Asp Isotopes Inc. · NASDAQ:ASPI
Asp Isotopes — Investor Presentation (April 2026)
36 slides from Asp Isotopes's investor presentation, Apr 13, 2026
Slide 1: April 2026
April 2026
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains, and our officers and representatives may from time to time make, “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither h
Slide 3: ASP Isotopes: Goal to Strengthen Access to Critical Materials
ASP Isotopes: Goal to Strengthen Access to Critical Materials Scaling capacity, expanding portfolio, and improving unit economics What We Do Differentiated Isotope Enrichment Platform + Aerodynamic Separation Process (ASP) » Quantum Enrichment (QE) High-Value End Markets Electronics | Nuclear Medici
Slide 4: ASP Isotopes: Corporate Structure
ASP Isotopes: Corporate Structure ASP isotopes ASP Isotopes Inc. Delaware, US NASDAQ (ASPI) jen Radiopharmacy Platform Scalable PET isotope manufacturing for the nuclear medicine market ae + Three Radiopharmacies supplying thousands of doses of radiomedicines every year. + Emerging Pipeline of Thera
Slide 5: Three Strategic, Multi-Billion Dollar Market Opportunities
Three Strategic, Multi-Billion Dollar Market Opportunities topes have one of the mo supply chains of any material in the world. The US Department of Energy and the majority of Western governments identify A * Quantum computing, quantum sensing, and Al are expected to drive demand for isotopically El
Slide 6: ASP Isotopes: Operation Updates
ASP Isotopes: Operation Updates Expected Q2 2026 Milestones 8 Electronic First enriched Si-28 product expected to ship in Q2 Expected 2H 2026 Milestones c Targeting initial C-14 commercial shipments around mid-year, depending on arrival of feedstock from Canadian customer? Yb-176 Nuclear Medicine Ta
Slide 7: What is Isotope Enrichment?
What is Isotope Enrichment? Isotope enrichment is the process of increasing the concentration of a desired isotope. For example, enriched Silicon-28 has a concentration of 9.995% vs its 92.2% natural concentration, removing Silicon-29 and 30 isotopes What is an Isotope? ATOMIC STRUC © Atoms of the s
Slide 8: Enriched Isotopes are a Critical but Compromised Supply Chain
Enriched Isotopes are a Critical but Compromised Supply Chain Enriched isotopes have one of the most Isotope Marke severely compromised supply chains of any material in the world with most of the world reliant on Russia for supply. Russia (85%) }159 Rest of the world (15%) ASP Isotopes is working to
Slide 9: Technologies
5 Technologies Differentiated technology platform built to serve large, supply-constrained, high-value isotope markets | ©ASP Isotopes in ASP isotopes
Slide 10: Two Complementary Enrichment Platforms
Two Complementary Enrichment Platforms AERODYNAMIC SEPARATION PROCESS (ASP) UANTUM ENRICHMENT (QE) Utilizes gaseous diffusion via a stationary wall centrifuge paired with Employs precisely tuned lasers and quantum mechanical principles to proprietary flow directors to separate isotopes of varying at
Slide 11: Production Plants: C-14, Si-28 & Yb-176
Production Plants: C-14, Si-28 & Yb-176 Carbon-12/ 14 (C-12/ C-14) Enriched Carbon-12 for advanced semiconductor and quantum computing substrates. Critical feedstock for next-gen chip manufacturing © ASP Isotopes Inc Silicon-28 (Si-28) Enriched Silicon-28 for Gate All Around transistors and advanced
Slide 12: Electronics
Electronics Semiconductors and Quantum Sensing ASP Went ASP isotopes
Slide 13: Electronics: Positioned Across the Specialized Gases Value Chain
Electronics: Positioned Across the Specialized Gases Value Chain Electronic Gases ASP Isotopes is building a strategic position ~ + $ 1 2 B n across high-value segments of the specialized Estimated global market for electronic gases supply chain: electronic gases (estimated 7.5% CAGR)' Silicon-28 fo
Slide 14: Silicon-28: Enabling Next-Generation Semiconductors
Silicon-28: Enabling Next-Generation Semiconductors ‘Standard silicon environment: Enriched Silicon.28 environment Heat generation due to Siicon-29 and Siicon-30 scattering Phonons Reduced scattering supports improved thermal flow Estimated global market for silane in semiconductor ‘Simple visual re
Slide 15: Quantum Computing
Quantum Computing information using bits that exist in one of two states (0 or 1). In contrast, quantum computers employ qubits, which can exist in a superposition of states (and entanglement), enabling them to represent and process multiple possibilities simultaneously 28, = Saye D ae nrichment of
Slide 16: Helium: Critical to Semiconductor Manufacturing
Helium: Critical to Semiconductor Manufacturing Why helium is essential for advanced chip fabrication Helium Applications by Industry (%) Al Chip Market Doubling by 2030 § Semiconductor Mig TT 30% ‘Al-driven chip market forecast to grow at a CAGR of ~16%" Defence Signals & Guidance NN 207% Holm Hard
Slide 17: Virginia Gas Project: Helium Expected by 3Q 2026
Virginia Gas Project: Helium Expected by 3Q 2026 PRODUCTION OVERVIEW Phase 1 Production Phase 2 Expansion + LNG: ~2,500 GJ/day | Revenue >$12M/yr* > LNG: ~34,000 GJ/day | Revenue >$170M/yr* » Liquid Helium: ~58 MCF/day | Revenue >$8M-$19M/yr? » Liquid Helium: ~900 MCF/day | Revenue >$120M/yr? 2026 M
Slide 18: Fluorinated Gases: Enabling Semiconductor Manufacturing
Fluorinated Gases: Enabling Semiconductor Manufacturing 18 ASP Isotopes’ scientists have developed proprietary methods for manufacturing fluorinated compounds and have constructed 2 pilot plant in Pretoria with nameplate capacity of up to 220 tons per annum of fluorinated rare earth metals. © ASP Is
Slide 19: Electronics Isotopes
Electronics Isotopes EXPECTED ISOTOPE APPLICATION R&D EVALUATION CONSTRUCTION MARKET ENTRY TECHNOLOGY Carbon-12 Qc, Semis Ps v o 2026 ASP Silicon-28 QC, Semi's v v v 2026 ASP Germanium-70 ac v v v 2026 ASP Yb-171 ac v 2027+ Qe Nitrogen-15 ac v 2028 _— C14 BetaVoltaics v v v pe ce ASP He-3 Qc, Semi's
Slide 20: Medicine
Medicine Theranostics, PET, and SPECT ASP isotopes
Slide 21: Introduction to Nuclear Medicine
Introduction to Nuclear Medicine Stable Isotope Short Half-Life Radioisotope End Market 21 | @ASP isotopes ine oon 14 Pharmacokinetic Tracing MRI Contrast Yb ASP isotopes samc ee aim Zn Ni ex he esd 68Ga 67Cu 64Cy 177Lu PETScan Oncology Oncology Oncology imaging Treatment Treatment Treatment (NHL, P
Slide 22: Theranostics: Targeting High-Value Cancer Treatment Isotopes
Theranostics: Targeting High-Value Cancer Treatment Isotopes RADIOPHARMACEUTICAL THERANOSTICS “The raciopharmaceulical therancefics represents a significant Pluvicto Consensus Forecast (US$)* >$100 M opportunity in precision oncology, with Lu-177 currently the leading commercial opportunity and Tb-1
Slide 23: PET Labs: Building a Scalable Radiopharmacy Platform
PET Labs: Building a Scalable Radiopharmacy Platform International expansion Expanding the radiopharmacy footprint following Tecent U.S. acquisitions, with additional opportunities under review. =_—=COté—‘(Q PET Lebs SPECT-to-PET strategy Leveraging acquisitions, cyclotron investment, and operating
Slide 24: PET Isotopes: Attractive Diagnostic and Therapeutic Opportunity
PET Isotopes: Attractive Diagnostic and Therapeutic Opportunity 24 PET ISOTOPES >$50 M Ni Global Market Size of Zn and “Ni Nickel-64 vaca + "tu dogposrgne par “Oa exec severe meet eter scite BB Zine-68 Ga is the Key Diagnostic for Most Lutetium and Actinium Based Drugs in Development wa ~15x Increas
Slide 25: Medical Isotopes
Medical Isotopes ISOTOPE Ytterbium-176 Carbon-14 Gadolinium-160 Zinc-68 Xenon-129 Nickel-64 = Complete ASP Isotopes inc = Pending APPLICATION R&D Theranostics Tracing Theranostics PET / Theranostics MRIs PET ASP = Aerodynamic Separation EVALUATION v v v v Vv v v v v v v v Qe antum Enrichment CONSTRU
Slide 26: Advance Multiple Drug Candidates Towards Human Clinical Trials
Advance Multiple Drug Candidates Towards Human Clinical Trials Targeted Radionuclide Therapy (TRT) The drug candidates expected to advance towards human clinical trials in 2026" are part of a pipeline of VHH Nanobodies? Anos oe epee vector conjugated wi Traditional monoclonal antibodies (mAbs) face
Slide 27: Nuclear Energy
Nuclear Energy Capturing Uranium and Lithium Enrichment, Conversion, and Sourcing 7 p In ASP isotopes
Slide 28: Quantum Leap Energy: Capturing a Fragile Nuclear Fuel Line
Quantum Leap Energy: Capturing a Fragile Nuclear Fuel Line Capacity Geopolitical & Operational & Fuel & Reactor Issues Market Risks Safety Risks Constraints + Limited capacity + Non-NATO oligopolies + Logistics and storage hazards + Insufficient materials for * Concentrated material + Materials dive
Slide 29: Quantum Leap Energy: Future Driver of Momentum & Growth
Quantum Leap Energy: Future Driver of Momentum & Growth Our agreements with QLE allow for a future driver of economic growth from an expected 10% liceraisg royaliy'on INVEST DELIVER ACCELERATE revenues and 15% gross margin on ASPI's 2025 - 2027 2028 - 2029 2030 > services for construction of QLE pla
Slide 30: Milestones
Milestones ASP isotopes
Slide 31: ASP Isotopes: Operation Updates
ASP Isotopes: Operation Updates Expected Q2 2026 Milestones 8 Electronic First enriched product expected to ship in Q2 Expected 2H 2026 Milestones co Targeting initial C-14 commercial shipments around mid-year, depending on arrival of feedstock from Canadian customer Yb-176 Nuclear Medicine Targetin
Slide 32: Financial Performance & Capital Position
Financial Performance & Capital Position REVENUE GROWTH TRAJECTORY ($M) BALANCE SHEET & CAPITAL Revenue Breakdown ($M) 2025 Total Revenue $23.8M $23.8M Specialized Isotopes and Services $5.7M MRadiopharmaceuticals Collaboration Construction Services (Skyline) $18.1M @SKBL Cash, Cash Equivalents and
Slide 33: Range of EBITDA by Product Categories in 2031
Range of EBITDA by Product Categories in 2031 MElectronic Gases mNaturalGas Medical Isotopes ml Radiopharmaceuticals $700 g g 8 Combined EBITDA ($M) 2 £ 8 8 $200 $100 so Low Range High Range EBITDA contribution by segment — EBITDA Target: >$300 Million in 2031 33. | @ASP Isotopes inc ASP isotopes
Slide 34: Senior Executives
“ Senior Executives PAUL MANN Chief Executive Officer and Executive Chairman ‘+ Co-founded ASP Isotopes in September 2021 ‘+ 25+ years of experience on Wall Street investing in healthcare and chemicals companies at Soros Fund Management, Highbridge Capital and Morgan Stanley ‘+ MA and M.Eng (Chemica
Slide 35: Senior Management
Senior Management DR. HENDRIK STRYDOM Chief Technology Officer DR. GERDUS KEMP 40+ years in isotope enrichment; co-developed ASP technology Former scientist at SA Atomic Energy Corp; co- founded Klydon in 1993, PhD (Physics), University of Natal; MSc, University of Port Elizabeth CEO of PET Labs. CE
Slide 36: Board of Directors
Board of Directors PAUL MANN BS "= DR.MIKEGORLEY [as RALPH L. HUNTER = sIPHO MASEKO = tative Chatman Nom & Corp Govermance Commitoe Drector * Co-founded ASP Isotopes in * Chief Technologist at UK Atomic * 30+ years in the nuclear power © Former CEO of Telkom SA; former September 2021 Ereny Aula paca