Silex Systems Limited · ASX:SLX
Silex Systems — Shareholder Meeting (October 2026)
31 slides from Silex Systems's shareholder meeting presentation, Oct 16, 2026
Slide 1: 2026 Annual General Meeting
For personal use only Silex Systems Limited 2026 Annual General Meeting 16 October 2026 Dr Michael Goldsworthy CEO/Managing Director Silex Systems Limited ASX: SLX OTCQX: SILXY www.silex.com.au 1
Slide 2: Forward Looking Statements and Risk Factors
Forward Looking Statements and Risk Factors For personal use only About Silex Systems Limited (ASX: SLX) (OTCQX: SILXY) Silex Systems Limited ABN 69 003 372 067 (Silex or the Company) is a technology commercialisation company, the primary asset of which is the SILEX laser enrichment technology (SILE
Slide 3: Focus on commercialising SILEX laser enrichment technology for three key markets
Silex is focused on the commercialisation of its innovative SILEX laser-based enrichment technology for For personal use only application to three key global markets Uranium production Silicon enrichment Stable isotope and enrichment (silicon quantum enrichment (nuclear power) computing) (including
Slide 4: Silex Investment Highlights
Silex Investment Highlights Progressing at pace towards commercialising Silex’s laser enrichment technology For personal use only 1 Unique third-generation laser-based SILEX1 enrichment technology for uranium and nuclear fuel production in the US, classified by the US and Australian Governments 2 Le
Slide 5: Silex's unique advantage for maximising shareholder value
Silex’s unique advantage for maximising shareholder value1 For personal use only Two distinct value propositions for Silex shareholders when it comes to GLE: Equity interest in GLE – currently at 51% Silex Perpetual royalty from GLE (under the exclusive 1 2 ownership SILEX technology licence agreeme
Slide 6: Highlights and upcoming catalysts for GLE / Silex
Highlights and upcoming catalysts for GLE / Silex For personal use only RECENT HIGHLIGHTS EXPECTED UPCOMING CATALYSTS Full Production Offtake Agreement Executed 1 Finalisation of Technology Maturation 1 • Execution of Offtake Agreement for GLE production September 2026 • TRL-7 activities underway, f
Slide 7: SILEX Uranium Enrichment Technology and GLE's Commercialisation Plan
For personal use only SILEX Uranium Enrichment Technology and GLE’s Commercialisation Plan www.silex.com.au 7
Slide 8: Evolution of Uranium Enrichment Technology
Evolution of Uranium Enrichment Technology For personal use only 1st Generation Technology 2nd Generation Technology 3rd Generation Technology Gaseous Diffusion Centrifuge SILEX Laser Very low efficiency – tails legacy Modest efficiency Higher efficiency and throughput High cost Moderate cost Antici
Slide 9: Nuclear Fuel Supply Chain and Evolving Issues
Nuclear Fuel Supply Chain and Evolving Issues For personal use only • (LEU/LEU+ and HALEU) Issues facing the Global Nuclear Fuel Supply Chain: • Western supply chain recent history – curtailments and under-investment in resources and production capability • Supply chain risks have been exposed by ov
Slide 10: GLE's plans for the World's Largest 'Above-ground Uranium Mine'
GLE’s plans for the World’s Largest ‘Above-ground Uranium Mine’ For personal use only GLE’s first commercial opportunity, to produce natural grade uranium from legacy depleted tails, is effectively the world’s largest ‘above-ground uranium mine’ Paducah Laser Enrichment Facility (PLEF) GLE’s ‘above-
Slide 11: The Paducah Laser Enrichment Facility (PLEF)
The Paducah Laser Enrichment Facility (PLEF) GLE’s economic potential based on its unique single-site solution to For personal use only address the ‘Triple Opportunity’ PLEF UF6 PLEF LEU PLEF HALEU Product: Natural Grade Uranium Product: Low Enriched Uranium Product: High Assay LEU (as UF6) (LEU/LEU
Slide 12: Technology Demonstration Completed in October 2025
Technology Demonstration Completed in October 2025 For personal use only GLE completed key large-scale technology demonstration (TRL 1-6) in October 2025 • Standard Technology Readiness Level (TRL) scale used to assess the stage of technology / system development of the SILEX technology • Increasing
Slide 13: DOE's 60-year Legacy of Producing Depleted Uranium Tails in KY
DOE’s 60-year Legacy of Producing Depleted Uranium Tails in KY For personal use only US DOE Paducah Gas Diffusion Plant (PGDP) 1952 to 2013 LEU First generation inefficient Product and costly technology Assay 3% - 5% Feed – Nat UF6 PGDP Assay 0.7% Operations High Assay Depleted Tails Assay 0.25% - T
Slide 14: GLE's Potential PLEF Commercial Plant Opportunities
GLE’s Potential PLEF Commercial Plant Opportunities1 For personal use only GLE – PLEF Potential Commercial Plant (conceptual only) HALEU ~15 MTU Potential future expansion LEU / LEU+ PLEF LEU 2MSWU and up to 6MSWU PLEF Source: GLE – PLEF Potential Commercial NUF6 Plant (conceptual only) DUF6: Deplet
Slide 15: PLEF UF6 Production Opportunity
PLEF UF6 Production Opportunity Natural grade UF6 production from DOE tails – world’s largest ‘above-ground uranium mine’ For personal use only Aim to commence Akin to a ‘Tier 1’ Equivalent U3O8 initial commercial Uranium Resource2 Production operations by 20301 Potential production of up to Based o
Slide 16: GLE's Indicative Target Timeline for Commercialisation of SILEX Technology
GLE’s Indicative Target Timeline for Commercialisation of SILEX Technology1 For personal use only RECENT 2026 2027 2028 2029 2030 ACHIEVEMENTS TRL-62 Large-scale Pilot PRODUCTION TECHNOLOGY FINALISATION: TRL-7, 8, and MRL-7, 8, 93 Demonstration – completed in Full-scale production systems in Lead Ca
Slide 17: GLE's Commercialisation Activities for the SILEX Technology
GLE’s Commercialisation Activities for the SILEX Technology For personal use only The PLEF commercial plant site and licensing activities1: • GLE acquired a ~700-acre site for the planned PLEF in November 2024 • Site is strategically located adjacent to the US DOE’s former first-generation Paducah G
Slide 18: GLE's Commercialisation Activities: Preliminary PLEF Site Activities
GLE’s Commercialisation Activities for the SILEX Technology For personal use only Paducah, KY, preliminary PLEF site activities1: PLEF site, Paducah, KY 1. GLE’s progress to commercialisation is dependent on several factors, including, but not limited to: technology maturation outcomes, market condi
Slide 19: GLE HQ and Classified Manufacturing Facility, Wilmington NC
GLE’s Commercialisation Activities for the SILEX technology For personal use only GLE HQ and classified manufacturing facility in Wilmington, NC – establishing an advanced US domestic manufacturing base and supply chain: GLE HQ and Classified Manufacturing Facility – Wilmington, NC www.silex.com.au
Slide 20: Uranium Sector and Nuclear Fuel
For personal use only Uranium Sector and Nuclear Fuel The renaissance of the global nuclear industry www.silex.com.au 20
Slide 21: Nuclear power is a leading source of carbon-free base load electricity
Nuclear power is a leading source of carbon-free base load electricity to achieve climate, energy, and national security objectives For personal use only Clean energy supporting Net-Zero 2050 targets Advanced reactors in development, including SMRs Low LCOE ~US$78/MWhr1 Nuclear Power Value Propositi
Slide 22: Significant Nuclear Power Growth Expected
Significant Nuclear Power Growth Expected For personal use only World Nuclear Power Reactor Population • 441 Operable Power Reactors Worldwide • Nuclear supplies ~10% of global 336 980 electricity in 27 countries • Strong nuclear energy growth projected – Net-Zero targets, electrification, and energ
Slide 23: GLE's PLEF: single-site solution for US uranium, conversion, enrichment
GLE’s PLEF – a potential single-site solution for US uranium, conversion, and enrichment services For personal use only The current US fleet of 94 reactors is largely dependent on imports for uranium, conversion, and enrichment requirements Uranium (Mlbs U308) Conversion (MkgU) Enrichment (MSWU) 1%
Slide 24: Nuclear Fuel Supply Opportunities for GLE
Nuclear Fuel Supply Opportunities for GLE For personal use only Uncovered Uranium Base Case Demand © UxC 325 300 275 250 Forecast uncovered US 225 Million lbs U3o8 200 uranium demand from early 2030s 175 150 125 Non-U.S. Utilities United States is in excess of 25 million lbs annually 100 Total Requi
Slide 25: Favourable Nuclear Fuel Market Price Trends
Favourable Nuclear Fuel Market Price Trends For personal use only Uranium Price US$/kgU Conversion Price US$/SWU Enrichment (SWU) Price US$/lb $120.00 $120.00 $220.00 $215.00 Russia-Ukraine Russia-Ukraine Russia-Ukraine $200.00 Invasion (Feb 2022) Invasion (Feb 2022) Invasion (Feb 2022) $100.00 $96.
Slide 26: Additional Growth Opportunities for Silex
For personal use only Additional Growth Opportunities for Silex www.silex.com.au 26
Slide 27: Silex Q-Si Production Project for Quantum Computing
Silex Q-Si Production Project for Quantum Computing For personal use only • Construction of the world’s first laser-based silicon enrichment plant completed in June 2026, with final plant commissioning activities underway • Project leverages the successful pilot demonstration of ‘Zero-Spin Silicon’
Slide 28: Silex Q-Si Production Module, Lucas Heights
Silex Q-Si Production Project for Quantum Computing For personal use only Silex Q-Si Production Module – Lucas Heights, Sydney, NSW www.silex.com.au 28
Slide 29: Summary
For personal use only Summary www.silex.com.au 29
Slide 30: Summary
Summary For personal use only ••Summary Silex provides unique leverage into the nuclear fuel supply chain, with significant potential value through equity ownership in GLE (currently 51%), in addition to perpetual royalty flows under the SILEX uranium enrichment technology licence • GLE’s path to ma
Slide 31: Thank you
For personal use only Thank you www.silex.com.au 31