LIGHTBRIDGE Corp Q2 FY2024 earnings call

• Lightbridge has made progress on fuel development, with a landmark achievement at Idaho National Laboratory in extruding an unclad cylindrical rod sample of Lightbridge Fuel material. • Collaborations include 2 DOE Nuclear Energy University program studies at MIT and Texas A&M University, and work with RATEN ICN in Romania on a comprehensive engineering study for CANDU reactors. • Expanded and strengthened the fuel development team with hiring of additional R&D personnel to support modeling, simulation, and testing. • Road map to commercial deployment includes irradiation of nuclear material samples, post-irradiation exams, thermal hydraulic experiments, and out-of-reactor tests, followed by regulatory approval after lead test assemblies are demonstrated in commercial reactors

There is no detailed breakdown of product segments with revenue percentages provided in the transcript. Financials mentioned include net loss of $2.4 million for Q2 2024 compared to $1.7 million in Q2 2023, R&D expenses increased to $0.9 million in Q2 2024 from $0.4 million in Q2 2023, G&A expenses at $1.8 million in Q2 2024 vs $1.6 million in Q2 2023, cash and cash equivalents at $27.1 million as of June 30, 2024

• Anticipate fuel development milestones over next 12-18 months: continue work at INL leading to casting/extrusion of enriched uranium samples for irradiation testing, complete feasibility study for CANDU heavy-water reactors, and complete front-end engineering and design study for Lightbridge Pilot Fuel Fabrication Facility with Centrus Energy. • The ADVANCE Act is seen as a game changer to streamline NRC review process for advanced nuclear fuels, potentially saving time on licensing permits

• Statements on the call include forward-looking statements which may differ from actual results due to certain risks and uncertainties. These risks are detailed in Lightbridge's filings with the SEC and the company does not assume obligation to update forward-looking statements

Q: Can you provide an update on upcoming milestones over the next 12 to 18 months, such as fuel material samples testing in the reactor?

A: As discussed in the 10-Q, anticipate continuing strategic partnering project work at INL leading to casting and extrusion of unclad fuel material samples using enriched uranium and their insertion for irradiation testing, completing a feasibility study for CANDU heavy-water reactors, and completing a front-end engineering and design study for Lightbridge Pilot Fuel Fabrication Facility with Centrus Energy Q: Regarding the recent ADVANCE Act legislation, how much time could that save on licensing permits, red tape being held up?

A: Pleased with ADVANCE Act passage, which directs NRC to assess preparedness to review and qualify high-assay, low-enriched uranium fuels; believes NRC can streamline review process and ADVANCE Act shows Congress prioritizes faster licensing