News Release

Industry leaders bring decades of experience and expertise to support company’s long-term plans

BETHESDA, Md.--(BUSINESS WIRE)--Aug. 25, 2015-- Centrus Energy Corp. (NYSE MKT: LEU) announced today that Kevin Alldred will be appointed as senior vice president, business strategy and Elmer Dyke as senior vice president, business operations. Alldred and Dyke’s appointments will be effective on October 1 and September 1, respectively.

“As we work to refocus our business and meet our customers’ needs, I am delighted to welcome these seasoned veterans to the team,” said Daniel B. Poneman, Centrus president and chief executive officer. “With our vision of making Centrus a trusted and reliable nuclear fuel and services provider in the coming years, their intimate knowledge of the industry and the market will make them a valuable addition to our management team.”

Mr. Alldred will lead the company’s effort in strategic business planning and the development of new business and market opportunities designed to advance Centrus shareholders’ interests through project development, contractual arrangements, and strategic business alliances. He will be responsible for identifying and expanding business opportunities beyond the LEU business segment in commercial and governmental markets, in order to satisfy Centrus customers’ requirements.

“Centrus and its predecessors have played a pivotal role in nuclear energy and national security for decades,” said Alldred. “Collectively the team has centuries of experience that can be leveraged to grow the company with new partners and in new lines of business. I look forward to leading that effort in the years to come as we continue to support critical missions here in the United States and in markets around the world.”

Mr. Dyke will be responsible for all aspects of the company’s Low Enriched Uranium (LEU) business. This includes the sourcing, sales, and delivery of LEU and uranium to customers in the United States and around the world.

“I believe Centrus is in a good position to support our customers’ needs,” said Dyke. “With our solid track record of on-time and on-spec deliveries, and a new focus on putting the customer first, we have a great opportunity to assure that the nuclear fuel market remains diverse, reliable, and competitively priced.”

Background on Alldred

Mr. Alldred has more than 30 years of nuclear industry experience in senior roles focused on international project and program management, nuclear fuel trading, isotope trading, sales and marketing, and radioactive waste management. He has also provided consulting support to governments and commercial organizations, including training in strategic and financial planning and analyses.

Most recently, Mr. Alldred worked for the International Atomic Energy Agency (IAEA), where he was project manager for the IAEA LEU Bank in Kazakhstan. Mr. Alldred established the project team and project and financial plans, and negotiated treaty level agreements for the LEU bank and supporting technical agreements.

Prior to his work with the IAEA, Mr. Alldred advised governments and private corporations on nuclear fuel and reactor issues. He previously worked for RWE Nukem, launching their U.S. isotope trading business, and before that he held various management positions at British Nuclear Fuels Ltd in both a sales and project management capacity.

Background on Dyke

Mr. Dyke has 30 years of experience and leadership in the nuclear industry focusing on the nuclear fuel cycle and nuclear nonproliferation issues. He has consulted for the U.S. Department of Energy (DOE), the National Nuclear Security Administration and other U.S. government organizations, including several U.S. National Laboratories and numerous international agencies.

Mr. Dyke most recently served as vice president for sales at NAC International, where he drove the company’s business development and international sales efforts. He also served as senior vice president of NAC’s global consulting business, where he led a group of internationally recognized experts on the comprehensive nuclear fuel cycle, management and strategy, nuclear fuel performance, training, financial and strategic analysis, nuclear quality assurance, safeguards and security, and nuclear industry human resource development.

Previously, Mr. Dyke led Booz Allen Hamilton's business practice on nuclear nonproliferation and nuclear security, working closely with the U.S. Department of Homeland Security, DOE as well as the U.S. nuclear industry on a wide spectrum of energy and security consulting projects.

About Centrus Energy Corp.

Centrus Energy Corp. is a trusted supplier of enriched uranium fuel for commercial nuclear power plants in the United States and around the world.

Forward Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 - that is, statements related to future events. In this context, forward-looking statements may address our expected future business and financial performance, and often contain words such as “expects”, "anticipates", "intends", "plans", "believes", "will", "should", "could" or "may" and other words of similar meaning. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. For Centrus Energy Corp., particular risks and uncertainties that could cause our actual future results to differ materially from those expressed in our forward-looking statements include risks related to the ongoing transition of our business, and other risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K and quarterly reports on Form 10-Q, which are available on our website www.centrusenergy.com. We do not undertake to update our forward-looking statements except as required by law.

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Source: Centrus Energy Corp.

Centrus Energy Corp.
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