Nano Nuclear Energy Inc Q4 FY2025 earnings call

• Jay Yu discussed major trends in the advanced nuclear market including growing demand for baseload power, energy sustainability, and policy support for nuclear energy. NANO made progress in 2025 with KRONOS MMR development, collaborations like with University of Illinois, regulatory milestones, and corporate milestones such as acquisitions and team expansions. • James Walker outlined microreactors' value proposition vs traditional nuclear and SMRs, highlighting modularity, passive safety, and ability to co-locate. Discussed KRONOS MMR's technology, design versatility, safety profile, and strategic partners including University of Illinois, Hatch, and PCL. • Jaisun Garcha provided financial highlights: ended fiscal 2025 with $203.3 million in cash, operating loss of $46.2 million, net loss of $40.1 million, and discussed strong cash position and access to capital markets for executing strategies.

No detailed breakdown of product segments with revenue contributions provided in the transcript.

• Jay Yu stated the team will continue executing the strategy. • James Walker mentioned on track to submit construction permit application for U of I project in Q1 2026 and expects NRC turnaround to be substantially below 15 months. • Jaisun Garcha noted strong cash position and access to capital markets allow acceleration of KRONOS MMR advancement and pursuit of strategic partnerships and M&A.

• Forward-looking statements are subject to significant risks, uncertainties, and contingencies beyond NANO's control, as outlined in SEC filings. Factors include those in NANO's Form 10-K and other filings which could cause actual results to differ materially from forward-looking statements.

Q: Jeff Grampp asked about the timeline for filing the construction permit application at U of I, NRC turnaround, and accelerating the timeline.

A: James Walker responded that they are on track to submit in Q1 2026, expects NRC turnaround to be much less than 15 months due to well-known technology, and emphasized getting the application in sooner and working closely with NRC to expedite.

Q: Jeff Grampp followed up on vertical integration strategy, objectives in 2026, and bias towards internal development vs acquisition.

A: James Walker discussed internal capabilities for reactor components, focus on fuel supply chain including enrichment and conversion, and expected developments in conversion side in 2026.

Q: Sameer Joshi asked about progress in Canada with CNSC and 2026 plans.

A: James Walker said Canada is a key prospect, expect site announcement in first half 2026, will inherit previous licensing progress, and anticipate government support.

Q: Sameer Joshi asked about AFWERX Direct to Phase 2 project in U.S.

A: James Walker explained the project relates to military self-sufficiency in power, Phase 1 is ongoing, with long-term potential for military base deployments.

Q: Subhasish Chandra asked about states delegated authority over nuclear activities and Illinois.

A: James Walker discussed states potentially licensing certain facilities to take work off NRC's plate, expediting timelines, and good relationship with NRC but opportunities at state level.

Q: Subhasish Chandra asked about test reactor at UIUC vs commercial reactor.

A: James Walker said UIUC reactor is full-scale, same dimensions as commercial, with potential optimization for higher power in commercial reactors.