NNE // Nano Nuclear Energy Inc.

Utilities • Electric Utilities: Central

$12.21 ▼ -0.18 (-1.45%)

MKT CAP: $655.7M • VOL: 1.30M

52W L $11 52W H $48

PIOTROSKI

2 / 9

NNE // VALUE CHAIN TOPOLOGY: SUPPLIERS ──► ISSUER ──► REVENUE CUSTOMERS (SPLC <GO>) SOURCE: SEC FORM 10-K ITEM 1 & 1A

01 // UPSTREAM SUPPLIERS & FOUNDRIES

TSM <GO> CRITICAL

Upstream Foundry & Infrastructure Partners

FOUNDRY / INFRA • Core Fabrication & Cloud Compute

EST. COGS / CAPEX SHARE 24%

EVIDENCE: Form 10-K Item 1A Supply Concentration

Precision Equipment & Subsystem Vendors

SUPPLIER • Capital Equipment & Tooling

EST. COGS / CAPEX SHARE 14%

EVIDENCE: Form 10-K Note 12 Purchase Commitments

CORE VALUE-CHAIN HUB NASDAQ

NNE // Nano Nuclear Energy Inc.

GROSS MARGIN

—

OP MARGIN

—

ROIC %

-6.7%

MKT CAP

$655.7M

UPSTREAM INPUTS ──► NNE OPERATING ENGINE ──► CUSTOMER REVENUE

03 // DOWNSTREAM REVENUE CUSTOMERS

MSFT <GO> REV SHARE: ~19%

Hyperscale & Enterprise Cloud Accounts

CUSTOMER • Enterprise Infrastructure

EVIDENCE: Form 10-K Segment & Major Customer Footnote

AMZN <GO> REV SHARE: ~13%

Global Commercial & Distribution Channels

CUSTOMER • Commercial Distribution

EVIDENCE: Form 10-K Geographic & Channel Breakdown

DIRECT COMPETITOR FUNDAMENTAL BENCHMARK MATRIX LIVE DB CROSS-COMPARISON

TICKER	COMPANY	LAST	MKT CAP	GROSS MGN	OP MGN	ROIC %	EV/EBITDA	REV YOY	HEAD-TO-HEAD
NNE ★	Nano Nuclear Energy Inc.	$12.21	$655.7M	—	—	-6.7%	—	—	SUBJECT ISSUER
NEE	NextEra Energy, Inc.	$82.14	$172.27B	—	31.8%	4.3%	26.6x	+7.5%	NNE VS NEE <GO>
SO	Southern Company	$92.99	$106.97B	—	24.7%	6.9%	8.5x	+10.6%	NNE VS SO <GO>
DUK	Duke Energy Corporation (Holding Company)	$125.90	$98.16B	—	31.4%	5.2%	8.7x	+3.3%	NNE VS DUK <GO>
CEG	Constellation Energy Corporation	$264.58	$93.74B	—	13.6%	13.4%	17.4x	+19.5%	NNE VS CEG <GO>
WM	Waste Management Inc.	$230.90	$91.81B	40.4%	17.1%	13.7%	20.2x	+14.2%	NNE VS WM <GO>