Asp Isotopes Inc. · NASDAQ:ASPI
Asp Isotopes — Investor Presentation (August 2026)
36 slides from Asp Isotopes's investor presentation, August 2026
Slide 1: August 2026
August 2026 1 | © ASP Isotopes Inc.
Slide 2: Forward-looking statements
Forward-looking statements This presentation contains, and our officers and representatives may from time to time make, “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither h
Slide 3: Forward-looking statements (continued)
Forward-looking statements (continued) There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including, but not limited to: the outcomes of various strategies and projects undertaken b
Slide 4: ASP Isotopes: Goal to Strengthen Access to Critical Materials
ASP Isotopes: Goal to Strengthen Access to Critical Materials Scaling capacity, expanding portfolio, and improving unit economics What We Do Value Drivers Proof & Milestones Differentiated Isotope Enrichment Platform ▸ Scale Capacity across enrichment Advancing Lead Assets ▸ Aerodynamic Separation P
Slide 5: ASP Isotopes: Corporate Structure
ASP Isotopes: Corporate Structure ASP Isotopes Inc. Delaware, US NASDAQ (ASPI) Radiopharmacy Platform Stable Isotopes Production Platform Helium & LNG Production Capturing a Fragile Nuclear Fuel Scalable PET isotope manufacturing for Three stable isotope production facilities in Virginia Gas Project
Slide 6: Three Strategic, Multi-Billion Dollar Market Opportunities
Three Strategic, Multi-Billion Dollar Market Opportunities Isotopes have one of the most severely compromised supply chains of any material in the world. The US Department of Energy and the majority of Western governments identify isotopes as critical materials.1 • Quantum computing, quantum sensing
Slide 7: ASP Isotopes: Operation Updates
ASP Isotopes: Operation Updates Expected Milestones1 Si-28 First enriched Si-28 product expected to ship in 2H C-14 Targeting initial C-14 commercial shipments in 2H, depending on arrival of timing and quality of feedstock received from customer Yb-176 Targeting initial commercial shipments for Yb-1
Slide 8: What is Isotope Enrichment?
What is Isotope Enrichment? Isotope enrichment is the process of increasing the concentration of a desired isotope. For example, enriched Silicon-28 has a concentration of 99.995%+ vs its 92.2% natural concentration, removing Silicon-29 and 30 isotopes. What is an Isotope? ATOM IC STRUCTURE Atoms of
Slide 9: Enriched Isotopes are a Critical but Compromised Supply Chain
Enriched Isotopes are a Critical but Compromised Supply Chain Enriched isotopes have one of the most Isotope Market Producers severely compromised supply chains of any material in the world with most of the world reliant on Russia for supply. 85% 85% Russia (85%) 15% Rest of the world (15%) 15% ASP
Slide 10: Key Technologies
Key Technologies Differentiated technology platform built to serve large, supply-constrained, high-value isotope markets. 10 | © ASP Isotopes Inc.
Slide 11: Two Complementary Enrichment Platforms
Two Complementary Enrichment Platforms AERO DY N AM IC SEPAR AT IO N PRO CESS ( AS P) Q UANT UM ENRICHM ENT ( Q E) Utilizes gaseous diffusion via a stationary wall centrifuge paired with Employs precisely tuned lasers and quantum mechanical principles to proprietary flow directors to separate isotop
Slide 12: Production Plants: C-14, Si-28, & Yb-176
Production Plants: C-14, Si-28, & Yb-176 Carbon-12/ 14 (C-12/ C-14) Silicon-28 (Si-28) Ytterbium-176 (Yb-176) Enriched Carbon-12 for advanced Enriched Silicon-28 for quantum, with Enriched Ytterbium-176 for nuclear semiconductor and quantum computing ongoing exploration for advanced thermal medicine
Slide 13: Electronics
Electronics Semiconductors and Quantum Sensing 13 | © ASP Isotopes Inc.
Slide 14: Electronics: Positioned Across the Specialized Gases Value Chain
Electronics: Positioned Across the Specialized Gases Value Chain Electronic Gases ~$12 Bn+ ASP Isotopes is building a strategic position across high-value segments of the specialized Estimated global market for electronic gases supply chain 2 electronic gases (estimated 7.5% CAGR)1 Silicon-28 for ad
Slide 15: Silicon-28: Enabling Next-Generation Semiconductors
Silicon-28: Enabling Next-Generation Semiconductors Standard silicon environment: Enriched Silicon-28 environment Heat generation due to Silicon-29 and Silicon-30 scattering electrons Reduced scattering supports improved thermal flow >$2 Bn Estimated global market for silane in semiconductor applica
Slide 16: Quantum Computing
Quantum Computing We plan to capture the next generation of chips through our zero spin isotopes for quantum uses. Classical computers process information using bits that exist in one of two states (0 or 1). In contrast, quantum computers employ qubits, which can exist in a superposition of states (
Slide 17: Helium: Critical to Semiconductor Manufacturing
Helium: Critical to Semiconductor Manufacturing Why helium is essential for advanced chip fabrication Helium Applications by Industry (%) Semiconductor Mfg 20% AI Chip Market Doubling by 2030 MRI 15% AI-driven chip market forecast to grow at a CAGR of ~16%1 Fiber Optics 12% Aerospace 8% Welding 8% S
Slide 18: Virginia Gas Project: Helium Expected by 3Q 2026
Virginia Gas Project: Helium Expected by 3Q 2026 3Q 2026 $750M 12x Nameplate Capacity for Helium Target for Senior Debt Funding for Phase 21 Phase 2 vs Phase 1 Scale PRODUCTION OVERVIEW Phase 1 Production Phase 2 Expansion ▸LNG: ~2,500 GJ/day | Liquid Helium: ~70 MCF/day | ▸LNG: ~34,000 GJ/day | Liq
Slide 19: Fluorinated Gases: Enabling Semiconductor Manufacturing
Fluorinated Gases: Enabling Semiconductor Manufacturing Specialized gases used across key semiconductor manufacturing steps • We have the ability to produce bespoke on-site fluorine plants for specific customer needs. • Fluorine (F2) and Fluorine mixtures (F2/N2), Phosphorus trifluoride (PF3), Iodin
Slide 20: Electronics Isotopes
Electronics Isotopes EXPECTED ISOTOPE APPLICATION R&D EVALUATION CONSTRUCTION TECHNOLOGY MARKET ENTRY Carbon-12 QC, Semi's ✓ ✓ ✓ 2026 ASP Silicon-28 QC, Semi's ✓ ✓ ✓ 2026 ASP Germanium-70 QC ✓ ✓ ✓ 2026 ASP Yb-171 QC ✓ — — 2027+ QE Nitrogen-15 QC ✓ — — 2028 — C-14 BetaVoltaics ✓ ✓ ✓ 2028 (Demand driv
Slide 21: Nuclear Medicine
Nuclear Medicine Theranostics, PET, and SPECT PET (Positron Emission Tomography) and SPECT (Single Photon Emission Computed Tomography) 21 | © ASP Isotopes Inc.
Slide 22: Introduction to Nuclear Medicine
Introduction to Nuclear Medicine ISOTOPES OF INTEREST 6 12.011 54 30 65.380 28 58.693 70 173.04 Stable Isotope C Xe Xenon Zn Ni Yb Carbon 131.29 Zinc Nickel Ytterbium Short Half-Life 14C 68Ga 67Cu 64Cu 177Lu Radioisotope Pharmacokinetic MRI PET Scan Oncology Oncology Oncology End Market Tracing Cont
Slide 23: Theranostics: Targeting High-Value Cancer Treatment Isotopes
Theranostics: Targeting High-Value Cancer Treatment Isotopes RADIOPHARMACEUTICAL THERANOSTICS The radiopharmaceutical theranostics represents a significant Pluvicto Consensus Forecast (US$)1 >$100 M opportunity in precision oncology, with Lu-177 currently the leading commercial opportunity and Tb-16
Slide 24: PET Labs: Building a Scalable Radiopharmacy Platform
PET Labs: Building a Scalable Radiopharmacy Platform International expansion Expanding the radiopharmacy footprint following recent U.S. acquisitions, with additional opportunities under review. SPECT-to-PET strategy Leveraging acquisitions, cyclotron investment, and operating expertise to upgrade s
Slide 25: PET Isotopes: Attractive Diagnostic and Therapeutic Opportunity
PET Isotopes: Attractive Diagnostic and Therapeutic Opportunity PET ISOTOPES End Product 64Ni 64Cu >$50 M Structural ~75% of market Nickel-64 Copper-64 Supply Gap Global Market Size of 68Zn and 64Ni ~15x Increase demand in Market not likely to Demand be satisfied ▸⁶⁸Ga + ¹⁷⁷Lu — diagnostic/therapeut
Slide 26: Medical Isotopes
Medical Isotopes EXPECTED ISOTOPE APPLICATION R&D EVALUATION CONSTRUCTION TECHNOLOGY MARKET ENTRY Ytterbium-176 Theranostics ✓ ✓ ✓ 2026 QE Carbon-14 Tracing ✓ ✓ ✓ 2026 ASP Gadolinium-160 Theranostics ✓ ✓ — 2027+ QE Zinc-68 PET / Theranostics ✓ ✓ — 2027+ QE/ASP Xenon-129 MRIs ✓ ✓ — 2027+ ASP Nickel-6
Slide 27: Advance Multiple Drug Candidates Towards Human Clinical Trials
Advance Multiple Drug Candidates Towards Human Clinical Trials Targeted Radionuclide Therapy (TRT) We expect to advance multiple drug candidates towards human clinical trials in 20261 that are part of a planned pipeline of VHH Nanobodies2 Antibodies or another vector conjugated with radioisotopes sh
Slide 28: Nuclear Energy
Nuclear Energy Capturing Uranium and Lithium Enrichment, Conversion, and Sourcing 28 | © ASP Isotopes Inc.
Slide 29: Quantum Leap Energy: Capturing a Fragile Nuclear Fuel Supply Chain
Quantum Leap Energy: Capturing a Fragile Nuclear Fuel Supply Chain Capacity Geopolitical & Operational & Fuel & Reactor Issues Market Risks Safety Risks Constraints • US enrichment capacity already facing • Russia supplies 20% of enriched uranium • Single facility outages can materially • LEU+ deman
Slide 30: Milestones
Milestones 30 | © ASP Isotopes Inc.
Slide 31: ASP Isotopes: Operation Updates
ASP Isotopes: Operation Updates Expected Milestones1 Si-28 First enriched Si-28 product expected to ship in 2H C-14 Targeting initial C-14 commercial shipments in 2H, depending on arrival of timing and quality of feedstock received from customer Yb-176 Targeting initial commercial shipments for Yb-1
Slide 32: Financial Performance & Capital Position
Financial Performance & Capital Position REVENUE GROWTH TRAJECTORY ($M) CASH POSITION Revenue Breakdown ($M) Radiopharmaceuticals $5.7M Collaboration $5.1M LNG 0.6 $4.1M $4.2M 0.2 0.6 0.6 0.2 $254.9M 5.7 Cash, cash equivalents & short-term investments as of June 30, 2026 3.9 3.9 3.4 $0.4M FY2023 FY2
Slide 33: Combined EBITDA ($M)
Range of EBITDA by Product Categories in 2031 Electronic Gases Natural Gas Medical Isotopes Radiopharmaceuticals $700 $100M $600 $100M Combined EBITDA ($M) $500 $400 $200M $300 $40M $40M $200 $100M $300M $100 $150M $0 Low Range High Range EBITDA contribution by segment — EBITDA Target: >$300 Million
Slide 34: Senior Executives
Senior Executives PAUL MANN HEATHER KIESSLING ROBERT AINSCOW Chief Executive Officer Chief Financial Officer Co-Chief Operating Officer and Executive Chairman • Co-founded ASP Isotopes in September 2021 • 30+ years experience with life science and high- • Co-Founder, ASP Isotopes tech companies • 25
Slide 35: Senior Management
Senior Management DR. HENDRIK STRYDOM DR. XANDRA VAN HEERDEN HEINO VAN WYK Chief Technology Officer Head of R&D Head of Engineering • 40+ years in isotope enrichment; co-developed • Chemical Engineer with 8+ years in biomedical • Extensive EPCM experience across ASP technology engineering and separa
Slide 36: Board of Directors
Board of Directors PAUL MANN DR. MIKE GORLEY RALPH L. HUNTER SIPHO MASEKO Executive Chairman Nom. & Corp. Governance Committee Director Director • Co-founded ASP Isotopes in • Chief Technologist at UK Atomic • 30+ years in the nuclear power • Former CEO of Telkom SA; former September 2021 Energy Aut