Culture Deck Company Introduction © 2026 KYOTO FUSIONEERING LTD. ALL RIGHTS RESERVED. Confidential | 1 

1 Why is fusion energy getting so much attention? 2 Why do we need to work on it now? 3 Opportunity to contribute to humanity's challenges Contents 4 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Kyoto Fusioneering’s work environment 2 

We must reimburse our carbon debt © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. IEA. Licence: CC BY 4.0 

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 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 4 

About Fusion Energy Fusion Is The Answer Abundant Primary Fuels Inherently Safe Offers a virtually limitless source of energy No risk of runaway reactions and meltdowns Fusion Energy The Sun on Earth Clean Minimal Waste Does not produce greenhouse emissions No long-lived radioactive waste © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 5 

What is fusion? Nuclei ‘fuse’ together and become another atom Hydrogen In the sun © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. FUSION Helium One helium atom is generated by fusion the reaction of 4 hydrogen particles 4H He 6 

Need to artificially create a special environment Over 100 million ℃ to generate plasma Confinement of plasma in a strong magnetic field Continuous reaction Source: Reference to https://www.mext.go.jp/a_menu/shinkou/iter/019.htm, (Ministry of Education , Culture, Sports, Science and Technology Japan) © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 7 

The difference between Fusion and Fission The fundamental difference between Fusion and Fission reactions Fusion Fission （ Nuclear Power） • Fusing light atomic nuclei • Splitting heavy atomic nuclei into two • Sustaining the reaction is challenging • Once split, the reaction continues unless controlled Neutron （ Energy） Deuterium Neutron（ Energy） Neutron Fusion Tritium Neutron Fission Helium The products of fission Uranium-235 *For of DT reaction © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 8 

Public sector initiation of Fusion Energy • ITER, under international cooperation • The US, UK and Japan kick off their own projects • Achievement of Lawrence Livermore National Laboratory: generating more energy output than energy input Fusion Energy is becoming a reality © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 

The rise of private enterprises CTFusion Inc. Electric Fusion Systems, inc. Renaissance Fusion Horne Technologies NK Labs, LLC TAE Technologies Bill Gates invested USD 2 billion in Commonwealth Fusion Systems First Light Fusion LPP Fusion, Inc. 1992 2002 1998 Deutelio Princeton Stellarators inc. Realta Fusion Xcimer Energy Inc. Avalanche Energy Commonwealth Fusion Systems Compact Fusion Systems, Inc. HelicitySpace Corporation 2006 2003 2009 2008 2013 2011 2017 2015 2019 2018 2021 2020 2022 Helion Energy Crossfield Fusion Ltd Marvel Fusion N.T. Tao Type One Energy Group General Fusion ENN Princeton Fusion Systems Magneto-Internal Fusion Technology Inc. Tokamak Energy Google Chevron invested total of USD 1.2 billion in TAE technologies Ex-Fusion Focused Energy Helical Fusion NearStar Fusion Inc. HB11 Energy HyperJet Fusion Corporation ZaP Energy © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 10 

The US: Private investment exceeds public funding USD (billions) 2.5 2.0 Private investments Department of Energy (DOE) FES ARPA-E funding Investments 3 year moving average Investments 5 year moving average 1.5 1.0 0.5 0 Credit: Sam Wurzel (U.S. DoE - ARPA-E) © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 11 

Startup companies boosting Fusion Energy market Culham Campus Sweden UK 1 Germany 3 France Karlsruhe 3 1 1 Italy Canada China Israel 1 Japan 3 USA 25 2 Ontario 1 Tokyo Seattle Kyoto Australia 1 New Zealand 1 # Location of fusion startups Source: The global fusion industry in 2023 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 12 

Startup companies boosting Fusion Energy market ＊ Permission obtained for use of logos © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 13 

More than USD 4 billion investment in 5 companies No Company Nation Funding amount Year founded Employees 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 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 14 

1 Why is fusion energy getting so much attention? 2 Why do we need to work on it now? 3 Opportunity to contribute to humanity's challenges Contents 4 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Kyoto Fusioneering’s work environment 15 

Being at the centre of a new technological industry Edison, a renowned inventor, brought many technologies to the world by not only developing but also selling them, for example as generators and telephones © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Advertising the ‘World's Honda’, Soichiro Honda decided to penetrate the American market soon after the company's founding. He 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. 16 

Fusion Energy ‘commercialisation’ in the US and UK 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) " 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 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 17 

US initiates R&D race driven by startups 2023 May DOE announces $46 million for commercial Fusion Energy development The U.S. Department of Energy (DOE) announced USD 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) • Tokamak Energy Inc. (Bruceton Mills, WV) • Focused Energy Inc. (Austin, TX) • Type One Energy Group (Madison, WI) • Princeton Stellarators Inc. (Branchburg, NJ) • Xcimer Energy Inc. (Redwood City, CA) • Realta Fusion Inc. (Madison, WI) • Zap Energy Inc. (Everett, WA) 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 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 18 

Overseas startups set ambitious goals 2021 Dec Commonwealth Fusion Systems raises USD 1.8 billion in funding to commercialise Fusion Energy*1 2025: SPARC aims to achieve commercially relevant net energy from fusion Early 2030s: First fusion power plant, called ARC, to be completed 2022 Dec TAE Technologies’ statement on US nuclear fusion advancement *2 2023 May Helion announces world’s first Fusion Energy purchase agreement with Microsoft *3 “TAE is currently constructing its sixth research reactor, Copernicus, and is on target to bring commercial fusion to the grid in the 2030s.” 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. *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/ © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 19 

‘Fusion Energy Innovation Strategy’ in Japan 2023 Apr • Fusion Energy Innovation Strategy by The Integrated Innovation Strategy Promotion Council 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 the ITER Project/BA Activities and DEMO reactor development, Japan will accelerate the realisation of Fusion Energy through a multifaceted approach such as commercialisation. • Japan will establish Fusion Industry Council, support startups and others’ R&D, hold discussions on safety regulations, strengthen its support of emerging technologies, develop educational programs, etc. © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Pursuing the Industrialisation of Fusion Energy Developing the Fusion industry [Visualisation] • Early realisation of DEMO reactor by accelerated R&D • Clarification of targets with technology, market opportunity maps [Connections] • Matching of companies through establishment of Fusion Industry Council of Japan aiming at FY2023 [Fostering] • Enhancing support to bridge the gap between technological innovations held by private companies and industrial demands from FY2023 • Participation in discussion between like-minded countries on safety regulations and standardisation • Formulation of basic ideas on ensuring safety https://www8.cao.go.jp/cstp/fusion/index.html 20 

Japan accelerates nationwide efforts 2024 Mar Japan Fusion Energy Council (J-Fusion) established*1 • 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 around the world. Kyoto Fusioneering serves as the Chair and Sumitomo Corporation and Helical Fusion hold the Vice-Chair positions. • Participants include fusion-related companies and a diverse range of Japanese industries such as trade, insurance, construction, telecommunications and more. *1: ttps://jfusion.jp/ © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 21 

Japan accelerates nationwide efforts 2024 Apr Joint statement between MEXT and DOE*1 Joint statement on strategic partnerships to accelerate the demonstration and commercialisation of Fusion Energy • Responding to scientific and technical challenges, and share and developing R&D facilities. • Promoting international harmonisation of the fusion reactor regulation. • Supporting the development of resilient global supply chains, including collaboration with industry. • Promoting skills development of the next generation of talent and encourage researcher exchanges. *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 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 22 

To a USD 900 billion industry It’s time to dive into the market and seize the opportunity to create a Fusion Energy industry © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 23 

1 Why is fusion energy getting so much attention? 2 Why do we need to work on it now? 3 Opportunity to contribute to humanity's challenges Contents 4 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Kyoto Fusioneering’s work environment 24 

Our Mission and Vision Mission We deliver engineering solutions to the fusion community to solve the most complex technical and engineering challenges. Vision Sustainability through fusion technology © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 25 

As a partner of a fusion development organisations We promote the industrialisation of Fusion Energy by collaborating with any company or research institute aiming to achieve working fusion reactors Plasma core Plasma periphery Companies Research institutes © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 26 

Our business model To build a business model based on Japan’s strengths to be an enabler for all fusion players Plasma Machine Tokamak / Stellarator Laser / Mirror / FRC, etc. © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 27 

Our strengths Gyrotron System Gyrotrons provide the heating system necessary to create and sustain a plasma state in magnetic confinement-type fusion reactor. Gyrotrons have been researched at national research institutes for many years. Building on this technology, we are researching and developing performance improvements and promoting their global adoption. Our R&D efforts include the development of higher frequencies and extended output duration, ensuring they are suitable for industrial use. As a private company, we prioritise excellence in product management and quality assurance, as well as many other aspects necessary for successful gyrotron. Gyrotrons capable of four frequency bands (104 / 137 / 170 / 236*GHz) (*236GHz is currently under development) Orders received from UKAEA and overseas startup companies. Extensive cooperation with major Japanese technology and manufacturing companies for collaborative product development. Developing a range of technologies that are expected to have applications in the fusion industry and other industries. © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 28 

Our strengths Fusion Fuel Cycle System A key challenge in achieving stable operations of a fusion device is maintaining a continuous fuel supply. To address this, we are advancing fusion fuel cycle technologies which are essential for circulating hydrogen isotope gases like deuterium and tritium, the primary fuels for most fusion reactions. These gases are heavier forms of hydrogen and 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 fusion 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. 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. Optimisation of fusion fuel cycle systems and investigation of cost-competitive designs. © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 29 

Our strengths Fusion Blanket and 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 realising practical and sustainable fusion energy. 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. © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 30 

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 commercialisation. The UNITY Suite includes two distinct yet interconnected facilities: UNITY-1: Being built at our Kyoto Research Centre, UNITY-1 is dedicated to advancing the Fusion Blanket and Thermal Cycle System. It simulates the hightemperature 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: Situated at Chalk River Laboratories in Ontario and developed by Fusion Fuel Cycles Inc, a joint venture 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. © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 31 

Powerful Business and Technical Teams Strong business and technical teams empower the KF business Dr. Satoshi Konishi Kiyoshi Seko Dr. Keishi Sakamoto Co-Founder, Representative Director , CEO Representative Director, President, COO He brings four decades of expertise in R&D, specializing in fusion technology, advanced nuclear system design, and tritium engineering, including significant contributions to the ITER project. He worked for Mitsubishi Corporation, where he was involved in business development and strategic investments, including the establishment of overseas JVs and cross-border M&As. He also worked for a leading VC firm in Japan and made several investments. Distinguished Fellow and Plasma Heating Group, Group-CTO Bibake Uppal Dr. Christian Day Dr. Colin Baus President of Kyoto Fusioneering America, SVP of Partnerships Head of Kyoto Fusioneering Europe, Plant Technology Group, Group-CTO He led multinational teams advising large-cap clients in Energy, Resources & Industrials and Food & Agriculture on M&A strategy and post-merger integration at Deloitte Consulting, and served as a corporate-communications strategist for a Canadian Crown corporation. He has spent decades in R&D for fusion fuel cycle technologies like vacuum pumping, tritium processing, and particle exhaust, most recently at the Karlsruhe Institute of Technology (KIT) in Germany. Head of Kyoto Fusioneering UK, Plant Technology Group, Head of Blanket Science Department © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. He was engaged in R&D for plasma heating technology for decades, most recently at QST in Japan. He received awards from MEXT in Japan and the European Physical Society Plasma Division (Innovation Prize). His Ph.D. was on heavy-ion cross sections and the link to astroparticle physics at the Large Hadron Collider at CERN (CMS experiment). As co-author of the hadronic interaction tool CRMC, he has deep knowledge in nuclear physics. 33 

1 Why is fusion energy getting so much attention? 2 Why do we need to work on it now? 3 Opportunity to contribute to humanity's challenges Contents 4 © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Kyoto Fusioneering’s work environment 34 

Win-Win Relationship! We’re committed to fostering a culture that embraces our company’s Mission and Vision, driving both organisational success and employee personal growth. Our aim? To create a workplace where everyone's purpose aligns, leading to greater job satisfaction. 01 Purpose 02 03 Mission Vision Synchronisation of individual purpose and KF’s Mission and Vision © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Individual goals Achievement of Company’s Mission and Vision Increased job satisfaction and engagement 35 

167 members *As of June 30, 2026 © 2026 2023 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 

Over 90167 Tech Professionals members *As of June 30, 2026 *As of June 30, 2026 © 2026 2023 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 

Getting together under ‘Fusion Energy’ Business Development and Operations Plasma Heating Working with people from diverse backgrounds across industry and research is highly inspiring. I aim to support the revitalisation of Japanese manufacturing through the industrialisation of fusion. Dr. Masatsugu Sakaguchi Dr. Yosuke Hirata Head of Strategy & Planning Department, Head of R&D Strategy & Management Department Head of R&D Department Plant Technology Plasma Heating Dr. Colin Baus We should not need to limit ourselves to a factor of 2 in global energy demand by 2100. With freely available clean fusion energy we can finally tackle power-hungry challenges such as waste removal, at-home fab, and supsersonic transport. Head of Kyoto Fusioneering UK, Head of Blanket Science Department © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. Maki Okada Engineer Plasma Heating Division 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 with 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 realise 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. From legendary researchers to people from diverse industries, everyone is united in their passion. Scan for more information 39 

Company information: Kyoto Fusioneering Ltd. Tokyo Office Representative’s Name Established Locations Distribution A Building, AW1-S, Tokyo Ryutsu Center, 6-1-1 Heiwajima, Ota-ku, Tokyo 143-0006, Japan Shareholders CEO: Satoshi Konishi President: Kiyoshi Seko October 1, 2019 Tokyo Office (Heiwajima, Ota-ku, Tokyo, Japan) UK Office (Culham) US Office (Seattle) EU Office (Karlsruhe) Research institutes (Kyoto & Hyogo, Japan) Joint research institute (Kyoto University Uji Campus, Kyoto, Japan) *logos that we have obtained permission to use, in alphabetical order Total Funding Number of members JPY 16.26 billion (September, 2025) 167 (including temporary staff, contractors and subsidiaries)* © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. *As of June 30, 2026 40 

We’re hiring! Kyoto Fusioneering JOIN US https://kyotofusioneering.com/open_positions © 2026 KYOTO FUSIONEERING Ltd. ALL RIGHTS RESERVED. 41