Deep Fission, Inc. · NASDAQ:FISN
Deep Fission — Investor Presentation (November 2025)
21 slides from Deep Fission's investor presentation, Nov 7, 2025
Slide 1: Powering Humanity from a Mile Underground
P o w er in g H u ma ni t y f r om a M il e U n de r g r o u n d DeepFissi o n . c om T he F as t est P ath t o S c a l e Nu c l e ar P ow er N o v em b e r 5, 2 0 25
Slide 2: Legal Disclaimer — Forward-Looking Statements
L e g a l Di s c l a i m er — F or w a r d - L oo ki n g S ta t e m e nts This p r esentation contains f or w a r d - looking statements within the meaning of the U.S. f ederal securities l a ws, including, among o ther things, statements r ega r ding Deep Fission, In c .’s d e v elopment plans, ant
Slide 3: Core Idea and Origin Story
Co r e Idea and Origin Story The Economist Pil o t Rea c tor D e v elopment F o x Business N e t w ork CEO O v ervi e w EnerCom De n v er Con f e r ence 3 Initial Planned Sites W orld Nuclear N e ws 12.5 G W in Pipeline Bloombe rg $30M Financing, Go - Public T ransa c tion Bloombe r g | P ow er T ec
Slide 4: Integrating three proven advancements
4 I n t e g r at i n g th r ee p r o v e n ad v a n c e m e nts. G e o t her m a l Me tho do l o gy D e e p B o r eho l e D r i l l i ng + + H y d r ostatic p r essu r e f r om one - mile - deep column of w ater p ro vides 160 atm of i n vulnerable p r essu r e sa f e t y , naturall y . PWR uses r e
Slide 5: Regulatory Advantage: DOE Nuclear Reactor Pilot Program
5 Re g u l a t o r y A d v anta g e: D e e p Fi ss i on se l e c t ed as o n e of 10 c o mp an i es f or the U . S . D e part m e nt of E n e r gy Nu c l e ar R e a c t or P il ot P r o g r a m — A fast - t ra c k in i t i ati v e t o d es ign, b u ild , a nd op e r ate ad v a n ced t est r ea c tor
Slide 6: Management Team
6 Mark P érè s VP E n gi n eeri n g 40+ y ears in Nuclear Engineering M ich ae l B r a s e l COO 30 y ears ac r oss nuclear, f ossil, r en ew able ene r gy A ny a Scud er i Strat e gi c Finan ce 10 y ears e xperience in ene r gy capital mar k e ts Ra ni F r a n o v ich VP R eg ulato ry Aff a irs 30
Slide 7: Expert Advisory Board
Exp ert A d vi so r y B oa rd S t ev e K oo nin Sp e cial G ov e rnm e nt E m p l o y e e , DOE F ormer Chief Scientists at BP and F ormer Undersec r e tary of Ene r gy P atr i ck Hus t o n Brig. Ge n . (R e t .) FBI Scienti f ic W orking G r oup on AI S t ev e Chu N o be l L au r e at e F ormer Sec
Slide 8: Demand is quickly surpassing supply
Demand is quickly surpassing supply due to the su r ge in capital e xpenditu r e f r om AI - dri v en data centers and hyperscalers. W e a r e at a point whe r e shortfalls in ene r gy supply a r e becoming critical. F ast depl o yments of nuclear p ow er with Deep Fission technology m a y p ro vide
Slide 9: Traditional reactors: credibility, cost and complexity are barriers
T raditional/Surface L ev el Rea c tors C r ed ibili t y , c o st & c o mpl e xi t y a r e b arr i e r s — W e a r e in a r a c e agains t t i m e. C r edibl e , sa f e solutions ta k e decades to build, m a ximize pushback, and often amplify costs to the point of cancellation. N e xt - Gen SMRs Sma
Slide 10: Competitive Landscape: At-A-Glance (1 GW)
C o mp et i t i v e L a n ds c a p e: A t - A - Gl a n c e (1 G W) 10 6 - 10 y ears 3 - 4 y ears ~6 months $15B+ (1 G W) $8 - 9B (1 G W) $2.5 - 3B (1 G W) LEU ( r eadily a v ailable) HALEU (ha r d to sou r ce) LEU Long, compl e x Medium (still n e w tech) DOE fast - track friendly La r g e , one - o
Slide 11: Deep Fission's Borehole Reactor Design
11 Standa r d Fuel Assemblies with r eadily a v ailable LEU fuel, e xploring 2x2 and 3x3 con f igurations D e e p PWR D e e p Geo V a ult Steam Generator l ev eraging co nv entional ge o thermal technology D e e p Ge ot h er m al Standa r d Bo r ehole drilled utilizing r eadily a v ailable technolog
Slide 12: Compelling economics across the board
N e w P r ess u ri z e d W at er R e a c to rs a r e still n o t cost - ef f e c ti ve Deep F issi on compelling economics ac r oss the boa rd Rea c tor P r essu r e V esse l $$$$ $ $ Eme r gen c y Co r e Cooling System s $$ $ $ Rea c tor Containment Buildin g $$$$ $ $ Nuclear Constru c tion and Qua
Slide 13: Not just viable — profitable from day one
Not j ust vi a bl e — P r o f i ta bl e f r o m d a y o n e. Sou r ce: US Ene r gy Information Administration (2023); Laza r d ’ s LCOE Report (2024); DOE Pathways to Comme r cial Lifto f f: Advanced Nuclear Including ene r g y , capacit y , and envi r onmental attributes Deep Fission Expected Contr
Slide 14: Deployment Speed
T raditional Rea c tor pace F r om b r eaking g r ound to compl e tion in 6 - 10 y ears SMR pace F r om b r eaking g r ound to compl e tion in 3 - 4 y ears Deep Fission Speed Fully - built in 6 months Drilling 3 - 4 w eeks Installation 8 - 10 w eeks D e pl o y m e nt Sp eed: E st im a t e d 6 - m on
Slide 15: Regulatory Speed — Tailwinds from Executive Orders
Re g u l a t o r y Sp eed — 8 T a ilwi n ds f r o m E x e c ut i v e O r de rs 1 Speed up Rea c tor Li c ensin g C r e a te s e xp e d i t e d pa th w a y to a pp ro v e r ea c to r s te ste d b y DoD an d DO E. Es t abl is he s NRC d ead l i n e to lic e nse w i t h i n 1 8 m o n th s. Deep Fission
Slide 16: Commercial Speed — Rapid Scale from First Reactor
100 C o m m e r c i a l Sp eed — re ac t o rs Ra pi d S c a l e f r o m Fi r st R e a c t or t o Fi r st F o c us : D ata C e n t e r s 1 . 5 G W e Up t o 100 B o r e h ole s o n T h r ee Ac r es 10 re ac t o rs 16 150M W e Bu ild 9 Additio n al Un its S ecu r e d site - host a nd o f f - ta k e L O
Slide 17: Landmark Partnership with Endeavour
Deep Fission is partne r ed with Ende a v our, a sustainable data center + infrastru c tu r e compa n y , to co - d ev elop 2 G W of nuclear ene r g y , supporting sales to major cloud p ro viders. This partnership c r eates a di r e c t comme r cial path w a y f or Deep Fission r ea c tors in one o
Slide 18: Accelerated Innovation — A New Class of Infrastructure
A cc e l e r a t e d I n n o v at i on — D e e p Fi ss i on i s a n e w c lass of inf r astructu r e . Deep Geologic L ev erage DBR Canister Design Deep Casing & Containment Rapid Install, O&M Deep Sa f e ty & Security • Shielding • Containment • Security • P r essurization • Rock moderation • Choic
Slide 19: Novel Deep Borehole Reactor and project financing
P r o pr i et a r y an d C on f i d e nt i al | | 19 N ov e l D e e p B o r ehol e R e a c tor i n t e gra te s n uc le a r e n e r g y with p r o v e n o i l a nd gas te c h n ologi es , enabl i ng r a pid, r e pea t a b l e , h i gh - v ol u m e dep l o y me n t . This s t rate g y s i m p li f i
Slide 20: Summary Investment Thesis
S cala b le B r oad - range mar k e t serviceability f r om 15 M W e to 1.5 G We. R e ad ine ss DOE pil o t p r ogram sele c tion o b tained. Pil o t facility b y July 2026. L OIs f r om f our p r ospe c ti v e sites. A f f o r da b le T a r g e t $50 - 70 per MWh f or continuous suppl y. S p eed Es
Slide 21: Powering Humanity from a Mile Underground
P o w e r i n g H u m a n i t y f r o m a M i l e U n de r g r ou n d F o r i n v es to r inquiries, c o n t a c t : Bob Prag IR@deep f ission . com (858) 794 - 9500 F o r media inquiries, c o n t a c t : Chloe Frader VP Strategic Affairs chlo e .frader@deep f ission . com T he F as t est P ath t o