Slide 1: Lightbridge
080 WMG SGbGeM%e wo Lightbridge
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation includes or incorporates by reference statements that constitute forward-looking ‘statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. These statements relate to futu
Slide 3: What is Lightbridge?
What is Lightbridge? Lightbridge is a leading provider of nuclear energy consulting services to commercial and governmental entities worldwide, and is developing next generation nuclear fuel technology that will significantly reduce nuclear waste and proliferation.
Slide 4: Lightbridge at a Glance
Lightbridge at a Glance LTBR McLean, VA Seth Grae 10 million $22,220, 000
Slide 5: Seth Grae, President, Chief Executive Officer
Seth Grae, President, Chief Executive Officer — Seth Grae, has led the development and implementation of Lightbridge’s business efforts to develop and deploy nuclear fuel technologies, and to provide comprehensive advisory services based on non-proliferation, safety, and transparency for emerging co
Slide 6: Corporate Leadership (2)
Corporate Leadership (2) ¢ ¢ ancial Officer - fp Served a as Vice President of Finance and ‘Chief Financial Officer of Exelon Business Services Company and Exelon Nuclear A from 2002 to 2007. At Exelon, Mr. Guerra was an integral member of the team that engineered one of the most significant turnaro
Slide 7: Strategic Advisory Council
Strategic Advisory Council eneral Lord Charles Guthrie _—- Ernest Steiner ard, QC ohn Taylo tute Lightbridge has an unrivaled depth of talent with a roster of leading experts and advisors that have served in industry and governmental positions for decades.
Slide 8: Technical Advisory Board
Technical Advisory Board Dr. Alvin Radkowshy (left), inventor of thorium fuel, receiving an award from the U.S. Atomic Energy Commission. Presented by Admiral H.G. Rickover Lightbridge’s Technical Advisory Board includes experienced industry veterans as well as a new generation of “New Build” innova
Slide 9: Investment Rationale
Investment Rationale + Lightbridge offers practical and timely solutions to the emerging nuclear proliferation discussion — Proprietary technology addresses the paramount issues afflicting the industry, specifically proliferation and waste — Proliferation-resistant fuel — Dramatically reduced nuclea
Slide 10: Lightbridge Overview
Lightbridge Overview Fuel Technology Development + Leading developer of thorium-based proliferation resistant nuclear fuel designs Addresses key nuclear concerns of proliferation, waste and supply Nuclear Generation * Industry leading team + Comprehensive advisory services for nuclear programs Nucle
Slide 11: Lightbridge Overview
Lightbridge Overview Combination of these two core businesses puts Lightbridge in a unique position to capitalize on the growing global trend of pursuing cleaner and safer forms of nuclear energy
Slide 12: Our 2009 Focus
Our 2009 Focus What we’ve said... List on a Senior Exchange Corporate Rebranding NASDAQ Listing on Oct. 9, 2009 Launch of Lightbridge Forging Partnerships Raising Visibility Growing work with Areva Proactively telling our story and getting attention
Slide 13: Nuclear is on the Rise
Nuclear is on the Rise Do you favor the use of nuclear to Should your country start using or produce electricity in the U.S.? increase the use of nuclear power? Yes [No Tl Yes, it concerns are addressed 100% 20% 20% 70% om so 408 21% 20% fig nl . ae FE EEE ES SF “i Indla China USA South Alton Wor So
Slide 14: Leveraging Global Trends
Leveraging Global Trends World Electricity Consumption Developed Nations Total World ~ Total OECD (Billion Kilowatt hours) SRRRREEE (Bilion Kilowatt hours) Developing Nations oo a. sTotalNen OECD | s: (Bilion Kilowatt hours)
Slide 15: Advisory Services
Advisory Services Nuclear Generation
Slide 16: Ernie Kennedy, Jon Johnson, Hans Blix
Ernie Kennedy - 33 year career with Westinghouse, as VP for New Plants, led the successful construction and installation of numerous nuclear power plants world-wide Jon Johnson - 38 years of nuclear operational and regulatory experience, including as the Deputy Director, Nuclear Reactor Regulation f
Slide 17: Advisory Services
Advisory Services | + Experienced team of nuclear professionals Unbiased Advice and Sinaieaic Bangin * Comprehensive design for nuclear program and related 9 9 infrastructure + Technology analysis and site-specific adaptability Program/Asssssment * Contractor, materials, and equipment evaluation Reg
Slide 18: Advisory Services
Advisory Services (1) Exclusive UAE Contract: Entered into multiple five-year agreements to provide strategic advice for planning and implementation of nuclear energy with United Arab Emirates + Providing counsel and advice on this region’s nuclear generation capabilities and build-up and regulatory
Slide 19: Fuel Market Overview
Fuel Market Overview
Slide 20: Fuel Technology Development
Slide 21: Fuel Designs
Fuel Designs « No weapons usable materials produced Prolioeutar * Reduced political risk resistance * Approx. 50% reduction of spent fuel volume * Approx. 70% less spent fuel weight * Approx. 90% reduction of long-term radio- toxicity of spent fuel Waste volume and storage time reduction * Ability t
Slide 22: Moscow Staff, Led by Dr. Alexei Morozov
Led by Dr. Alexei Morozov — Head of the Lightbridge Moscow office and nuclear scientist with more than 40 years of experience in the development of nuclear technology Three additional PhD’s — all with comparable expertise Moscow Staff Kurchatov Institute Entrance tothe inte with monument to Kurchato
Slide 23: Fuel Technology Development
Fuel Technology Development Successful completion of Lead Test Assembly Program Plan Completed conceptual PWR fuel assembly design Prepared long-term technology commercialization plan Partnerships — Signed Collaboration Framework Agreement ©6060 0 6 Legislative Initiatives Lightbridge continues to s
Slide 24: VVER Fuel Development Process
VVER Fuel Development Process Phase |: Conceptual Design + Define new product and economic feasibility | completed + Develop project plan Phase Il: Preliminary Design Preliminary design and fabrication process and validation completed + Detailed design and fabrication process and review + Regulatory
Slide 25: VVER-1000 Fuel Development Program (1)
VVER-1000 Fuel Development Program Baseline Program Schedule (1) 1 1997- | 2000- | 2003- | 2006- | 2009- 1997 | 2000 | 2003 | 2006 | 2009 | 2012 Phase | - Conceptual Design: Technical Feasibility Study / VVER-1000 Key Fuel Technologies & Reactor Design Compatibility Licensing Activities for Thorium
Slide 26: VVER-1000 Fuel Development Program (2)
VVER-1000 Fuel Development Program Baseline Program Schedule (2) 2009- | 2012- | 2015- 2012 2015 2018 Loop Irradiation of Fue! Samples in the Test Reactor Detailed Design Analysis for Fue! Assembly Detailed Design - Mockups for Out of Reactor Testing Fabrication Process Design for Lead Test Assembly
Slide 27: Addressable VVER Fuel Market
Addressable VVER Fuel Market (India Market Only) Lightbridge Lightbridge Baseline Baseline Annual Annualized Licensing Fuel Spend Revenue Forecasted Market 1 WER Share Opportunities Assumptions Existing / Under Construction 2 $80M 0% — 50% $0M -$40M $OM-$2M Reactors Planned Reactors 4 $ 160M 25% - 5
Slide 28: Global PWR Market
Global PWR Market North | | America 5 Middle act India SE Asia all ee fses {including South 8, Korea). America Jj Reactors in Ij Under construction Ij Proposed operation and planned (196 total) (191 total) (22 total) Does not include VER reactors Eastern Europe (including Russia) and Japan are not c
Slide 29: PWR Fuel Development Program (1)
PWR Fuel Development Program: Baseline Program Schedule (1) 2006-| 200% 2008 2010 Technical Feasibility Study / PWR Estimate Costs & Market Develop Project Plan e Il - Preliminary D Preliminary Design Analysis for Fuel Assembly Preliminary Fuel Fabrication Process Development Preliminary Design — Mo
Slide 30: PWR Fuel Development Program (2)
PWR Fuel Development Program: Baseline Program Schedule (2) 2009- | 2010- | 2012- | 2014- | 2016- 2010 | 2012 | 2014 | 2016 | 2018 Detailed Design Analysis for Fuel Assembly Loop Irradiation of Fuel Samples in the Test Reactor Detailed Design — Mockups for Out of Reactor Testing Fabrication Process
Slide 31: Addressable PWR Fuel Market
Addressable PWR Fuel Market Total Lightbridge Lightbridge Forecasted Annualized | Market Baseline Baseline Annual PWR Total # | Fuel Market | Share Annualized Licensing Opportunities | of Units| Value* [Assumptions] Fuel Spend Revenue** Existing / Under P}) Construction Reactors 195 $7.8B 5% —10% |
Slide 32: Partnerships
Partnerships 1. Background IP - Each party owns its existing IP AX 2. Reserved Foreground IP - Owned by the party under which such future IP is AREVA reserved as specified in the approved project plan 3. Fully Owned Foreground IP — All future IP that was generated as a result of one party's solely c
Slide 33: Partnerships
artnerships + Consulting Agreement signed on August 3, 2009 + Initial term of 5 years; could be extended upon mutual written consent AX + Agreement covers initial two phases of consulting work + Includes a preliminary neutronic study of evolutionary thorium fuel concepts (i.e., fuel designs similar
Slide 34: Legislation Initiatives
Legislation Initiatives Reid-Hatch Thorium Energy Independence and Security Act of 2008 + Benefits of the Bill — U.S. government support of thorium- based nuclear fuel development ~ Provides for necessary research and licensing funding —_ Increases international cooperation Global government policie
Slide 35: Financial Overview
Financial Overview
Slide 36: Financial Results — Income Statement
Financial Results — Income Statement $6,375 $22,220 s Provided 3,637 11,089 2,737 11,131 5,618 14,174 (2,881) (3,042) (2,869) (2,859) $(0.01) $(0.01) 301,755 300,071
Slide 37: Financial Results — Balance Sheet
Financial Results — Balance Sheet Clean capital structure with no debt Shae htbridge
Slide 38: Investment Rationale
Investment Rationale + Lightbridge offers practical and timely solutions to the emerging nuclear proliferation discussion — Proprietary technology addresses the paramount issues afflicting the industry, specifically proliferation and waste — Proliferation-resistant fuel — Dramatically reduced nuclea
Slide 39: Thank You
Thank You