Lightbridge Corporation · NASDAQ:LTBR
Lightbridge — Thorium Power — Shareholder Meeting (June 2009)
43 slides from Lightbridge's shareholder meeting presentation, Jun 29, 2009
Slide 1: Annual Shareholders' Meeting
Thorium Power, Ltd. Annual Shareholders’ Meeting June 29, 2009 me me hire 5) ». | seem” 7) {] S/F AVocoo) Seth Grae - President, Chief Executive Officer
Slide 2: Safe Harbor Statement
Safe Harbor Statemen This presentation may include certain statements that are not descriptions of historical facts, but are forward-looking statements. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans a
Slide 3: Agenda
Seth Grae - President, Chief Executive Officer + Leveraging Global Trends and Nuclear is on the Rise * Thorium an Untapped Source of Energy * Thorium Power, Ltd. Overview + Company History * Thorium Power Today + Vision, Mission and Values * Corporate Strategy + Operating/Corporate Highlights + Fuel
Slide 4: Leveraging Global Trends
Leveraging Global Trends World Energy Consumption Developed Nations Total World Total OECD (Billion Kilowatt hours) mite 2000 | =Total Werld (Billion Kilowatt hours) & & Developing Nations oBSESE88 1880 2005 2008 2019 2015 2020 2025 2030 ‘=Total Non OECD (Bilion Kilowatt hours) PPSS EEE ‘Souroes: En
Slide 5: Nuclear is on the Rise
lear is on the Rise Do you favor the use of nuclear to produce electricity in the U.S.? Hl Total % Favor Hl % Strongly Favor 57% 56% 56% © 8 58% 45% 27% = 19% en -@ 21% 20% a~-ee 1% weneesesraeze ene 2€B88 88888 22828 SSSSPFRRRRRRARRRA ‘Source: Gallop Poll, conducted March 2009 Support for nuclear e
Slide 6: Thorium an Untapped Source of Energy
Thorium tapped Source of Energy + Naturally-occurring, slightly radioactive metal found in the earth’s crust. + Estimated to be 3X more abundant than all forms of Uranium combined. + Large deposits in the U.S., India, Australia, Norway and many other countries. + All mined thorium is potentially usa
Slide 7: Thorium Power, Ltd. Overview
Thorium Power, Ltd. Overview Fuel Technology Development Advisory Service — Nuclear Generation + Leading developer of Thorium-based proliferation resistant nuclear fuel designs + Industry leading team + Comprehensive advisory services for nuclear programs + Addresses key nuclear concerns of prolifer
Slide 8: Company History Includes Pioneers of Nuclear Industry
Company History Includes Pioneers of Nuclear Industry Dr. Alvin Radkowsky: Inventor of Thorium Power's original fuel design + First Chief Scientist U.S. Naval Nuclear Propulsion Program + Team leader of first commercial nuclear power plant in the U.S. + Instrumental in creation of civilian nuclear e
Slide 9: Thorium Power, Today
Thorium Power, Today , “” { Fuel Technology Development + Led by Dr. Alexei Morozov — Head of Thorium Power 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 Kurchatov Institute
Slide 10: Thorium Power, Today
Thorium Power, Today Fuel Technology Development Key Russian entities currently involved in the project are listed below Russian Entity Function/Area of Expertise Thorium Power — Moscow Project leader; coordinates all technical activities in Russia SOSNY R&D Co. Project integration Kurchatov Institu
Slide 11: Thorium Power, Today
Thorium Power, Today { Advisory Services - Nuclear Generation & Regulation \ + Ernie Kennedy, in 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, who has 38 years of nuclear operationa
Slide 12: Vision and Mission
Thorium Power Vision * Thorium Power, Ltd. will be a global leader in the deployment of safe, transparent and commercially viable non-proliferative civil nuclear generation programs. ission Thorium Power To achieve our vision: + We will become a world leader in the commercialization of non-prolifera
Slide 13: Corporate Strategy
Corporate Strate: Fuel Technology Development Advisory Services » Build upon success with UAE as global model for nuclear power deployment + Develop thorium-based seed and blanket fuel designs for VVER and PWR reactors + Target governments/commercial entities in countries seeking to improve or build
Slide 14: Operating/Corporate Highlights
Operating/Corporate Highli Fuel Technology i Advisory Services Milestones Milestones Successful completion of Lead Test Entered into multiple five-year Assembly Program Plan | agreements to provide strategic advice for planning and implementation of nuclear energy with United Arab Completed conceptu
Slide 15: Fuel Development in Detail
Fuel Development in Detail Thorium Power, Lid.
Slide 16: Fuel Development in Detail
Fuel Development in Detail
Slide 17: Overview — Fuel Designs
ve Overview — Fuel Designs - No weapons usable materials produced « Reduced of political risk Proliferation 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 re
Slide 18: Summary of VVER Fuel Development Process
Summary of VVER Fuel Development Process Phase IV: Full-Scale Product Testing & Validation Phase V: Commercial Implementation Define new product and economic feasibility Develop project plan Preliminary design and fabrication process and validation Detailed design and fabrication process and review
Slide 19: VVER 1000 Fuel Design Overview — Phase I
VVER 1000 Fuel Design Overview — Phase | / + Define New Product: Identify key fuel design criteria and generate one or more fuel design concepts that could meet the selected key fuel design criteria + Perform Feasibility Study: Evaluate technical feasibility of the selected design concept and its ab
Slide 20: VVER 1000 Fuel Design Overview — Phase II
VVER 1000 Fuel Design Overview — Phase II Phase Il: Preliminary Design Completed a + Preliminary Design and Fabrication Process: — Develop preliminary fuel assembly design and conduct scoping tests to validate design parameters. — Develop preliminary fabrication process, establish a lab- scale fabri
Slide 21: VVER Fuel Design Overview — Phase III
VVER 0 Fuel Design Overview — Phase III 7 + Detailed Design Process: Develop detailed fuel assembly design and conduct advanced testing in test facilities to validate detailed design parameters. Phase Ill: + Detailed Fabrication Process: Develop fabrication process Detailed for lead test assemblies
Slide 22: VVER 1000 Fuel Design Overview — Phase IV
VVER 1000 Fuel Design Overview — Phase IV (~ Regulatory Licensing for Lead Test Assemblies: Official certification of fuel assembly design by a nuclear regulatory authority and clearance for lead test assembly testing + Fabrication of Lead Test Assemblies: Fabrication and Phase IV: delivery of lead
Slide 23: VVER 1000 Fuel Design Overview — Phase V
VVER 1000 Fuel Design Overview — Phase V “% + Regulatory Licensing for Partial and Full Core Implementation: Official certification of fuel assembly design by a nuclear regulatory authority and clearance for partial and full core implementation in commercial nuclear power plants Phase V: Commercial
Slide 24: VVER-1000 Fuel Development Program: Baseline Schedule (1)
VVER-1000 Fuel Development Program: Baseline Program Schedule (1) 1997 | 2000 | 2003 | 2006 | 2009 | 2012 Pee Se Phase | - Conceptual Design: Technical Feasibility Study / VVER-1000 Key Fuel Technologies & Reactor Design Compatibility = Licensing Activities for Thorium Use Phase Il - Preliminary Des
Slide 25: VVER-1000 Fuel Development Program: Baseline Schedule (2)
VVER-1000 Fuel Development Program: Baseline Program Schedule (2) 2009- 201. 2015: 2018. 2012 2015 2018 2021 Phase III - Detailed Design: Loop Irradiation of Fuel Samples in the Test Reactor —=, Detailed Design Analysis for Fuel Assembly Detailed Design — Mockups for Out of Reactor Testing Fabricati
Slide 26: PWR Fuel Development Program: Baseline Schedule (1)
PWR Fuel Development Program: Baseline Program Schedule (1) 2006: 200i 2008 2010 2012 | 2014 | 2016 | 2018 Phase | - Conceptual Design: Technical Feasibility Study / PWR Estimate Costs & Market 1 Develop Project Plan = Phase Il — Preliminary Design: Preliminary Design Analysis for Fuel Assembly Le |
Slide 27: PWR Fuel Development Program: Baseline Schedule (2)
PWR Fuel Development Program: Baseline Program Schedule (2) 2009- | 2010- | 2012- | 2014- | 2016. 2010 | 2012 | 2014 | 2016 | 2018 Phase III — Detailed Design: Detailed Design Analysis for Fuel Assembly Loop Irradiation of Fuel Samples in the Test Reactor Detailed Design — Mockups for Out of Reactor
Slide 28: Addressable VVER Fuel Market
Addressable VVER Fuel Market (India Market Only) Total Thorium Thorium Power Forecasted Annualized Market Baseline Baseline Annual PWR Total # | Fuel Market Share Annualized Licensing Opportunities Value” Assumptions Fuel Spend Revenue** em Existing / Under ©) Construction 2 $80M 0%-50% SOM-$40M $0M
Slide 29: Global PWR Market
Global PWR Market « 5 rica Reactors in [i Under construction [ll Proposed operation and planned (196 total) (191 total) (22 total) * Does not include WER reactors ~ Easter Europe (including Russia) and Japan are not considered significant target market segments for insertion of Thorium fuel into “We
Slide 30: Addressable PWR Fuel Market
dressable PWR Fuel Market A B Cc D E Total Thorium Thorium Power Forecasted Annualized Market Baseline Baseline Annual PWR Total # | Fuel Market Share Annualized Licensing Opportunities Value* Assumptions Fuel Spend Revenue** Existing / Under Construction 195 $7.8B 5% —-10% $390M-$780M $20M-$39M Rea
Slide 31: Advisory and Consulting Services
Advisory and Consulting Services Thorium Power, Ud.
Slide 32: Advisory Services Core Strengths
dvisory Services Core Strengths Experienced team of nuclear professionals Unbiased Advice and Strategic Planning Comprehensive design for nuclear program and related infrastructure Program Technology analysis and site-specific adaptability Assessment Contractor, materials, and equipment evaluation S
Slide 33: Legislative Overview
Legislative Overview Thotium Power, Lid, a
Slide 34: Supportive Government Action
ive Government Acti Key Legislatio Reid-Hatch Thorium Energy Independence and Global 123 Agreements Security Act of 2008 * Thorium Action Group * UAE — Thorium Power, Westinghouse, GE “india + Benefits of 123 Agreements + Benefits of the Bill —- Bilateral U.S. government support — U.S. government su
Slide 35: Financial Overview
Financial Overview Thorium Power, Lid,
Slide 36: 2008 Financial Results — Income Statement
2008 Financial Results — Income Statemen For years ended December 31, ($000, except per share amounts. 2008 2007 Total Revenue $22,220 $— ehh eae Services 11,089 _ Gross Margin 11,131 = Total Operating Expenses 14,174 11,761 Operating Loss (3,042) (11,761) Net Loss (2,859) (11,453) coin” per Common
Slide 37: 2008 Financial Results — Balance Sheet
2008 Financial Results — Balance Sheet As of December 31, 2008 ($000) Cash and cash equivalents $ 5,580 Total Current Assets $ 11,982 Total Assets $ 12,467 Total Current Liabilities $ 5,139 Total Liabilities $ 5,139 Total Stockholders’ Equity $ 7,308 Total Liabilities and Shareholders Equity $ 12,46
Slide 38: Corporate Initiatives
Corporate Initiatives Thorium Power, Lid. a7
Slide 39: 2009 Corporate Initiatives — Senior Exchange
2009 Corporate Initiatives — Senior Exchange + Goal - List ona senior exchange + Become accessible to a wider audience of investors — Mutual funds — Exchange traded funds — Industry indices (i.e., WNA Nuclear Index) + Timing planned around market conditions and corporate events for second half 2009
Slide 40: 2009 Corporate Initiatives — Branding
2009 Corporate | + Company’s mission is bigger than “thorium” vugtelene — Safe, clean and responsible nuclear 4 a ie i power Lightbridge * Corporate evolution — More than fuel; more than thorium + Branding program will help the Company enhance its corporate reputation and energize stakeholders * Sec
Slide 41: Conclusion
Conclusio Thorium Power, Ltd. ra
Slide 42: Nuclear Energy for the 21st Century
clear Energy for the 21st Century + World class technology and advisory services to provide clean, safe, non- proliferative nuclear generation » New, untapped, readily available source of energy — Thorium — Reduced reliance on Uranium + Comprehensive technology development and commercialization stra
Slide 43: Q&A
Q8A Thorium Power, Lid. 2