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Second Quarter 2026 Earnings Call AUGUST 11 , 2026 TERRESTRIAL ENERGY TERRESTRIAL ENERGY
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2 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Disclaimer This presentation (this “Presentation”) has been prepared by Terrestrial Energy Inc. (the “Company”) solely for informational purposes. This Presentation is intended to provide a general overview of the Company and its business. This Presentation should not be construed as a prospectus or offering document and it should not be relied upon or used to form the definitive basis for any decision, contract, commitment or action whatsoever, with respect to any proposed transaction or otherwise. Any investment decision should be made based solely on the information contained in the Company’s filings with the Securities and Exchange Commission (the “SEC”), including the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form10-Q and Current Reports on Form 8-K, which identify risk factors that could cause actual results to differ materially from those contained in this Presentation. The Company’s SEC filings are available on the SEC’s website at www.sec.gov. This Presentation shall not constitute an offer to sell or the solicitation of an offer to buy, or a recommendation to buy, any securities of the Company, nor shall there be any sale of any securities of the Company in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Nothing in this Presentation shall create any legally binding obligations on the part of the Company or constitute legal, tax, investment, or financial advice. Certain information contained herein has been derived from sources prepared by third parties or the Company. While such information is believed to be reliable for the purposes used herein, none of the Company or their respective affiliates or representatives makes any representation or warranty with respect to the accuracy or completeness of such information. The information contained in the third-parties citations referenced in this Presentation is not incorporated by reference into this Presentation. The statements contained in this Presentation that are not purely historical are forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding our expectations, milestones, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements contained in this Presentation are based on our current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that we have anticipated. These forward-looking statements speak only as of the date of this Presentation and involve a number of risks, uncertainties (some of which are beyond our control) or other assumptions that may cause actual results or performance to differ materially from those expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) risks related to the development, manufacturing and construction of IMSR Plants and key components, including potential delays, cost overruns and contractor performance issues; (2) the Company’s ability to obtain applicable regulatory approvals and licenses on a timely basis or at all; (3) the ability of management to manage growth; (4) the possibility that the Company may be adversely affected by other economic, business, and/or competitive factors, including from alternative energy technologies, energy price volatility, and competition from other advanced reactor developers; (5) potential supply chain constraints and cost inflation for specialized nuclear-grade materials and components; (6) any failure to comply with the laws and regulations governing the use, transportation, and disposal of toxic, hazardous and/or radioactive materials; (7) changes in domestic and foreign business, market, financial and political conditions, and in applicable laws and regulations, including tariffs; (8) the ability to raise additional funding in the future; (9) the outcome of any legal proceedings that may be instituted against the Company; and (10) other risk factors described herein as well as the risk factors and uncertainties described in the documents filed by the Company from time to time with the “SEC.” The foregoing list of risk factors is not exhaustive. You should carefully consider the foregoing risk factors and the other risks and uncertainties described in the documents filed by the Company from time to time with the SEC. In addition, there may be additional risks that the Company presently knows, or that it currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this Presentation should be regarded as a representation or warranty, either express or implied, by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The information contained in this Presentation is provided as of the date hereof and may change, and the Company and its representatives and affiliates specifically disclaim any obligation to, and do not intend to, update or revise any forward-looking statements, whether as a result of new information, inaccuracies, future events or otherwise, except as may be required under applicable securities laws. Information contained on our website is not a part of or incorporated into this Presentation. The Company and its affiliates, officers, employees, and agents make no representation or warranty, express or implied, as to the accuracy, completeness, or reliability of the information contained in this Presentation and expressly disclaim any liability for any errors, omissions, or reliance on such information. This Presentation may contain references to trademarks, service marks, and trade names belonging to the Company or other entities. Solely for convenience, such trademarks, service marks, and trade names may appear in this Presentation without the ®, , or ℠ symbols, but such references are not intended to indicate, in any way, that the Company or applicable licensor will not assert, to the fullest extent under applicable law, its rights to these marks.
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3 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 2Q Highlights 3 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 2026
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4 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Three-Pillar Framework of Business Plan Execution: 2Q 2026 Progress Engineering & Regulation Commercial Pipeline for IMSR Plant • Ground and research leases signed for 77 acres at Texas A&M-RELLIS • Riot Platforms program targeting up to 4 GW; first-site down-select next • Pipeline capacity grows to 7.8 GW across three market verticals • NRC Issues Safety Evaluation Report (12 May) Approving Terrestrial Energy’s IMSR Postulated Initiating Events Topical Report • Projects TETRA & TEFLA advanced under DOE OTA agreements • Additional graphite irradiation cycles added at NRG Petten Supply Chain • Westinghouse supplying uranium tetrafluoride at standard enrichment • Procurement continues for TETRA and TEFLA fuel, components and services • Engineering services agreement with Zachry Group for RELLIS site characterization
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JULY 2026 Pamela Cowan appointed EVP of Engineering Kathryn McCarthy appointed to Board of Directors 2Q 2026 Executed MOU with Riot Platforms to co-locate IMSR Plants with hyperscale data centers, representing up to 4 GW of nuclear capacity 5 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 2Q 2026 and Recent Milestone Recap 2Q 2026 NRC accepts final submission of the IMSR Postulated Initiating Events methodology (PIE) Topical Report 2Q 2026 NRC approves IMSR PIE methodology Topical Report and issues Safety Evaluation Report JULY 2026 Signed Engineering Services Agreement with Zachry Group supporting IMSR Plant development at Texas A&M- RELLIS 2Q 2026 Signed ground lease and R&D agreements with The Texas A&M University System for ~77 acres at Texas A&M-RELLIS
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6 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. ~$2.7B 100%33%Cumulative Totals $477 17%26% Construction services & component supply Supply of services and components as set out in the Company’s Product Delivery Model for construction and commissioning of an IMSR Plant $1,578 58%33% Post-construction IMSR Core-unit supply Supply of replacement IMSR Core-units every seven years. Contracted ongoing O&M services to the power plants for the duration of operational life (50+ years) $583 21%40% Post construction IMSR fuel supply Supply of IMSR Fuel Salt for the ongoing operation of an IMSR Plant $98 4%23% Pre-construction services Site selection, site and use-specific engineering studies for construction and licensing planning preparation Cumulative revenue $M % of RevenueGross Margin %Segment Description Terrestrial Energy’s capital-light business model taps four revenue streams across the IMSR Plant’s 50+ year lifecycle and starts before construction Note: Unit economics reflect Terrestrial Energy management estimates at NCP status.
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7 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. $1.6T current SAM Total Serviceable Addressable Market (SAM) for IMSR Plants is expected to grow 64% to $2.3T by 2050 OECD industrial heat market ($1,200B) OECD electricity market ($1,100B) IMSR Plant’s Operating Advantages Serve Both Industrial Heat and Electricity Markets + Industrials require clean firm low-cost thermal energy at high-temperatures for manufacturing processes. This is beyond the capabilities of LWR nuclear plants and today it is almost universally supplied with fossil fuel combustion IMSR Plants have high-temperature thermal output, creating an alternative to fossil fuel combustion in many industrial processes. This also enables electricity generation at up to 50% higher efficiency than LWR nuclear plants for transformative economic improvement IMSR Plants have a 50+ year operating life, which is more competitive than coal- fired power generation fuel supply, inclusive of coal and transportation costs IMSR Plant heat and steam supply systems can be customized without requiring nuclear regulatory re- approval, to deliver a customized mix of high- temperature heat and low-cost electricity for industrial use IMSR Plant provides clean firm electric power for industry and municipal use. It is a logical solution for near- and co-located large data center supply and for coal plant replacement, two large markets IMSR Plant design is smaller to be right-sized for today’s deployment opportunity and modular in design for fast construction and decentralized generation at individual industrial sites, coal plant sites, data centers, for grids IMSR Plant output can rapidly load-follow (i.e., adjusts its output to demand) for hybrid installations integrating intermittent renewable generation to deliver clean firm power to grid IMSR Plants enable distributed generation as they are deployable at or near industrial site, including “behind the fence” for dedicated industrial heat and power supply High TemperatureFirm & Low-Cost 50+ Year Life Customized Modular Clean Load Following Deployable
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8 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. IMSR Fuel Salt Supply: One New Plant, Not Three The IMSR Fuel Salt production avoids step 3, physical-form fabrication, and starts with LEU from commercial plants that today supply LWR fuel A L L S O L I D FUE L RE A CTO RS ( L W R a n d G E N I V ) — THRE E S TE P S , THRE E P L A NTS I MS R FUE L — TW O S TE P S , O NE NE W P L A NT 1 Isotopic Form LEU used by existing nuclear plant, HALEU (15-20) used by almost all other Gen IV designs, or even plutonium Current plant today enriches uranium to 5% U-235 supplying as UF6 2 Chemical Form Conversion to oxide, fluoride or metallic form Existing plant today fabricates UO2 pellets from UF6 at standard enrichment (<5%) 3 Physical Form Complex, costly fabrication of fuel pin reactor assemblies or complex TRISO fuel elements Existing plant today fabricates fuel pin reactor assemblies containing UO2 pellets at standard enrichment (<5%) → → HALEU fuel use requires a new plant at each step, adds cost and uncertainty, and comes with a higher regulatory requirement that cascades into every downstream step 1 Isotopic Form LEU — the long-established civil reactor standard From plants operating at commercial scale today 2 Chemical Form UF4 at standard enrichment (<5%), supplied by Westinghouse, is blended with fluoride “carrier” salts to produce the IMSR Fuel Salt, a powder→ No step three As the IMSR is a liquid-fuel reactor, its fuel has no physical form ~40% fuel gross margin, contributing to 33% blended economics One new plant — Project TEFLA, catalyzed by DOE partnership LEU below 5% U-235 The civil reactor standard — supply chain at scale today, no HALEU (15-20) dependency One Plant, Not Three The complex, costly fabrication step is eliminated entirely Westinghouse Collaboration on supply of enriched UF4
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9 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Uranium-235 enrichment level Cost Typical use case Regulatory requirements Key suppliers for fleet deployment 15-20% U-235 $32,600 / kgU2 Most other Gen IV reactors today require HALEU at 15-20% U-235 Complex and uncertain (many regulatory protocols such as waste disposal and transport not yet developed) US production insignificant compared to required quantities. Existing enrichment facilities cannot be modified to produce HALEU (15-20%), entirely new facilities with higher Class 2 security3 will require years to establish at high cost. High-Assay Low-Enriched Uranium HALEU (15-20) Low-Enriched Uranium LEU1 <5% U-235 $2,700 / kgU2 Terrestrial Energy IMSR (Gen IV), Gen II/III/III+ (light-water reactors) Known and straightforward (both production and transportation) Centrus (US) Framatome (US) Global Nuclear Fuel (US) Westinghouse (US) / Springfields (UK) Orano (Europe) Urenco (Europe) IMSR uses readily available and inexpensive low-enriched uranium (LEU) in its fuel 1. Also referred to as “SALEU” or standard assay low enriched uranium, which contains less than 5% U-235 2. Norman et al. “How Much Does it Cost to Develop New Nuclear Fuel Capacity.” Third Way, 28 June 2023, https://www.thirdway.org/blog/how-much-does-it-cost-to-develop-new-nuclear-fuel-capacity. 3. “Physical Security Requirements for Facilities with Category II Quantities of Special Nuclear Material Informational Sheet.” NRC, https://www.nrc.gov/docs/ML2117/ML21172A282.pdf.
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10 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. IMSR Plant is designed for fast delivery of energy solutions to industry Separation of nuclear from thermal and electrical systems allows: • Allows end-user flexibility to customize thermal and electricity supply • Provides an attractive pathway for coal plant conversion • Allows for hybridization with other energy systems, including natural gas and renewables, facilitating the delivery of electric power within five years. A Standardized IMSR Nuclear Facility • Subject to nuclear regulation • Standardized, simplified design reduces costs • 822 MW (net) thermal energy production from twin IMSRs B Customized non-nuclear Thermal and Electric Facility (TEF) • Converts thermal energy to 585°C 822 MW (net) thermal or 390 MW (net) electric power for commercial supply – or any heat/electric power mix in between • Steam turbines operate at ~50% greater efficiency than in a plant employing LWRs • Separate Nuclear Facility & non-nuclear Thermal and Electric Facility (TEF) enables the potential to integrate natural gas as a bridge to rapid commercial operation and use as back-up during nuclear systems’ operation C Near and co-located generation • Data centers • Chemical and petrochemical plant • Other industrials requiring clean firm heat & power Prospective off-takers • Electric grid, from coal conversion A HEAT POWER Conversion loss HEAT 585°C Principal flow of energy 822 MWt (thermal) 390 MWe (electrical) 585°C Dual IMSR Nuclear Facility A End-user heat / power (industry / grid electric power) C IMSR Non-nuclear Thermal and Electric Facility (TEF) B Note: Example is for a dual reactor IMSR Plant. Scaling up is possible. Source: Company internal view
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11 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Terrestrial Energy IMSR Gen IV Molten Salt Reactor (MSR) Gen IV High Temperature Gas Reactor (HTGR) Best-in-class SMR capital efficiency: • ~585 ˚C operational temperature, delivers ~44% (net) thermal efficiency • Low-pressure operation easing design requirements, lowering manufacturing costs • High inherent safety • High power density captures best practices in modular design for fast construction and economic performance Lower Supply Chain Risk: • Uses Standard fuel – LEU (<5% enrichment) • Fuel widely available, no exotic fuel suppliers and bottlenecks to fleet scale, no single point of failure in the supply chain Lower capital efficiency due to: • Expensive high-pressure helium cooling systems with inefficient heat transfer limits thermal efficiency to <40% (net) • Large pressure vessels and oversized containment systems limits use of modularity in design • Comparatively low power-density results in larger reactor components and poor modularity capabilities Constrained Supply Chain: • Requires TRISO with HALEU (15-20% enrichment) • Nascent supply chain. Limited qualified vendors. Constrained production capacity Terrestrial Energy’s IMSR Plant addresses the weaknesses and limitations of LWR technology with best- in-class Gen IV reactor technology While Gen IV reactors are defined by international accord as having capabilities to outperform Gen III reactors (LWRs), MSRs have the potential to outperform in the Gen IV class from the unique “triple operating advantage” of high-temperature and low-pressure operation with high inherent safety. Terrestrial Energy has captured this triple operating advantage to deliver the most capital efficient SMR in its sector and with its use of LEU the most deployable at scale. Favorable Regulatory Positioning: • Full review by CNSC, a first for a Gen IV SMR • Two NRC topical reports approved No previous licensing for HTGR: • Mixed commercial Opex Gen IV Sodium Fast Reactor (SFR) Lower capital efficiency due to: • Low pressure but lower temperature operation reduces efficiency to <40% (net) • Complexities of safe fast reactor operation and management of 1000’s of tonnes of hot liquid sodium drive costs • Comparatively low power-density results in larger reactor components and poor modularity capabilities Constrained Supply Chain: • Requires HALEU (15-20% enrichment) fuel at commercial scale, subject to material bottlenecks and geopolitical risk Mixed regulatory history: • Mixed safety and commercial Opex
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12 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. $69 $142 – $2221 IMSR Technology Fundamentals Drive Down the LCOE – Illustrative High temperature leads directly to increased thermal and capital efficiency, and lower LCOE Low pressure systems are more robust and less complex than high-pressure systems Inherent safety uses the natural properties of the system itself and not complex active mechanisms using control rods, pumps, valves, and actuators Smaller leads directly to losses of economies of unit-scale driving LCOE higher Modularity expected to produce gains from economies of serial production driving LCOE lower but extent of this is uncertain Large Scale Legacy Nuclear LCOE "Smaller" right- sized plant Modular construction with volume production High temperature Low pressure Inherent Safety IMSR LCOE2 1. “Levelized Cost of Energy+.” Lazard, June 2024, https://www.lazard.com/media/xemfey0k/lazards-lcoeplus-june-2024-_vf.pdf. 2. IMSR LCOE is Terrestrial Energy’s internal estimate at NCP status.
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13 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 13 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Most capital-efficient SMR Proprietary Gen IV IMSR technology incorporating tested and demonstrated DOE molten salt technology, fueled with LEU for fast deployment at scale $2.3T SAM expected by 2050 Data center power, industrial heat, and coal replacement across OECD markets — with early-mover advantage in each vertical Capital-light, high-margin revenue model beginning before construction Speed-to-market in 2030s at fleet scale, with per-plant revenue beginning at site development and recurring across a 50+ year operating life Plant, supplier and regulatory milestones Track record of design, supply chain and regulatory developments delivering multiple consequential milestones Compelling demand tailwinds AI data center growth, grid reliability, and energy security are driving secular changes and unprecedented demand for clean firm power and SMR innovation
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14 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Strengthening the Team: New Leadership Additions • 30+ years in nuclear industry; executive roles at Westinghouse spanning Americas operating plant services, global engineered products and outage field services • SVP at Holtec International and COO of a principal Holtec business, leading operations and the integration of acquired nuclear plant assets • Earlier leadership roles at Exelon Generation (Constellation), American Electric Power and PSEG • Based at Charlotte headquarters, reporting to the CEO • Career in major projects and nuclear technology development at Idaho National Laboratory and Oak Ridge National Laboratory • Most recently Associate Laboratory Director, Fusion and Fission Energy and Science at Oak Ridge National Laboratory • Currently responsible for the overall management of the United States’ participation in ITER, the international and benchmark fusion reactor project in France • Member, National Academy of Engineering; Fellow, American Nuclear Society Pamela Cowan EVP, Engineering, appointed July 2026 Kathy McCarthy Board of Directors, appointed July 2026
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15 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 15Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. 2Q Financial Highlights 2026
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2Q 2026 Financial Results 16 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. $9.4M Net Loss for 2Q2026, $1.1M Decrease vs. 1Q 2026 The decrease is attributable to: • $1.1M decrease in R&D • $0.7M increase in G&A • $0.9M increase in Other Income 1 $283.4M Cash, Cash Equivalents and Investments as of June 30, 2026 As of June 30, 2026: • $130.7M cash, $142.8M short- term and $9.9M long-term investments • Compares to $289.9M at the end of 1Q 2026 • Total liabilities of $8.2M and no debt • Balance sheet simple and clean 3 105.9M Issued and Outstanding Shares As of June 30, 2026: • 82.7M Common and 23.2M Exchangeable shares, flat to 1Q 2026 • 149.2M fully diluted shares, up 0.3M on option grants • Exchangeable shares convert one-for-one into Common at any time at holders' election 4 $6.4M Cash Burn for 2Q2026, $1.5M Decrease vs. 1Q 2026 $14.8M of cash used in operations in 1H 2026: • $19.9M net loss, less $5.8M of non-cash items (stock-based compensation, D&A, leases) • $0.7M of working capital changes and lease payments • 2Q cash burn averaged $2.2M/month vs. $2.6M/month in 1Q, due to graphite test cycle timing 2
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17 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. June 30, 2026 Capitalization Summary (shares in millions) % of Total 78% 10% 11% 8% 41% 141% 22% 100% 12% 1 - Long- term incentive program is reported net of 6.1M call options 2 - Fully diluted shares exclude the potential impact of contingent shares issuable in conjunction with the legacy convertible notes. 82.7 23.2 105.9 13.0 10.7 11.5 8.1 43.3 149.2 Common shares Exchangeable shares Total shares issued and outstanding Long term incentive program, net Private warrants July 2028 Public warrants October 2030 Private warrants October 2030 Total dilutive shares Fully diluted shares 1 2
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18 Terrestrial Energy Inc. Proprietary Information - All Intellectual Property Rights Reserved. Glossary Term Definition Base load The minimum amount of electric power delivered or required over a given time period at a steady rate. Core-unit The term to denote the vessel that contains the primary components of the IMSR, the reactor core, heat exchangers, pumps, etc . DOE and LPO The United States Department of Energy, and its affiliated Loan Programs Office, which provides loan guarantees to assist in financing energy infrastructure projects. FCP/NCP An engineering concept referring to First Commercial Plant and Nth Commercial Plant, reflecting the reduction in price as pro cesses mature and companies proceed along the learning curve. Terrestrial Energy’s unit economics are based on NCP estimates, projected to be achieved at the 20th IMSR Plant. Full lifecycle The full lifespan of a specific plant, including pre-construction, construction, operations, and decommissioning. Gen IV Generation IV nuclear technology, which improves upon Generation III+ technologies (current reactors) through two important i mprovements: 1) ability to generate high-temperature heat (>400 °C) appropriate for use in industrial applications, and 2) high inherent safety incorporated into the design, versus active and passive safety system s of previous generations. Generation IV technology governed by the Generation IV International Forum, an intergovernmental forum representing 40 countries. HALEU (15 -20) HALEU (15 – 20) stands for “High-Assay Low Enriched Uranium” enriched to 15 -20% (>15% is required for several other Gen IV nuclear technology) LEU aka SALEU LEU stands for “Low Enriched Uranium,” it is also referred to as “SALEU” or standard assay low enriched uranium, which is U -235 which has been enriched to <5%. Currently, SALEU is readily commercially available from North American and Western European suppliers. Inherent safety A proactive approach to process safety in which hazards are eliminated or lessened to reduce risk without engineered or proce dural intervention. A nuclear reactor with high inherent safety may rely upon natural phenomena such as natural circulation or negative feedback power coefficients to achieve a safe state as opposed to older plants that u se active safety (e.g. pumps, actuators, valves) to manage risk. kWe/MWe vs. kWth/MWth The distinction between power being generated for electricity (“e”) versus for thermal/heat (“ th”). Generating electricity is a direct function of the thermal efficiency of the plant. In the IMSR’s case, the plant generat es 822 MWth or 390 MWe. kWh/MWh Kilowatt-hour / megawatt-hour, or the production of that amount of energy for an hour. LCOE Levelized cost of electricity. A measure of the all-in cost of electricity generation to the owner/operator over the life cycle of the plant, including upfront CAPEX, ongoing OPEX, etc. LWR aka Legacy nuclear Nuclear reactor technologies used in the market today, such as Boiling Water Reactors and Pressurized Water Reactors. They ar e classified as “Generation III+” or below. Load-following A power plant that can adjust its power output on demand. TEFLA Terrestrial Energy Fuel Line Assembly TETRA Terrestrial Energy Test Reactor Assembly U.S. NRC / CNSC United States Nuclear Regulatory Commission and Canadian Nuclear Safety Commission, respectively, government agencies of thei r respective countries tasked with regulating civilian uses of nuclear energy. OECD Organisation of Economic Co-operation and Development, a multilateral organization of 38 member countries, the majority of which are high -income economies. Utilization factor A measure of “uptime” for a facility, which reflects total operating time less planned and unplanned downtime for maintenance , etc. Utilization factors of 90-95% are typical for nuclear power plants. VDR Vendor Design Review. A voluntary high-level review process offered by the CNSC to provide pre-licensing feedback regarding the extent to which the reactor design meets CNSC requirements.