<SEC-DOCUMENT>0001104659-25-039227.txt : 20250425
<SEC-HEADER>0001104659-25-039227.hdr.sgml : 20250425
<ACCEPTANCE-DATETIME>20250425120814
ACCESSION NUMBER:		0001104659-25-039227
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		3
FILED AS OF DATE:		20250425
DATE AS OF CHANGE:		20250425

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRUS ENERGY CORP
		CENTRAL INDEX KEY:			0001065059
		STANDARD INDUSTRIAL CLASSIFICATION:	MINING, QUARRYING OF NONMETALLIC MINERALS (NO FUELS) [1400]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				522107911
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14287
		FILM NUMBER:		25871303

	BUSINESS ADDRESS:	
		STREET 1:		6901 ROCKLEDGE DR
		STREET 2:		SUITE 800
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817
		BUSINESS PHONE:		3015643200

	MAIL ADDRESS:	
		STREET 1:		6901 ROCKLEDGE DR
		STREET 2:		SUITE 800
		CITY:			BETHESDA
		STATE:			MD
		ZIP:			20817

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	USEC INC
		DATE OF NAME CHANGE:	19980629
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WASHINGTON, DC 20549 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(RULE 14a-101) </B></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN PROXY STATEMENT </B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Filed by the Registrant <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 95%; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
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    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Soliciting Material Pursuant to &sect;240.14a-12</FONT></TD></TR>
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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Centrus Energy Corp. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.25pt; text-align: center; text-indent: -11.25pt"><B>(Name of
Registrant as Specified in its Charter) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 11.25pt; text-align: center; text-indent: -11.25pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Name of Person(s) Filing Proxy Statement, if
Other Than the Registrant) </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt; width: 95%"><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
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    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
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    <TD STYLE="vertical-align: bottom; padding-top: 2.65pt; padding-bottom: 1.5pt"><FONT STYLE="font-size: 10pt">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><IMG SRC="tm252408-3_def14aimg002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 25%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amir V. Vexler</B></FONT></TD>
    <TD STYLE="width: 50%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(301) 564-3300 </B></FONT><I>phone</I></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>President&nbsp;&amp; Chief Executive Officer</I></FONT></TD>
    <TD STYLE="text-align: justify"></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(240) 630-7808</B></FONT> <I>fax</I></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">April&nbsp;25, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear fellow shareholders:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The past year has been one
of remarkable progress for Centrus &ndash; putting us in a strong position as we lead the effort to restore America&rsquo;s ability to
enrich uranium at scale. Centrus is the only company currently enriching uranium with U.S.-owned, U.S.-origin enrichment technology backed
by an American supply chain and powered by American workers. Moreover, we have the unique capability to meet national security needs for
uranium enrichment. Together, these put Centrus in a strong position to compete for $3.4 billion in available funding from the Department
of Energy (DOE) to support domestic commercial and national security needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Last year, in the face of
geopolitical turmoil, we continued to grow while positioning ourselves to capitalize on our first-mover advantage. We achieved an annual
revenue of $442 million &ndash; a 38 percent increase over 2023. We continued to deliver strong margins in both of our business segments,
resulting in a gross profit of $111.5 million and operating income of $48 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We simultaneously undertook several initiatives to improve our balance
sheet and capital structure, including:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">eliminating nearly all of our pension obligations;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">executing significant capital raises in the debt and equity markets, strengthening our cash position;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">implementing SG&amp;A optimization efforts yielding identifiable cost reductions;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">investing in our manufacturing capabilities to accelerate our time to deployment for our own plant production;
and finally,</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">securing investment tax credit opportunities to partially fund our efforts.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We ended 2024 with an unrestricted cash balance of $671.4 million,
a 234% increase over 2023&rsquo;s year-end balance, putting us in a stronger position to both weather temporary market turmoil and invest
in the company&rsquo;s long-term growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>A Once-In-A-Generation Moment</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Centrus is proud to be leading the effort to restore America&rsquo;s
ability to enrich uranium at scale. In 2019, the DOE contracted Centrus to build and deploy a small cascade of our advanced centrifuges
in Piketon, Ohio &ndash; demonstrating production of High-Assay, Low-Enriched Uranium (HALEU), the required fuel for most next-generation
reactors. Centrus was awarded a contract to operate this demonstration cascade by the DOE through a competitive process. We began enrichment
operations at the American Centrifuge Plant in Piketon in 2023 &ndash; making it the first new, U.S.-owned, U.S. technology enrichment
plant to begin production in nearly 70 years. These continuous and failure free operations, along with our longstanding track record of
achieving milestones on, or ahead of, schedule and under budget, provide us with the confidence to focus on our expansion opportunity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">While the initial capacity of the current plant is modest, its potential
is massive. With a footprint roughly the size of the Pentagon, it has room for thousands of additional centrifuges &ndash; enough to accommodate
large-scale production of Low-Enriched Uranium (LEU) for existing reactors and HALEU for advanced reactors, while also meeting America&rsquo;s
critical national security requirements for enriched uranium. Our goal is to secure sufficient public and private capital, along with
commercial offtake agreements, to make this happen. And our site has ample room to continue expanding with additional centrifuge halls
up to whatever level of production is required to meet commercial and national security demands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">We have secured approximately $3.7 billion in sales backlog to future
customers. Approximately $2 billion of this is in contingent purchase commitments from our domestic and international customers to support
new LEU production. Contingent upon securing the necessary public and private financing to build the new capacity, they reflect a strong
appetite for new American LEU production and demonstrate customer confidence in Centrus&rsquo; technical capabilities and commercial competitiveness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">The federal government has also stepped up to the plate. With rising
concerns about energy security and America&rsquo;s over-reliance on imported nuclear fuel, Congress has provided more than $3.4 billion
that the Department of Energy can use to jumpstart American nuclear fuel production.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">It is up to the Trump Administration to determine which projects to
fund and how to structure the program, but we are confident in our compelling case as the only American choice that will support American
jobs and the only company that can fulfill national security needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">Our primary competitors for the funding are two European, state-owned
enterprises that manufacture their centrifuges exclusively in the Netherlands through a single, shared entity that utilizes a strictly
European supply chain. And because both use foreign-origin technology, neither can supply America&rsquo;s national security needs for
enriched uranium &ndash; for which a U.S.-origin technology is required.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">In short, the choice for
policymakers is between:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">A)</TD><TD STYLE="text-align: justify">Spending hard-earned U.S. taxpayer dollars in Europe on centrifuges that cannot meet national security
needs, or</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">B)</TD><TD STYLE="text-align: justify">Investing in an American technology, built in the United States by American workers using American materials
and parts, that can meet the full range of commercial <U>and</U> national security requirements.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are proud of our longstanding
relationship with the Department of Energy spanning multiple administrations. While the choice is up to them, we are confident we offer
American taxpayers&rsquo; clear value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While the DOE process is ongoing, we are taking critical steps to position
ourselves to quickly scale up our capacity and capitalize on our first-mover advantage. In late November, we launched a $60 million investment
to restart centrifuge manufacturing and expand the capacity of our centrifuge manufacturing facility in Oak Ridge, Tennessee, laying the
groundwork for the future large-scale deployment of our technology. This investment serves to derisk Centrus&rsquo; supply chain while
reinforcing our first-mover advantage in domestic centrifuge production by kickstarting the process ahead of government funding decisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>A Tremendous Existing Market Poised for Explosive
Growth</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our efforts to restore America&rsquo;s nuclear fuel supply chain have
gained added urgency over the last year. Simply refueling America&rsquo;s existing nuclear power reactors that account for nearly 20%
of U.S. electricity production requires nearly $3 billion worth of uranium enrichment per year at today&rsquo;s prices. But to fuel these
reactors, our country is entirely dependent upon foreign, state-owned enterprises that control virtually 100 percent of the world&rsquo;s
uranium enrichment capacity. Approximately 25% of America&rsquo;s enriched uranium now comes from Russia that, under current law, will
be banned starting in 2028, creating a supply crunch. As the United States looks to end its dependence on imports and re-shore critical
energy security supply chains to strengthen American energy dominance, Centrus expects to be in a great position to secure new business
from existing reactors. And the demand for nuclear energy is only growing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Late last year, Microsoft
signed a 20-year power purchase agreement with Constellation to restart an existing nuclear reactor in Pennsylvania. In March&nbsp;2025,
the Department of Energy released another tranche of funding under a loan guarantee to enable the restart of the Palisades Nuclear Plant
in Michigan. These represent the first reactors to ever restart after closing down &ndash; but they may not be the last. A reactor in
Iowa could be next on the list, and a South Carolina utility is exploring options to resume construction of two unfinished reactors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The fact that these reactors
-- considered uneconomical just a few years ago -- are poised to restart in the coming years reflects the improving prospects of our industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Meanwhile, Google has partnered
with Kairos Power to deploy a fleet of HALEU-fueled reactors totaling 500 megawatts. Amazon has announced a $500 million investment and
a commitment to help deploy four of X-energy&rsquo;s HALEU-fueled reactors in Washington State, along with potential reactor projects
in Virginia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">At Centrus, we&rsquo;re proud
to offer the market with an American source of enriched uranium for these domestic projects. We&rsquo;re also proud to have the only licensed
and operating HALEU production facility in the western world &ndash; with a critical role to play in enabling the deployment of the next
generation of reactors. And we&rsquo;re excited about what these new technologies can mean for our industry.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In short, we envision many
paths to success &ndash; helping transition America&rsquo;s existing reactors away from imports, fueling the next generation of reactors
with HALEU, and/or meeting America&rsquo;s critical national security requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Thank you for your continued
support of Centrus and our important work for the nation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%; font-size: 10pt">Sincerely yours,</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><IMG SRC="tm252408-3_def14aimg003.jpg" ALT=""></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amir V. Vexler</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and CEO</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">STOCKHOLDERS ARE URGED TO READ THE 2025 PROXY
STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT CENTRUS HAS FILED OR WILL FILE WITH THE SECURITIES AND EXCHANGE COMMISSION (&ldquo;SEC&rdquo;)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FORWARD-LOOKING STATEMENTS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain statements contained in this communication
are forward-looking statements including, but not limited to, statements that are predication of or indicate future events, trends, plans,
or objectives. Undue reliance should not be placed on such statements because, by their nature, they are subject to known and unknown
risks and uncertainties. Forward-looking statements are not guarantees of future performance, events, or results and involve known and
unknown risks, uncertainties, and other factors which may be beyond our control. Due to such risk and uncertainties, actual events or
results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Important factors that could cause actual results
to differ materially from the expectations set forth in this communication include, among other things, the factors identified in our
public filings. Such forward-looking statements should be construed in light of such factors, and we are under no obligation, and expressly
disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law. See our Annual Report on Form&nbsp;10-K filed with the SEC on February&nbsp;7, 2025, for
additional information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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</SEC-DOCUMENT>
