Paragon Advanced Labs, Inc. · TSXV:PALS
Paragon Advanced Labs — Investor Presentation (July 2026)
16 slides from Paragon Advanced Labs's investor presentation, July 2026
Slide 1: Building a Global Network of Assay Labs with PhotonAssay
July 2026 Building a Global Network of Assay Labs with PhotonAssay TSXV: PALS | OTC – In Process
Slide 2: Forward Looking Statements
Forward Looking Statements Certain information set forth in this presentation contains “forward-looking information”, including “future-oriented financial information” and “financial outlook”, under applicable securities laws (collectively referred to herein as forward-looking statements). Except fo
Slide 3: Paragon Advanced Labs
Paragon Advanced Labs Robust Commodity Prices: Gold, Silver, Copper prices are driving significant interest in mining, with project economics now very attractive in most cases. Picks & Shovels Exposure to Mining Cycle Paragon represents an institutional "picks and shovels" Asset Light Model with Sig
Slide 4: Capital is Flooding into Mining and Lands at the Lab
Capital is flooding Financing intoAssay Activity Leads mining — and it lands at the lab Demand FY2025 actuals and Q1 2026 to date — the investment cycle that drives drilling, sampling and assay demand Capital pouring in Still accelerating It lands at the lab FY2025 YTD 2026 THE PAYOFF $93.7B $43.8B
Slide 5: Mining's Assay Bottleneck
Mining's Assay Bottleneck Time Compounds Capital Destruction Traditional fire assay is an archaic, slow, chemical-heavy manual process that cannot scale. Time is a capital killer in mining. The Severe Cost of Waiting: • Stalls active drill rig positioning decisions. • Incurs costly idle rig overhead
Slide 6: Benefits: PhotonAssay vs. Fire Assay
Benefits: PhotonAssay vs. Fire Assay Two ways to measure how much gold is in a rock sample — a modern X-ray method compared with the conventional laboratory technique. SIDE-BY-SIDE COMPARISON WHAT IT DELIVERS Traditional PhotonAssay Fire Assay Faster Lower Costs Turnaround Time per sample ~3–4 hours
Slide 7: Optimizing our Hub-and-Spoke Network
Optimizing our Hub-and-Spoke Network 3 Operating Hubs: Centralized hubs offering PhotonAssay in Hamilton (ON), Surrey (BC), and Sparks (NV) – as well as NV FA/ICP Spokes: Timmins, Thunder Bay, Coeur D’Alene satellites drive customer acquisition and capacity utilization Differentiated Product: Only t
Slide 8: PhotonAssay: Supply–Demand Dynamics
PhotonAssay : Supply–Demand Dynamics A demand-rich, supply-constrained market: only a small share of the global fire-assay replacement opportunity has been deployed to date. 44 units 12 signed ~18 per year 600+ units Deployed fleet today (May 2026), Paragon has signed leases for 12 Target manufactur
Slide 9: Operational Revenue Momentum
Operational Revenue Momentum Sequential Quarterly Growth: Expected in Q3 and beyond through existing client expansion and new client acquisition Onboarding: Client wins span Tier 1 operators to newly funded exploration companies Capacity Utilization to Continue to Scale: Increasing throughput as Plu
Slide 10: PhotonAssay Unit Economics
PhotonAssayTM Unit Economics 80% Capacity Example Value Monthly Revenue (at 80% capacity) Monthly Assays per Machine 32,000 Average Assay Price $20 Sample Prep Price $4 Total Monthly Revenue $768,000 Monthly Costs Royalty per Sample $8 Cost per Sample Jar $0.50 Overhead $32,500 Total Monthly Costs $
Slide 11: Fleet Scale Run-Rate
Fleet Scale Run-Rate Clear Valuation Disconnect 12 Rather than comparing valuation strictly to legacy giants, investors should value PALS based on upcoming, contracted cash flow capacity. 3 Active Machines (EBITDAR Run-rate) ~$16.8M CONTRACTED MACHINES 12 Full Fleet Capacity (EBITDAR Run-rate) ~$67.
Slide 12: Strategic Backer & Anchor: McEwen Inc.
Strategic Backer & Anchor: McEwen Inc. Strategic Equity Interest: Mid-tier operator McEwen Inc. (NYSE/TSX) controls a 27% strategic stake in Paragon. “I view [that this] technology, is a disruptive technology that will advance the industry. And we'll be looking for other opportunities to accelerate
Slide 13: Clean & Protected Capital Structure
Clean & Protected Capital Structure Capital Summary Outstanding Other Notable Shareholders Include - Eric Sprott Common Shares Issued 32,736,522 - Michael Gentile Options & Warrants 919,050 - Aegis, Ixios, US Global and Delbrook Fully Diluted Shares 33,655,572 Senior Secured Debt ~$4,000,000 13
Slide 14: Our Operational Leadership Team
Our Operational Leadership Team Peter Shippen Shaun Compton Laurentiu Fulea CHIEF EXECUTIVE OFFICER & DIRECTOR MANAGING DIRECTOR CANADA OPERATIONS Over 22 years of elite capital markets and scaling Over 30 years of global laboratory and site operations Master operations manager. Formerly oversaw 10
Slide 15: A Scarce Asset at the Right Moment
A Scarce Asset at the Right Moment Robust Mining Cycle Asset Light, Technology Client Acquisitions, Enabled Supportive Cap Table Significant financings are driving increased drilling – requires fast, precise, hazard-free Optimizing current footprint with outlook to Strong Unit Economics scaling with
Slide 16: Contact Us
Contact Us Peter Shippen, CEO peter.shippen@paragonadvanced.com +1 (416) 930-7711 120 Adelaide Street W., Suite 2400 Toronto, ON M5H 1P9 Website: paragonadvanced.com TSXV: PALS 16
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