Silex Systems Limited provides the following update in relation to the US Government approvals process for the restructure of GE-Hitachi Global Laser Enrichment (GLE). GLE has received notice from the US Nuclear Regulatory Commission (NRC) that it will be granted a stand-alone Facility Clearance which will enable GLE to continue to operate under new ownership as a foreign owned entity, pursuant to closing of the Membership Interest Purchase Agreement (MIPA) executed in December 2019 between Silex, Cameco Corporation (Cameco) and GE-Hitachi Nuclear Energy (GEH). The application for a stand-alone Facility Clearance was submitted to the NRC in February 2020. Contemporaneously with the granting of the new Facility Clearance, the NRC will terminate, at GLE's request, the old License under which GLE would have operated in Wilmington, North Carolina (known as the SNM-2019 License). The termination in part reflects GLE's intention to base all commercial operations in Paducah, Kentucky, with the Paducah tails enrichment plant being the first planned commercial plant. A separate NRC license for commercial operations at Paducah will be applied for at a future date. Closing of the MIPA, which remains subject to finalisation of US Government approvals and other factors, would result in Silex acquiring a 51% interest in GLE and Cameco increasing its interest from 24% to 49%. Details of the transaction and the additional approvals required from other US Government agencies have been outlined in previous disclosures.