Presented by Luis Lopez

1. Sustainable Uranium Resources Development Business Model Canvas for National Atomic Energy Commission (CNEA), Argentina Presented by Luis Lopez

2. Infrastructure • Key activities • Activities: Favourability Program; Exploration (Cerro Solo district, Laguna Sirven, Neuquen Basin, Alipan, Franca, Don Otto district); Pre-Feasibility (Cerro Solo deposit); Mining & Milling in stand by (Sierra Pintada mine – San Rafael complex) • Activities in related areas: Project of Environmental Restitution of Uranium Mining (PRAMU); UO2 Conversión (Dioxitek S.A.); Fuel Fabricación (CONUAR S.A.) • Key resources • Human Resources: 286 (Exploration Branch); 90 (Production Branch) • Physical resources: Central Office; Prospecting Office (Mineralogy, Geophysics, Geochemistry, Radiometrics Techniques); 4 Regional Offices (Geology, Drilling, Logging, Chemistry Laboratories); 1 Mining Milling Complex in stand by (Geological Modelling, Remediation) • Financial (2016): USD 3.4 M (Infrastructure and regular activities); USD 3.7 M (Investment projects); USD 6.7 M (Salaries – estimated) • 64 mining licenses (requested and conceded exploration permits, statements of discovery and ore deposits) • Key partners • List all partner ministries: Ministry of Energy and Mining, Secretary of Energy, Deputy Secretary of Nuclear Energy • Organizations: Argentinean Geological - Mining Survey (SEGEMAR); Argentinean Air Force (FAA) • Companies: Provincial Mining Companies (REMSA - Salta, FOMICRUZ - Santa Cruz); AREVA (MOU under study); Jr. Companies settled down in the country (proposals under study) • Universities: Buenos Aires University (UBA); National University of Cordoba (UNC); National University of Salta (UNSa); National University of La Plata (UNLP); National University of Patagonia (UNPSJB) • Regional partners: Brazilian-Argentine Agency for Accounting and Control of Nuclear Materials (ABACC) • International partners: IAEA (NFCM, TC), World Bank (PRAMU), NEA-OECD (Red Book)

3. Value Propositions • Enlarging the nuclear fuel resource-base and low-cost, environmentally friendly production by applying best practices in public investment projects with support of effective human resources and innovation • Nuclear fuel resource augmentation and production • Application of the best practices in uranium production cycle: Favourability/ Exploration/ Feasibility/ Production in stand by/ Remediation • Energy security – by replacing imports • Low cost - Exploration costs at USD 6-7 / kg of RAR + IR; Future production costs comparable to those of the international market • Exploration for environmental friendly and low-cost ISL amenable deposits • Matrix structure of projects • Public Investment Projects • Development and strengthening the Human Resources in the UPC • Support Innovation - Research and Development projects (e.g. CRPs; equipment technology)

4. Customers • Customer Segments • Nuclear power industry - the nuclear resources developed will be addressed to meet the local demand. The direct customer would be the U2O Conversion Plant – Dioxitek S.A. (99% CNEA; 1% Province of Mendoza) • Society – Energy security; Socio-economic gains • Channels • Domestic uranium production and local supply (on standby since 1997) • Customer Relationships • Direct engagement

5. Finances • Cost structure Exploration: Infrastructure and regular activities: USD 3 M 6 Investment projects: USD 2.3 M Personnel : USD 5.1 M Production: Infrastructure and regular activities: USD 0.4 M 3 Investment projects: USD 1.4 M Personnel: USD 1.6 M • Revenue streams • National funding

6. The Uranium Business Model Canvas for CNEA