Slide 1: Advanced nuclear fuel designs
® Advanced nuclear fuel designs Improving reactor safety and economics to meet energy and climate needs NASDAQ : LTBR
Slide 2: Safe Harbor Statement
Safe Harbor Statement With the exception of historical matters, the matters discussed in this presentation are forward- looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's competitive position, the timing of demo
Slide 3: Investment Summary
Investment Summary Developed and commercializing next generation nuclear fuel technology to meet energy and climate needs. o Introduced new fuel design in 2010 with over $24M investment to date o Patented and independently validated metallic nuclear fuel o Completed initial manufacturing and succe
Slide 4: At Lightbridge we are developing a way to impact the world's climate and energy
At Lightbridge we are developing a way to impact the world's climate and energy problems soon enough to make a difference. 4
Slide 5: Lightbridge fuel works in existing and new reactors
Lightbridge fuel works in existing and new reactors improving their economics by: • increasing power output • enabling longer fuel cycles • earning carbon credits Lightbridge fuel adds non-emitting baseload electricity with dramatically improved reactor safety. 5
Slide 6: The only way to meet the world's energy needs and climate goals
The only way to meet the world’s energy needs and climate goals is to increase the use of nuclear energy. For nuclear energy to grow significantly, we must make it more economical while enhancing safety. US Emission Reduction Targets 100% -17% -26% -28% -80% 2005 2020 2025 2050 6
Slide 7: The World's Energy Needs Are Rising
The World’s Energy Needs Are Rising World Population Energy Consumption 10 1000 8 800 Billions People Quadrilion BTU 6 600 4 400 2 200 0 0 1950 1960 2000 2040 2050 2012 2040 Annual energy consumption is By 2050, global consumption equivalent to burning projected to equal 3.7 cubic miles of oil. 7 -
Slide 8: Energy Equivalent of 1 Cubic Mile of Oil
Energy Equivalent of 1 Cubic Mile of Oil1 • Solar Roofs: 4.2 billion 250,000 roofs per day for 50 years 2.1 kW with 20% availability • Solar CSP: 7,700 solar parks 3 per week for 50 years 900 MW with 25% availability • Windmills: 3 million 1200 per week for 50 years 1.65 MW with 35% avai
Slide 9: The Human Cost of Energy Use
The Human Cost of Energy Use ̶ 3 million premature deaths linked to outdoor air pollution. 92% 6.5 million deaths per year ̶ 3.5 million premature deaths linked to indoor air pollution due % people in the world who caused by air breath unhealthy air1 pollution to use of biomass for cooking and heati
Slide 10: Negative Health Impacts of Energy Sources
Negative Health Impacts of Energy Sources Deaths per trillion kilowatt-hours 100,000 80,000 60,000 40,000 20,000 0 Natural Solar Coal Oil Biomass Wind Hydro Nuclear Gas (rooftop) Global 100000 36000 4000 24000 440 150 1400 90 U.S. 10000 0.01 0.01 Nuclear energy has lowest mortality rate of all energ
Slide 11: Holding Back Nuclear Energy's Potential
Holding Back Nuclear Energy’s Potential Utility Decision 1. Cost competitiveness 2. Perceived risk of an accident and radiological Lack of release public support 3. Public concern about spent fuel storage 11
Slide 12: Making a Difference for Nuclear Energy in the Near-Term
Making a Difference for Nuclear Energy in the Near-Term Utility Decision 1. Cost competitiveness Lightbridge metallic fuel provides the lowest levelized cost for adding power to the grid. 2. Perceived risk of an accident and radiological Lack of release public Nuclear power is the safest form of ele
Slide 13: US Nuclear Energy R&D Programs
US Nuclear Energy R&D Programs We need to operate existing reactors and New types of reactors will not be build and build new ones based on commercialized soon enough at current designs, but their economics and large enough scale to achieve safety must be improved. climate change goals. Lightbridge
Slide 14: Advancing Towards Commercialization
Advancing Towards Commercialization Near-Term Value Drivers Norway Sweden Fuel Design & Fabrication Irradiation Testing Post-irradiation examination Technology Intellectual Property Partial-length fuel fabrication Nuclear Utility Fuel Advisory Board Data Collection and Review Data Review and Regulat
Slide 15: Safety by design
Safety by design 15
Slide 16: How We Designed Safer Fuel
How We Designed Safer Fuel Fabrication The three components of Lightbridge fuel (Cladding, Fuel Core, and Displacer) are metallurgically bonded during the fabrication process. This bonding improves fuel rod integrity and thermal conductivity and eliminates a source of fission product release in the
Slide 17: Lightbridge Innovation: Designed for Safety
Lightbridge Innovation: Designed for Safety 1250 °C Conventional The temperature down the center of Fuel Lightbridge fuel is over 1000 °C cooler than the center of standard nuclear fuel; and with ~35% more fuel surface area, there is significantly more margin to fuel failure. 360 °C Lightbridge Fuel
Slide 18: What Happens in a Loss of Coolant Accident
What Happens in a Loss of Coolant Accident1 The graphs show the peak cladding temperature (PCT) at several points along the length of the fuel during the accident for both conventional uranium dioxide fuel and Lightbridge-designed metallic fuel operating at ~30% higher power density. VVER-1000 UO2 f
Slide 19: How to Produce More Power at Lower Temperatures?
How to Produce More Power at Lower Temperatures? The answer is simple: 𝑄 = 𝑚[ℎ ሶ 𝑇𝑜𝑢𝑡 − ℎ 𝑇𝑖𝑛 ] Each Lightbridge self-spacing fuel rod contacts its neighbor rods every ~10 cm along the length of the fuel assembly. • Removing flow-restricting spacer grids allows the reactor coolant pumps to…
Slide 20: Generating Sources: How Cost and CO2 Emissions Compare
Generating Sources: How Cost and CO2 Emissions Compare 150 Nuclear effectively competes with fossil fuels despite Solar PV historic low oil and gas prices – without the price volatility or environmental impact of greenhouse gases. 100 Nuclear Coal LCOE in USA, 2020 Wind Natural Gas ($/MWh) 50 Lightb
Slide 21: Key Lightbridge Advantages
Key Lightbridge Advantages By listening to the Nuclear 10% power uprate and Utility Fuel Advisory Board increase time between refueling outages (NUFAB) and other utilities, by six months from 18 to 24 months for existing pressurized water reactors. we designed new fuel compatible with existing and n
Slide 22: $60 Million Annual Gross Revenue Per Customer Expected
$60 Million Annual Gross Revenue Per Customer Expected $48M 10% uprate $8M 24 month cycle *Assumes wholesale power price of $55/MWh; $4M $60 million does not include the added economic benefit Fewer outages of carbon credits 22
Slide 23: Nuclear Energy Plays Key Role in US Clean Power Plan
Nuclear Energy Plays Key Role in US Clean Power Plan “The [US Environmental Protection Agency] EPA expects nuclear power to be a key partner in achieving the goals of the CPP. States can use new nuclear generation to help meet their Clean Power Plan goals. This includes new nuclear reactors that com
Slide 24: Lightbridge Fuel Can Bring High Returns
Lightbridge Fuel Can Bring High Returns US nuclear plant operators could expect internal rate of return (IRR) using Lightbridge fuel, after incremental nuclear fuel cost and Lightbridge royalties: Wholesale Total incremental Incremental Net real IRR electricity price investment1 gross margin $45/MWh
Slide 25: Initial Target Market: Large US Reactors
Initial Target Market: Large US Reactors We are targeting US pressurized ADDITIONAL OPPORTUNITY water reactors of >900 MWe with >20 years licensed life at 2025. INITIAL TARGET 292 We are initially focusing on deploying our fuel in large US reactors and 283 gaining NRC approvals. NRC licensing will f
Slide 26: Annual Revenue Projections from Royalties
Annual Revenue Projections from Royalties $140M $104M 8% $71M Royalty Fee of Incremental Gross Revenue to Utility 10% 15% 20% Captured Share of Projected US Market Notes: 1. Includes 10% fuel upgrade orders 2. Annual royalty revenue includes an escalation factor of 3% per year to 2030 3. Wholesale e
Slide 27: Some of America's Biggest Utilities Are Advising Us
Some of America’s Biggest Utilities Are Advising Us Lightbridge’s Nuclear Utility Fuel Advisory Board (NUFAB), formed in 2011, comprises senior fuel managers from electric utilities that account for 50% of installed US nuclear capacity. NUFAB members represent the "voice of the customer" in Lightbri
Slide 28: Respected Organizations Have Independently Validated Our Technology
Respected Organizations Have Independently Validated Our Technology Siemens Global Study Validates Economic Benefits of Lightbridge Metallic Fuel Siemens Study Validates Non-Proliferation Benefits of Lightbridge Fuel American Nuclear Society’s Nuclear Technology Peer-Reviewed Article These studies c
Slide 29: Initial Fuel Testing Complete; Commercial Testing Planned
Initial Fuel Testing Complete; Commercial Testing Planned Lightbridge completed initial manufacturing and testing of metallic fuel in Russia, leading to planned testing under commercial reactor conditions in Norway The Lightbridge Quality Assurance Program meets the requirements of 10 CFR Part 50 Ap
Slide 30: Manufacturing Lightbridge Fuel
Manufacturing Lightbridge Fuel Fuel manufacturers are attracted to Lightbridge fuel as it is a non-disruptor, working within the existing industry and regulatory framework. Lightbridge intends to enter into commercial arrangements with multiple fuel fabricating companies with limited exclusivity. Wo
Slide 31: Key Milestones - Completed
Key Milestones - Completed Significant progress with modest investment since announcing in 2010 the concept of a metallic fuel for power uprates and safety enhancements: Initial design and testing of metallic fuel. Manufacture and test prototypes in Russia. Independent validation. Main US pa
Slide 32: Near-Term Milestones
Near-Term Milestones Select entity to fabricate fuel samples for testing in the research reactor at Halden, Norway. Enter into a letter of intent for lead test assemblies with a US electric utility, followed by a lead test assembly contract. Formalize the joint venture agreement with AREVA NP.
Slide 33: Nuclear Consulting Services
Nuclear Consulting Services About 50% of R&D funded internally from $55M of revenues to-date from consulting services Creating industry relationships and strong credibility through successful projects around the world IAC, Mitsubishi Nuclear Energy Systems, Toshiba Korea Hydro & Nuclear Power Kuwait
Slide 34: Corporate Governance
Corporate Governance Board of Directors Victor Alessi • Former Director (head) of the U.S. Department of Energy’s Office of Arms Control and Nonproliferation • Ph.D. in Nuclear Physics Seth Grae • President and CEO of Lightbridge Corporation • Member of the Civil Nuclear Trade Advisory Committee to
Slide 35: Corporate Governance
Corporate Governance Management Management’s previous Seth Grae President and CEO experience Linda Zwobota Chief Financial Officer • Nuclear fuel procurement • Nuclear fuel cycle James Malone Chief Nuclear Fuel Development Officer management Andrey Mushakov Executive VP, International Nuclear Operat
Slide 36: Corporate Governance
Corporate Governance Senior Advisors Hans Blix • Former Director General (head) of the International Atomic Energy Agency • Former Chief Weapons Inspector and Executive Chair of the U.N. Monitoring, Verification, and Inspection Commission (that did not find weapons of mass destruction in Iraq) Alexe
Slide 37: Data Sources
Data Sources Slide 7, Increasing world energy needs http://www.census.gov/population/international/data/idb/worldpopgraph.php http://www.eia.gov/forecasts/ieo/pdf/0484(2016).pdf http://cmo-ripu.blogspot.com/2016/03/update-january-2016.html Slide 8, Energy equivalent of one cubic mile of oil http://c
Slide 38: Lightbridge Corporation
® Lightbridge Corporation 11710 Plaza America Drive Suite 2000 Reston, Virginia 20190 USA +1-571-730-1200 www.Ltbridge.com Twitter: @LightbridgeCorp Investor Relations: +1-855-379-9900 ir@Ltbridge.com NASDAQ : LTBR