Nano Nuclear Energy Inc Q3 FY2025 earnings call

• NANO Nuclear continues to benefit from global nuclear renaissance and regulatory tailwinds. • Acquired KRONOS MMR microreactor in January 2025, positioning as a North American leader in microreactor commercialization. • Advanced KRONOS MMR towards construction, demonstration, licensing with the U.S. Nuclear Regulatory Commission and deployment at the University of Illinois Urbana-Champaign. • Signed strategic collaboration agreements, including with AECOM and UrAmerica. • Completed a $99 million private placement, strengthening the balance sheet and enabling acceleration of KRONOS development. • Added key personnel, advanced ALIP technology, and focused on vertical integration to address nuclear fuel supply chain bottlenecks.

No detailed financial performance by product segments provided in the transcript.

• Anticipate submission of a construction permit application for KRONOS MMR at the University of Illinois Urbana-Champaign toward the end of 2025 or early 2026. • Expect progress in vertical integration efforts to expand capabilities in stages of the nuclear fuel cycle. • Project construction permit approval to take 12-18 months, but believe it will be shorter than 18 months.

• Factors causing actual results to differ materially from forward-looking statements, as outlined in SEC filings. • Regulatory uncertainties in licensing processes in the U.S. and Canada. • Challenges in the nuclear fuel supply chain, including enrichment, transportation, and fabrication.

Q: Jeff Grampp asked about progress in Canada to license KRONOS MMR.

A: James Walker stated Canada is a major focus, with KRONOS having completed Phase 1 review, working on Phase 2 with the Canadian Nuclear Safety Commission, collaborating with the Canadian Nuclear Laboratory, and potential involvement of the Canadian government's Strategic Innovation Fund.

Q: Jeff Grampp asked about ALIP commercialization.

A: James Walker explained focus on completing SBIR Phase 3 with the DOE, potential sales to fission (advanced reactors) and fusion sectors, and discussions with space agencies.

Q: Sameer Joshi asked about cash usage and operating expenses ramp.

A: Jaisun Garcha mentioned a current projection of around $40 million cash burn over the next 12 months.

Q: Sameer Joshi asked about vertical integration targets.

A: James Walker said focus on upstream fuel cycle stages like mining, milling, conversion, and further involvement in enrichment, fabrication, etc.

Q: Subash Chandra asked about DOE advanced reactor pilot program and Radiant.

A: James Walker said NANO didn't apply for the program as it didn't fit the business model, and Radiant's reactor is smaller and not in market overlap.

Q: Subash Chandra asked about nuclear-grade graphite supply chain.

A: James Walker noted nuclear-grade graphite is sourced from 3 vendors, with the need to increase capacity, and supply chain is key for reactor success.