellow Cake's Shares are also quoted on the AIM market of the London Stock exchange under the ticker symbol "YCA".

DTC is a subsidiary of the Depository Trust and Clearing Corporation, a U.S. company that manages the electronic clearing and settlement of publicly traded companies. DTC Eligibility incorporates an electronic method of clearing securities, speeding up the receipt of stock and cash, and thus accelerates the settlement process for certain investors. DTC is a member of the U.S. Federal Reserve System, a limited-purpose trust company under New York State banking law and a registered clearing agency with the U.S. Securities and Exchange Commission.

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ABOUT YELLOW CAKE

Yellow Cake is a London-quoted company, headquartered in Jersey, which offers exposure to the uranium spot price. This is achieved through its strategy of buying and holding physical triuranium octoxide ("U3O8"). It may also seek to add value through other uranium related activities. Yellow Cake seeks to generate returns for shareholders through the appreciation of the value of its holding of U3O8 and its other uranium related activities in a rising uranium price environment. The business is differentiated from its peers by its ten-year Framework Agreement for the supply of U3O8 with Kazatomprom, the world's largest uranium producer. Yellow Cake currently holds 18.81 million pounds of U3O8, all of which is held in storage in Canada and France.