Www.nukem.decopyright by NUKEM GmbHNUKEM Company May 11Page 1 NUKEM Group Presentation Alzenau, May...

www.nukem.decopyright by NUKEM GmbHNUKEM Company May 11 Page 1

NUKEM Group Presentation

Alzenau, May 2011


NUKEM Group at a GlanceOver 50 Years Experience in the Nuclear Sector

Headquarters:

• NUKEM GmbH, Alzenau (Germany)

& NUKEM Inc., Danbury (USA)

Representative Offices:

• Moscow

• Tashkent (Uzbekistan)

• Ust Kamenogorsk (Kazakhstan)

Key Figures Financial Year 2010

• Sales € 530 million

• Employees 37


1 April 1960: Foundation of NUKEM (Nuklear-Chemie und -Metallurgie GmbH)

Major shareholders: Degussa (52.5%)

Rio Tinto (22.5%)

Metallgesellschaft (15.0%) (after November 1960)

Mallinckrodt (10%)

Major activities: research and development of powder process technology, pelletizing and sintering of pellets; production of fuel plates for material test reactors

1973: Purchase of enrichment services from TENEX for RWE

1974: Foundation of NUKEM-Luxemburg (NULUX)

NUKEM History (1)


1982: Foundation of US subsidiary NUKEM, Inc., dealing with nuclear fuel services in the US

1992: Long-term uranium supply contracts concluded with Kazakhstan and Uzbekistan, including purchase of existing stocks

1999 NUKEM, Cameco and AREVA signed a commercial agreement with Techsnabexport (TENEX), for the purchase of natural uranium derived from Russian HEU (HEU Feed Agreement)

2006: Advent International acquires NUKEM from RWE

NUKEM History (2)


About NUKEM

• World‘s largest global traders of uranium, conversion, and enrichment services

• One of the top five providers of uranium to nuclear power plants worldwide:

- Delivering over 15 million pounds of U3O8 annually

- Long-term Supply Arrangements until 2022

- Purchase and marketing of uranium feed (UF6) under the high-enriched uranium (HEU) deal with Russia

- Partnership with major uranium mining enterprises in Kazakhstan and Uzbekistan

- Spot Purchase Arrangements


Long Term Contract History

NUKEM has had successful long term supply contracts for uranium, conversion and enrichment services with the following utilities worldwide:

• Arizona Public Service, USA

• Baltimore Gas & Electric, USA

• Constellation, USA

• Dominion, USA

• Duke, USA

• Entergy, USA

• FP&L, USA

• PG&E, USA

• PP&L, USA

• PSE&G, USA

• Rochester, USA

• Southern Companies, USA

• TUCO, USA

• Yankee Atomic Power, USA

• British Energy, UK

• CEZ, Czech Republic

• EdF, France

• Enusa, Spain

• Eon, Germany

• KRSKO, Slovenia

• PAKS, Hungary

• RWE, Germany

• Tenex, Russia

• TVO, Finland

• Vattenfall, Sweden

• Chubu, Japan

• CFE, Mexico

• CNEIC, China

• Dioxitek, Argentina

• EPDC, Japan

• Eskom, South Africa

• INB, Brazil

• KEPCO, Korea

• KHNP, Korea

• Taipower, Taiwan

• Tepco, Japan


NUKEM’s sales in Mexico

NUKEM is Mexico’s sole supplier of uranium and enrichment services: 2003 through 2016.

Comision Federal de Electricidad, Mexico’s sole nuclear utility, has been purchase uranium from NUKEM since 1993.

Total deliveries will be over 4,250 MTU and 2.4 million SWU with a total value of almost USD 0.9 billion.

Spot and Long Term Contracts


NUKEM’s sales in Taiwan

NUKEM is Taiwan’s biggest single supplier of uranium.

For the past 25 years, NUKEM has been supplying Taiwan with natural uranium in the form of U3O8 and UF6.

Taipower, Taiwan’s sole nuclear utility, purchase roughly 20 million lbs U3O8e since 1985 and NUKEM supplied 53% of these purchases.



NUKEM’s sales in South Korea

NUKEM has been a supplier of uranium to South Korea since 1994.

Total deliveries to exceed 5,450 MTU.

Amounts to roughly 15% of total reactor requirements.



NUKEM Product Portfolio

Nukem has delivered the following product types under long term / spot contracts

- Enriched UF6

- Enriched UO2

- Conversion Services

- Enrichment services

- Non ASTM specification - UF6, UO2

Nukem has delivered Uranium to the following reactor types

- Natural U3O8

- Natural UF6

- Natural U02

• PWR (Westinghouse, Siemens) • CANDU (AECL)• BWR (GE) • VVER (ASE)•AGR (BNFL)


0

5

10

15

20

25

30

AREVA *) Cameco *) Rio TintoUranium

KazAtomProm BHP Billiton

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

NUKEM

NUKEM Delivery Commitments vs.Uranium Production of the Major Producers

*) HEU Feed included as “production”

Mil

lio

n l

bs

U3O

8

NUKEM is one of the six major players

Covers ~ 10 % of the world uranium demand

2010 numbers preliminary


Components and Services in the Fuel Cycle Service

Suppliers - Producers

- Governments- Intermediaries

- Funds- Utilities

Buyers- Utilities

- Producers- Intermediaries

- Funds

Products / Services - Natural Uranium

(U3O8, UF6)- Conversion

- Enrichment (< 5%)- Residue Recovery

Finance- Foreign Exchange

Transactions- Inventory Financing

- Supplier / Trade Credits

Logistics- Transport- Storage- Swaps

Type of Transactions- Sales Purchases (Spot / Long-term)- Uranium Loans

- Sale - Buy - Back- Buy and Hold

- Swaps

NUKEM


Industry Relationships

• Converter storage/holding accounts for U3O8 & conversion credits

• Fabricator storage/holding accounts for EUP (UF6 & oxides) held as feed & SWU credits

• Fabricator processing agreements for off specification materials

• Fabricator qualification & supply of UO2 powder for pellet production

• Fabricator umbrella/teaming agreement for special projects

• Fabricator pellet qualification trials

• Enrichment storage/holding accounts for UF6

• Accounts allow for physical and or book transfer delivery to customers

• B&W/NFS (HEU down blending and purification)

• Customer relationship

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