Silex Systems Limited · ASX:SLX
Silex Systems — Investor Presentation (November 2025)
33 slides from Silex Systems's investor presentation, Nov 10, 2025
Slide 1: Investor Presentation
Investor Presentation 10 November 2025 Silex Systems Limited (Silex or the Company) (ASX: SLX; OTCQX: SILXY) provides the attached presentation to support upcoming Investor Relations activities. The presentation primarily focuses on current and future activities for the commercialisation program for
Slide 2: Commercialising Next-Generation Laser Enrichment Technology
Commercialising Next-Generation For personal use only Laser Enrichment Technology Investor Briefing Presentation | November 2025 Dr Michael Goldsworthy Julie Russell CEO/Managing Director CFO/Company Secretary Silex Systems Limited ASX: SLX OTCQX: SILXY www.silex.com.au 1
Slide 3: 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 4: 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 5: 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) For personal use
Slide 6: 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 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 6
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: 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 Levels (TRL) scale used to assess the stage of technology / system development of the SILEX technology • Increasing focus on establishing
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 US 1, with sites in North Carolina and Kentucky Paducah Laser En
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 of SILEX Technology
GLE’s Indicative Target Timeline for Commercialisation of SILEX Technology1 Pre-2026 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 16: GLE's Commercialisation Activities for the SILEX technology
GLE’s Commercialisation Activities for the SILEX technology Paducah, KY, 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 For personal use only PGDP • S
Slide 17: GLE's Commercialisation Activities for the SILEX technology
GLE’s Commercialisation Activities for the SILEX technology Paducah, KY, commercial plant site and licensing activities1: For personal use only PLEF site, Paducah, KY 1. GLE’s progress to commercialisation is dependent on several factors, including, but not limited to: technology maturation outcomes
Slide 18: 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 a US domestic manufacturing base and supply chain: For personal use only GLE HQ and Classified Manufacturing Facility – Wilmington, NC www.silex.com.au 17
Slide 19: Summary – Status of GLE's Commercialisation Activities
Summary – Status of GLE’s Commercialisation Activities: GLE is focusing on technology maturation and early-stage activities for the planned PLEF commercial plant • GLE and Silex completed the large-scale pilot demonstration (TRL-6) in October 2025 – a key technology de-risking milestone Technology m
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 19
Slide 21: Significant Nuclear Power Growth Expected
Significant Nuclear Power Growth Expected World Nuclear Power Reactor Population • 438 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 22: 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) For personal use only China 58 (56,930 MWe) • Of 438 Operable Reactors Power France 57 (63,000 MWe) Worldwide – 94 in US (21%) Russia 36 (26,802
Slide 23: 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 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 S U Price US$ lb US$ kgU US$ S U $120 00 $120 00 $220 00 Russia- U O U O LT Russia- NA NA Russia- S U Spot S U LT Ukraine Spot Ukraine Conv Spot Conv LT $200 00 Ukraine invasion invasion invasion (Feb $100 00 $100
Slide 27: Additional Growth Opportunities for Silex
For personal use only Additional Growth Opportunities for Silex www.silex.com.au 26
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 Project for Quantum Computing
Silex Q-Si Production Project for Quantum Computing For personal use only Silex Q-Si Production Module – Lucas Heights, NSW www.silex.com.au 28
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 30
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 perpetual royalty flows under the SILEX uranium enrichment technology licence • GLE’s path to market is underpinned
Slide 33: Thank you
For personal use only Thank you www.silex.com.au 32
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