Slide 1: Lightbridge
© 0 % of 8BBEsRe @ © Lightbridge JULY 2026 | NASDAQ: LTBR
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT With the exception of historical matters, the matters discussed in this presentation and today’s oral comments, including in response to questions, are forward-looking statements. These statements are based on current expectations and involve a number of risks and uncertainties
Slide 3: Lightbridge: Pioneering Advanced Nuclear Fuel
LIGHTBRIDGE: Pioneering Advanced Nuclear Fuel We’re a leading developer of nuclear fuel technology for current and future reactors, expected to enhance the safety, economics, and proliferation resistance of nuclear fuel by operating ~1000 °C cooler than standard fuel, enabling power uprates and exte
Slide 4: Our Vision: Lightbridge Fuel as the Global Standard for Nuclear
OUR VISION: Lightbridge Fuel as the Global Standard for Nuclear Lightbridge Fuel will offer step-change improvements in safety, fuel performance, power plant economics, waste reduction, and proliferation resistance compared to the current industry standard nuclear fuel The market is lucrative & larg
Slide 5: Lightbridge Fuel Features
LIGHTBRIDGE FUEL FEATURES: Powering next-generation performance Absence of spacer grids… may reduce core pressure drop by up to 50%, which contributes to enabling power uprates and improves the natural circulation of the water coolant. Metallurgic bond… CROSS-SECTION OF between fuel components signi
Slide 6: Lightbridge Fuel: Designed for Safety
LIGHTBRIDGE FUEL: DESIGNED FOR SAFETY o Lightbridge Fuel is designed to operate nearly 1000 C cooler than conventional nuclear fuel. AVG. INTERNAL TEMP: ANTICIPATED SAFETY BENEFITS: NRC TAKES NOTICE: Metal fuel has better heat Nuclear Regulatory Commission - Wikipedia CLICK THIS LOGO transfer TO VIE
Slide 7: How We Design Safer Fuel
HOW WE DESIGN SAFER FUEL FABRICATION SHAPE The three components of Lightbridge Fuel are Helically-twisted multi-lobe fuel rod – increased coolant metallurgically bonded during the fabrication process. mixing, increased fuel surface area, and shorter distance This bonding improves the structural inte
Slide 8: Increasing Capacity Factor
INCREASING CAPACITY FACTOR CAPACITY FACTOR OVERVIEW MAJOR ENERGY SOURCE CAPACITY FACTORS Capacity factor measures how often a power plant runs for a specific period, indicating how fully a unit’s capacity is used. Solar thermal 20.5% Solar photovoltaic 24.6% The U.S. nuclear fleetwide capacity facto
Slide 9: Robust Patent Platform Protects Return On Investment
ROBUST PATENT PLATFORM PROTECTS RETURN ON INVESTMENT o Lightbridge has invented and developed its technology to meet the needs of the growing energy marketplace, backed by a powerful worldwide patent portfolio. o Expanding our patent portfolio continues to be a strategic focus for Lightbridge. o The
Slide 10: Recent Fuel Development Milestones
RECENT FUEL DEVELOPMENT MILESTONES ® 10
Slide 11: Achieving Critical Fabrication Milestone
ACHIEVING CRITICAL FABRICATION MILESTONE: From Extrusion to Co-Extrusion (March 2024 – February 2025) March 2024: February 2025: Strategic Initial Extrusion Process Demo Advanced Co-Extrusion Achieved Significance o Successfully extruded a sample of depleted uranium- o Completed co-extrusion demonst
Slide 12: Irradiation Testing Of Lightbridge Fuel Material Commenced
IRRADIATION TESTING OF LIGHTBRIDGE FUEL MATERIAL COMMENCED (November 2025) Initiated irradiation testing of enriched uranium-zirconium alloy fuel samples at INL's Advanced Test Reactor (ATR). STRATEGIC SIGNIFICANCE o Major milestone in fuel development program under CRADA with BEA o Advances pathway
Slide 13: Lightbridge & Oklo Collaboration
LIGHTBRIDGE & OKLO COLLABORATION: Fuel Fabrication and Recycling Collaboration Objectives o The partnership establishes a framework for two strategic initiatives -> Facility Co-Location Study o Conduct feasibility assessment for co-locating Lightbridge's Commercial-scale Fuel Fabrication Facility at
Slide 14: Lightbridge Added To Russell 2000 And 3000 Indexes
LIGHTBRIDGE ADDED TO RUSSELL 2000® AND RUSSELL 3000® INDEXES Effective June 30, 2025 Milestone Achievement o Added to Russell 3000® (broad-market) and Russell 2000® (small- cap) indexes o Part of 2025 annual reconstitution capturing the 4,000 largest US stocks Investor Access & Visibility $10.6T o A
Slide 15: Execution Roadmap & Risk Management
EXECUTION ROADMAP & RISK MANAGEMENT Targeting mid-2030s demonstration with potential for acceleration through strategic initiatives Development Timeline (2025–2035) 2025–2027 2027–2030 2030–2033 2033–2035 Fuel qualification plan, test ATR loop testing, analytical model LTR demonstration in commercia
Slide 16: Key Development & Commercialization Dependencies
KEY DEVELOPMENT & COMMERCIALIZATION DEPENDENCIES Funding & Strategic Support ATR Test Loop Availability Industry Partnerships Continued access to capital markets Highly competitive irradiation test Fuel vendor partnerships are needed financing, government funding, and capacity is limited; insufficie
Slide 17: Global Energy Demand Is Growing
GLOBAL ENERGY DEMAND IS GROWING ® 17
Slide 18: The Nuclear Resurgence: A Timely Imperative
THE NUCLEAR RESURGENCE: A Timely Imperative Rising Global Energy Demand The increasing global demand for energy from AI data centers U.S. ELECTRICITY DEMAND (TWH)1 and digitalization needs reliable power. Nuclear energy 5,000 provides a stable baseload supply essential for 24/7 4,807 operations in m
Slide 19: Demand Drivers: Clean Power for a Changing World
DEMAND DRIVERS: Clean Power for a Changing World AI & Data AI and cloud computing growth drives high, continuous electricity Centers Power needs. Data centers use vast energy, making reliable, emissions- Demand free nuclear power vital to cut carbon footprints. Climate Governments and corporations p
Slide 20: Supply Side: Large Reactors Leading the Way
SUPPLY SIDE: Large Reactors Leading the Way 4 Nuclear Power Reactors in Operation Proven Large nuclear reactors have a proven history of 377,147 MWe Total Net Installed Capacity Technology reliable and safe baseload power generation. Nuclear Power Reactors In Suspended with Global Multiple reactors
Slide 21: Nuclear Power: Fueling the AI and Data Center Boom
NUCLEAR POWER: Fueling the AI and Data Center Boom AI data centers are projected to demand 123 GW of power by 20351, a 30-fold increase from current levels. Data centers could consume up to 12% of U.S. electricity by 20302, highlighting the need for stable, large-scale energy sources. Massive AI gro
Slide 22: Nuclear Power: Bolstering Energy Security and Grid Resilience
NUCLEAR POWER: Bolstering Energy Security and Grid Resilience Blackouts could increase 100-fold by 20301 if reliable power sources are shuttered. Top grid risks in 20252: Cybersecurity vulnerabilities and supply chain interdependencies. Intensifying cyber threats3, including pre-positioned backdoors
Slide 23: Nuclear Electricity Generation and Performance
NUCLEAR ELECTRICITY GENERATION AND PERFORMANCE 1Record Nuclear power generated a record 2,667 TWh worldwide Global in 2024, exceeding the previous high from 2006 and Generation marking a 2.9% increase from 2023. 2High Reactor Global average capacity factor for nuclear reactors Efficiency reached 83%
Slide 24: The Future of Nuclear Power: Ambition & Reality
THE FUTURE OF NUCLEAR POWER: AMBITION & REALITY NUCLEAR POWER TODAY ENERGY DEMAND & CURRENT CAPACITY (GWe) o Total Capacity: ~400 GWe / No. of Reactors: ~420 / Avg. Reactor Size: 0.95 GWe 16,000 15,000 INDUSTRY PERSPECTIVE o COP28 Goal: Tripling of nuclear to 1,200 GWe by 2050 14,000 o Impact on com
Slide 25: The Coal to Nuclear Transition
THE COAL TO NUCLEAR TRANSITION In September 2022, the DOE published a study* that explored converting retiring coal plants into nuclear plants throughout the United States: o It is estimated that 80% of retired and operating coal power plant sites have the basic characteristics to be considered amen
Slide 26: Financial Overview
© nq FINANCIAL OVERVIEW sevaalutee:,, Lightbridge
Slide 27: Fortified Financial Positioning
FORTIFIED ASSETS 31-Mar-26 31-Dec-25 FINANCIAL POSITIONING Current Assets Cash and cash equivalents $215,671,445 $201,862,421 Prepaid expenses & other current assets 1,465,618 712,983 Total Current Assets 217,137,063 202,575,404 $216M Other Assets Prepaid project costs & other long-term assets 1,673
Slide 28: Our Team
OUR TEAM ® 28
Slide 29: Seasoned Leadership Team
SEASONED LEADERSHIP TEAM DARLA M. BOND SCOTT HOLCOMBE, Ph.D. Human Resources Manager VP, Engineering Darla brings 30+ years of HR leadership across corporate and small business Oversees R&D and demonstration efforts to commercialize proprietary nuclear sectors. Since 2011, has provided HR consulting
Slide 30: Independent Board of Directors
INDEPENDENT BOARD OF DIRECTORS SETH GRAE SHERRI GOODMAN Chairman and Chief Executive Officer Director Member of Civil Nuclear Trade Advisory Committee (CINTAC) to the U.S. Vice-Chair of the U.S. Secretary of State’s ISAB and a member of EXIM Bank's Secretary of Commerce, Nuclear Energy Institute’s B
Slide 31: Advanced Nuclear Fuel Technologies
ADVANCED NUCLEAR FUEL TECHNOLOGIES for clean power and energy security COMPANY CONTACT ir@ltbridge.com 2000-11710 Plaza America Drive Reston, VA 20190 USA ltbridge.com @lightbridgecorp Linkedin.com/company/ltbridge @lightbridgecorporation ® 31