Lightbridge Corporation

Thank you for standing by, and welcome to the Lightbridge Corporation Business Update and Fiscal Year 2025 Conference Call. Please note that today's call is being recorded. It is now my pleasure to introduce Matthew Abinanti, Director of Investor Relations for Lightbridge Corporation.

Thank you, Carmen, and thanks to all of you for joining us today. Our earnings press release was distributed yesterday and is available on the investor relations page of the LifeBridge website at www.ltbridge.com. Joining us on the call today is Seth Gray, Chief Executive Officer, along with Andrei Mushikov, Executive Vice President for Nuclear Operations, Scott Holcomb, Vice President of Engineering, and Larry Goldman, Chief Financial Officer. I want to remind our listeners that any statements on this call that are not historical facts are forward-looking statements. Today's presentation includes forward-looking statements about the company's competitive position and product and service offerings. During today's call, words such as expect, anticipate, believe, and intend will be used in our discussion of future goals and events. This presentation is based on current expectations and involves certain risks and uncertainties that may cause actual results to differ significantly from such estimates. These and other risks are set forth in more detail in Lightbridge's filings with the Securities and Exchange Commission. Lightbridge does not assume any obligation to update or revise any such forward-looking statement, whether as a result of new developments or otherwise. And with that, I would like to turn the call over to our first speaker, Seth Gray, Chief Executive Officer of Lightbridge. Hello, Seth.

Hi, Matt, and thank you all for joining us to discuss Lightbridge's business update. 2025 was a transformative year for Lightbridge. I believe we'll be remembered as the year the company shifted into a high gear on execution across multiple critical fronts. We achieved major fuel development milestones while strengthening our balance sheets, and advancing key strategic partnerships that position us well to successfully commercialize our advanced nuclear fuel. In a major achievement, we began irradiation testing of enriched uranium zirconium alloy fuel material samples. After years of meticulous design, engineering, and manufacturing to meet the necessary nuclear quality assurance standards, These samples are now being irradiated in the advanced test reactor at Idaho National Laboratory. This test program is a pivotal step in demonstrating LightBridge Fuel's uranium-zirconium alloy material performance, generating data to help us validate key thermo-mechanical properties of our target fuel alloy. In 2025, we signed a memorandum of understanding and made a subsequent joint announcement with Oklo Inc. to explore potential collaboration opportunities, including on used fuel recycling and reprocessing. I'll have more to say about the broader nuclear energy landscape and Lightbridge's position within it later in the call. But first, let me turn it over to Andrei Lushakov, Executive VP for Nuclear Operations, to walk you through the significant technical accomplishments we've achieved in 2025. Andre?