Silex Systems (SLX) Investor Presentation summary

Equity raising and use of proceeds

• Raising approximately $130 million via institutional placement and $15 million through a share purchase plan, with shares priced at $3.90, representing a 15.8% discount to the last close and a 10.5% discount to the 5-day VWAP.

• Proceeds, combined with existing cash of $69.6 million, will primarily fund Silex's 51% share in GLE's commercialisation of SILEX uranium enrichment technology in the US, as well as other isotope production opportunities and general corporate purposes.

• Following the placement, Silex is expected to be fully funded through to the end of FY2028.

• The equity raising positions GLE and Silex to continue commercialising SILEX uranium enrichment technology towards commercial deployment by 2030.

• J.P. Morgan Securities Australia Limited and Canaccord Genuity (Australia) Limited acted as Joint Lead Managers and Bookrunners.

SILEX technology and commercialisation strategy

• SILEX is a third-generation, laser-based uranium enrichment technology, offering higher efficiency and throughput compared to centrifuge technology.

• GLE, a US-based JV (Silex 51%, Cameco 49%), is commercialising SILEX technology, with a focus on the Paducah Laser Enrichment Facility (PLEF) in Kentucky.

• The PLEF project targets production of natural uranium, LEU/LEU+, and HALEU, leveraging DOE's depleted uranium tails inventories for up to 30 years of feedstock.

• Silex stands to benefit from both equity ownership in GLE and perpetual royalties of 7–12% on GLE's enrichment revenues.

• SILEX technology is classified by US and Australian governments, with strict trade-secret protocols and no patent disclosures permitted.

Project milestones, market context, and government support

• Large-scale TRL-6 pilot demonstration at GLE's Wilmington facility commenced in May 2025, with completion expected by end of CY2025, subject to independent assessment.

• GLE acquired a ~700-acre site in Paducah, KY, for the planned PLEF commercial plant.

• GLE is one of six awardees for the US$3.4bn DOE LEU Enrichment Acquisition RFP, with potential to secure up to US$900m in funding.

• US legislation, including the Prohibiting Russian Uranium Imports Act and executive orders to boost US nuclear energy, provide strong tailwinds.

• The PLEF NRC license application was submitted in July 2025 and is under review.