newcleo (NWCL) investor relations material

Transaction overview and partnership structure

• Announced business combination with NHIC III, valuing the company at ~$2.4bn pre-transaction, with $213m cash in trust and $220m PIPE commitments to fund commercialization and growth.

• Pro forma ownership: 84.3% existing shareholders, 8.2% SPAC, 7.6% PIPE investors.

• NHIC III brings extensive de-SPAC experience, public company readiness, and ongoing post-close involvement to support long-term value creation.

Technology and business model

• Vertically integrated Gen IV nuclear technology platform, combining lead-cooled fast reactors (LFR) and MOX fuel manufacturing for a closed fuel cycle.

• LFRs offer inherent/passive safety, high thermal efficiency, and emission-free, low-cost baseload power.

• MOX fuel enables recycling of plutonium from spent fuel, reducing waste and securing long-term supply.

• Diverse revenue streams: reactor licenses, engineering services, MOX fuel sales, and EPCM contracts.

Commercialization roadmap and milestones

• Hardware deployment roadmap includes OTHELLO (2 MWth, operational 2025), PRECURSOR (10 MWth, operational 2026), US MOX factory (40 tHM/year, 2031), and US LFR FOAK (200 MWe, 2032).

• 9.2 GW commercial pipeline across US and Europe, targeting utilities, data centers, and industrial users.

• Strategic partnerships with Oklo, JAVYS, NextChem, and others to accelerate deployment and supply chain integration.