Westwater Resources Announces First Off-Take Agreement for Sale of Graphite from its Kellyton Plant, Financial Terms Unidsclosed

Westwater Resources, Inc. (NYSE:AMERICAN), an energy technology and battery-grade natural graphite company ("Westwater Resources" or "Westwater"), today announced the execution of its first off-take agreement with SK On Co., Ltd. ("SK On" and such agreement, the "Off-Take Agreement"), a leading electric vehicle ("EV") battery manufacturer, supplying electric vehicle batteries to Ford, Hyundai, Volkswagen and others.

Pursuant to the terms of the Off-Take Agreement, Westwater will supply CSPG-10 natural graphite anode products (the "Product") from its Kellyton Graphite Plant located near Kellyton, Alabama to SK On battery plants located within the U.S. Under the terms of the Procurement Agreement, SK On will be obligated to purchase, on an annual basis, a quantity of Product equal to a percentage of the forecasted volume required by SK On (the "Minimum Purchase Amount"), provided that the Minimum Purchase Amount may be increased from time to time by the mutual agreement of the parties. The forecasted volume required by SK On in the final year of the Off-Take Agreement is 10,000 mt of Product.