The two parallel discussions taking place at the same time and sort of, you know, very busy for Steve Whitcomb. But what do we get out of the Ukraine, Russia negotiations, if anything. Well, not much, to be honest.Neither side ended up briefing reporters after the discussions yesterday. But we did hear from U.S. envoy Steve Whitcomb that that dialogue was constructive, basically still on the major outstanding issues and specifically Moscow's territorial demands for land that it does not control. And Ukraine ...

Core Insights - The company is focusing on a vertically integrated nuclear fuel supply chain to address industry-wide bottlenecks in enrichment and conversion, which are seen as the main constraints to advanced reactor deployment [1] Group 1: Technology and Design - The KRONOS MMR design is based on a high Technology Readiness Level (TRL) foundation, leveraging decades of gas-cooled reactor history to reduce licensing risks and accelerate construction timelines compared to experimental designs [1] - The company is transitioning from 'paper reactor' design to actual physical execution, as demonstrated by the completion of site characterization at the University of Illinois and the preparation of formal NRC construction permit applications [1] Group 2: Market Strategy - Performance is being driven by a strategic shift towards 'behind-the-meter' and off-grid applications, specifically addressing the power gap created by AI data centers and industrial reshoring [1] - Strategic partnerships, such as the MOU with DS Dansuk in South Korea, aim to establish localized manufacturing hubs and facilitate entry into the high-demand Asian energy market [1] Group 3: Financial Position - A $400 million private placement in October 2025 has significantly extended the operational runway, enabling the company to pursue capital-intensive mergers and acquisitions in the fuel cycle without immediate funding pressure [1]

Core Viewpoint - A class action lawsuit has been filed against Fermi Inc. and its executives due to significant stock price drop attributed to potential violations of federal securities laws [1][3]. Company Overview - Fermi Inc. is an energy and AI infrastructure company focused on building large-scale nuclear reactors to support grid-independent data centers for AI workloads [4]. - The company's flagship project is Project Matador, designed to provide dedicated power for AI operations [4]. IPO and Allegations - Fermi completed its IPO in October 2025, claiming strong demand for Project Matador and securing a 20-year lease with an investment-grade-rated tenant [5]. - Allegations suggest that Fermi overstated tenant demand and misrepresented the agreement with the First Tenant [6]. Stock Performance - Following the announcement of the First Tenant's termination of the construction agreement on December 11, 2025, Fermi's stock dropped by $5.16, or over 33%, from $15.25 to $10.09 per share [7].

Financial Data and Key Metrics Changes - The company's cash and cash equivalents increased significantly to $577.5 million, a rise of approximately $374 million during the quarter, driven by net proceeds from a private placement [28] - The Q1 loss from operations was $11.6 million, with a year-over-year increase in operating expenses of about $8 million [28] - The net loss totaled $6.5 million, up approximately $3 million from the prior year, with interest income of about $5 million contributing to a lower net loss compared to operational losses [29] Business Line Data and Key Metrics Changes - The KRONOS MMR project is advancing towards licensing and construction, with site characterization and drilling completed at the University of Illinois [5][15] - A feasibility study agreement was signed with BaRupOn to evaluate the deployment of KRONOS MMR systems for up to 1 GW of power for their AI data center [7][17] - The company is expanding its pipeline of potential customers across data center, industrial, and military applications, reflecting growing interest in KRONOS [8][18] Market Data and Key Metrics Changes - The State of Illinois announced $6.8 million in incentive awards for the company, indicating growing support for advanced nuclear technology [7] - The company is exploring localization and manufacturing opportunities in South Korea through a partnership with DS Dansuk, a leading industrial enterprise [8][20] Company Strategy and Development Direction - The company focuses on vertical integration across the nuclear fuel supply chain to expedite reactor deployment and enhance long-term economics [4][5] - The strategic affiliate, LIS Technologies, is investing $1.38 billion to build a commercial enrichment facility in Tennessee, reinforcing the company's commitment to securing its nuclear fuel supply chain [9] - The company aims to submit a construction permit application to the NRC in the coming months, targeting initial construction at the University of Illinois by mid- to late 2027 [14][15] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for reliable baseload energy is increasing, driven by trends such as AI data centers and industrial reshoring [10][11] - The company views 2026 as a pivotal year with multiple potential catalysts for shareholder value creation, including regulatory licensing progress and commercial announcements [13][14] - Management emphasizes the importance of reliable, clean baseload energy as a strategic necessity, aligning the KRONOS MMR with national priorities and customer needs [12][13] Other Important Information - The company raised $400 million through a private placement, strengthening its balance sheet and extending its operational runway [9] - The company was added to the Morgan Stanley National Security Index, enhancing visibility among institutional investors [10] Q&A Session Summary Question: What milestones should be expected from the strategic alliance with DS Dansuk? - Management indicated that the partnership aims to address power bottlenecks in South Korea, with plans for local manufacturing facilities and increased engagement with government and industrial partners [33][34] Question: Will there be a strong EPC partnership in North America? - Management acknowledged the importance of EPC partnerships for mass manufacturing and deployment, with ongoing discussions with Ameresco and other contractors [37][38] Question: Is the construction permit submission on track for the first half of the year? - Management confirmed that the construction permit application is on track for submission in the first half of the year, emphasizing its significance in differentiating the company from competitors [40][42] Question: Can you elaborate on potential pathways to accelerate the 2030 timeline for the UIC project? - Management noted that government pressure on the NRC could expedite licensing timelines, but they prefer to maintain conservative estimates for project completion [46][47] Question: What options are being considered for the LOKI MMR reactor design? - Management explained that the LOKI reactor is being positioned for space power applications, with interest from organizations like NASA and Blue Origin, and they are seeking partnerships in the space industry [52][54] Question: What are the most challenging parts of the supply chain that need to be addressed? - Management highlighted nuclear-grade graphite and fuel supply as critical components with longer lead times, emphasizing the need for early engagement with suppliers [62][66]

Financial Data and Key Metrics Changes - The company's cash and cash equivalents increased significantly to $577.5 million, a rise of approximately $374 million during the quarter, driven by net proceeds from a private placement [28] - Q1 loss from operations was $11.6 million, with a year-over-year increase in operating expenses of about $8 million [28] - The net loss totaled $6.5 million, up approximately $3 million from the prior year, with interest income of about $5 million contributing to a lower net loss compared to operational losses [29] Business Line Data and Key Metrics Changes - The KRONOS MMR project continues to advance towards licensing and construction, with site characterization and drilling completed at the University of Illinois [5][6] - A feasibility study agreement was signed with BaRupOn to evaluate the deployment of KRONOS MMR systems for up to 1 GW of power [7][17] - The company is expanding its pipeline of potential customers across data center, industrial, and military applications, reflecting growing interest in KRONOS [8][18] Market Data and Key Metrics Changes - The State of Illinois announced $6.8 million in incentive awards for the company, indicating growing support for advanced nuclear technology [7] - The company is advancing discussions with numerous supply chain partners for key components and long lead items, as well as commercial enrichment providers [7][9] Company Strategy and Development Direction - The company focuses on vertical integration across the nuclear fuel supply chain to expedite reactor deployment and enhance long-term economics [4][5] - The strategic affiliate, LIS Technologies, is investing $1.38 billion to build a commercial enrichment facility in Tennessee, reinforcing the company's commitment to securing its nuclear fuel supply chain [9][26] - The company aims to submit a construction permit application to the NRC in the coming months, targeting initial construction at the University of Illinois by mid- to late 2027 [14][15] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for reliable baseload energy is growing, particularly for AI data centers and industrial applications, which will drive the need for solutions like KRONOS [10][11] - The company views 2026 as a pivotal year with multiple potential catalysts for shareholder value creation, including regulatory licensing progress and commercial announcements [13][14] - Management emphasizes the importance of addressing power availability and grid expansion challenges, positioning KRONOS as a solution to meet expected demand growth [12][13] Other Important Information - The company raised $400 million through a private placement, significantly strengthening its balance sheet and extending its operational runway [9] - The company was added to the Morgan Stanley National Security Index, enhancing visibility among institutional investors [10] Q&A Session Summary Question: What milestones should be expected from the strategic alliance with DS Dansuk? - Management indicated that the partnership aims to address power bottlenecks in South Korea, with plans for a centralized manufacturing facility and further engagement with local stakeholders [33][34] Question: Will there be a strong EPCM partnership in North America? - Management confirmed the importance of EPCM partnerships for coordinating local construction crews and deploying reactors effectively [37][38] Question: Is the construction permit application on track for the first half of the year? - Management affirmed that the application is on track and emphasized the significance of this milestone for the company's credibility in the market [40][42] Question: Can you elaborate on the potential pathways to expedite the 2030 timeline for the UIC project? - Management noted that government pressure on the NRC could expedite licensing timelines, but they prefer to maintain conservative estimates [46][49] Question: What options are being considered for the LOKI MMR reactor design? - Management explained that LOKI is being positioned for space power applications and is seeking partnerships with companies experienced in the space industry [52][54] Question: What are the most challenging parts of the supply chain that need to be addressed? - Management highlighted the need for nuclear-grade graphite and fuel supply as critical long lead items that require early engagement [62][66]

Financial Data and Key Metrics Changes - The company's cash and cash equivalents increased significantly to $577.5 million, a rise of approximately $374 million during the quarter, driven by net proceeds from a private placement [25][26] - Q1 loss from operations was $11.6 million, with a year-over-year increase in operating expenses of about $8 million [26] - The net loss totaled $6.5 million, up approximately $3 million from the prior year, with interest income of around $5 million contributing to a lower net loss compared to operational losses [27] Business Line Data and Key Metrics Changes - The KRONOS MMR project continues to advance towards licensing and construction, with site characterization and drilling completed at the University of Illinois [5][14] - A formal MOU was signed with the University of Illinois, detailing next steps for the KRONOS project [6][14] - The company signed a feasibility study agreement with BaRupOn to evaluate the deployment of KRONOS MMR systems for their AI data center, highlighting scalability potential [6][16] Market Data and Key Metrics Changes - The State of Illinois announced $6.8 million in incentive awards for advanced nuclear technology, indicating growing support for the sector [6] - The company is expanding its pipeline of potential customers across data centers, industrial, and military applications, reflecting increasing interest in KRONOS [7][17] Company Strategy and Development Direction - The company focuses on vertical integration across the nuclear fuel supply chain to expedite reactor deployment and enhance long-term economics [4][5] - The strategic affiliate, LIS Technologies, is investing $1.38 billion to build a commercial enrichment facility, reinforcing the company's commitment to securing its nuclear fuel supply chain [8][23] - The company aims to submit a construction permit application to the NRC in the coming months, targeting initial construction at the University of Illinois by mid- to late 2027 [12][14] Management's Comments on Operating Environment and Future Outlook - Management believes that the demand for reliable baseload energy will drive a global nuclear renaissance, supported by trends in AI data centers and energy sustainability [9][10] - The company views 2026 as a pivotal year with multiple potential catalysts for shareholder value creation, including regulatory licensing progress and commercial announcements [12][13] - Management emphasizes the importance of addressing supply chain challenges, particularly regarding nuclear-grade graphite and fuel supply, to ensure timely reactor deployment [60][62] Other Important Information - The company raised $400 million through a private placement, strengthening its balance sheet and operational runway [8] - NANO Nuclear was added to the Morgan Stanley National Security Index, enhancing visibility among institutional investors [9] Q&A Session Summary Question: What milestones should be expected from the strategic alliance with DS Dansuk? - The company is working on establishing a manufacturing facility in Korea and plans to advance the MOU into critical planning stages, with potential contracts for power agreements in the future [31][35] Question: Will there be a strong EPC partnership in North America? - The company is focusing on mass manufacturing and local construction coordination, with partnerships being explored with Ameresco and others for deployment [36][38] Question: Is the construction permit application on track for the first half of the year? - The application is on track, and the company plans to announce its submission, which is a significant differentiator in the market [39][40] Question: Can you elaborate on pathways to accelerate the 2030 timeline for the UIC project? - The company is considering government pressures to expedite licensing timelines and is focused on mass manufacturing capabilities to meet future demand [45][48] Question: What are the challenges in the supply chain that need to be addressed? - The company identifies nuclear-grade graphite and fuel supply as critical long lead items that require early engagement to mitigate risks [60][62] Question: What is the status of discussions regarding fuel supply and strategic opportunities? - The company is actively pursuing partnerships and acquisitions to secure fuel supply, with significant progress expected in the near future [70]

NANO Nuclear Q1 2026 Financial Results & Business Update Call February 17 t h 2026 © 2026 NANO Nuclear Energy, Inc. All rights reserved. Cautionary Note Regarding Forward -Looking Statements This presentation and statements of NANO Nuclear's management in connection with this presentation contain or may contain "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. In this context, forward-l ...

Company Performance - Nano Nuclear reported quarterly losses of 13 cents per share, which beat the consensus estimate for losses of 29 cents per share [1] - The company expects estimated cash expenditures of approximately $65 million over the next 12 months [1] Stock Movement - Nano Nuclear stock rose 1.03% to $25.49 in Tuesday's extended trading [1] Investment Options - Investors can purchase NNE stock through a brokerage platform or by buying an ETF that holds the stock [2] - An ETF will likely hold shares in many liquid and large companies within the Industrials sector, allowing investors to gain exposure to trends in that segment [3]

Core Viewpoint - NANO Nuclear Energy Inc. reported significant progress in its first fiscal quarter of 2026, focusing on the advancement of its KRONOS micro modular reactor system and strengthening its financial position to support future growth [2][3][12]. Financial Performance - As of December 31, 2025, NANO Nuclear had cash and cash equivalents of $577.5 million, a substantial increase from $203.3 million on September 30, 2025, due to a private placement that raised approximately $379 million [4]. - The company used $4.0 million in operating activities during the quarter, reflecting increased operations and R&D expenses [5]. - Investing activities accounted for $3.1 million, primarily for the new engineering facility in Oak Brook, Illinois [6]. - Financing activities provided $381.3 million in net cash during the quarter [7]. Business Developments - NANO Nuclear is advancing its KRONOS MMR system towards formal licensing and construction in the U.S. and Canada, with ongoing discussions with potential commercial customers and strategic partners [10][11]. - The company has made progress in securing its nuclear fuel supply chain, which is a key differentiator from competitors [10]. - A memorandum of understanding (MOU) was signed with the University of Illinois for the design and operation of a prototype KRONOS MMR system on campus [11]. Strategic Initiatives - The company is expanding its vertical integration efforts within the nuclear fuel supply chain, addressing key bottlenecks [10]. - NANO Nuclear has a growing pipeline of commercial opportunities, particularly in AI data centers and industrial applications, driven by the KRONOS MMR system's value proposition [12]. - The company is well-capitalized to execute its strategy, with strong support from institutional investors [12]. Future Outlook - 2026 is anticipated to be a pivotal year for NANO Nuclear, with several potential milestones and catalysts expected to enhance shareholder value [3][12]. - The company plans to submit a construction permit application to the NRC in the coming months, aiming to initiate the licensing process for its full-scale prototype [19].

Cameco-branded aerial view of a uranium mining and processing site, highlighting nuclear energy sector momentum. Key Points As investors continue to rotate out of tech, energy continues to dominate in early 2026 with a 21% YTD gain. While fossil fuels have recovered, nuclear energy is also fueling the rally as demand is forecast to double by 2040. After gaining 135% over the past year, analysts remain bullish on Cameco, with the stock receiving a consensus Buy rating. Interested in Cameco Corporation? ...