Centrus Energy Selects Geiger Brothers as Construction Contractor for Major Uranium Enrichment Plant Expansion

Selection expands Centrus’ growing best-in-class partnership network

and provides avenues for potential cost mitigation

Bethesda, Md. — Centrus Energy Corp. (NYSE: LEU) today announced that it has selected Geiger Brothers, Inc. as the construction contractor for the Company’s previously announced, multi‑billion‑dollar expansion of its uranium enrichment capacity in Piketon, Ohio. This marks another major milestone as Centrus accelerates its effort to deploy thousands of additional centrifuges to produce Low-Enriched Uranium (LEU) and High-Assay, Low-Enriched Uranium (HALEU) Centrus is the only company with deployment-ready technology that can meet both commercial and U.S. national security demands.

As previously announced, Fluor Corporation is serving as the project’s Engineering, Procurement, and Construction (EPC) contractor. Fluor is overseeing engineering, design, project management, supply chain activities, and procurement of key materials and services, while crews from Geiger Brothers will conduct the on-the-ground construction work in Ohio.  Centrus believes this structure generates efficiencies that could mitigate some project costs.

“Geiger Brothers brings more than a century of experience and a strong Ohio workforce to our project,” said Centrus President and CEO Amir Vexler. “Their deep expertise in complex industrial construction, including work across the energy and nuclear sectors, makes them an ideal partner as we scale up production capacity. This partnership is another example of our commitment to bring in lead times and reduce unit costs for our project. With Fluor’s global EPC leadership and Geiger’s local capabilities, we are assembling a best‑in‑class team to deliver this expansion safely, efficiently, and on schedule.”

A Proven Ohio-Based Construction Leader

Founded in 1909 and headquartered in Jackson, Ohio, Geiger Brothers is a multi‑craft, multi‑discipline construction and engineering firm with more than 100 years of experience delivering mechanical, electrical, plumbing, fabrication, and industrial construction projects. The company provides integrated construction solutions across Ohio, Kentucky, West Virginia, and Tennessee, and is known for its rigor in safety, quality, and execution.

Geiger Brothers’ portfolio includes work across energy, infrastructure, industrial, commercial, and nuclear markets. As an employee‑owned company, Geiger Brothers emphasizes craftsmanship, responsiveness, and continuous improvement—qualities that align with Centrus’ commitment to operational excellence.

Notably, Geiger Brothers served as a key construction partner in the deployment of Centrus’ existing HALEU cascade as well as an earlier LEU demonstration cascade which was completed in 2013.

“We are proud to support this historic investment in America’s nuclear fuel supply chain,” said Erik Massie, President and Chief Financial Officer of Geiger Brothers.  “Our roots are in Ohio, and we look forward to contributing to a project that strengthens U.S. energy security, creates local jobs, and bolsters domestic manufacturing.”

About the Expansion Project

Centrus’ multi‑billion‑dollar expansion will add thousands of AC100M centrifuges at its American Centrifuge Plant in Piketon, restoring America’s ability to enrich uranium at a large scale with domestic technology. Fluor and Geiger Brothers will work alongside Centrus’ existing manufacturing and engineering teams to advance the next phase of construction.  Centrifuge manufacturing to support the expansion launched in December 2025 at Centrus’ centrifuge manufacturing plant in Oak Ridge, Tennessee.

This expanded capacity will support Centrus’ $2.3 billion commercial LEU backlog and provide at least 12 metric tons per year of urgently-needed HALEU production capacity. 

About Centrus Energy Corp.

Centrus Energy is a trusted American supplier of nuclear fuel and services for the nuclear power industry, helping meet the growing need for clean, affordable, carbon-free energy. Since 1998, the Company has provided its utility customers with more than 1,850 reactor years of fuel, which is equivalent to more than 7 billion tons of coal.

With world-class technical and engineering capabilities, Centrus is pioneering production of High-Assay, Low-Enriched Uranium and is leading the effort to restore America’s uranium enrichment capabilities at scale so that we can meet our clean energy, energy security, and national security needs. Find out more at www.centrusenergy.com or follow us on LinkedIn and X.

Forward Looking Statements

This news release contains “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-looking statements mean statements related to future events, which may impact our expected future business and financial performance, and often contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “will”, “should”, “could”, “would” or “may” and other words of similar meaning. These forward-looking statements are based on information available to us as of the date of this news release and represent management’s current views and assumptions with respect to future events and operational, economic and financial performance. 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.

For Centrus Energy Corp., particular factors that involve uncertainty and could cause our actual future results to differ materially from those expressed in our forward-looking statements and which are, and may be, exacerbated by any worsening of the global business and economic environment include but are not limited to the following: the war in Ukraine and other geopolitical conflicts; restrictions on imports and exports, including those imposed under the RSA, and related international trade legislation; our government contracts, including related to changes to the U.S. government’s appropriated funding levels for HALEU and the government’s inability to satisfy its obligations, our lease to our facility in Piketon, Ohio, and our receipt of additional task orders under the HALEU Production Contract, LEU Production Contract and HALEU Deconversion Contract and, if awarded, the nature, timing and amount thereof; whether or when government demand for HALEU or LEU for government or commercial uses will materialize and at what level; the impact and potential extended duration of a supply/demand imbalance in the market for LEU; significant competition from major LEU producers, including foreign competitors, who may be less cost sensitive then we are; limitations on our ability to compete in foreign markets; pricing trends and demand in the uranium and enrichment markets, especially in light of the potential of limited supply and our dependence on others for deliveries of LEU; and our ability to successfully implement our planned expansion projects in Piketon, Ohio and Oak Ridge, Tennessee.

Readers are cautioned not to place undue reliance on these forward-looking statements, which apply only as of the date of this news release. These factors may not constitute all factors that could cause actual results to differ from those discussed in any forward-looking statement. Accordingly, forward-looking statements should not be relied upon as a predictor of actual results. Readers are urged to carefully review and consider the various disclosures made in this news release and in our filings with the SEC, including our most recent Annual Report on Form 10-K, under Part II, Item 1A – “Risk Factors” in our subsequent Quarterly Reports on Form 10-Q, and in our other filings with the SEC that attempt to advise interested parties of the risks and factors that may affect our business. We do not undertake to update our forward-looking statements to reflect events or circumstances that may arise after the date of this news release, except as required by law.

Contacts:

Media: Dan Leistikow at LeistikowD@centrusenergy.com

Investors: Neal Nagarajan at NagarajanNK@centrusenergy.com