© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. FUSIONfor the FUTURE KYOTO FUSIONEERING CULTURE DECK

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 2 © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Contents Why do we need to work on it "now"? Opportunity to contribute to the humanity's challenges Work environment of Kyoto Fusioneering Why is fusion energy getting so much attention? 1 2 3 4

IEA. Licence: CC BY 4.0 We must reimburse our carbon debt © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 4 Fusion energy is the optimal solution for an energy rich and net zero emission world. “I would like nuclear fusion to become a practical power source. It would provide an inexhaustible supply of energy, without pollution or global warming.” Stephen William Hawking Physicist, Cosmologist Time Magazine, November 15, 2010

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 5 FUSION ENERGY The Sun on Earth Token of human intellect ＝ Inherently Safe No risk of runaway reactions and meltdowns. Abundant Primary Fuels Offers a virtually limitless source of energy. Minimal Waste No long-lived radioactive waste. Clean Does not produce greenhouse emissions.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. One helium is generated by fusion reaction of 4 hydrogen particles 6 Nuclei “fuse” together and become another atom In the Sun Hydrogen FUSION Helium What is nuclear fusion? 4H He

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 7 Source：reference to https://www.mext.go.jp/a_menu/shinkou/iter/019.htm, (Ministry of Education , Culture, Sports, Science and Technology Japan) Over 100 million℃ to generate plasma Continuous reaction Need to create artificially special environment on Earth Confinement of plasma in a high magnetic field

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 8 The Fundamental Difference Between Fusion and Fission Reactions The Difference Between Fusion and Fission Fusion Fission (nuclear power) • Fusing light atomic nuclei • Sustaining the reaction is challenging • Splitting heavy atomic nuclei into two • Once split, the reaction continues unless controlled Deuterium neutron (energy) Fusion Helium Tritium *In case of DT reaction neutron Uranium- 235 neutron neutron The products of fission Fission neutron (energy)

Public sector initiating Fusion Energy ITER under the international cooperation The US, the UK, and Japan kicking off their own projects Achievement of Lawrence Livermore National Laboratory: Produced more energy than input energy Fusion Energy is becoming a reality © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 10 2022 2021 2020 2019 2018 2017 2015 2013 2011 2009 2008 2006 2003 2002 1998 1992 Princeton Fusion Systems TAE Technologies General Fusion LPP Fusion, Inc. ENN Horne Technologies NK Labs, LLC Magneto-Internal Fusion Technology Inc. Tokamak Energy First Light Fusion Helion Energy CTFusion Inc. HB11 Energy HyperJet Fusion Corporation ZaP Energy Crossfield Fusion Ltd Marvel Fusion N.T. Tao Type One Energy Group Avalanche Energy Commonwealth Fusion Systems Compact Fusion Systems, Inc. HelicitySpace Corporation Electric Fusion Systems, inc. Renaissance Fusion Ex-Fusion Focused Energy Helical Fusion NearStar Fusion Inc. Deutelio Princeton Stellarators inc. Realta Fusion Xcimer Energy Inc. Google Chevron invested 1.2 Billion USD in total to TAE technologies Bill Gates invested 2 Billion USD to Commonwealth Fusion Systems The rise of private enterprises

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 11 Credit: Sam Wurzel (U.S. DoE - ARPA-E) $ (Billions) 2.5 2.0 1.5 1.0 0.5 0 Private Investments Department of Energy (DOE) FES ARPA-E funding Investments 3 year moving average Investments 5 year moving average The US: even more private investment than public funding

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 12 Startup companies boosting Fusion Energy market Reading Location of fusion startups around the world Source: The global fusion industry in 2023 Canada USA Seattle 1 25 Sweden UK France Israel Italy Germany 3 1 3 1 1 1 Australia New Zealand Japan Tokyo Kyoto 3 1 1 China 2 #

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 13 13 Startup companies boosting Fusion Energy market ＊ logos that we have obtained permission to use

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 14 No Company Nation Funding Amount Founded year staff Main investors 1 Commonwealth Fusion Systems US $2,000M+ 2018 300+ Bill Gates, Temasek, Khosla, Lowercarbon Cap, BEV, ENI 2 TAE Technologies US $1,000M+ 1998 400 Google, Venrock, Chevron, Sumitomo Corp, 3 Helion Energy US $578M 2013 90 Dustin Moskovitz(Asana), Capricorn 4 General Fusion Canada $300M 2002 210 Jeffrey Bezos, Temasek, GIC 5 Tokamak Energy UK $250M 2009 190 Hans-Peter Wild, Legal & General, Winton Ventures 6 Zap Energy US $200M 2017 60 Lower carbon Capital, Chevron, Shell, DCVC, BEV, Addition 7 First Light Fusion UK $107M 2011 70 Oxford, Tencent, Bravos Capital *As of December 31, 2022 More than $4 billion invested by only 5 companies

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 15 Contents Why do we need to work on it "now"? Opportunity to contribute to the humanity's challenges Work environment of Kyoto Fusioneering Why is fusion energy getting so much attention? 1 2 3 4 © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 16 Edison, a renowned inventor, brought many technologies to the world not only by developing them but also by developing and selling them such as electrical generators, telephones... Advertising the "World's Honda“, Soichiro Honda decided to penetrate the American market soon after the company's founding and tried his hand at business in the US, including the Super Cub. Following the invention of the IC in 1950, Japan’s high economic growth era led to the development of many products such as calculators, as well as the expansion of business around the world. Being at the center of the new technological industry

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 17 Boris Johnson Ten Point Plan for a Green Industrial Revolution(November 2020): “…aims to build the world’s first commercially viable fusion power plant in the UK by 2040” UK’s prototype fusion energy plant will be in Nottinghamshire, (October 2022) White House Fusion Summit Bold Decadal Vision for Commercial Fusion Energy(March 2022) Working with the private sector to accelerate the viability of commercial fusion energy National Academy of Sciences(February 2021): "Prior to Start of Construction: Conceptual and Preliminary Design (2021-2028), First Phase of Pilot Plant Operation (Completed by 2035-2040) " Fusion energy “commercialization” in the US and UK In November 2023: Joint Statement Between DOE and the UK Department for Energy Security and Net Zero Concerning a Strategic Partnership to Accelerate Fusion https://www.energy.gov/articles/joint-statement-between-doe-and-uk-department-energy-security-and-net-zero-concerning

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 18 US Initiates R&D Race Driven by Startups DOE Announces $46 Million for Commercial Fusion Energy Development The U.S. Department of Energy (DOE) announced $46 million in funding to eight companies advancing designs and research and development for fusion power plants, representing a major step in President Biden’s commitment to a pilot-scale demonstration of fusion within a decade. • Commonwealth Fusion Systems (Cambridge, MA) • Focused Energy Inc. (Austin, TX) • Princeton Stellarators Inc. (Branchburg, NJ) • Realta Fusion Inc. (Madison, WI) • Tokamak Energy Inc. (Bruceton Mills, WV) • Type One Energy Group (Madison, WI) • Xcimer Energy Inc. (Redwood City, CA) • Zap Energy Inc. (Everett, WA) 2023 May Within five to 10 years, the eight awardees will resolve scientific and technological challenges to create designs for a fusion pilot plant that will help bring fusion to both technical and commercial viability. https://www.energy.gov/articles/doe-announces-46-million-commercial-fusion-energy-development

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 19 Helion announces world’s first fusion energy purchase agreement with Microsoft *3 New facility aims to deliver at least 50 MW and begin producing electricity by 2028, dramatically shortening the projected timeline for commercially viable fusion energy. Overseas Startups Set Ambitious Goals 2023 May Commonwealth Fusion Systems Raises $1.8 Billion in Funding to Commercialize Fusion Energy*1 2025: SPARC achieves commercially relevant net energy from fusion Early 2030s: First fusion power plant, called ARC, is completed 2021 Dec TAE Technologies’ statement on US nuclear fusion advancement *2 TAE is currently constructing its sixth research reactor, Copernicus, and is on target to bring commercial fusion to the grid in the 2030s. 2022 Dec *1 https://cfs.energy/news-and-media/commonwealth-fusion-systems-closes-1-8-billion-series-b-round *2 https://tae.com/tae-technologies-statement-on-us-nuclear-fusion-advancement/ *3 https://www.helionenergy.com/articles/helion-announces-worlds-first-fusion-ppa-with-microsoft/

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 20 “Fusion Energy Innovation Strategy” in Japan https://www8.cao.go.jp/cstp/fusion/index.html Fusion Energy Innovation Strategy by The Integrated Innovation Strategy Promotion Council 2023 Apr • Seeing fusion energy as a new industry, Japan will not miss the opportunity to enter the burgeoning global fusion supply chain competition. • In addition to subsequent approach; the ITER Project/BA Activity, and DEMO development, Japan will accelerate the realization of fusion energy through a multifaceted approach such as commercialization. • Japan will establish Fusion Industry Council, support start- up and others’ R&D, hold discussions on safety regulations, strengthen its support to emerging technologies, develop educational programs, etc. Developing the Fusion industry [Visualization] • Early realization of DEMO by accelerated R&D • Clarification of targets with technology, market opportunity maps [Connections] • Matching of companies by establishment of Fusion Industry Council of Japan aiming at FY2023 [Fostering] • Greater support to private companies from FY2023 for reducing gap between industry needs and technology seeds possessed • Participation in discussion between like-minded countries on safety regulations and standardization • Formulation of basic ideas on ensuring safe Pursuing the “Industrialization” of Fusion Energy

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 21 Japan Accelerates Nationwide Efforts *1: ttps://jfusion.jp/ • The goal is to transform the global energy landscape by establishing a fusion energy industry and contributing to the future advancement of humanity through the provision of stable and clean energy. • This collaborative organisation brings together the industry, government and academia to build a fusion energy industry from Japan and promote it to the world. Kyoto Fusioneering serves as the chairman and Sumitomo Corporation and Helical Fusion holds the vice-chairman. • Participations include fusion-related companies and a diverse range of Japanese industries such as trade, insurance, construction, telecommunications and more. Japan Fusion Energy Council (J-Fusion) established*1 2024 Mar

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 22 Japan Accelerates Nationwide Efforts Joint Statement on Strategic Partnerships to Accelerate the Demonstration and Commercialisation of Fusion Energy. • Address the scientific and technical challenges and to share access and develop R&D facilities. • Promote international harmonization of the regulation of fusion reactors. • Supporting the development of resilient global supply chains, including collaboration with industry. • Promote skill development of the next generation of talent and encourage the exchange of researchers. Joint Statement between MEXT and DOE*1 2024 Apr *1: https://www.mext.go.jp/a_menu/shinkou/iter/1422811_00009.htm https://www.energy.gov/articles/joint-statement-between-doe-and-japan-ministry-education-sports-science-and-technology

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. It’s time to dive into the market and seize the opportunity to create a “fusion energy industry” 23 23 From a $3.5 billion market to a $655 billion industry

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 24 Contents Why do we need to work on it "now"? Opportunity to contribute to the humanity's challenges Work environment of Kyoto Fusioneering 2 3 4 Why is fusion energy getting so much attention? 1 © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 25 25 Establish the fusion industry and become an industrial leader based on Japan’s unique technological superiority. Mission Solving a global problem to deliver a new energy future for humankind The ultimate energy solution: fusion. Vision KF’s Mission & Vision

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 26 We promote industrialization of fusion energy by collaborating with all companies and research institutes aiming to achieving fusion reactors Plasma Core Plasma Periphery Companies Research Institutes As a partner of a fusion reactor development organization

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 27 To build a business model based on Japan’s strengths to be an enabler for all fusion players Our Business Model

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 28 Our strengths Gyrotrons capable of four frequency bands (104 / 137 / 170 / 236*GHz) *236GHz is currently under development Received orders from UKAEA and overseas start-up companies. Engaging in extensive cooperation with major Japanese technology and manufacturing companies for collaborative product development. Developing a combination of technologies that are expected to be applied not only to the fusion industry but also to other industries. Plasma Heating System Gyrotrons provide the heating necessary to sustain a plasma in magnetic confinement-type fusion power plants. Gyrotrons have long been the subject of research and development involving national research institutes and many engineers. Building on this technology, we are conducting R&D to improve performance and promote the global adoption of gyrotrons. Our R&D efforts include the development of higher frequencies and extended output duration ,ensuring their transition to industrial applications. As a private company, we prioritize excellence in product management and quality assurance, along with other aspects necessary for the successful implementation of gyrotrons.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 29 Our strengths Development of technologies and equipment to enable efficient tritium extraction from liquid breeder system. Design and development of plasma exhaust systems (including divertors, pumps, direct internal recycling system) and separation technologies (impurity gas removal, isotope separation system, etc.) to maintain continuous burning of fusion plasma through efficient tritium recovery. Optimization of fuel cycle systems and investigation of cost-competitive designs. Fuel Cycle System A key challenge in achieving stable operations of a fusion device is maintaining a continuous fuel supply. To address this, KF is advancing fuel cycle technologies, essential for circulating hydrogen isotope gases like deuterium and tritium, the primary fuels for most fusion reactions. These gases, heavier forms of hydrogen, are pivotal for achieving the high-energy output desired in fusion reactors. Our research, rooted in studies from Kyoto University and other prestigious institutions, aims to refine the processes of exhaust, separation, and circulation of these gases. In collaboration with Canadian Nuclear Laboratories (CNL), a leader in hydrogen management, we are undertaking the UNITY-2 project. This initiative focuses on enhancing the technological maturity of fuel cycle systems. CNL’s world-renowned facilities play a crucial role in this joint effort, bringing global expertise to the forefront of our research.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 30 Our strengths Development of advanced materials (e.g., SiC composites) with high heat resistance (up to 1000°C) and low activation. Design and development of advanced blankets with heat recovery and tritium breeding capabilities at high temperatures, as well as the design of liquid metal molten salt loops (LiPb, Li, FLiBe). Design and development of advanced heat exchangers and innovative power generation cycles using helium and other media. Exploration of hydrogen production using zero-carbon, high-temperature heat sources derived from fusion energy, and carbon fixation technology through the pyrolysis of biomass. Thermal Cycle System Extracting heat efficiently from a fusion core requires innovative materials and plant designs tailored to the unique demands of fusion energy. These include managing extreme conditions like intense neutron bombardment, powerful magnetic fields, and high temperatures. At KF, we’re committed to developing a comprehensive system that not only withstands these challenges but also achieves high thermal efficiency. Our proprietary materials and plant designs represent a leap forward in fusion technology. They are specifically engineered to handle the rigors of fusion energy production, setting new standards in durability and efficiency. This development is a crucial step towards realizing practical and sustainable fusion energy.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 31 Our strengths UNITY Suite KF is advancing the “UNITY (Unique Integrated Testing Facility)” Suite, a collection state-of-the-art facilities dedicated to advancing engineering technologies critical for fusion energy commercialization. The UNITY Suite includes two distinct yet interconnected facilities: UNITY-1: Being built at KF’s Kyoto Research Centre, UNITY-1 is dedicated to advancing the Thermal Cycle System. It simulates the high-temperature and magnetic conditions of a fusion plant to test various power generation systems. This includes innovative components such as a specialized “blanket” for efficient heat extraction, liquid metal loops, and advanced heat exchangers, all operating without radioactive materials. This facility is pivotal in harnessing and converting the immense energy generated by fusion reactions into electricity. The UNITY-1 demonstration facility will not create a fusion reaction, and will not use any radioactive materials. UNITY-2: To be situated at Chalk River Laboratories in Ontario and developed in strategic alliance with Canadian Nuclear Laboratories, UNITY-2 focuses on the complete deuterium-tritium fuel cycle. This facility is set to pioneer global standards in critical operations such as fuel exhaust, pumping, and tritium handling. UNITY-2’s test loop will play a crucial role in demonstrating safe and stable fuel supply processes for core plasma.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 32 Keishi Sakamoto Director, CTO Head of Technical Development Dept. Kiyoshi Seko Director, COO Head of Business Dept. Taka Nagao Co-founder & Chairman Satoshi Konishi Co-founder & CEO A strong team of business and technical members empowers the KF business ・ Kyoto University ・ ITER ・ Tokyo University ・ JAEA ・ Coral Capital ・ Mitsubishi Corporation ・ Tokyo University ・ Kyushu University ・ JAEA ・ QST Powerful tag of business and technical members Shutaro Takeda Co-founder & Chief Strategist ・ Kyoto University ・ Harvard University ・ IAEA Employees’ various backgrounds (over 100 people) ⚫ KPMG Consulting ⚫ BCG ⚫ Hitachi, Ltd. ⚫ Canon etc. ⚫ Yale University ⚫ Karlsruhe Institute of Technology ⚫ Los Alamos National Laboratory ⚫ Toshiba Richard Pearson Co-founder & Chief Innovator & UK Director ・ The Open University ・ Imperial College London ・ Arthur D. Little ・ ENERES ・ Kyoto University

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 33 Contents Why do we need to work on it "now"? Work environment of Kyoto Fusioneering 2 4 Why is fusion energy getting so much attention? 1 Opportunity to contribute to the humanity's challenges 3 © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 34 01 02 03 Synchronization of individual purpose and KF’s Mission/Vision Increase of work satisfaction and engagement We aim to establish a culture that we pursue our Mission/Vision in order to achieve corporate goals and to grow up individually! Win-Win Relationship! Mission Vision Purpose Company’s goal Mission/Vision achievement Individual goals

© 2023 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Over 120Staff *As of April 1, 2024 © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2023 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Over 120Staff *As of April 1, 2024 Approximately 60Tech Professionals Approximately total of 800years of fusion experiences *As of April 1, 2024 © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 37 37 KF is hiring staff for many different domains: Business, Engineering, Administration, etc. Active Members In Various Fields *As of October 1, 2023 Technical Department 48% Business Department 12% Corporate Headquarter 17% Corporate Design 12% Others 11% Headcount In KF

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 38 From legendary researchers to people from other industries, everyone is united in their passion. Scan it for more Getting together under “Fusion Energy” Business Development Electro Magnetic Plant Technology Electro Magnetic Working with colleagues who have something I don’t have makes me more willing to listen to them and to work hard for them. Each of us respects the other members and I think this leads to trust in each other. I was involved in the development of gyrotron for about the first 10 years of its history, and the issues that were raised at that time have now been resolved. I am deeply impressed by the reunion that I am now involved again in what Prof. Sakamoto and his team About 10 years after my first encounter with nuclear fusion, I’m now proud to be involved in activities to realize it with pioneers who have the technology and knowledge to make it a reality. I want to improve myself everyday to become an engineer like my mentor of my university. Yuto Yoshioka Vice President of Business Yosuke Hirata Head of Electro Magnetic Development Maki Okada Engineer Electro Magnetic Technology Division Dr. Colin Baus Vice President, Head of Plant Technology

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 【Work Style】 • Possibly work in Japan, the US, or the UK • Hybrid work (Remote or in office) • Possible to work in Japan by workation application 【Location】 • Tokyo: Head Office in Otemachi • Kyoto: Own R&D facility • UK: UK Reading office • US: US Seattle 【Benefits】 • Social insurance complete, health and welfare benefits, including paid holidays provided at the time of joining the company • Regular health check-ups and physical examinations • Welcome Lunch and monthly entertainment • Training allowance and qualification support • Referral allowance and Special work allowance • Stock option plan • Workcation system 39 *As of October 1, 2023 KF Work Environment

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 40 *As of April 1, 2024 Kyoto Fusioneering Ltd. Tokyo Office Otemachi Bldg. 5th Floor, 1-6-1 Otemachi, Chiyoda-ku, Tokyo, Japan 100-0004 Representative ‘s Name CEO Satoshi Konishi Establishment October 1, 2019 Locations Tokyo Office (Tokyo Otemachi, Japan) UK Office (Reading) US Office (Seattle) Research Institute (Kyoto, Hyogo, Japan) Joint Research Institute (Kyoto University Uji Campus, Kyoto, Japan) Total Funds 13.7 Billion Yen (April, 2024) Number of Employees 124 (Includes temporary staffing, outsourcing and subsidiaries) Shareholders *logos that we have obtained permission to use, in alphabetical order

© 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 41 We are hiring! https://kyotofusioneering.com/joinus Kyoto Fusioneering JOIN US © 2024 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED.