Anfield Energy Amends Previously Announced Private Placement: US$6,000,000 Non-Brokered LIFE Offering of Common Shares and Concurrent US$4,000,000 Non-Brokered Private Placement of Subscription Receipts

Anfield Energy Amends Private Placement Terms

Anfield Energy Inc. (“Anfield” or the “Company”) has announced amendments to its previously announced non-brokered private placement. The offering will now consist of up to 1,345,292 common shares in the capital of the Company (the “LIFE Shares”) at a price of US$4.46 per LIFE Share (the “Issue Price”) for gross proceeds to the Company of up to US$6,000,000 (the “LIFE Offering”).

The Company also announces that Uranium Energy Corp. (“Uranium Energy”) has indicated an intention to subscribe for up to 896,861 subscription receipts of the Company (the “Subscription Receipts”) at the Issue Price in a concurrent non-brokered private placement (the “Concurrent Offering”, and together with the LIFE Offering, the “Offering”) for gross proceeds to the Company of up to US$4,000,000. As a result, the total gross proceeds from the Offering are expected to be up to US$10,000,000.

Use of Proceeds and Offering Details

The Company intends to use the net proceeds from the Offering to fund capital commitments to the West Slope Project, Velvet-Wood Project, the Slick Rock Project, and Shootaring Canyon Mill and for general corporate purposes and working capital. Each Subscription Receipt will entitle Uranium Energy to receive, upon satisfaction of the Escrow Release Conditions, one common share in the capital of the Company (each, a “Common Share”), without payment of additional consideration and without further action on the part of Uranium Energy.

The Offering is expected to close on or about December 31, 2025 or such other date as may be mutually agreed by the Company and Uranium Energy in respect of the Concurrent Offering, and is subject to customary closing conditions, including receipt of required approvals of the TSX Venture Exchange (“TSXV”) and the Nasdaq Capital Market LLC (“NASDAQ”).

Regulatory Considerations and Forward-Looking Statements

The Company’s participation in the Concurrent Offering constitutes a “related party transaction” within the meaning of TSXV Policy 5.9 – Protection of Minority Security Holders in Special Transactions and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of the Concurrent Offering.

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