Lightbridge (LTBR) investor relations material

Strategic vision and market opportunity

• Aims to set a new global standard in nuclear fuel, offering major improvements in safety, performance, economics, waste reduction, and proliferation resistance compared to current fuels.

• Designed for both new and existing reactors, targeting a $20+ billion market.

• Supports grid flexibility and renewable integration by enabling quicker ramp rates and load-following capabilities.

• Anticipates significant waste reduction and enhanced non-proliferation benefits.

Technology and product development

• Fuel operates nearly 1000°C cooler than conventional fuel, improving safety and efficiency.

• Features include absence of spacer grids, metallurgic bonding, increased cladding thickness, and a unique tri-lobe rod design.

• Ongoing testing at U.S. national labs, with recent successful co-extrusion demonstration at Idaho National Laboratory.

• Initiated irradiation testing of enriched uranium-zirconium alloy fuel samples at INL's Advanced Test Reactor in November 2025.

Safety and operational advantages

• Lower operating temperatures reduce hydrogen generation and buy more time during accidents.

• Improved structural integrity and heat transfer, with no anticipated fission product release during design-basis events.

• Expected to increase reactor capacity factors through longer fuel cycles and rapid power adjustments.