Silex Systems Limited · ASX:SLX
Silex Systems — Shareholder Meeting (October 2025)
33 slides from Silex Systems's shareholder meeting presentation, Oct 17, 2025
Slide 1: 2025 Annual General Meeting
Silex Systems Limited For personal use only 2025 Annual General Meeting 17 October 2025 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 About Silex Systems Limited (ASX: SLX) (OTCQX: SILXY) Silex Systems Limited ABN 69 003 372 067 (Silex or Company) is a technology commercialisation company, the primary asset of which is the SILEX laser enrichment technology (SILEX technology), originally
Slide 3: Silex Investment Highlights
Silex Investment Highlights Progressing at pace towards commercialising Silex’s unique laser enrichment technology Unique, innovative third-generation laser-based SILEX1 uranium enrichment technology for 1 uranium and nuclear fuel production in the US, classified by the US and Australian Governments
Slide 4: Silex's Strategy is Focused on Maximising Shareholder Value
Silex’s Strategy is Focused on Maximising Shareholder Value Two distinct value propositions for Silex shareholders when it comes to GLE1 Equity interest in GLE – currently at 51% Silex Perpetual royalty from GLE (under the exclusive 1 ownership, minimum 25% interest 2 SILEX technology licence agreem
Slide 5: Highlights and upcoming catalysts for GLE / Silex
Highlights and upcoming catalysts for GLE / Silex RECENT HIGHLIGHTS EXPECTED UPCOMING CATALYSTS 1 TECHNOLOGY DEMONSTRATION TRL-6 PILOT DEMONSTRATION • GLE commenced large-scale demonstration tests for TRL-6 in May 2025 1 • Completion expected by end of CY2025, subject to independent • Focused on str
Slide 6: Silex Corporate Snapshot
Silex Corporate Snapshot Silex Systems Limited (“Silex”) is an Australian technology company focused on the commercialisation of our innovative SILEX laser-based enrichment technology Market Capitalisation 1 Share price (A$/share) ASX:SLX For personal use only OTCQX: SILXY ~A$2bn A$7.47 Uranium prod
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 1st Generation Technology 2nd Generation Technology 3rd Generation Technology For personal use only Gaseous Diffusion Centrifuge SILEX Laser Very low efficiency – tails legacy Modest efficiency Higher efficiency and throughput High cost Moderate cost Antici
Slide 9: Progressing Large-Scale Pilot Demonstration (TRL-6)
Progressing Large-Scale Pilot Demonstration (TRL-6 1) and focusing on preliminary commercial plant activities • Standard Technology Readiness Levels (TRL) scale used to assess the stage of technology / system development of the SILEX technology • GLE progressing key large-scale technology demonstrat
Slide 10: Overview of Global Laser Enrichment (GLE)
Overview of Global Laser Enrichment (GLE) • GLE is a US-based JV between Silex (51%) and Cameco Corporation (49%), with ~110 employees and contractors • Focused on the commercialisation of the SILEX uranium enrichment technology in the US1, with sites in North Carolina and Kentucky Paducah Laser Enr
Slide 11: The Paducah Laser Enrichment Facility (PLEF)
The Paducah Laser Enrichment Facility (PLEF) GLE’s economic potential based on its unique ability to address the ‘Triple Opportunity’ For personal use only PLEF UF6 PLEF LEU PLEF HALEU Product: Natural Grade Uranium Product: Low Enriched Uranium Product: High Assay LEU (as UF6) (LEU/LEU+) (HALEU) GL
Slide 12: PLEF Nuclear Fuel Opportunities for GLE and the SILEX Technology
PLEF Nuclear Fuel Opportunities for GLE and the SILEX Technology DOE Tails Inventories PLEF Tails Enrichment PLEF Enrichment SILEX/GLE Opportunities Depleted UF6 PLEF Natural UF6 Includes: Expected U₃O₈ production of up to 5m lbs/year For personal use only LT U₃O₈ price ~US$80/lb1 Conversion of up t
Slide 13: GLE's Potential PLEF Commercial Plant Opportunities
GLE’s Potential PLEF Commercial Plant Opportunities1 GLE – PLEF Potential Commercial Plant (conceptual only) HALEU ~15 MTU Potential For personal use only future expansion LEU / LEU+ PLEF LEU 2MSWU and up to 6MSWU PLEF Source: GLE – PLEF Potential Commercial NUF6 Plant (conceptual only) DUF6: Deplet
Slide 14: PLEF UF6 Production Opportunity
PLEF UF6 Production Opportunity (Natural UF6 production from DOE tails – an ‘above ground uranium mine’) Akin to a ‘Tier 1’ Equivalent U3O8 Uranium Resource2 Aim to commence Production Based on the expected low initial commercial Potential production of up to 5 For personal use only cost and longevi
Slide 15: GLE's Indicative Target Timeline for Commercialisation
GLE’s Indicative Target Timeline for Commercialisation of SILEX Technology1 2025 2026 2027 2028 2029 2030 TRL-62 PRODUCTION TECHNOLOGY FINALISATION: TRL-7, 8, and MRL-7, 8, 93 Large-scale Pilot Demonstration Full-scale production systems in Lead Cascade + Supply Chain + Manufacturing For personal us
Slide 16: GLE's Commercialisation Activities for the SILEX technology
GLE’s Commercialisation Activities for the SILEX technology Paducah, KY, site acquisition and commercial plant licensing activities1: • GLE acquired a ~700-acre site for the planned PLEF in November 2024 • Site is strategically located adjacent the US DOE’s former first-generation PGDP For personal
Slide 17: GLE HQ and Classified Manufacturing Facility, Wilmington NC
GLE’s Commercialisation Activities for the SILEX technology GLE HQ and classified manufacturing facility in Wilmington, NC: For personal use only GLE HQ and Classified Manufacturing Facility – Wilmington, NC www.silex.com.au 17
Slide 18: Summary – Status of GLE's Commercialisation Activities
Summary – Status of GLE’s Commercialisation Activities: GLE is transitioning from technology demonstration to early-stage activities for the planned PLEF commercial plant • GLE and Silex are progressing the large-scale pilot demonstration (TRL-6) – key technology de-risking milestone Technology matu
Slide 19: 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 19
Slide 20: 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 Clean energy supporting Net-Zero 2050 targets Advanced reactors in development, including SMRs For personal use only Low LCOE ~US$70/MWhr1 Nuclear Power Value Propositi
Slide 21: Nuclear Fuel Supply Chain and Evolving Issues
Nuclear Fuel Supply Chain and Evolving Issues • The Nuclear Fuel Supply Chain For personal use only SILEX/GLE Opportunities Issues facing the Global Nuclear Fuel Supply Chain: • Western supply chain recent history – curtailments and under-investment in resources and production capability • Supply ch
Slide 22: Significant Nuclear Power Growth Expected
Significant Nuclear Power Growth Expected World Nuclear Power Reactor Population • 439 Operable Power Reactors Worldwide • Nuclear supplies ~10% of global electricity • Strong nuclear energy growth projected – Net- For personal use only Zero targets, electrification, and energy security priorities •
Slide 23: The US is the world's largest producer of Nuclear Power
The US is the world’s largest producer of Nuclear Power Conventional Large-Scale Operable Reactors Operable Reactor Units (Top 10) US 94 (96,952 MWe) • Of 439 Operable Reactors For personal use only China 58 (56,930 MWe) Power Worldwide – 94 in US France 57 (63,000 MWe) (21%) Russia 36 (26,802 MWe)
Slide 24: GLE's PLEF may help address US uranium and enrichment vulnerability
GLE’s PLEF may help address US uranium and enrichment vulnerability Uranium purchased by owners and operators of U.S. civilian Enrichment purchased by owners and operators of U.S. civilian nuclear power reactors, 2014-2024 nuclear power reactors, 2014-2024 Million SWU 60 18.0 16.0 50 14.0 For person
Slide 25: Emerging Nuclear Fuel Supply Opportunities for GLE
Emerging Nuclear Fuel Supply Opportunities for GLE Million lbs U3o8 © UxC Uncovered Uranium Base Case Demand Million SWU Uncovered SWU Base Case Demand © UxC 325 100 300 90 275 80 250 225 70 For personal use only 200 60 175 50 150 Non-U.S. Utilities Non-U.S. Utilities 125 40 United States United Sta
Slide 26: Favourable Nuclear Fuel Market Price Trends
Favourable Nuclear Fuel Market Price Trends Uranium Price Conversion Price Enrichment (SWU) Price US$/lb US$/kgU US$/SWU $120.00 $120.00 $220.00 Russia- U3O8 U3O8 LT Russia- Russia- SWU Spot SWU LT Ukraine NA NA $200.00 Ukraine Ukraine Spot Conv Spot Conv LT $100.00 invasion invasion invasion $100.0
Slide 27: Additional Growth Opportunities for Silex
For personal use only Additional Growth Opportunities for Silex www.silex.com.au 27
Slide 28: Silex Q-Si Production Project for Quantum Computing
Silex Q-Si Production Project for Quantum Computing • Quantum Silicon (Q-Si) Production Project announced in August 2023 is being undertaken with partners, Silicon Quantum Computing Pty Ltd (SQC) and UNSW Sydney (UNSW) to establish the first commercial Q-Si Production Plant module • Project leverage
Slide 29: Silex Q-Si Production Module – Lucas Heights, NSW
Silex Q-Si Production Project for Quantum Computing For personal use only Silex Q-Si Production Module – Lucas Heights, NSW www.silex.com.au 29
Slide 30: MIST Project for Medical Isotopes
MIST Project for Medical Isotopes MIST Project aiming to develop a process to enrich ytterbium-176 (Yb-176) for production of lutetium-177 (Lu-177): • Lu-177-based radiotherapy represents a breakthrough development for the diagnosis and treatment of some aggressive metastatic cancers (initially appr
Slide 31: Summary
For personal use only Summary www.silex.com.au 31
Slide 32: Summary
Summary ••Summary Silex represents unique leverage into the nuclear fuel supply chain, with significant potential value through equity ownership in GLE (currently 51%), in addition to potential perpetual royalty flows under the SILEX uranium enrichment technology licence • GLE’s path to market is un
Slide 33: Thank you
For personal use only Thank you www.silex.com.au 33