Silex Systems (SLX) investor relations material

Strategic positioning and technology

• Advancing third-generation SILEX laser enrichment technology for uranium, classified by US and Australian governments, with a focus on commercialisation in the US through Global Laser Enrichment (GLE).

• GLE is a joint venture with 51% ownership, providing both equity and perpetual royalty streams from enrichment revenues.

• SILEX technology offers higher efficiency and throughput compared to traditional centrifuge methods, aiming for lower costs and improved supply chain security.

Market drivers and industry context

• Global nuclear fuel markets are tightening due to geopolitical events, notably Russia's invasion of Ukraine, leading to significant price increases for uranium, conversion, and enrichment services.

• US legislation now prohibits Russian uranium imports from 2028, creating strong demand for domestic enrichment solutions.

• The US nuclear fleet is highly dependent on imports, with GLE's Paducah Laser Enrichment Facility (PLEF) positioned to address domestic supply gaps.

Project milestones and commercialisation progress

• Key technology demonstration (TRL-6) completed in October 2025, independently validated, de-risking the path to commercialisation.

• PLEF site acquired in Kentucky, with initial site works underway and NRC licence application accepted in August 2025.

• GLE awarded US DOE funding of up to $28.5m and a $98.9m incentive package from Kentucky for PLEF development.

• Targeting initial commercial operations by 2030, with feasibility assessment and final investment decision pending.