(“Terrestrial Energy” or “the Company”), a developer of small modular nuclear power plants using its

Generation IV reactor technology, today announced it has signed a manufacturing and supply

contract with Springelds Fuels Limited, a subsidiary of Westinghouse Electric Company

(“Westinghouse”), for the design and construction of an Integral Molten Salt Reactor (IMSR) fuel

pilot plant. The agreement serves as a signicant advancement of Terrestrial Energy’s fuel supply

chain capabilities in support of the Company’s accelerating commercialization pathway, with

construction set to begin in 2026.

The agreement, building on a contract signed in August 2023 for the planning and initial design of

IMSR fuel supply, leverages established deconversion and fuel manufacturing infrastructure at

Westinghouse’s Springelds nuclear fuel manufacturing site in Preston, United Kingdom, to

support Terrestrial Energy's IMSR deployment strategy. The expanded scope includes a wide range

of commercial-scale fuel services, such as deconversion, fabrication, packaging and transportation.

Upon completion of the pilot plant, the facility will be positioned to scale to commercial fuel

production for a future eet of IMSR Plants.

Terrestrial Energy’s IMSR plant uses next-generation molten salt reactor technology – a Generation

IV nuclear technology – to deliver high-temperature thermal energy. This energy supports highly

efcient steam turbine operation, low-cost electricity generation and direct thermal energy supply

for industrial use. Unique among North American Generation IV designs, the IMSR is fueled with

low-cost, readily available Standard Assay Low-Enriched Uranium (SALEU) fuel, uranium enriched

to under 5% uranium-235, allowing for critical alignment with Springelds nearly 80-year legacy as a

global leader in the supply of SALEU as uranium oxide fuel to commercial nuclear power reactors.

Terrestrial Energy’s use of SALEU, the only commercially available reactor fuel on the market today, for IMSR plant operation shields the Company from substantial supply challenges associated with

the use of High-Assay Low-Enriched Uranium fuel (HALEU), which have been exacerbated by

geopolitical tensions and the current lack of commercial-scale supply in the U.S. market. SALEU

supply chains are supported by well-established international transport protocols and decades of

regulatory acceptance, positioning Terrestrial Energy to pursue a practical and accelerated pathway

to early commercial IMSR plant deployment.

“This expanded partnership with Westinghouse at Springelds represents a strategic milestone in

Terrestrial Energy’s Western supply chain strategy as we continue to advance commercialization of

our Generation IV reactor technology,” said Simon Irish, CEO of Terrestrial Energy. “With our SALEU

fuel choice, we can maximize the use of existing nuclear industrial infrastructure at the Springelds

site for capital efciency. This collaboration enhances both our capital efciency and scalability as

we seek to meet the rapidly growing demand for clean, reliable, and exible energy supply.”

“We are delighted to continue our partnership with Terrestrial Energy to develop a next-generation

nuclear fuel at Springelds to power molten salt reactors,” said Tarik Choho, Westinghouse

President of Nuclear Fuel. “We have been working with Terrestrial Energy now for more than 4

years on this transformative initiative. This partnership brings together complementary strengths

and opportunities, accelerating innovation and delivering important impacts to our industry.”

A key innovation in the pilot plant design is a re-optimized chemical process to supply UF4

deconverted from UF6 at 5% enrichment. Today’s industry standard is the deconversion of UF6 at

5% enrichment supplied from enrichment plants to uranium oxide fuel. The process to deconvert to

UF4 is optimized with the pilot plant design enabling the large-scale fuel supply required for IMSR

eet deployment by leveraging Springelds’ existing commercial scale infrastructure.

Terrestrial Energy is working collaboratively with other organizations across the nuclear fuel supply

chain to establish multiple sources for IMSR fuel production and supply. These partnerships ensure

that the company’s advanced reactor technology is supported by a robust and secure fuel supply

infrastructure, critical to commercial IMSR deployment.

SALEU fuel is transportable using existing packages, for civilian reactor use, with a process that sits

within the existing regulatory and safety protocol that has been established across many markets

for the safety and secure transport of the nuclear fuel across international borders. These

characteristics present competitive advantages for Terrestrial Energy as the company pursues its

rst IMSR deployments at site in the United States including at Texas A&M’s RELLIS campus.



Today’s announcement follows a series of announcements underscoring the acceleration of

Terrestrial IMSR commercialization plans, most recently punctuated by the Company’s selection for

the U.S. Department of Energy (DOE) Ofce of Nuclear Energy’s Advanced Reactor Pilot Program,

as well as the U.S. DOE Ofce of Nuclear Energy’s Fuel Line Pilot Program. Together, these programs

provide a pathway to signicantly accelerate Terrestrial Energy’s IMSR commercialization.

About Terrestrial Energy

Terrestrial Energy is a developer of Generation IV nuclear plants that use its proprietary Integral

Molten Salt Reactor (IMSR). The IMSR captures the transformative operating benets of molten salt

reactor technology in a plant design that represents true innovation in capital efciency, cost

reduction, versatility and functionality of nuclear energy supply. IMSR plants are designed to be

small and modular for distributed supply of low-cost, reliable, dispatchable, clean, high-temperature

industrial heat and electricity, and to be customized for dual-use energy role relevant to many

industrial applications, such as petrochemical and chemical synthesis, and data center operation. In

so doing, IMSR plants extend the application of nuclear energy far beyond electric power markets.

Their deployment will support the rapid global decarbonization of the primary energy system

across a broad spectrum and increase its sustainability. Terrestrial Energy uses an innovative plant

design together with proven and demonstrated molten salt reactor technology and standard

nuclear fuel for a nuclear plant with a unique set of operating characteristics and compelling

transformative commercial potential. Terrestrial Energy is engaged with regulators, suppliers,

industrial partners and energy end-users to build, license and commission the rst IMSR plants in

the early 2030s.

Important Information for Shareholders

The statements contained in this press release that are not purely historical are forward-looking

statements. These forward-looking statements include, but are not limited to, statements regarding

our expectations, 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," "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 press release are based on our current

expectations and beliefs concerning future developments and their potential effects 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 this press release is

actually delivered 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 be materially

different from those expressed or implied by these forward-looking statements. Should one or more

of these risks or uncertainties materialize, or should any of our assumptions prove incorrect, actual

results may vary in material respects from those projected in these forward-looking statements.

Factors that may cause actual results to differ materially from current expectations include, but are

not limited to: (1) the outcome of any legal proceedings that may be instituted against the

Company or others following the announcement of the Business Combination; (2) the risk that the

Business Combination disrupts current plans and operations of the Company as a result of the

announcement and consummation of the Business Combination; (3) the ability to recognize the

anticipated benets of the Business Combination, which may be affected by, among other things,

competition, the ability of the combined company to grow and manage growth protably, maintain

relationships with customers and suppliers and retain its management and key employees; (4)

changes in applicable laws or regulations; (5) the possibility that the Company may be adversely

affected by other economic, business, and/or competitive factors; (6) changes in domestic and

foreign business, market, nancial, political conditions, and in applicable laws and regulations; (7)

the ability to meet stock exchange listing standards following the consummation of the Business

Combination; (8) the ability of the Company to build or maintain relationships with customers and

suppliers and retain its management and key employees; and (9) other risk factors described herein

as well as the risk factors and uncertainties described in documents led by the Company with the

U.S. Securities and Exchange Commission (the “SEC”), the sections entitled “Risk Factors” and

“Cautionary Note Regarding Forward-Looking Statements” and similar sections in its lings with

the SEC, including the Registration Statement relating to the Business Combination led by the

Company, and any periodic Exchange Act reports led with the SEC such as its Annual Reports on

Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. The recipient of this

press release should carefully consider the foregoing risk factors and the other risks and

uncertainties which will be more fully described in the documents led by the Company from time

to time with the SEC. If any of these risks materialize or the underlying assumptions prove incorrect,

actual results could differ materially from the results implied by these forward-looking statements.

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 communication 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.

In addition, the information contained in this press release is provided as of the date hereof and

may change, and the Company and its representatives and afliates specically 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 press release.

Terrestrial Energy Investor Center:

https://www.terrestrialenergy.com/investors

Terrestrial Energy Media & Investor Contact:TerrestrialEnergy@icrinc.com

A photo accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/157e44b2-3f0e-4506-ba2d-

0a90ccfe5450

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