Silex Systems (SLX) Investor Presentation summary

Investment highlights and business overview

• Proprietary third-generation SILEX laser enrichment technology targets uranium and nuclear fuel production, classified by US and Australian governments.

• Joint venture Global Laser Enrichment (GLE) is 51% owned, with Cameco holding 49%.

• GLE has exclusive access to US Department of Energy uranium tails, providing up to 30 years of feedstock.

• Additional growth opportunities include quantum silicon for quantum computing and medical isotope enrichment.

• Cash and term deposits of $93.1m as of 31 December 2024, with no corporate debt.

SILEX technology and commercialisation progress

• Large-scale TRL-6 pilot demonstration at GLE's Wilmington, NC facility is underway, with completion targeted by end of 2025.

• GLE acquired a 665-acre site in Paducah, KY for the planned commercial Paducah Laser Enrichment Facility (PLEF).

• GLE's commercialisation plan includes submission of a full construction and operation license application to the US NRC in mid-2025.

• GLE selected for US DOE's $3.4bn LEU Enrichment Acquisition program, with initial funding awarded.

• Executive Orders and new US legislation support domestic nuclear fuel production and GLE's activities.

Market context and opportunities

• Global nuclear industry is experiencing a renaissance, driven by Net Zero targets and energy security concerns.

• US is the largest nuclear power producer, but imports ~95% of uranium and ~70% of enriched uranium.

• PLEF aims to produce up to 5 million lbs of natural uranium and 2 million kg of conversion capacity annually for up to 30 years.

• Significant uncovered US uranium and enrichment demand forecast from 2030, aligning with GLE's target commercial operation date.

• Western supply chain risks and sanctions on Russian nuclear fuel are driving price increases and demand for alternative suppliers.