Silex Systems (SLX) Investor Presentation summary

Company overview and mission

• Silex Systems focuses on commercializing its proprietary SILEX laser enrichment technology for uranium, silicon, and medical isotope applications.

• The company’s strategy centers on maximizing value from its core technology and expertise.

• SILEX technology is being developed for uranium enrichment with Global Laser Enrichment (GLE), and for quantum silicon production and medical isotope separation.

GLE uranium enrichment project and market context

• GLE, a JV between Silex (51%) and Cameco (49%), is advancing the SILEX uranium enrichment technology toward commercialization.

• GLE targets the 'Triple Opportunity' in nuclear fuel: natural UF6, LEU, and HALEU production, addressing Western supply chain gaps.

• US and EU nuclear fuel markets are highly dependent on Russian supply, with the US importing ~95% of uranium and ~70% of enriched uranium needs.

• Recent US legislation bans Russian uranium imports and allocates $2.7bn to boost domestic nuclear fuel capacity.

• Nuclear fuel prices for uranium, conversion, and enrichment have risen sharply since 2022 due to supply concerns and geopolitical tensions.

Project progress and commercialisation timeline

• GLE’s pilot demonstration project is accelerating, with TRL-6 enrichment testing expected to complete in 2024.

• Completion of the pilot could enable commercial operations at the Paducah Laser Enrichment Facility (PLEF) as early as 2028.

• GLE has secured agreements for land purchase, completed a new facility in Wilmington, and signed LOIs with four major US utilities.

• The PLEF project is underpinned by a DOE agreement to acquire over 200,000 tonnes of legacy tails, supporting up to 5 million lbs of natural uranium production annually for 30 years.

• Silex holds a minimum 25% equity in GLE and is entitled to a perpetual royalty of 7–12% on GLE’s enrichment revenues.