Silex Systems Limited · ASX:SLX
Silex Systems — Investor Presentation (February 2026)
25 slides from Silex Systems's investor presentation, Feb 25, 2026
Slide 1: Commercialising Next-Generation Laser Enrichment Technology
Commercialising Next-Generation Laser Enrichment Technology Investor Briefing Presentation | 25 February 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 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 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 Leveraged to glob
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 2 ownership SILEX technology licence agreement) • Equity positio
Slide 5: GLE's PLEF – a potential single-site solution for US uranium, conversion, and enrichment services
GLE’s PLEF – a potential single-site solution for US uranium, conversion, and enrichment services The US fleet of 94 reactors is largely dependent on imports for uranium, conversion, and enrichment • GLE’s PLEF UF6 production project is unique – requirements* world’s largest ‘above-ground uranium mi
Slide 6: Nuclear Fuel Supply Opportunities for GLE
Nuclear Fuel Supply Opportunities for GLE Million lbs U3o8 Uncovered Uranium Base Case Demand © UxC 300 250 Forecast uncovered US 200 uranium demand from 2030 150 100 Non-U.S. Utilities is in excess of United States 50 0 Total Requirements Uncovered US Demand ~25 million lbs annually 25 26 27 28 29
Slide 7: Highlights and upcoming catalysts for GLE / Silex
Highlights and upcoming catalysts for GLE / Silex RECENT HIGHLIGHTS EXPECTED UPCOMING CATALYSTS TECHNOLOGY DEMONSTRATION COMPLETED 1 CONTINUED TECHNOLOGY MATURATION 1 • Key large-scale technology demonstration (TRL-6) successfully • TRL-7 activities underway, focusing on technology maturation and fi
Slide 8: SILEX Uranium Enrichment Technology and GLE's Commercialisation Plan
SILEX Uranium Enrichment Technology and GLE’s Commercialisation Plan www.silex.com.au 8
Slide 9: Nuclear Fuel Supply Chain and Evolving Issues
Nuclear Fuel Supply Chain and Evolving Issues • (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 over-dependence on Russi
Slide 10: Evolution of Uranium Enrichment Technology
Evolution of Uranium Enrichment Technology 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 Anticipated to be lower cost
Slide 11: Technology Demonstration Completed in October 2025
Technology Demonstration Completed in October 2025 GLE completed key large-scale technology demonstration (TRL-61) in October 2025 • Standard Technology Readiness Level (TRL) scale used to assess the stage of technology / system development of the SILEX technology • Increasing focus on establishing
Slide 12: 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 US, with sites in North Carolina and Kentucky Paducah Laser Enri
Slide 13: 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 Total Operable Reactor Units (Top 10) US 94 (96,952 MWe) China 59 (58,056 MWe) France 57 (63,000 MWe) Russia 34 (27,870 MWe) 436 Japan 33 (31,679 MWe) Operable Reactors Worldwide South Korea 26 (25,609
Slide 14: Favourable Nuclear Fuel Market Price Trends
Favourable Nuclear Fuel Market Price Trends • Global nuclear fuel markets tightening and bifurcating in response to Russia’s invasion of Ukraine and nuclear fuel sanctions and prohibitions • Uranium term price rises (~100%) reflect the significant concerns over looming supply shortfalls in the open
Slide 15: 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’ PLEF UF6 PLEF LEU PLEF HALEU Product: Natural Grade Uranium Product: Low Enriched Uranium Product: High Assay LEU (as UF6) (LEU/LEU+) (HALEU) GLE’s ‘above-ground uran
Slide 16: 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 LT U₃O₈ price ~US$90/lb1 Conversion of up to 2m kgU/year LT NA pr
Slide 17: 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 future expansion LEU / LEU+ PLEF LEU 2MSWU and up to 6MSWU PLEF Source: GLE – PLEF Potential Commercial NUF6 Plant (conceptual only) DUF6: Depleted UF6 ~2,000 MTU DDUF
Slide 18: 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 cost and longevity of Potential production of up to 5 operations by 20
Slide 19: GLE's Indicative Target Timeline for Commercialisation of SILEX Technology
GLE’s Indicative Target Timeline for Commercialisation of SILEX Technology1 Recent achievements 2026 2027 2028 2029 2030 TRL-62 Large-scale Pilot PRODUCTION TECHNOLOGY FINALISATION: TRL-7, 8, and MRL-7, 8, 93 ✓ Demonstration – completed in October 2025 Full-scale production systems in Lead Cascade +
Slide 20: GLE's Commercialisation Activities for the SILEX Technology
GLE’s Commercialisation Activities for the SILEX Technology 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 the US DOE’s former first-generation PGDP • Site provides access to the
Slide 21: GLE's Commercialisation Activities for the SILEX Technology
GLE’s Commercialisation Activities for the SILEX Technology 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 conditions, licensing, indu
Slide 22: GLE's Commercialisation Activities for the SILEX technology
GLE’s Commercialisation Activities for the SILEX technology 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 22
Slide 23: Summary – Status of GLE's Commercialisation Activities
Summary – Status of GLE’s Commercialisation Activities GLE is focusing on technology maturation and other preliminary activities for the potential deployment of the PLEF • GLE and Silex completed the large-scale pilot demonstration (TRL-6) in October 2025 – a key technology de-risking milestone Tech
Slide 24: 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 perpetual royalty flows under the SILEX uranium enrichment technology licence • GLE’s path to market is underpinned
Slide 25: Thank you
Thank you www.silex.com.au 25
Silex Systems — Investor Presentation (February 2026) on 6ix