Terrestrial Energy Inc. · NASDAQ:IMSR
Terrestrial Energy — Investor Presentation (April 2026)
32 slides from Terrestrial Energy's investor presentation, April 2026
Slide 1: Delivering carbon-free thermal and electrical energy
Delivering carbon-free thermal and electrical energy APRIL 2026
Slide 2: Disclaimer
Disclaimer This presentation (this “Presentation”) has been prepared by Terrestrial Energy Inc. (the “Company”) solely for informational purposes. This Presentation is intended to provide a general overview of the Company and its business. This Presentation should not be construed as a prospectus or
Slide 3: Investment Summary
Investment Summary Terrestrial Energy is a developer of small modular nuclear power plants using proprietary Integral Molten Salt Reactor (IMSR) technology, a Generation IV reactor technology. The IMSR delivers best-in-class capital efficiency and low-cost nuclear energy supply. Its pragmatic use of
Slide 4: Terrestrial Energy at-a-Glance
Terrestrial Energy $1.4 T at-a-Glance Current SAM 1 Directly addresses a $1.4 trillion SAM for industrial process heat and electricity in OECD markets and is expected to grow 35% to $1.9 T by 20501 65 years National laboratory proven and demonstrated technology Developer of the small and modular Int
Slide 5: IMSR Plant is Designed to Deliver Co-located, Customized Energy Solutions to Industry
End-user heat / power (industry / grid electric power) IMSR Plant is Designed C to Deliver Co-located, Customized Energy IMSR Non-nuclear Thermal and Electric Facility (TEF) B Solutions to Industry A Separation of nuclear from thermal and Dual IMSR Nuclear Facility electrical systems allows: • Stand
Slide 6: IMSR Plant Addresses the Weaknesses and Limitations of Legacy Nuclear Technology
Terrestrial Energy’s IMSR Plant Addresses the Weaknesses and Legacy Nuclear Technology Limitations of Legacy Terrestrial Energy IMSR Gen IV Advanced Modular Reactor LWR Gen II, III and III+ (including SMRs) Nuclear Technology While High capital efficiency due to: Low capital efficiency due to: Deliv
Slide 7: IMSR Uses Readily-Available and Inexpensive SALEU in its Fuel
IMSR Uses Readily-Available and Inexpensive Standard-Assay Low-Enriched Uranium (SALEU) in its Fuel Standard-Assay Low-Enriched Uranium High-Assay Low-Enriched Uranium SALEU HALEU (15-20) Uranium-235 <5% U-235 15-20% U-235 enrichment level $2,700 / kgU1 Cost $32,600 / kgU1 Terrestrial Energy IMSR (G
Slide 8: IMSR Plant at-a-Glance: High-temperature, Low-pressure Operation
IMSR Plant at-a-Glance: High-temperature, Low-pressure Operation with High Inherent Safety Delivers Superior Capital Efficiency Over Legacy Nuclear and other Gen IV Technologies 585 °C 44% vs 30% $8.6 $69 IMSR heat supply is best-in-class, vs Electricity is generated up to ~50% Exceptional levelized
Slide 9: Contracts Entered with Leading Group of Suppliers for Services and Components
Contracts Entered with Leading Group of Suppliers Plant & Infrastructure for Services and Components * Nuclear fuel * Blue-chip service and major component suppliers support deployment readiness R&D Awards to top-tier suppliers of engineering and operations services inspire nuclear market confidence
Slide 10: Terrestrial Energy is Scaling Up its IMSR Plant Project Pipeline
Terrestrial Energy is Scaling Up its IMSR Plant Project Pipeline Industrials Capital Utilities Data goods Market demand and policy Ammonia and centers Mining hydrogen developments are driving deployment in major markets H2 50+ 10+ Projects 15+ Portfolio of 50+ consortium relationships with the • Off
Slide 11: Low-Capex Business Model Taps Four Revenue Streams
Cumulative Total Gross margin Segment Description revenue $M % % Site selection, site and use-specific Pre-construction services engineering studies for construction and licensing planning preparation $75 4% 31% Terrestrial Energy’s Supply of services and components Construction services & component
Slide 12: Demand tailwinds for clean, firm power
Compelling demand tailwinds for clean, firm power for grid robustness, national and energy security requirements, and from AI datacenter construction growth Innovative, proven IMSR technology with transformative potential for nuclear energy supply Strategic market opportunity with early mover advant
Slide 13: Appendix
APPENDIX Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 13
Slide 14: IMSR Plant Innovation Reaches New Markets and Sectors
IMSR Plant Innovation Reaches New Markets and Sectors The IMSR Plant has the operational Industrial heat and power 1 Today, thermal energy (heat) for industrial processes is produced almost entirely from combustion of oil, capability to supply three key, large market coal, and natural gas – forming
Slide 15: IMSR Plant Serves Two Vast and Linked Markets
OECD OECD IMSR Plant Serves Two industrial heat market electricity market Vast and Linked Markets: ($800 B) ($600 B) Industrial Process Heat Industrials require clean firm low-cost thermal energy at high-temperatures for manufacturing processes. This is beyond the ($0.8 T) and capabilities of legacy
Slide 16: Technology and Design Choices Drive Large Economic Advantages
IMSR Plant’s Technology and M O LT E N S A LT C O O L A N T Design Choices Drive Superior reactor coolant • High thermal stability Large Economic Advantages • High radiation stability • High heat capacity High thermal stability of molten salt enables safe high- temperature and low-pressure operation
Slide 17: Patented Replaceable IMSR Core-unit
Innovative and Patented Replaceable IMSR “Core-unit” Solves the Key Industrial Maintenance Challenge for the MSR, Releasing the technology’s commercial potential Cut-away reactor building, one of two 01 IMSR Core-unit cut-away (illustrative) 02 in the IMSR Plant (illustrative) All primary reactor co
Slide 18: IMSR is Built on 65 Years of National Lab Proven MSR Technology
IMSR is Built on 65 Years IMSR is a molten salt of National Lab Proven and Demonstrated MSR Technology reactor that uses: Fluoride salt chemistry 1958-1969 2010 Molten Salt Reactor (MSR) research • ORNL pre-conceptual design for SALEU-fueled once- program started in the 1950s1, 2 Small Modular Advan
Slide 19: Compared to Legacy Nuclear Technology, IMSR Offers Transformative Advantages
Compared to Legacy IMSR Plant Legacy Nuclear Plant Nuclear Technology, IMSR Coolant Molten Salt Water Offers Transformative Temperature of 585°C ~270°C Thermal Supply Net Thermal Efficiency Advantages on a Range of 44% ~30% of Electricity Generation Pressure Low: 1 bar (atmospheric) High: 55-150 bar
Slide 20: At Fleet Scales, IMSR Plant Offers Clean Firm Efficient Electricity
At Fleet Scales, IMSR Plant Offers Clean Firm Efficient Electricity Generation at the Cost and Scale Required 1 Unsubsidized high and low levelized cost of electricity (LCOE) across multiple power generation sources ($ / MWhe) Dispatchable Baseload Non-Baseload Dispatchable Non-Dispatchable $142 – $
Slide 21: IMSR Technology Fundamentals Drive Down the LCOE
IMSR Technology Fundamentals Drive Down the LCOE – Illustrative Inherent safety uses the natural Low pressure systems are more properties of the system itself and not complex robust and less complex than active mechanisms using control rods, pumps, high-pressure systems valves, and actuators $142 –
Slide 22: IMSR Plants can Uniquely Retrofit Existing Coal Plants
IMSR Plants can Uniquely “Retrofit” Existing Coal Plants for Carbon-free and Air Pollution-free Electricity Generation Nuclear in general and IMSR Retrofitting coal-to-nuclear results 1,2 Coal is dirty yet essential in particular are an ideal in significant primary and “hand-in-glove” solution3 seco
Slide 23: Milestone Progress
Milestone Progress Systematic development program for IMSR Plant with a 10-year track record of milestones achieved Initiated regulatory IMSR Plant selected by BWXT, Siemens, Orano, Entered an MOU with Zachry • Construction of first commercial engagement with the USNRC and CNSC for Aecon, Ca
Slide 24: A Market Leader in Regulatory Engagement for Gen IV Reactors
Terrestrial Energy — ACTIVE ENGAGEMENT – UNITED STATES A Market Leader in • U.S. NRC engagement since 2017, with technical reviews, White Papers, and Topical Reports Regulatory Engagement for • • First Gen IV reactor chosen for joint U.S. NRC/CNSC review (2021) U.S. NRC issued its Safety Evaluation
Slide 25: IMSR has the Potential to Transform Nuclear Energy Supply
IMSR has the Potential to Transform Nuclear Energy Supply Generation I Generation II Generation III Generation III+ Generation IV Gen III with evolutionary Next-gen advanced Prototype reactors Large commercial reactors Evolutionary commercial reactors modular reactors (AMRs) improvements (inc. SMRs)
Slide 26: Business Model
Business Model Revenues start well before construction at site development project stage and last for the entire operation of the plant Terrestrial Energy’s Full project lifecycle business is to: Site and Project Development IMSR Plant Operations Supply engineering services for Development Scope and
Slide 27: IMSR Captures Inherent Nuclear Safety, Unlike Legacy Nuclear Technologies
IMSR Captures Control Inherent Nuclear IMSR fission heat generation is inherently load-following. Fission power immediately drops to zero when heat demand ceases without operator Safety, Unlike Legacy intervention Nuclear Technologies IMSR Plant technology and design Cool incorporates inherent nucle
Slide 28: Illustrative IMSR Plant Unit Economics (USD M)
Illustrative IMSR Plant Unit Economics (USD M) ($ in M USD) Construction and Commissioning to T=0 Operating life Total plant life Revenue breakdown by phase <T-4 T-4 T-3 T-2 T-1 56 years 60+ years Revenues $774 $1,324 $2,098 Preconstruction services 75 - - - - - 75 $69 Construction services and comp
Slide 29: Terrestrial Energy Leadership
A proven leadership team Terrestrial Energy Leadership A leadership team with extensive experience across scientific, commercial, and policy realms Simon Irish David LeBlanc, PhD William Smith, P. Eng. CEO, Director CTO, Director COO • Extensive investment banking • Globally recognized expert • Over
Slide 30: Terrestrial Energy Leadership
A proven leadership team Terrestrial Energy Leadership A leadership team with extensive experience across scientific, commercial, and policy realms Iftikhar Haque David O’Keefe Dara Harrison VP Nuclear Supply Chain VP Business Development & Project Management VP Human Resources • Over 35 years of su
Slide 31: Glossary
Glossary Term Definition Base load The minimum amount of electric power delivered or required over a given time period at a steady rate. Core-unit The term to denote the vessel that contains the primary components of the IMSR, the reactor core, heat exchangers, pumps, etc. DOE and LPO The United Sta
Slide 32: Making transformative nuclear energy a commercial reality
Making transformative nuclear energy a commercial reality Join us. www.terrestrialenergy.com Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 32
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