Centrus transfers $234M of pension obligations to insurer; expects $11M Q2 settlement gain

CENTRUS ENERGY CORP

Company agreed to purchase group annuity contract with an insurer to transfer about $234M (79%) of pension liabilities.
Transaction funded by approximately $224M of plan assets; covers over 1,000 beneficiaries.
Expected close on or about June 3, 2024; insurer assumes payments/admin starting September 1, 2024.
Combined with October 2023 transfer, total pension obligation reduction is ~$420M (90%); remaining obligations expected fully funded.

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