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(Acc. IFRS-EU) Presentation of Electrica H1 2026 Financial Results Bucharest, 1 September 2026
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2 Electrica Group’s overview H1 2026 Group’s Financial Results Main Corporate Events 1 2 3 Group Strategy and Sustainability Shareholdings’ Structure and Evolution of the Shares & GDRs 4 5 Appendices6 o Regulatory Aspects - Distribution o Regulatory Aspects – Supply o Regulatory Aspects - Production Content
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3 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) This document was prepared by Electrica for the presentation of H1 2026 financial results and has an informative nature. This presentation is not an offer, an invitation or recommendation to trade the securities issued by Electrica. The consolidated financial statements and the reports prepared for the above-mentioned period in accordance with the applicable capital market regulations are available on the company’s website, at https://www.electrica.ro/en/investors/results-and-reports/financial-results/ In the H1 2026 consolidated financial statements, the Group restated figures from past periods. These corrections have no impact on total assets, total liabilities, total equity or retained earnings as of 31 December 2025, or profit or loss for the years 2024 and 2025. For further details, please refer to Note 5 (Restatements) in the consolidated financial statements for H1 2026. The figures presented in this document are rounded based on the round to nearest method. As a result, rounding differences may appear. The results presented are based on the consolidated financial statements prepared in accordance with the International Financial Reporting Standards (IFRS-EU). DISCLAIMER
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Electrica Group overview1
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5 Electrica is the most important national distribution operator and the electricity supplier with the most places of consumption in Romania Electricity Distribution Electricity Supply Users ~4.011 million Voltage lines 206,383 km Distributed Energy 8.91 TWh (H1 2026) (-0.5% H1 2025) 18.03 TWh (2025) (+1.5% FY 2024) RON 233.1 mn (H1 2026) RON 872.7 mn (2025) RAB: est. 8.7 bn RON(H1 2026) Consumption places ~3.23 million Total market share 14.27% (Jan–May 2026) 14.71% (2025) Electricty supplied on the retail market 3.38 TWh (H1 2026) 7.25 TWh (2025) Commissioned Capex: Electricity Production and Storage 2030 target: 1000 MW production, 900 MWh storage Pipeline (operational and under development) 307.5 MW in PV and on W Parks 1169.5 MWh in 19 energy storage projects Group Structure at 30 June 2026 Note: since 6 May 2026, Electrica Furnizare Grup SRL – Chisinau is also a subsidiary of Electrica S.A.
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6 ELECTRICA GROUP OVERVIEW ➢ Through its subsidiary, the DSO Distributie Energie Electrica Romania S.A. (DEER), Electrica is a key player in the electricity distribution servicing 40.8% of Romania’s area, covering some of the most populated and industrialized regions (3 out of the total 8 distribution areas) ➢ Concession agreements are valid until 2054 with the possibility to extend them for another period of 24.5 years ➢ The exclusive electricity distribution licenses are valid until 2027 with the option for extension for further 25 years ➢ Today’s major focus is on infrastructure upgrades and smart grid investments, to optimize costs and reduce network losses Other legal 4.28% #2. Electrica – An Integrated Energy Platform SOURCE: : ANRE Report on performance indicators and technical state 2025 Largest Distribution Service Operator in Romania Volumes Distributed in 2025 ➢ DEER distributed 8.91 TWh in H1 2026, 0.5% less than in H1 2025 and 18.03 TWh in FY 2025, 1.5% more than in FY 2024 ➢ DEER distributed 39.89% of the total distributed volumes in Romania in 2025 ➢ Area covered by DEER’s network - 40.8% of Romania’s 238,391 km2 ➢ As of H1 2026, DEER’s network of 206,383 km voltage lines comprises of: o 151,328 km low voltage (LV) o 47,445 km medium voltage (MV) o 7,610 km high voltage (HV) lines ➢ As of 31 December 2025, DEER served approx. 4.011 million users, ~52.3% located in urban areas, 99.68% of the total users are connected to LV and 0.32% to MV-HV (the most among the DSOs). In 2024, it served approx. 3.975 million users. 39.89% 60.11% DEER OTHERS Total Romania 45.202 TWh Electrica: 18.03 TWh 39.89%
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7 ELECTRICA GROUP OVERVIEW 14.27% 85.73% ELECTRICA FURNIZARE Others Total market 19.9 TWh 24.93% 24.94%31.04% 11.41% 7.68% Total market 11.4 TWh Market shares of SoLRs depending on the electricity supplied to customers in competitive regime, Universal Service and Last Resort Volumes SuppliedMarket shares of SoLRs* SOURCE: Company data One of the Leading Players in Romania’s Electricity Supply *SoLR – Supplier of Last Resort SOURCE: ANRE’s latest available market reports – Jan-Dec 2025, Jan-May 2026 o EFSA provides balancing services for approximately 20% of the total Romanian electricity consumption. o In March and August 2024, January, June and November 2025, April 2026, Electrica Furnizare was a supplier of last resort for electricity (SoLR). There are 5 designated SoLRs in Romania in 2026. o Today’s major focus is on harvesting the opportunities in an evolving competitive market and on offering new value-added services on B2B + B2C segments. o Market leader in electricity supply through its subsidiary Electrica Furnizare (EFSA) by number of consumption places - 3.23 million. o EFSA ranks third in terms of volume supplied—with a 14.27% market share o EFSA’s market share in the competitive market was 10.8% in 2025, increasing to 11.01% after the first five months of 2026, thereby solidifying its third place position nationwide. 25.91% 27.17% 26.19% 11.70% 9.03% Electrica Furnizare PPC Energie Hidroelectrica E.ON Energie Romania Premier Energy Furnizare 2025 January-May 2026 Total market 48.2 TWh Total market 27.4 TWh Overall Market share 14.71% 85.28%
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8 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Other legal Wind Projects (onW) Photovoltaic Projects (PV) 186.5 MWp Battery Energy Storage Systems Projects (BESS) Satu Mare 2 Fantanele 121 MW 169.5 MWh Under construction Under construction Operational Estimated Completion date: Q1-Q2 2027 Estimated Completion date: Q2 2027 In competitive selection procedures Estimated Completion date: First phase (~78MW in Q4 2027) Second phase (~43 MW in Q3-Q4 2029) Under development, with EU funds, Preparations for competitive selection Under construction Estimated Completion date: Q2-Q3 2027 Estimated Completion date: Q3-Q4 2026 27 MWp 62.5 MWp 77.5 MWp 12 MWp 121 MW 22.5 MWh 70 MWh Crucea Est Preparations for competitive selection procedure phase Estimated Completion date: Q4 202760 MWh Bihor 1 Under construction Estimated Completion date: Q2 202717 MWh Growth Pipeline – Electricity Production and Storage SOURCE: Company data Satu Mare 3 Bihor 1 Vulturu Operational7.5 MWpStanesti Crucea Est Vulturu 186.5 MWp (without 900 MW Romgaz & Liberty) Photovoltaic (PV) 121 MW Onshore Wind (onW) 949.5 MWh Battery Energy Storage Systems (BESS) Green Production and BESS* *operational and under development Multi-site projects In different stages of development Estimated: Q4 2027-Q2 2028780 MWh 780 MWh Operational Common Projects with Romgaz and Liberty Galati greenfield RES and BESS projects – In different stages of development Romgaz Estimated: 100MW in Q2 2027, rest in 2028-2030400 MW Liberty Estimated: 50MW in Q2 2027, rest in 2028-2030500 MW Craiova Cogeneration** Objective 1 – for Craiova SACET- approx. 82 MW and a thermal capacity of approx. 208 MWt, generated through high-efficiency cogeneration, supplemented by peak load and backup thermal energy generation units. Objective 2 – for Ford Otosan, initially est. at 32 MW and 70MWt for cogeneration (gas turbines) and 38 MWt in peak/back-up thermal energy installations (industrial steam boilers, natural gas) **Thermal and electrical energy, high-efficiency natural gas powered, hydrogen-ready, equipped with black-start capabilities
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9 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Romanian State 49.78% BNY MELLON DRS (LSE) 0.08% Other legal persons 46.07% Individuals 4.05% Electrica’s Capital Structure Electrica is a listed Romanian company active in electricity distribution, supply and production in Romania. Its listing in July 2014 was the largest primary initial public offering in Romania with the issue of new shares, as well as the only privatizationwith a majoritystake throughthe stock exchangeuntil now. Its dual listing in July 2014 on both the Bucharest and London Stock Exchange attracted almost RON 2 billion (EUR 444 mn.) through the primary initial public offering, the listing having a significant impact on the capitalization and liquidity of the Bucharest Stock Exchange at the time. Its first green bonds issuance in July 2025 attracted 500 million EUR, is listed on Luxembourg and Bucharest Stock Exchanges and represents the largest issue of green, corporate, and non-financial bonds in Romania Total No. of Shares 339,553,004 Since 2024, included in the FTSE Russell GEIS indices, Mid-cap, and starting 21 September 2026 in Large Cap category BBB-, stable outlook, rated since 2019, reconfirmed in March 2026 Top 10 most valuable Romanian brands, 10th place in 2025 Market capitalization - RON bn. 17.72 at EOD 31 Aug 2026 Market capitalization - RON bn. 13.89 at EOD 30 June 2026 Highest historical share price - 56.70 RON on 24 Aug 2026 Shared listed on BSE, Main market since 2014 (ticker EL) and notes listed on BSE since 30 July 2025 (ticker EL30E) GDR’s listed on LSE, Main market since 2014 (ticker ELSA) Since 2014, included in the MSCI indices (Mid Cap/Large Cap) Over 17,500 shareholders from 31 countries 2.17 billion RON in dividends distributed in 11 years Since listing: Aggregated yield: 329% (30 Jun ‘26) and 432% (31 Aug ’26) Yield from share price: 271% (30 Jun ‘26) and 374% (31 Aug ’26) A black background with white text AI-generated content may be incorrect. Notes listed on LuxSE since 14 July 2025 (XS3111004241) MORE HERE: https://www.electrica.ro/en/investors At 31 June 2026: • NN Group NV , Paval Holding and Allianz SE own, directly or indirectly, between 5% and 10% of the total number of shares with voting right
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10 Corporate Governance Bodies - Non-Executive Management | https://www.electrica.ro/en/investors/corporate-governance/board-of-directors/ Board of Directors - Current composition – with mandates until 26 January 2028 Mr. Dragos Neacsu Non-executive Independent Director since 28 April 2021, re-elected on 26 January 2024 Chair of the ARC and Member of the CGPAC Mr. Mihai Diaconu Chair of the Board of Directors Non-executive Director, elected on 5 February 2025, initially appointed on 21 October 2024 Member of the SCGC and of the ARC Mr. Adrian Lotrean Non-executive Independent Director since 28 April 2021, re-elected on 26 January 2024 Chair of the NRC and member of the ARC Mr. Ion Cosmin Petrescu Non-executive Director since 28 April 2021, re-elected on 26 January 2024 Member of the ARC and of the SCGC Ms. Georgiana Bogasievici Non-executive Director since 26 January 2024 Chair of the CGPAC Mr. Cristian Mocanu Non-executive Independent Director since 26 January 2024 Chair of the SCGC and member of the NRC Ms. Loredana Chitu Non-executive Independent Director since 29 April 2026 Member of the CGPAC o ARC - Audit and Risk Committee, NRC - Nomination and Remuneration Committee, SCGC - Strategy and Corporate Governance Committee, CGPAC - Climate Governance and Public Affairs Committee
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11 ELECTRICA GROUP OVERVIEW Corporate Governance Bodies – Executive Management https://www.electrica.ro/en/investors/corporate- governance/executive-management/ Mr. Alexandru-Aurelian Chirita Chief Executive Officer 17 May 2022 – 01 January 2031 Ms. Andreea Lambru Chief Business Development Officer 15 March 2023 – 16 March 2031 Mr. Costin Iordache Chief Financial Officer 1 April 2026 – 31 December 2026
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Group’s financial results for H1 2026 (acc. IFRS-EU)2
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13 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) 8,691 10,871 4,605 5,782 547 532 273 255 9,238 11,403 4,878 6,037 2024* 2025* H1 2025 H1 2026 Revenues excl Green Certificates Green Certificates Revenues 470 1,219 421 458 5.1% 10.7% 8.6% 7.6% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% - 200 400 600 800 1,000 1,200 1,400 2024* 2025* H1 2025 H1 2026 Net Result Net Result Margin 1,449 2,383 1,003 1,080 15.7% 20.9% 20.6% 17.9% 0.0 % 5.0 % 10. 0% 15. 0% 20. 0% 25. 0% - 500 1,000 1,500 2,000 2,500 3,000 2024* 2025* H1 2025 H1 2026 EBITDA EBITDA Margin Summary Consolidated Financials (IFRS-EU) Revenues (RON mn.) EBITDA1 Growth and Margin Performance EBITDA (RON mn.) and EBITDA Margin (%) Net result and Net Result Margin (RON mn.) Net Debt/(Net Cash)2 (RON mn.) 1. Adjusted EBITDA (Earnings before interest, tax, depreciation and amortisation or namely EBITDA) is defined and calculated as profit/(loss) before tax adjusted for i) depreciation, amortization and impairment/reversal of impairment of property, plant and equipment and intangible assets, and iii) net finance income. EBITDA is not an IFRS measure and should not be treated as an alternative to IFRS measures. Moreover, EBITDA is not uniformly defined. The method used to calculate EBITDA by other companies may differ significantly from that used by the Group. As a consequence, the EBITDA presented in this note cannot, as such, be relied upon for the purpose of comparison to EBITDA of other companies 2. Net debt is calculated as bank borrowings + bank overdrafts + financial leases + green bonds - cash and cash equivalents - deposits, treasury bills and government bonds SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS * The amounts related to year 2024 & 2025 have been restated ; Please see note 5 of the H1 2026 IFRS-EU Consolidated Financial Statements 4,468 3,976 3,497 2024 2025 H1 2026
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14 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) 1,003 148 4 (74) 1,080 EBITDA H1 2025 Energy Margin Other Revenues OPEX EBITDA H1 2026 Consolidated EBITDA and Net Result Evolution (IFRS-EU) EBITDA (RON mn.) Net result (RON mn.) 1. Other revenues refer to the variance of revenues from other activities, beside distribution and supply of electricity, as well as the variance of “Other revenue” line. Any calculation differences for the values expressed in RON mn. may appear from their approximation SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS The consolidated EBITDA variation H1 2026 vs. H1 2025 is positive of RON 77 mn., being mostly the cumulated effect of the factors below: ❑ The positive variation of the energy margin RON +148 mn., thereof: • RON +72 mn. from the distribution segment, increase generated mostly by: ➢ RON +83 mn. – positive impact of the increase in other electricity revenues generated by reactive energy as well as DAM and BM revenues; ➢ RON -11 mn. – increase in expenses with energy purchased to cover network losses (NL), generated by the increase of 4.4% in electricity purchase prices of NL offset by the decrease of 3.2% in the volumes of electricity needed to cover NL compared to H1 2025. • RON +76 mn. from the supply segment, increase generated mostly by: ➢ RON +948 mn. – the variation in revenues related to the supply segment is determined by the establishment of the selling price of electricity through competitive mechanisms, adapted to the company's strategy. This positive effect was partially diminished by the 9% decrease in the energy supplied in the retail market. ➢ RON -1.040 mn. – the decrease in other operating income is mainly generated by the higher value of the subsidies to be recovered from the capping mechanism in H1 2025 compared with H1 2026 due to the elimination of the capping mechanism starting 1 July 2025. ➢ RON +179 mn. – the decrease in the cost of electricity purchased for supply is mainly determined by the decrease in the quantity purchased by approx. 9%. ❑ Negative variation of OPEX of RON -74 mn., net impact mainly generated by: • negative impact from repairs and maintenance of RON 10 mn. mainly from distribution segment; • negative impact from other expenses of RON 37 mn. mainly from third party expenses, to which is added the utilities costs and printing and distributing invoices expenses. • negative impact from change in provisions of RON 16 mn. mainly from distribution and supply segments due to a decrease in H1 2025 of provisions due to extraordinary events. Net result variation H1 2026 vs. H1 2025 is of RON +37 mn., mainly from the positive evolution of EBITDA of RON +77 mn., positive effect offset by the increase in the amortization and depreciation of assets of RON 11 mn. to which is added the increase of financial result of RON 8 mn. and the increase in income tax expense by RON 23 mn.. 421 77 (11) (23) 458 (8) Net result H1 2025 EBITDA variance Depreciation Financial result Income tax Net result H1 2026
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15 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Financial results Distribution Segment – Highlights (IFRS-EU) RAB: RON 8.7 bn (est.. H1 2026) Area covered 97,196 km2 Key figures 2026 Users ~4.011 million Voltage lines 206,383km Commisioned Capex, recognizable by ANRE, realizedin H1 2026 233 mn RON (H1 2026) = 139.8% planned ANRE (H1 2026), 24.8% planned ANRE 2026 235.5 mn RON (H1 2025) =131.9% planned ANRE (H1 2025), 27.4% plannedANRE 2025 SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS Distributed Energy 8.91 TWh (H1 2026) (-0.5%) 8.95 TWh (H1 2025) 18.03 TWh (2025) (+1.5% ) 17.8 TWh (2024) EBITDA decrease by RON 42 mn., mainly due to the evolution of: ▲ energy margins by RON +72 mn., as an effect of ➢ RON +83 mn. – positive impact of the increase in other electricity revenues generated by reactive energy as well as DAM and BM revenues; ➢ RON -11 mn. – increase in expenses with energy purchased to cover network losses (NL), generated by the increase of 4.4% in electricity purchase prices of NL offset by the decrease of 3.2% in the volumes of electricity needed to cover NL compared to H1 2025. ❑ unfavorable impact from OPEX by RON 51 mn. mainly from: utilities expenses, IT and other expenses related to the current activity. ❑ unfavorable impact from other revenues by RON 43 mn. mainly from the late increase in payment penalties which were higher on the previous period. The net result decreased by RON 24 mn., mainly from the negative evolution of EBITDA (RON 42 mn.), effect diminished by the favorable impact of the variation of the financial result (RON 22 mn.). ❑ The favorable impact on the distribution segment results was driven by the decrease in the cost of electricity purchased for NL (net with income coverage) in H1 2026, which dropped by RON 37.5 mn., or 6.1%, from RON 614.6 mn. in H1 2025 to RON 577.1 mn, the decrease being generated by the decrease of NL price with 3%, and by the decrease of NL quantity with 3.2%. The net debt decreased with RON 317 mn. compared with YE 2025, motivated by the decrease of cash and cash equivalents (RON 570 mn.) effect offset by the increase of deposits, treasury bills and government bonds ( RON 721 mn.) and financial leasing (RON 3.9 mn.) to which is added the decrease of bank borrowings (RON 170 mn.). 962 83 (11) (14) (7) (51) (43) 920 EBITDA H1 2025 Energy revenues Network losses cost Employees benef. Exp. Provisions OPEX Other revenues EBITDA H1 2026
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16 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) 257 437 171 72 0 50 100 150 200 250 300 350 400 450 500 2024 2025 H1 2025 H1 2026 Distribution segment – main aspects (IFRS-EU) Revenues (RON mn.) Relevant regulatory information: The positive regulated result for H1 2026 is RON 539 mn. 1. Net debt is calculated as bank borrowings + bank overdrafts + financial leases + green bonds - cash and cash equivalents - deposits, treasury bills and government bonds Net result (RON mn.) Net Debt1 (RON mn.) EBITDA (RON mn.) Distributed energy margin variation (RON mn.) SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS - DISTRIBUTION SEGMENT 4,968 5,703 2,706 2,840 - 1,000 2,000 3,000 4,000 5,000 6,000 2024* 2025* H1 2025 H1 2026 1,579 1,877 962 920 2024 2025 H1 2025 H1 2026 724 966 469 445 - 200 400 600 800 1,000 1,200 2024 2025 H1 2025 H1 2026 1,998 1,330 1,012 0 500 1,0 00 1,5 00 2,0 00 2,5 00 2024 2025 H1 2026 * The amounts related to year 2024 & 2025 have been restated ; please see note 5 of the H1 2026 IFRS-EU Consolidated Financial Statements
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17 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) RRAB Analysis for distribution segment for 2026 (budget) (RON mn.) SOURCE: COMPANY DATA 11 (279) 310 641 188 (148) (146) (5) 530 63 593 (86) (81) (248) 179 (29) 150 600
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18 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Analysis of Regulated Net Result 2026 – OMFP 1802/2014– IFRS-EU for the Distribution Segment in 2026 (RON mn.) SOURCE: COMPANY DATA (576) (645) (391) 539 (38) 62 (442) 81 (111) 474 (109) (51) 314 7 10 3 (14) (3) 38 114 (24) 445 2,151 391 (7) Total net revenue NL realized OPEX Regulated amortiz. Regulated result 2026 YTD NL Capitalization Subsidies revenues Accounting deprec. Regulated deprec. Provision adjust. Monopoly tax Other elem. not incl. in reg. result Operating result Financial result Profit tax OMFP 1802 net result 2026 YTD OMFP 2844 adj. interest cost capit OMFP 2844 adj. DTA supply OMFP 2844 adj. IFRIC 12 Other AJE ICO Other OMFP 2844 adj. NL Capitalization (derecognition) NL Amortiz. (derecognition) Income tax Adj IFRS result 2026 YTD
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19 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) SOURCE: COMPANY DATA DEER – largest distribution operator in Romania Distributed volumes (TWh) Network losses (GWh) NL* (%) * NL (Network losses) percentage reprojected, according to ANRE Users ~4.011 million Voltage lines 206,383 km RAB: RON 8.7 bn (est. H1 2026) Distributed Energy 8.91 TWh (H1 2026) (-0.5%) 8.95 TWh (H1 2025) 18.03 TWh (2025) (+1.5% ) 17.8 TWh (2024) Capex PIF, recognizable by ANRE, realized 233 mn RON (H1 2026) = 139.8% planned ANRE (H1 2026), 24.8% plannedANRE 2026 235.5 mn RON (H1 2025) =131.9% planned ANRE (H1 2025), 27.4% plannedANRE 2025 Distribution Tariffs (RON/MWh) 8.17 8.59 4.39 1.00 6.58 6.74 3.31 1.00 2.31 2.44 1.25 1.00 17.05 17.77 8.95 3.00 2023 2024 H1 2025 H2 2026 Low Voltage Medium Voltage High Voltage 175.26 229.96 238.63 144.73 182.24 190.16 158.84 171.97 185.49 236.10 240.02 56.70 69.44 74.69 57.49 71.38 74.86 54.52 62.32 63.05 80.69 83.36 23.35 31.23 34.72 23.77 29.09 31.22 24.63 28.48 29.55 34.14 31.96 - 50.00 100.00 150.00 200.00 250.00 300.00 Apr-22 Apr-23 Jan-24 Apr-22 Apr-23 Jan-24 Apr-22 Apr-23 Jan-24 Jan-25 Jan-26 MN TN TS DEER DEER LV MV HV Network losses cost (RON mn) 8.59 8.71 4.39 4.29 6.74 6.83 3.31 3.34 2.44 2.50 1.25 1.27 17.77 18.03 8.95 8.91 2024 2025 H1 2025 H1 2026 Low Voltage Medium Voltage High Voltage 1,851 1,736 931 900 2024 2025 H1 2025 H1 2026 1,077 1,137 615 577 2024 2025 H1 2025 H1 2026 -6.4% +3.3% +1.7% 2 6 / 2 5 8.38% 8.89% 9.11% 8.41% 9.00% 8.99% 8.68% Reg. Actual FY Reg. Actual FY Actual H1 Reg Actual H1 2024 2025 2026
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20 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) The financial impact of the electricity market perspectives evolution - distribution Network losses (NL) Evolution of the cost of electricity needed to cover NL (net with income) ❑ In H1 2026, the cost of electricity purchased for NL (net with income) coverage decreased by RON 37.5 mn., or 6.1%, from RON 614.6 mn. in H1 2025 to RON 577.1 mn, being generated by the decrease of NL price with 3%, and by the decrease of NL quantity with 3.2%. Distributed energy Investments The evolution of the energy distributed volumes ❑ In H1 2026, the amount of electricity distributed was 8.91 TWh, a decrease with 0.5% compared to H1 2025, a decrease in low voltage (-0.10 TWh) was partially offset by an increase in medium and high voltage level. The average degree of realization of Commissioning in 2026 is: ❑ Compared to the values approved by ANRE: 24.8% of the annual planned value (RON 193 mn. out of RON 778 mn.), of which: o degree of execution of the ANRE H1 2026 plan, including additional works: 139,8% of the H1 2026 plan (RON 193 mn. from RON 138 mn.). o degree of execution of works carried over from 2025: 87.7% of the H1 2026 planned value (RON 40.1 mn. out of RON 45.69 mn.); ❑ Compared to the budgeted values: 23.9% of the 2026 annual budgeted value (RON 233 mn. out of RON 973.7 mn), of which: o degree of execution of the ANRE 2026 plan: 112.2% of the H1 2026 budgeted value (RON 154.8 mn. from RON 138 mn.) o degree of execution of additional works: 104% from H1 2026 budgeted value ( RON 38.2 mn. out of RON 36.7 mn.) o degree of achievement of works carried over from 2025: 87.7% of the H1 2026 planned value (RON 40.1 mn. out of 45.69 mn) SOURCE: COMPANY DATA
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21 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) (257) 277 (49) 34 -4.1% 3.5% -1.5% 0.8% -5.0% -4.0% -3.0% -2.0% -1.0% 0.0 % 1.0 % 2.0 % 3.0 % 4.0 % (30 0) (20 0) (10 0) - 100 200 300 400 2024* 2025 H1 2025 H1 2026 (78) 572 59 181 -1.2% 7.2% 1.8% 4.3% -2.00% -1.00% 0.0 0% 1.0 0% 2.0 0% 3.0 0% 4.0 0% 5.0 0% 6.0 0% 7.0 0% 8.0 0% (20 0) (10 0) - 100 200 300 400 500 600 700 2024* 2025 H1 2025 H1 2026 Net result and net result margin (RON mn.) Supply segment – Electrica Furnizare (IFRS-EU) Total Revenues (RON mn.) Net Debt/(Net cash)1 (RON mn.) EBITDA and EBITDA margin (RON mn.) | SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS - SEGMENT REPORTING ~3.23 mn. consumption places 14.71% total market share (2025) 7.25 TWh (2025) 3.38 TWh (H1 2026) supplied volumes - retail * The amounts related to year 2024 have been restated; please see note 5 of the FY 2025 IFRS-EU Consolidated Financial Statements EBITDA improved by RON 122 mn. compared to H1 2025, mainly following the evolution of the factors below: • Increase in energy margin RON +76 mn. from the supply segment, increase generated mostly by: ➢ RON +948 mn. – the variation in revenues related to the supply segment is determined by the establishment of the selling price of electricity through competitive mechanisms, adapted to the company's strategy. This positive effect was partially diminished by the 9% decrease in the energy supplied in the retail market. ➢ RON -1,040 mn. – the decrease in other operating income is mainly generated by the higher value of the subsidies to be recovered from the capping mechanism in H1 2025 compared with H1 2026 due to the elimination of the capping mechanism starting 1 July 2025. ➢ RON +179 mn. – the decrease in the cost of electricity purchased for supply is mainly determined by the decrease in the quantity purchased by approx. 9%. The net result has an improvement of RON 83 mn., mainly from the positive evolution of EBITDA of RON 122 mn. the other elements that had an impact on the net result are the following: the financial result with a negative impact of RON 6 mn. and the negative impact of the income tax expenses of RON 31 mn. Net debt decreased by RON 194 mn. compared to year end 2025, mainly as a result of the decrease of cash and cash equivalents (RON 25 mn.), from the decrease in overdrafts (RON 218 mn.), decrease in financial leases (RON 1 mn.). 6,310 7,945 3,302 4,251 1,671 1,131 1,080 39 7,981 9,076 4,382 4,290 2024* 2025 H1 2025 H1 2026 Other Revenues Revenues 1,905 1,782 1,588 2024 2025 H1 2026 14.27% total market share (May 2026) 1. Net debt is calculated as bank borrowings + bank overdrafts + financial leases + green bonds - cash and cash equivalents - deposits, treasury bills and government bonds
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22 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Electrica Furnizare ranked third among suppliers in Jan-May 2026 During January through May 2026 EFSA has been the third largest supplier in the overall market, in terms of supplied volumes (14.27%). In 2025, after ranking second on the overall market in the first eleven months of the year 2025, EFSA has been in the third place in December 2025, in terms of supplied volumes in 2025 – 14.71% market share. The supply market consists of the competitive segment, the universal service segment (US) and the supplier of last resort (SoLR) segment. The competitive segment comprises 96 suppliers (including suppliers of last resort operating in the competitive segment of the retail market), of which 89 have a market share of less than 4%, being relatively small. As of 31 May 2026, Electrica Furnizare (EFSA) had a total market share of 14.27% and a competitive market share of 11.01% (third place in both markets). Electrica Furnizare is also the market leader in Romania by number of consumption places, i.e. 3.2 mn. Total market share January-May 2026 (TWh) Competitive market January-May 2026 (TWh) SOURCE: ANRE JANUARY AND FEBRUARY 2026 and JANUARY- DECEMBER 2025 MARKET REPORTS 11.01% 14.55% 19.07% 5.68%3.77%4.96% 4.32% 4.50% 32.15% Electrica Furnizare PPC Energie Hidroelectrica E.ON Energie Romania Premier Energy Furnizare Engie Romania Getica 95 COM Nova Power&Gas Others (<4%) 14.27% 14.28% 17.77% 6.53%4.40% 4.61% 4.02% 4.19% 29.93%
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23 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Supply - key aspects – H1 2026 Electricity volumes on market segments1 (H1 2026) Electricity revenues on market segments (H1 2026) 1,2 4,4 4,9 1,3 Volume of Electricity Supplied on Retail Market (TWh) split by segment Volume of Electricity Supplied on Retail Market (TWh) split by type Number of consumption places at 30 June 2026 (mn.) split by segment Number of consumption places at 30 June 2026 (mn.) split by type | SOURCE: COMPANY DATA |. 1. ONLY RETAIL ELECTRICITY SALES. 2.31 2.44 2.44 1.05 1.05 0.90 0.40 0.23 0.04 3.76 3.71 3.38 H1 2024 H1 2025 H1 2026 Competitive Universal Service SoLR 1.76 1.79 1.77 1.71 1.62 1.46 0.02 0.01 0.00 3.49 3.42 3.23 H1 2024 H1 2025 H1 2026 Competitive Universal Service SoLR 2.11 2.18 1.95 1.65 1.53 1.42 3.76 3.71 3.38 H1 2024 H1 2025 H1 2026 household non-household 3.27 3.22 3.04 0.21 0.20 0.19 3.49 3.42 3.23 H1 2024 H1 2025 H1 2026 household non-household 72.1% 26.6% 1.3% Competitive Universal Service SoLR 70.8% 27.9% 1.2%
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24 GROUP’S FINANCIAL RESULTS In H1 2026, the gross margin achieved amounted to RON 334 mn, which is RON 75 mn above the level recorded in H1 2025 (RON 259 mn). At the same time, sales volumes decreased by 335 GWh, consisting of -231 GWh in the residential segment and -104 GWh in the non-residential segment. The main factors influencing revenues and procurement costs were: ❑ Sales revenues: a decrease of RON 165 mn, driven by the negative impact of lower sales volumes ( -RON 346 mn), partially offset by higher selling prices (+RON 181 mn). ❑ Procurement costs: a decrease of RON 143 mn, resulting from lower purchased volumes ( -RON 206 mn), an effect partially offset by an increase in the average procurement cost (+RON 63 mn). The variance related to the revenue component is analyzed exclusively at the level of sales revenues, considering that in 202 6 no price-capping revenues are recorded. To ensure comparability, the price-capping revenues related to the first quarter of 2025 were included in the sales revenue categor y. ❑ Regulated costs (distribution and transport) decreased by RON 98 mn compared to the level of RON 1,322 mn reported in H1 2025. This development was primarily driven by lower sales volumes, with a negative impact of RON 128 mn, partially offset by higher regulated tariffs, which contributed positively by RON 30 mn. Electricity supply: The regulatory framework has undergone significant changes over the past decade with regard to the full liberalization of the electricity and natural gas markets, the unbundling of supply and distribution activities, the implementation of support schemes for renewable energy, support for vul nerable consumers, and the capping of prices applicable to final customers of electricity and natural gas. Starting with November 1, 2021, against the backdrop of rising electricity and natural gas prices on international and domest ic markets, the energy crisis, as well as the effects caused by these increases on the population, a series of support schemes for electricity and gas consumers were implemented i n Romania. These were introduced through compensation and price capping mechanisms during the period November 1, 2021 – June 30, 2025 for electricity, and until March 31, 2026 for final natural gas customers. The amounts related to price caps for final customers are reimbursed by the National Agency for Payments and Social Inspection (“ ANPIS”) for household consumers and by the Ministry of Energy for non-household consumers. As of July 1, 2025, the market returned to full liberalization in the electricity sector, with price capping schemes no longe r applicable in this area. Prices are determined based on supply and demand, as a result of competitive mechanisms, and suppliers are free to set the price at which they supply ele ctricity to final customers. In the first half of 2026, electricity trading on the wholesale market was carried out transparently on centralized markets a dministered by OPCOM/BRM and based on bilaterally negotiated contracts. On the natural gas market, according to the provisions of Emergency Ordinance (OUG) no. 6/2025 regarding measures applicable to final customers, the duration of the support scheme through price capping was applied until March 31, 2026. Subsequently, Emergency Ordinance (OUG) no. 12/2026 came into force, concerning measures applicable to household customers on the natural gas market for the period April 1, 2026 – March 31, 2027. This ordinance establishes the final price as the lower of the contractual price and the price c alculated according to the ordinance. The final invoiced price under the ordinance consists of the procurement component, with imbalances capped at 10% of procurement costs, the supply component, regulated tariffs set by ANRE, VAT, and excise duties. In addition to OUG 12/2026, OUG 19/2026 was published on March 26, introducing improvements regarding the average selling pri ce for household consumers during the warm season, reducing the financial burden for underground storage operations, and providing a slight price improvement for h ousehold consumers during the cold season as a result of the reduced share of stored natural gas in the gas mix intended for this category. NOTE: the financial figures in this slide are acc. OMFP 1802/2014 ELECTRICITY MARKET SOURCE: COMPANY DATA The financial impact of the electricity market perspectives evolution – supply H1 2026 (1/3)
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25 GROUP’S FINANCIAL RESULTS 312 896 411 385 652 294 504 224 477 814 755 682 1,088 509 509 147 553 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026 Purchase prices evolution ❑ The first half of 2026 was characterized by low liquidity on the wholesale market, driven by the limited number of sell offers, predominantly concentrated on SPOT markets (Day-Ahead Market – DAM and Intraday), as well as by market participants’ reluctance to enter into long-term contracts amid uncertainties regarding price developments, high volatility, legislative changes, and costs associated with imbalances. ❑ The geopolitical context continues to have a significant impact, contributing through uncertainty and volatility to the evolution of market trading prices. The U.S.-Israel and Iran conflict has led to increases in energy prices, heightened market volatility, and additional risks to global energy supply security. ❑ For electricity, the Day-Ahead Market (DAM) was characterized by high volatility driven by changes in both the generation mix and electricity consumption patterns. During periods when renewable energy generation, particularly photovoltaic production, was reduced or unavailable, and the available generation mix could not fully meet the rapid increase in demand without the contribution of flexible generation sources and imports, prices recorded significant increases. The maximum market price reached RON 5,001.10/MWh on 30 June 2026. ❑ The average electricity trading price on the Day-Ahead Market (DAM) in H1 2026 was RON 585.51/MWh, representing an increase of approximately 6.62% compared to the average price recorded in H1 2025, which was RON 549.15/MWh ❑ Electricity production increased by approximately 5% compared to the same period of the previous year. Romania was required to import 958.73 GWh less electricity than in the first half of 2025. ❑ On the Balancing Market (BM), the resulting cost is largely generated by imbalances created and not recognized by prosumers. Factors such as the rapid development of the prosumer segment, the lack of historical data to support forecasting based on mathematical models, and the absence of real-time metering data have a significant impact on imbalance estimation. ❑ It is difficult to anticipate the evolution of the wholesale electricity and natural gas markets in the coming period, given the tense geopolitical context and persistent structural uncertainties. Price volatility is expected to remain high, driven by geopolitical tensions, the increasing share of renewable generation in the absence of adequate investments in storage and flexibility capacities, as well as relatively moderate final demand. In this context, price dynamics are expected to remain comparable to those observed in recent periods, without clear signs of short-term stabilization. The financial impact of the electricity market perspectives evolution – supply H1 2026 (2/3) ELECTRICITY MARKET Electricity weighted average price evolution on DAM1 (RON/MWh) Electricity price evolution on BM2 (RON/MWh) SOURCE: COMPANY DATA 1Source: ANRE, OPCOM; ²BM represents the sole price. 737 807 532 461 464 459 527 409 506 641 638 608 790 519 557 515 565 695 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026
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26 GROUP’S FINANCIAL RESULTS The financial impact of the electricity market perspectives evolution – supply H1 2026 (3/3) RECEIVABLES STATUS Total outstanding receivables adjusted with exclusion turnover (RON mn.)Outstanding receivables (RON mn.) SOURCE: COMPANY DATA Receivables’ analysis (acc. OMFP 1802/2014) ❑ Total receivables decreased by RON 540 million (-16%) in the first six months of 2026, significantly exceeding the pace of reduction recorded throughout the whole of 2025, when receivables decreased by RON 377 million. This development reflects an accelerated improvement in working capital, driven primarily by a reduction of more than 30% in unbilled receivables, following progress made in the billing process. ❑ Outstanding receivables* increased by RON 71 million (+7%) as of 30 June 2026 (RON 1,029 million), compared to 31 December 2025 (RON 958 million). This evolution should be analyzed in the context of the significant reduction in unbilled receivables (approximately RON 730 million during the first six months of 2026), which resulted in their transfer to the billed receivables category. To accelerate collections, a set of additional collection measures has been implemented, including: strengthening early collection activities, intensifying recovery actions for receivables overdue by more than 90 days, and doubling the number of cases assigned for legal recovery proceedings. ❑ Outstanding receivables adjusted with turnover evolution decreased by RON 152 mn. (-16%) on 30 June 2026 vs. 31 December 2025. 958 806 2025 H1 2026 704 958 1,029 2024 2025 H1 2026 IFRS 9 Loss allowances are determined according to IFRS 9 “Financial instruments” based on “expected credit loss” model. In applying IFRS 9, Group has identified 3 groups of customers based on shared risk characteristics: 1 cluster for the distribution segment and 2 groups (households and non -households) for the supply segment. A significant part of the bad debt allowances refers to clients in litigation, insolvency or bankruptcy procedures, many of t hem being older than five years. The Group will derecognize these receivables together with the related allowances after the finalization of the bankruptcy process. The Group has considered all the information available without undue costs (including forward looking information) that may a ffect the credit risk of its receivables since original recognition, thus recording a expected credit loss of RON 51.2 mn. in the six-month period ended 30 June 2026.
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27 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) 5 11 1 5 - 2 4 6 8 10 12 2024 2025 H1 2025 H1 2026 Production Segment (IFRS-EU) Revenues (RON mn.) Net result (RON mn.) EBITDA (RON mn.) Production Segment – Stage at report date Subsidiary Installed peak capacity (MWp) Stage SE Electrica SA (“ELSA”)* - Stanesti and Vulturu 19.5 operational Sunwind Energy S.R.L. (“SWE”) – Satu Mare 2 27.0 operational New Trend Energy S.R.L. (“NTE”) – Satu Mare 3 62.5 Under construction Crucea Power Park S.R.L. (“CPP”)** - Crucea Est 121.0 Competitive Procedures Foton Power Energy S.R.L. (“FPE”) – Bihor1 77.5 Under construction Total 307.5 Source: Electrica *The companies Electrica Productie Energie ("EPE"), Electrica Energie Verde 1 ("EEV1") and Green Energy; Consultancy & Investments ("GEC&I") were absorbed by ELSA, with the effective date 31.12.2023 **Wind project, the rest are photovoltaic projects SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS General overview Starting with the year 2020, the Electrica Group proposed the development of a portfolio of electricity production capacities from renewable sources (wind and photovoltaic). The production segment is represented by a photovoltaic park with an installed capacity of 7.5 MW in Stanesti, Giurgiu (formerly owned by Electrica’s subsidiary EEV1) and a photovoltaic park with an installed capacity of 12 MWp in Vulturu, Vrancea, both absorbed through the merger with the effective date of 31 December 2023, to which was added a photovoltaic park Satu Mare 2 with an instaleed capacity of 27 MWp commissioned in October 2025. On 30 June Electrica has obtained the technical grid connection permits (Romanian ATR) for 17 new battery energy storage projects (BESS), with a total capacity of approximately 700 MWh. Financial results In H1 2026, revenues, net result and EBITDA have an increase compared with the previous period of 2025 due to the commissioning of two photovoltaic parks, Vulturu and Satu Mare 2 which tripled the volumes of electricity produced. 12 17 5 10 2024 2025 H1 2025 H1 2026 7 15 2 7 2024 2025 H1 2025 H1 2026
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28 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) (8) 2 (1) 11 (10 ) (5) - 5 10 15 2024 2025 H1 2025 H1 2026 52 73 33 45 2024 2025 H1 2025 H1 2026 (13) (17) (8) 8 (20 ) (15 ) (10 ) (5) - 5 10 2024 2025 H1 2025 H1 2026 Electrica Serv (SERV) (IFRS-EU) Revenues (RON mn.) Net result (RON mn.) EBITDA (RON mn.) SOURCE: COMPANY DATA, CONSOLIDATED FINANCIAL STATEMENTS General overview SERV provides repair and other energy-related services to third parties, as well as several services to the companies within the group (vehicles rental, building rental etc.). SERV will multiply its efforts to develop the market for "green energy" power generation solutions - photovoltaic power plants and reactive energy compensators - by strengthening the partnership with EFSA in finding solutions and opportunities for customer efficiency, through the installation of photovoltaic panels and reactive energy compensators, smart lighting solutions, backup power, smart metering. Financial results In H1 2026, the evolution of net result is positive of RON 17 mn., mainly from the evolution of EBITDA of RON 12 mn. to which is added the decrease in amortization and depreciation of RON 3.3 mn. which diminished the positive evolution of EBITDA.
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29 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Group Liquidity and Debt Maturity Profile GROUP LIQUIDITY Total liquidity (RON mn.) SOURCE: COMPANY DATA ❑ At Group level, the total liquidity available in cash and overdraft limits as of 30 June 2026 was RON 2,813 mn., mainly due to the lower level of use of the short term and overdraft limits on ELSA and supply segment. For distribution segment no utilization was registered. The level of cash on 30 June 2026 was RON 1.786 mn., slightly lower than previous reporting periods. The main contributor for the Group cash is the distribution segment. ❑ The Group is taking all the necessary formalities with its partner banks to contract and roll over lines of credit to ensure the liquidity. Moreover, the cash pooling structures allow the Group to optimize the use of liquidity between companies and to quickly cover unforeseen liquidity needs. ❑ The level of receipts, payments and liquidity is monitored continuously and closely at the level of each company of the Group and consolidated, in order to detect any deviation in due time. 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 #REF! #REF! 466 701 2,098 1,786 627 1,109 742 1,027 1,093 1,810 2,840 2,813 31-Dec-24 30-Jun-25 31-Dec-25 30-Jun-26 Cash, cash echivalents and deposits Available overdraft limits TOTAL
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30 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Improved Debt Maturity Profile SOURCE: Company data Maturity profile of bank borrowings and bonds in H1 2026* (RON mn.) Bank borrowings and bonds Long term vs Short term (RON mn.) 3,374 3,057 2,812 2,581 794 1,825 2,783 2,649 2,525 2,601 4,168 4,882 8,120 7,831 2023 2024 2025 H1 2026 Short term Long term - Banks Long term - Green Bonds 2,477 380 699 1,570 104 2,608 2,581 373 3,307 1,570 less than 1 year 1-2 years 2-5 years > 5 years Bank Borrowings Green bonds • RON 104 mn: In July 2025, the Company issued EUR 500 million green bonds maturing on July 14, 2030, redeemed at nominal value at maturity . The coupon rate is 4.375% payable annually. As of 30 June 2026, the accrued balance under 1 year totals RON 104 mn, comprising the gross annual coupon liability of RON 110 mn payable in July 2026, offset by RON 6 mn in net unamortized issue premium and capitalized transaction costs. • RON -7mn: Cash out paid for the transaction related services at the moment of the issuance deferred during the contractual period. For 1-2 years this amount represents transaction costs paid, which is deferred -7
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31 GROUP’S FINANCIAL RESULTS Distribution of dividends 245 292 251 245 248 246 248 153 40 40 60 100 250 292 251 245 283 245 283 306 23 22 66 88 97.7% 100.0% 100.0% 100.0% 87.4% 100.5% 87.5% 50.0% 173.7% 183.7% 91.2% 113.3% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025* Distributed dividends Distributable profit Payout ratio 100% 0.7217 0.8600 0.7415 0.7237 0.7300 0.7248 0.7300 0.4500 0.1178 0.1178 0.1767 0.2945 6.1% 6.9% 5.2% 7.3% 6.8% 6.9% 6.0% 5.2% 1.4% 0.9% 1.2% 1.0% 2014 2015 2016 2017 2018 2019* 2020 2021 2022 2023 2024 2025* 269.5 300.9 265.0 258.2 298.0 257.8 298.4 321.8 24.3 23.9 69.3 93.1 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025* Note (1) Dividend yield (%) is calculated as Gross Dividend per share/Closing share price on BSE at each ex-date; for 2025 it is calculated at the date of AGM approval, since ex-date follows (2) Dividend payout ratio is calculated as Gross Dividends/Net profit distributable to dividend, where Net profit distributable to dividends is Net profit according to individual financial statements of Electrica SA less the legal reserves. For 2019, the net distributable profit included also the net gain from the SPO, amounting to RON 1.2 mn For 2022, in addition to the net distributable profit of RON 23.026 mn, after legal reserves appropriation, there was approved to be distributed in dividends an amount of RON 16.97 mn from other reserves. For 2023, in addition to the net distributable profit of RON 21.780 mn, after legal reserves appropriation, there was approved to be distributed in dividends an amount of RON 18.22 mn from other reserves. *For 2025, in addition to the net distributable profit of RON 88.23 mn, after legal reserves appropriation, there was approved to be distributed in dividends an amount of RON 11.77 mn from other reserves. Distributed gross dividends and distribution rates(2) (2014 – 2025) (mn. RON / %) Gross dividend per share (RON) and Dividend Yield(1) (%) Standalone net profit (2014 – 2025) | SOURCE: BVB. COMPANY * Note: Dividends refer to each financial year indicated and are paid during the following year
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Main Corporate Events3
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33 MAIN CORPORATE EVENTS Relevant Corporate Events in 2026 and up to date (1/6) ▪ On 29 April 2026, the EGMS and OGMS took place, physically and online, through the voting platform https://electrica.voting.ro/, as well through the mobile application Electrica IR, with a quorum of 92.672800503% of the total voting rights, respectively of the Company's share capital, for the OGMS, respectively of 92.008536611% of the total voting rights, of the EGMS, which approved, mainly: o The Consolidated and Standalone Financial Statements for the year 2025, according to OMFP 2844/2016 and IFRS-EU, based on the BoD Report, integrated with Sustainability Reporting, and on the Auditor's Report o Electrica’s BoD proposal regarding the distribution of the net profit of the financial year 2025, respectively the approval of the total value of gross dividends of RON 99.998 mn. and the value of the gross dividend per share of RON 0.2945, as well as the approval of the dividend payment date for the financial year 2025 as 25 June 2026. Ex-date is 2 June 2026, and the registration date is 3 June 2026. o The approval of 2025 Annual Financial Report acc. To art. 65^1 of Law 24/2017. o The 2026 budgets, at consolidated and standalone level o The election of Ms. Loredana Chitu, as member of the Company’s Board of Directors to fill in the vacant position, following the resignation of Ms. Valentina Siclovan. The duration of the mandate of the elected director will be equal to the remaining period until the expiry of the mandate for the vacant position, respectively until 26 January 2028. o Approval of the appointment of KPMG Audit SRL, as financial auditor and auditor for the Sustainability Reporting for the financial years 2026, 2027 and 2028, starting from 30 April 2026 until 31 May 2029. o Approval of amendments to the Articles of Association in accordance with the recent legislative changes to Law 24/2017 and Law 31/1990; o Approval of the issuance of bonds by Electrica through a bond issuance program (the "Program"), up to an aggregated ceiling of EUR 1,000,000,000 (or the equivalent in other currencies) in the period 2026-2027. o Approval of contracting by Electrica of one or more secured / unsecured loans in a total amount of up to EUR 1,000,000,000 (of a "bridge" type compared to the bonds to be issued by the Company), based on a credit agreement/credit agreements (generically referred to as the "Credit Agreement") concluded with one or more financial institutions (the "Financing Parties"), having a repayment term of up to maximum 24 months from the disbursement date of each relevant loan. ELSA’S GMS MORE HERE: https://www.electrica.ro/en/investors/2026-gms/general-meeting-of-shareholders-on-29-april-2026/
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34 MAIN CORPORATE EVENTS Relevant Corporate Events in 2026 and up to date (2/6) ▪ On 19 and 20 August 2026, the EGMS took place, physically and online, through the voting platform https://electrica.voting.ro/, as well through the mobile application Electrica IR, with a quorum of 40.2049592% on 19 August 2026 and respectively 89.9844% on 20 August 2026 of the total voting rights, which approved, mainly: o The Craiova investment project, respectively the construction of electricity and thermal energy production capacities, auxiliary and related equipment/capacities, internal electrical grid, electrical transformer station, land enclosure, the supply of thermal energy for the Craiova District Heating System (SACET) (“Objective 1” – SACET CHP) and the supply of thermal energy for heating and technological processes for the industrial consumer FORD OTOSAN ROMANIA (“Objective 2” – Ford Otosan CHP) – in the Municipality of Craiova, Dolj County”, with a total investment value of up to EUR 235 million, plus VAT, for both investment objective. The EGMS approved also all the necessary contracts, the mandates necessary for the implementation and the financing for the project. o The centralization by ELSA of the existing credit facilities at the level of ELSA and EFSA, DEER and FISE, with the exception of certain non-cash facilities whose total value is to be determined during the centralization process, through the contracting by ELSA of one or more loans from one or more commercial banks / banking syndicate / international financial institutions, up to a total amount of RON 8.7 billion (each referred to as a ”Credit Agreement” and together as the ”Credit Agreements”) and the set up of the related guarantees. When establishing the threshold, the loans as reflected in the Simplified Interim Consolidated Financial Statements as of and for the three-month period ended 31 March 2026, were taken into account. The EGMS approved also all the necessary mandates for the implementation of the operations. Starting with the 2025 Annual General Meeting, shareholders can vote online also via the Electrica IR mobile application, available on both Android and Apple mobile devices. Electrica has been offering electronic voting through the platformhttps://electrica.voting.ro since June 2022. ELSA’S GMS Electrica IR on Android Electrica IR on Apple MORE HERE: https://www.electrica.ro/en/investors/2026-gms/general-meeting-of-shareholders-on-29-april-2026/
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35 MAIN CORPORATE EVENTS ▪ On 26 February 2026, Electrica BoD decided to revoke Mr. Stefan Alexandru Frangulea from the position of Chief Financial Officer (CFO) without cause, starting with 26 February 2026, this being the last day when the mandate contract takes effect. ▪ On 27 March 2026, Electrica’s BoD endorsed and submitted for the approval of the GMS (documents published here) the following: o The Consolidated and Standalone Financial Statements for the year 2025, according to OMFP 2844/2016 and IFRS-EU, based on the BoD Report, the Sustainability Reporting, and the Auditor's Reports o The Electrica’s BoD proposal regarding the distribution of the net profit of the financial year 2025, respectively the approval of the total value of gross dividends of RON 99,998,360 mn. and the value of the gross dividend per share of RON 0.2945, as well as the approval of the dividend payment date for the financial year 2025 as 25 June 2026. Ex-date is 2 June 2026, and the registration date is 3 June 2026. o The 2026 budget at the consolidated and standalone levels o Changes to the Articles of Association o Bond issuance of up to 1 billion EUR in 2026 and 2027 and a 1 billion credit of type “bridge-to-bond” ▪ On 27 March 2026, Electrica’s BoD supplements the convening notice dated 6 March 2026 of the Ordinary General Meeting of Shareholders (OGMS) and of the Extraordinary General Meeting of Shareholders (EGMS) of Electrica dated 29 April 2026, regarding the agenda of the EGMS (the agenda of the OGMS will remain unchanged ▪ On 27 March 2026, Electrica’s BoD approved the 2026 Consolidated value of the Investment Plan (CAPEX) of the Electrica Group: RON 1,914.2 mn. The approved figures for the financial part of the individual investment plans of the companies in the Group for 2026 are the following: MAIN DECISIONS OF THE BOD Relevant Corporate Events in 2026 and up to date (3/6) Company CAPEX 2026 (mn. RON) Electricity Distribution Subsidiary – Distributie Energie Electrica Romania S.A. 995.0 mn. Holding Company - Societatea Energetica Electrica S.A.* - individual plan 244.4 mn. Electrica Furnizare S.A., the subsidiary providing electricity and natural gas 46.7 mn. Energy Services Subsidiary - Electrica Serv S.A. 9.7 mn. Sunwind Energy S.R.L. (SWE) – photovoltaic project development company, Satu Mare 2 5.0 mn. New Trend Energy S.R.L. (NTE) – photovoltaic project development company, Satu Mare 3 143.4 mn. Foton Power Energy S.R.L. (FPE) – photovoltaic project development company, Bihor 1 172.2 mn. Crucea Power Park S.R.L. (CPP) – wind project development company, Crucea Est 297.7 mn. TOTAL 1,914.2 mn
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36 MAIN CORPORATE EVENTS ▪ On 25 May 2026, Electrica’s Board of Directors decided to change the composition of its Climate Governance and Public Affairs committee, effective from 25 May 2026, until 31 December 2026, as follows: Ms. Georgiana Bogasievici – Chair, Mr. Dragos -Valentin Neacsu Member, Ms. Loredana-Norica Chitu – Member. ▪ On 29 June 2026, the Board of Directors decided to convene the Extraordinary General Meeting of Shareholders (EGMS) on 19-20 August 2026, at 10:00 (Romanian time). More details regarding the agendas of EGMS can be found on Electrica’s official website, here. ▪ Also, on 29 June 2026, its Board of Directors decided to reduce the share capital of its subsidiary Electrica Furnizare (EFSA) by RON 150 mn., through a cash return to the shareholders of a portion of their contributions, proportional to the share capital reduction, calculated equally for each share. ▪ On 15 July 2026, Board of Directors approved the conclusion of ELSA-EFSA transactions entitled “Issuance of a Parent Company Guarantee Letter by ELSA, at the request of EFSA” based on Electrica's financial auditor, KPMG Audit SRL, Limited Assurance Report , issued on 14 July 2026. ▪ On 28 July 2026, Board of Directors approved the conclusion of ELSA-EFSA transactions entitled “Loan Agreement term extension by ELSA at the request of EFSA by Addendum no.2 to the loan contact no.50/29.07.2025” based on Electrica's financial auditor, KPMG Audit SRL, Limited Assurance Report , issued on 24 July 2026. MAIN DECISIONS OF THE BOD Relevant Corporate Events in 2026 and up to date (4/6)
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37 MAIN CORPORATE EVENTS Relevant Corporate Events in 2026 and up to date (5/6) OTHER RELEVANT EVENTS ▪ On 22 January 2026, Electrica published 2026 Financial Calendar. ▪ On 29 January 2026, Electrica published the key preliminary indicators for Q4 2025 and FY 2025 ▪ On 13 February 2026, Electrica informed its shareholders that NN Group N.V. shares dropped below 10%, reaching 9,98% of the total voting rights of Electrica. ▪ On 24 February 2026 Electrica and Liberty Galați S.A. sign a Memorandum of Understanding for the Development of Green Energy Production (Photovoltaic) and Storage Capacities of up to 500 MW ▪ On 3 March 2026, Electrica announced that Fitch Ratings Reaffirms the Outlook of Electrica’s rating to ‘BBB-‘ Stable. ▪ On 6 March 2026, Electrica published the Convening Notice for the convening of the Extraordinary and Ordinary General Meeting of Shareholders on 29 April 2026 ▪ On 16 March 2026, Electrica announced the submission of a bid within the concession procedure for thermal and electrical energy production in Craiova Municipality ▪ On 27 March 2026, Electrica published a report regarding the new 4-year mandates for the CEO and CBDO, and appointment of an interim CFO ▪ On 27 March 2026, Electrica published the 2025 financial statements (IFRS-EU and OMFP 2844/2016) ▪ On 27 March 2026, Electrica also announced the availability of Electrica's 2025 Annual Report ▪ On 7 May 2026, Electrica informed its investors that on 6 May 2026 Electrica and its subsidiary Electrica Furnizare S.A. (EFSA) signed the share purchase agreement for 100% of the share capital of the company Electrica Furnizare Grup SRL – Chisinau, a limited liability company registered in the Republic of Moldova. The objects of activity of this company are: electricity production; electricity and gas supply/trading; electrical installation works. ▪ On 11 May 2026, Electrica published the key preliminary indicators for Q1 2026 ▪ On 21 May 2026, Electrica announced the 2025 Dividends payment method ▪ On 27 May 2026, Electrica released the interim report for first quarter 2026. MORE HERE: https://www.electrica.ro/en/investors/results-and-reports/current-reports/
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38 MAIN CORPORATE EVENTS Relevant Corporate Events in 2026 and up to date (6/6) OTHER RELEVANT EVENTS • On 28 May 2026, Electrica organized a conference call for analysts and investors regarding the Presentation of Electrica Group's Q1 2026 financial results. The presentation, transcript, and recording of the conference call are available here. • On 29 May 2026, Electrica announced the completion of the competitive procedure for selecting an EPC Contractor and the signing, by its subsidiary Foton Power Energy S.R.L., of an EPC (Engineering, Procurement & Construction) contract for the "Bihor 1" photovoltaic project, details here. • On 11 June 2026, Electrica signed a five-year strategic partnership with the Atlantic Council in Washington D.C. Through this agreement, Electrica joins the Atlantic Council's presence in Bucharest as a founder of the Atlantic Council Romania, becomes a Founding Partner of the Vertical Energy Corridor report on energy security along Europe's Eastern flank, which will be published this year, and takes a seat on the Romania Advisory Council. Details here. • On 16 June 2026, Electrica informed investors and shareholders that it was designated the winner within the public tender procedure organized by the Municipality of Craiova, having as its object: 'Delegation by concession of the heat and electricity production activity, based on cogeneration and/or renewable energy sources in the Municipality of Craiova'. Details here. • On 23 June 2026, Electrica announced the completion of the competitive procedure for selecting an EPC Contractor and the signing, by its wholly owned subsidiary New Trend Energy S.R.L., of an EPC (Engineering, Procurement & Construction) contract for the "Satu Mare 3" photovoltaic project. Details here. • On 26 June 2026, Electrica informed shareholders and investors that it secured non-reimbursable EU funding of approximately RON 4.9 mn. through the Modernisation Fund for the project 'Construction of a battery energy storage capacity, related facilities, transformer substations, internal electrical networks, connection installation, fencing and access roads for Vulturu PV Plant', which will be implemented in Vulturu commune, Vrancea county. Details here. • On 30 June 2026, Electrica announced that it obtained Technical Approvals for Connection (TAC) for 17 electricity storage projects, totalling 700 MWh. Details here. • On 7 July 2026, Electrica informed bondholders, investors and the market regarding the payment procedure for the first annual interest (coupon). More details here. • On 14 July 2026, Electrica published the annual disclosure on gender balance in management bodies, pursuant to Art. 109^6 of Law no. 24/2017. Details here. Also on 14 July 2026, Electrica informed bondholders, investors and the market regarding the status of the allocation of funds obtained from the EUR 500,000,000 green bond issuance. Details here. • On 10 August 2026, Electrica published the preliminary key operational indicators for the second quarter of 2026 and for the first semester of 2026. • On 24 August 2026, Electrica signed the contract for high-efficiency natural gas Cogeneration Plant in Craiova. From the design phase, the plant is conceived as a flexible unit, hydrogen-ready, and equipped with black-start capabilities. MORE HERE: https://www.electrica.ro/en/investors/results-and-reports/current-reports/
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Group Strategy and Sustainability 4
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40 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Electrica Group – 2030 Corporate Strategic Objectives (updated December 2024) o Renewable energy production - Target 2030 - 1000 MWh, o Energy storage 2030 target: 900 MWh o Analysis of the possibilities of implementing predictable web production solutions o Opportunities – advanced forms of energy storage, such as hydrogen or other emerging technologies o Implementation of the investment plan worth at least 3.7 bln. lei in the next 5 years (agreed with ANRE in PR5) o Reducing costs with network losses o Automation of transformer stations and substations – 2030 target: 100% substations and 15% transformer substations Increasing grid capacity to integrate renewable generation o Implementation of smart grid solutions - Target 2030: minimum 70% total refurbished assets o Introduction of new value-added services for the profitable growth of the B2B and B2C segments – energy efficiency, smart home, complementary services (advanced digital ecosystems, EVC, energy storage, AI, IoT, etc.) o Implementation of a network of charging points for electric vehicles - 2030 target: 500 charging points on main routes o Sustainable growth of the electricity supply market share - Target: 18-20% by 2030 o Optimizing processes and reducing operational costs by optimizing processes, developing the feedback system and increasing the efficiency of field teams o Performance Management o One SAP and Process Automation (RPA) – 2030 Target: 80% o Automation of the customer interface (contracting, invoicing, chatbots, etc.) - 2030 target: 80% o Transition to predictive maintenance through digital systems for 100% of the assets critical to the distribution activity o Workforce Management o Strengthening cybersecurity o Skills development and employee retention: • Development and acceleration of the internal training and professional development program • Development of programs and partnerships with academia and industry associations • Cultural transformation – realigning the organizational culture to the vision, mission and core values of the organization o Development and implementation of ESG practices: on all three dimensions (environmental, social, governance) Sustainable growth of profitability Development of energy production and storage capacity Sustainable growth of profitability Development and modernization of distribution infrastructure Sustainable growth of profitability Diversifying the services offered to customers Streamlining operations Operational optimization Streamlining operations Digitalization Sustainable development | MORE INFORMATION HERE: ELECTRICA 2030: STRATEGY FOR A SUSTAINABLE AND INNOVATIVE FUTURE
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41 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Driving Growth Through Sustainable Practices Electrica Group is committed to driving sustainable growth through innovation, operational excellence and responsible governance. In 2024, the Group’s Sustainability Strategy covering 2025-2030 was updated with the aim to contribute to Romania’s energy transition and align its operations with EU climate goals. Strategic pillars (2025–2030) Decarbonisation • Digitalisation • Diversification Green Energy & Modern Infrastructure ✓ Expansion of renewable energy generation and storage capacity Diversified Services for the Green Transition ✓ Tailored solutions for consumers, prosumers, energy efficiency and e- mobility Environment Safety, Development & Inclusion ✓ Workforce training, diversity and a safe working environment Social Responsibility ✓ Community engagement through CSR initiatives (i.e. Electrica Foundation projects) Digitalization & Innovation ✓ Smart grids, predictive maintenance, and AI-driven operations Responsible Governance ✓ ESG integration, ethical business practices and stakeholder engagement ✓ Strategy endorsed by the Board of Directors and the Climate Governance & Public Affairs Committee Social Governance
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42 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Strategic Advantage via CSRD and ESRS Integration Starting 2025, Electrica released its Sustainability Statement aligned with CSRD and ESRS requirements. As part of the Annual Report, the Sustainability statement sits alongside the Directors’ Report and Financial Statements and incorporates a double materiality assessment spanning financial and impact factors across the Group’s operations and value chain. This process built on eight years of Sustainability Reports was guided by internal ESG teams and validated through external assurance Electrica ensures ESG governance at every level, guided by the Climate Governance & Public Affairs Committee. Electrica Group has implemented GHG emissions monitoring across Scope 1, 2, and 3 using the GHG Protocol. This enables: ✓ Tracking emissions across all subsidiaries ✓ Improving data accuracy through supplier collaboration ✓ Investments in renewable energy and hybrid fleets to reduce Scope 1 emissions Carbon Footprint Monitoring & Climate Strategy Electrica has made significant progress on the social pillar of ESG: ✓ 98% of employees are unionized, ensuring strong social dialogue and labor rights protection ✓ Employee satisfaction surveys and feedback mechanisms are used to improve internal communication and engagement ✓ Training programs and dual education initiatives support workforce development and generational knowledge transfer Social Impact & Workforce Engagement
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43 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Climate Risk Assessment – A Board Decision Support Tool ➢ In 2025, Electrica completed a comprehensive climate-risk assessment covering multiple time horizons: 2030, 2050 and 2100 using two official IPCC scenarios (SSP2-4.5 and SSP5-8.5). This analysis integrates both acute and chronic physical risks, as well as transition risks, ensuring a consistent and forward-looking view of potential impacts on operations, assets, suppliers and customers; ➢ Beyond compliance with CSRD/ESRS and the EU Taxonomy, the analysis delivers strategic insights into how climate risks may influence operational continuity, investment decisions and long-term value creation and highlights Electrica’s climate-risk exposure and quantifies the financial impact on key infrastructure; ➢ Integrating climate-risk assessment into the governance and risk-management framework strengthens Electrica’s business resilience and enables more informed capital allocation, prioritization of adaptation actions and enhanced disclosure for investors and shareholders. At the end of 2025, Electrica completed a comprehensive climate-risk assessment covering multiple time horizons: 2030, 2050 and 2100 using two official IPCC scenarios (SSP2-4.5, moderate emissions and SSP5-8.5, high-emissions). This analysis integrates both acute and chronic physical risks, as well as transition risks, ensuring a consistent and forward-looking view of potential impacts on operations, assets, suppliers and customers at Group level. Beyond compliance with CSRD/ESRS and the EU Taxonomy, the analysis delivers strategic insights into how climate risks may influence operational continuity, investment decisions and long-term value creation and highlights Electrica’s climate-risk exposure and quantifies the financial impact on key infrastructure. Integrating climate-risk assessment into the governance and risk-management framework strengthens Electrica’s business resilience and enables more informed capital allocation, prioritization of adaptation actions and enhanced disclosure for investors and shareholders. Conducting a climate study is not a compliance exercise – it reflects the resilience of the business model
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44 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) ✓ Climate risks have become a direct determinant of operational costs, infrastructure resilience and competitiveness; ✓ Climate risks are not “environmental issues” - they are business risks that affect assets, operations, people and investments; ✓ They must be assessed and reported in accordance with CSRD/ESRS and the EU Taxonomy; ✓ “Medium Green” and “Dark Green” investors explicitly request information on exposure to climate risks; ✓ Climate-risk assessment is becoming an integral part of corporate governance and risk management; ✓ Climate risks are now embedded in stress-testing, IFRS evaluations and auditor expectations. Climate Risk Assessment – A Board Decision Support Tool (continued) Why Climate Risks Matter at Board Level?
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45 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Climate Risk Assessment – A Board Decision Support Tool Why This Climate Study Matters for Electrica Group Financing & Business Stability ✓ Without this analysis, financing could become more expensive or restricted; ✓ Climate risks pressure operations: higher OPEX/CAPEX, asset downtime, insurance gaps and network safety issues; ✓ Extreme weather causes operational outages with immediate financial and reputational impact; ✓ Rising exposure to losses demands targeted adaptation and resilience investments. What Investors & Lenders Expect ✓ Clear visibility into short-, medium- and long-term climate-risk exposure; ✓ Concrete adaptation measures, timelines and cost estimates to assess resilience; ✓ EU Taxonomy alignment and proof of sustainable activities to secure capital and maintain investment attractiveness.
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46 Electrica’s Inaugural Green Bond - Financing the Energy Transition EUR 500 MN. Coupon 4.375% annual 5 years tenor; maturity - 14 July 2030 Registered, non- convertible, Senior, Unsecured, Reg. S Issue Rating BBB- (Fitch) Net proceeds – for Eligible Green Projects, in acc. with the GFF Listed on LuxSE and BSE The green bond issuance carried out by Electrica in July 2025 marked a milestone in the implementation of the commitments set out in the Corporate Strategy and the Sustainability Strategy 2025-2030. With a total value of EUR 500 million, the inaugural issuance was oversubscribed by 11.5 times, demonstrating institutional investors’ strong confidence in the company’s strategic direction. The funds raised through Electrica's first bond issue will be used to finance and/or refinance eligible green projects, which involve projects related to renewable electricity, in accordance with the provisions of Electrica's Green Finance Framework (GFF) and the prospectus approved by the CSSF.
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47 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Electrica’s Sustainability Commitment: Green Projects at the Core Electrica’s focus is currently on renewable energy generation, grid modernization, and energy storage investments that support Romania’s low-carbon transition. The Sustainability Strategy 2025-2030 is built on 6 pillars Green energy & modern infrastructure Diversified services aligned with the green transition Social inclusion and workforce development Operational excellence through digitalization Responsible governance and ethical business practices Community engagement and social responsibility Strong Governance with Independent Oversight by a dedicated committee reporting to the Board Integration of ESG KPIs into executive performance metrics Concrete Actions Investing in solar, wind, and BESS to reduce environmental impact Expanding grid capacity to integrate renewable generation Launching innovative services to support prosumers & efficiency Implementing ISO-certified systems across operations Promoting a culture of safety, inclusion, and continuous learning Transparent reporting aligned with CSRD, ESRS, and UN SDGs SOURCE: Company data 2025 Green Bonds Issuance - Anchored in Electrica’s 2030 Corporate & Sustainability Strategies
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Shareholdings’ structure and evolution of the shares and GDRs5
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49 Monthly Volume and Average Price (Volume Weighted) of Electrica’s Shares and GDRs (1 June 2025 – 31 Aug 2026) • Market Capitalization: on 31 Aug 2026: RON bn. 17.72 • Closing price on first day in 2026: on BSE – RON 27.35 ; on LSE – USD 15.80 • Closing price on 31 Aug 2026: on BSE – RON 52.2 ; on LSE – USD 15.80 • Highest closing price in 2026: on BSE – RON 56.7; on LSE – USD 15.80 • Historical maximum closing price on BSE – RON 56.7 (24 Aug 2026) ; on LSE USD 15,80 USD (unchanged since 4 Aug 2025) • Total liquidity in a 6-month period – RON 440 mn. (10th place on BSE) • Total liquidity in 2025 – RON 403 mn (10th place) • Total liquidity in 2026 – 16.98 mn shares traded, RON 598.4 mn. • Market Capitalization: on 31 Dec 2025: RON bn. 8.95 • Market Capitalization: on 31 Aug 2026: RON bn. 17.72 • IPO price – RON 11; USD 13.66 • Closing price on first day: on BSE – RON 11.25 ; on LSE – USD 13.80 • Highest closing price in 2026: on BSE – RON 26.35; on LSE – USD 15.80 (both on 30 Dec 2025) • Lowest closing price (historical): on BSE – RON 6.10 (29 Sep 2022);
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50 SHAREHOLDINGS’ STRUCTURE AND EVOLUTION OF THE SHARES AND GDRS 30-Dec-25, 55.21 30-Dec-25, 100.96 -60 -40 -20 0 20 40 60 80 100 120 30-Dec-24 30-Jan-25 28-Feb-25 31-Mar-25 30-Apr-25 31-May-25 30-Jun-25 31-Jul-25 31-Aug-25 30-Sep-25 31-Oct-25 30-Nov-25 31-Dec-25 BET-TR Electrica adjusted price with dividends Electrica’s adjusted closing price vs BET-TR – in % 1 Jan 2025 - 31 Dec 2025 1 Jan 2026 – 31 August 2026 31-Aug-26, 42.09 31-Aug-26, 99.22% . % . % % .
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51 SHAREHOLDINGS’ STRUCTURE AND EVOLUTION OF THE SHARES AND GDRS 78,705 80,892 77,330 77,493 77,294 19,648 78,728 79,632 79,800 16,995 124,081 271,539 114,403 130,317 247,766 53,498 43,205 92,612 70,000 99,691 42,912 27,028 90,494 71,008 70,295 27,340 69,612 70,541 101,292 70,846 70,280 72,806 23,643 78,299 81,440 88708.5 97849.5 142168.5 89236 74561 77990 37523 71390 106689 76,678 68,203 0 50,000 100,000 150,000 200,000 250,000 -20,000 30,000 80,000 130,000 180,000 230,000 280,000 Monthly Median Volume FTSE Russell Criterion (admission) FTSE Russell Criterion (maintenance) Electrica’s Median monthly volume vs FTSE Russell liquidity threshold (admission and maintenance) - 1 January 2023 – 31 Aug 2026 Electrica met all the criteria required for inclusion in the FTSE Russell indices within 10 months of 2023, with the official announcement regarding its admission to the above - mentioned indices being made on 27 February 2024, while the effective inclusion took place during the trading session of 18 March 2024. The calculation was performed based on the free-float threshold at the end of January 2024. For continued inclusion in the FTSE Russell indices, the criteria are 20% less stringent than those required for initial admission. Specifically, the median trading volume must represent 0.04% of the free float and must be met in 8 out of 12 months (across two consecutive semesters). The first five confirmations of continued inclusion were received on 23 August 2024, 24 February 2025, 23 August 2025, 20 February 2026, 21 August 2026. The maintenance criteria were met in 7 out of 8 months in 2026. From 21 September 2026, Electrica will be considered by FTSE in the large cap category. | SOURCE: COMPANY DATA
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Appendices Regulatory Aspects – Distribution Regulatory Aspects – Supply Regulatory Aspects – Production 6
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53 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (1/7) ❑ RP5 Regulations on Distribution tariffs o RRR: for RP5 was approved by ANRE Order no. 55/6.08.2024, the value of 6.94% for RRR. o Methodology for establishing distribution tariffs - for RP5 was approved by ANRE Order no.67/17.09.2024 o Investment Plan for RP5 was approved by ANRE Order no.97/20.12.2024 o Distribution tariffs approved for 2026 - applicable starting with 1st of January 2026, was approved by ANRE Order no.77/18.12.2025 DISTRIBUTION ACTIVITY ❑ ANRE Order no.97/2024 regarding the approval of the investment plan: o values of RP5 investment plans for DEER: 3,702 million RON from own sources and 2,984 million RON from financial contributions, o minimum mandatory value for investments made from own sources: total 3,569 million RON of which 3,034 million RON in grid ❑ ANRE Order no.77/2025 regarding the approval of the specific tariffs: o ANNEX No. 1 contains the distribution tariffs for DEER starting with January 1, 2026, almost zero average adjustment compared to January 1, 2025 o ANNEX No. 2 contains the values of the annual maintenance plans corresponding to the 5th regulatory period ❑ ANRE Order No. 15/21.05.2026 (The Grid Connection Regulation) and Order No. 16/21.05.2026 (The Regulation for Licenses and Authorizations) o the hike in connection guarantees from 5% to 20% limits financial risks for network operators if projects are abandoned. o higher guarantees reduce speculative capacity reservations, helping operators ensure efficient grid use. o network operators can now request 12-month extensions for connection contracts if grid reinforcement or connection works are delayed. o operators face stricter accountability for completing their designated works 175.26 229.96 238.63 144.73 182.24 190.16 158.84 171.97 185.49 236.10 240.02 56.70 69.44 74.69 57.49 71.38 74.86 54.52 62.32 63.05 80.69 83.36 23.35 31.23 34.72 23.77 29.09 31.22 24.63 28.48 29.55 34.14 31.96 - 50.00 100.00 150.00 200.00 250.00 300.00 Apr-22 Apr-23 Jan-24 Apr-22 Apr-23 Jan-24 Apr-22 Apr-23 Jan-24 Jan-25 Jan-26 MN TN TS DEER DEER LV MV HV -6.4% +3.3% +1.7% 2 6 / 2 5
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54 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (2/7) ❑ The methodology for establishing distribution tariffs for RP5 was approved by ANRE Order no. 67/17Sep2024 and entered into force on 20Sep2024 I. OPEX: ▪ OPEXC and the efficiency factor will be established based on the OPEX study, carried out by ANRE. ▪ PEX is not subject to efficiency and will be adjusted annually with the inflation rate (IR) and by 5%, correlated with the real wage growth index published by the NSFC ▪ Research and development costs will not be subject to efficiency and can be requested by DSOs in the amount of a maximum of RON 5 million per RP5 total. ▪ Non-recognition of costs with affiliates for representation, regulatory advice and profit with subcontracted parties. ▪ The inflation correction between realized and forecasted IR will be applied to PEX only if the difference is positive. II. RAB / CAPEX ▪ RAB RP5 will be inflated with the forecasted IR used to calculate the RRR. ▪ Investments in the form of updates of IT applications or databases will not be recognized in RAB, they will be recognized as OPEX NC. ▪ Endowment-type assets will be recognized in RAB if DSO demonstrates their efficiency. III. RRR incentives ▪ An incentive of 0.5% will be granted for investments in networks made within the projects co-financed from non-reimbursable EU funds. ▪ An incentive of 1% is granted for the value that exceeds the minimum mandatory value for grid investments. ▪ The RRR will increase or decrease by 0.5%, depending on the level of performance achieved regarding the development of a smart grid; ▪ RRR is reduced by 2% for investments in endowments Commissioning in RP5 (administrative buildings and tangible and intangible fixed assets). As an exception, the RRR is not reduced in the case of equipment used for works in the grid and which lead to the maintenance and/or improvement of the grid parameters. IV. NL ▪ NL targets will decrease linearly during RP5 by 15% for LV and by 6% for MV. ▪ The recognized NL price will not exceed the weighted average of the prices realized by the DSOs, plus 5%. ▪ In the periods of crisis on the energy market, declared by normative acts, the NL price realized by the DSOs will be recognized. V. Revenues and tariffs ▪ The regulated revenue will consist of non-NL revenue and NL revenue, the non-NL revenue is linearized, and the average tariff component will be capped at 10%. ▪ The NL revenue is the basis for the establishment of NL tariffs that will be recovered from both consumers and producers. ▪ Pole rental activity will be regulated and will be included in distribution service revenue. DISTRIBUTION ACTIVITY
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55 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (3/7) ❑ ANRE Order no. 97/20.12.2024 regarding the approval of the investment plans for the RP5. Annex 1 - Specific tariffs for the electricity distribution service applied by DEER, valid from 1 January 2026 Annex 2 - Values of the annual investment plans of DEER corresponding to PR5, broken down by financing sources Annex 3 - Minimum mandatory value for the total investments made from own sources and the minimum mandatory value for investments made in the electricity distribution networks from own sources for each year of PR5, for DEER DISTRIBUTION ACTIVITY Concessionaire distribution system operator Voltage level Specific tariff applicable from 1 Jan. 2025 (RON) Non NL Component NL useful Component NL useful_c Component (RON/MWh) (RON/MWh) (RON/MWh) (RON/MWh) (1) (2) (3)=(4)+(5)+(6) (4) (5) (6) DEER HV 34.14 26.32 7.03 0.79 MV 80.69 46.38 30.84 3.47 LV 236.10 146.35 80.68 9.07 Annex 1 Annex 2 Annex 3 Source of Financing Total 2025 2026 2027 2028 2029 Own Sources RON 3,701,999,999 706,000,000 727,000,000 747,000,000 754,000,000 768,000,000 Financial Contributions RON 2,983,592,121 336,316,227 650,632,738 646,009,906 643,386,176 707,247,073 T O T A L RON 6,685,592,120 1,042,316,227 1,377,632,738 1,393,009,906 1,397,386,176 1,475,247,073 Total 2025 2026 2027 2028 2029 Mandatory minimum value for the total investments made from own sources for each year of the fifth regulatory period (real terms 2024) RON 3,569,262,625 681,333,300 702,144,828 723,378,761 727,692,708 734,713,028 Mandatory minimum value for investments made in electricity distribution networks from own sources for each year of the fifth regulatory period (real terms 2024) RON 3,033,873,231 579,133,305 596,823,104 614,871,947 618,538,802 624,506,074
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56 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (4/7) ❑ ANRE Order no. 77/18.12.2025 regarding the approval of the specific tariffs for the electricity distribution service and the price for reactive electricity, valid from 1 January 2026, for DEER., as well as the values of the maintenance plans for the RP5. o ANNEX No. 1 contains the distribution tariffs for DEER starting with January 1, 2026, almost zero average adjustment compared to January 1, 2025 o ANNEX No. 2 contains the values of the annual maintenance plans corresponding to the 5th regulatory period DISTRIBUTION ACTIVITY Concessionaire distribution system operator Voltage level Specific tariff applicable from 1 Jan. 2026 (RON) Non NL Component Useful NL Component sc useful NL Component (RON/MWh) (RON/MWh) (RON/MWh) (RON/MWh) (1) (2) (3)=(4)+(5)+(6) (4) (5) (6) DEER HV 31.96 23.04 7.15 1.77 MV 83.36 43.61 31.86 7.89 LV 240.02 139.45 80.6 19.97 Annex 1 Annex 2 2025 2026 2027 2028 2029 RON (real terms 2024) 473,995,952 490,945,392 508,812,508 527,642,454 547,482,647
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57 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (5/7) ❑ ANRE order no. 53/30.07.2024 with the amendments contained in ANRE order no.79/2025 for the approval of the Methodology regarding the allocation of the electrical network capacity for the connection of the producers, as well as for the modification and completion of some ANRE orders in the field of connecting users to the public interest electrical network o The methodology is applied starting from 01.01.2026 and aims to establish the rules regarding the allocation by auction of the available capacities in order to connect production/consumption and producers, with installed powers greater than or equal to 5 MW. o This regulation will replace the current concept that establishes the obligation of connection applicants to participate in general strengthening works upstream of the connection point with a mechanism for allocating power network capacity based on auction. o The development and administration of the platform for auctions and the organization of the respective activity is carried out by the TSO. o Through this mechanism, the amounts collected through the auction for the additional electricity network development works, necessary to cover the requests of the applicants for capacity allocation, are used by the network operators for the development of the electricity networks. o The order revises the provisions of the Regulation regarding the connection of users to the public interest electricity networks, through measures that mainly refer to the establishment of the 5% financial guarantee provided for in the permit connection (ATR) issued for production/consumption and new producers with installed power greater than 1 MW regardless of whether or not the connection solution provides for strengthening works in the electrical networks upstream of the connection point. ❑ ANRE Order no.59/29.07.2025 for the approval of the Methodology for establishing performance indicators in relation to the development of smart grid that promotes energy efficiency and the integration of electricity produced from renewable sources. o Establishing a set of indicators to monitor: A. the quality of the electricity distribution/transportation service; B. integration of electricity production from renewable sources (RES), storage facilities and flexibility services; C. the level of digitization of grid. o The evaluation of the performance of each network operator (NO) is done through a composite performance indicator, determined as a weighted average of the monitored indicators. o The monitoring of the indicators and the determination of the composite performance indicator is done annually, starting in 2027. o In 2024-2025, the composite indicator is determined as a weighted average based on quality indicators, production integration indicators, storage facilities and flexibility services, and the weighting coefficients are equal. o For the indicators that reflect the degree of digitization of the networks, it is proposed to establish some targets that must be reached by the OR. o Thresholds against which the RRR is increased or decreased by 0.5% depending on the value achieved in a year of the composite performance indicator: i. if it is higher than 90%, the RRR is increased by 0.5%; ii. if it is lower than 70%, the RRR is decreased by 0.5% DISTRIBUTION ACTIVITY
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58 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (6/7) ANRE Order No. 15/21.05.2026 – Order amending and supplementing certain orders of the President of the National Energy Regulatory Authority in the field of user connection to the public interest electricity network o the value of the financial guarantee constituted by users for the issuance of the technical connection permit (ATR) for production sites or consumption and production sites is increased from 5% to 20% of the connection tariff value excluding VAT for total approved evacuation powers greater than 1 MW; o the Regulation and the Framework Connection Contract are supplemented with provisions regarding the establishment authorization issued by ANRE: ❑ deadlines are established within which this authorization must be obtained, namely a maximum of 12 months from the conclusion of the connection contract and 18 months from the ATR issuance date; ❑ a single extension of up to 12 months for these deadlines is permitted by the network operator if the establishment authorization cannot be obtained due to justified reasons not attributable to the applicant. o the applicability of the provisions of the Regulation, the framework ATR, and the Framework Connection Contract is explicitlyextended to individual storage facilities. o the Allocation Methodology is amended and supplemented to implement measures for securing capacity allocation requests: ❑ the deadline for constituting guarantees to participate in the capacity allocation procedure is brought forward to the moment allocation requests are submitted by applicants; ❑ the method for establishing the financial guarantee for participating in the capacity allocation procedure is reconsidered based on the auction year: ❑ for the year 2026, the guarantee is set at EUR 20,000/MW of requested capacity, calculated at the National Bank of Romania exchange rate valid on the issuance date; ❑ starting from 2027 inclusive, the guarantee is established as the minimum between EUR 20,000/MW and the weighted average contractual price resulting from capacity allocation auctions completed in the previous year, weighted by the allocated capacity. o the right of the network operator to request successive 12-month extensions of the connection contract duration is introduced, due to delays in grid reinforcement or connection works under its responsibility, ensuring reciprocal accountability rules similar to those applicable to users. ANRE Order No. 16/21.05.2026 – Order amending and supplementing the Regulation for granting establishment authorizations and licenses in the electricity sector, approved by Order of the President of the National Energy Regulatory Authority No. 6/2025 o the obligation to constitute a financial guarantee by applicants for establishment authorizations is introduced: ❑ the amount is set at EUR 30/kW related to the installed electrical capacity of the energy facility; ❑ the guarantee remains valid until the date of issuance of the hand-over/reception protocol upon completion of the power plant construction works. o the method of constituting the guarantee for hybrid projects or refurbishments involving an increase in installed capacity is regulated: ❑ the financial guarantee is calculated and constituted strictly based on the capacity surplus, determined as the difference between the installed capacity under the updated technical connection permit (ATR) and the initial ATR value. DISTRIBUTION ACTIVITY
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59 MAIN CORPORATE EVENTS Important Regulatory Changes – Distribution Activity (7/7) Law No. 160/2026 amending and supplementing Electricity Law No. 123/2012 regarding: o Multi-site compensation management: The Distribution System Operator (DSO) must allow prosumers to offset surplus energy across multiple consumption points, provided these points are connected to the network of the same DSO. o Provision of storage infrastructure: The updated definition of a prosumer explicitly includes their right to store energy, obligating the DSO to adapt connection terms to accommodate energy storage systems. o Assumption of imbalance responsibility: Although prosumers are exempt from financial responsibility for imbalances—a burden transferred to the supplier—the DSO plays a critical role in accurately measuring and reporting this data to prevent transferring unjustified costs to end-consumers. o Direct sales to other consumers: The DSO must enable and technically regulate scenarios in which prosumers sell energy directly to consumers connected directly to the power plant's busbars, bypassing the public grid. o Digitalization and metering: Implementing the updated definition of quantitative netting requires the DSO to provide metering equipment capable of transmitting detailed data regarding consumed, generated, and surplus-delivered energy to enable accurate monthly billing. DISTRIBUTION ACTIVITY
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60 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) • Specific tariffs applied to the customers (TDc) result by summing the following specific components: ➢ CTD non-NL VR nonNL / distributed quantity ➢ CTD NLuseful VR NLuseful / distributed quantity ➢ CTD NLusefulS VR NLusefulS / distributed quantity • CTD non-NL are limited to annual growth of 10% • Specific tariffs applied to the producers (TGD) result by summing the following specific components : ➢ CTGD NLuseful VR NLuseful / injected quantity ➢ CTGD NLusefulS VR NLusefulS / injected quantity Methodology for establishing distribution tariffs RP5 Revenue non NL 2 A OPEX 3 Contr 1 = + OPEX 3 Noncontr 2 + Reactive Revenue&other activities profit 5 Amortization 3 + RRAB 4 4 - + KVP 6 VR NL B VR Useful NL 7 = + VR NL useful S 8 + VR NL useful T 9 • Starting point and the efficiency factor Xinitial is approved according to OPEX Study made by ANRE • Cost categories: o operating and maintenance subject of efficiency, target Xinitial. o DSOs keep 40% of operating cost efficiency of maximum 5% o Staff (PEX), not subject to efficiency o Research & Development, maximum 5 Mil. RON total RP5 OPEX Controllable1 • Taxes, royalties, fees, special weather conditions • Special expenses: updates IT applications / databases OPEX Noncontrollable2 • It is determined based on historical amortization and new investments. • Linear amortization for 25 years of the initial RAB assets. • Amortization of the Commissioning year is recognized ex-post. Amortization3 • RRR 6.94% Existing RAB • Incentive 1.0% Grid investments that exceed 85% of regulated amortization • Incentive 0.5 % Grid investments from non-refundable • Incentive / penalty 0.5 % correlated with smart grid • 2% decrease buildings & facilities not contributing to the grid improvement RRAB4 • Values of reactive energy revenue and the profit from others activities that exceed 5% reduce the initial revenue target of each year. Reactive Revenue & other activities profit5 • The correction related to the previous regulation period is added algebraically to the initial revenue target for the first year of the next period. KVP6 ▪ NL targets are approved by ANRE for each voltage level, for RP5 must reduce with: 6% in MV; 15% in LV • DSOs keep the efficiency gain (25% in HV/MV, 50% in LV) at the end of RP5, only if DSO is efficient every year • NL price is limited to the average of prices achieved by DSOs, plus 5% VR Useful NL7 • The additional costs for purchasing the NL energy until 31 march 2025 compared the costs included in tariffs are capitalized. • ANRE establishes annual NLuseful S (extra capitalized) VR NL useful S8 (extra capitalized) • ANRE approves NL quantity for additional 110 kV transits, broken down for producers (>5MW) and TSOs. • The DSOs recover the VR NLusefulT from the TSO (via ANRE decision) and from the producers by product specific tariffs. VR NL useful T9 (additional transit) Tariffs10 Regulated Revenue VR = VR nonNL 1 + VR NL 1. Regulated revenue nonNL is determined based on linearized revenue nonNL to which it is added annual correction 3. OPEX – Operating costs and maintenance 2. Initial revenue target nonNL is linearized with Xfinal. 4. RRAB – return on RAB
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61 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Changes in distribution tariffs methodology (1/3) Methodology for establishing distribution tariffs - Summary RP5 vs RP4 OPEX 1 Reactive revenue and others activities (AA) profit - reducing initial revenue target. DSOs keep 5% of other activities profits. Pole rental activity it is unregulated. RRR RAB • 5.66% (Jan.2019); 6.9% (March 2019–April 2020); • 6.39% (May 2020 - Dec.2024) RRR RP4 incentives • 1% Grid investments • 2% Grid investments from non-refundable funds • 1% PCI Regulated amortization Ex-post recognition for amortization of the Commissioning year. OPEX Controllable – Costs that must be made more efficient do not include PEX and OSH; efficiency target of 2%; 60% of the operating efficiency gain (maximum 5%) is allocated to the customers. OPEX Noncontrollable – does not include the monopoly tax. Annual corrections - due to the deviation between the forecasted and approved values (quantities of distributed energy, NL price and quantity, OPEX, investments, revenues from reactive energy and AA profit). RRR RAB 6.94% RRR RP5 incentives • 1.0% Grid investments that exceed 85% of regulated amortization • 0.5% Grid investments from non-refundable funds Incentive / penalty 0.5% correlated with the performance of the smart grid 2% decrease buildings&facilities that do not contribute to the grid improvement RAB reduced with investments in upgrades IT applications and databases Regulated amortization Idem RP4 OPEX Controllable – Costs that must be made more efficient do not include PEX and R&D (research-development); the efficiency target is established by ANRE study; 60% of the operating efficiency gain (maximum 5%) is allocated customers. OPEX Noncontrollable - does not include the monopoly tax, but includes updates to IT applications / databases (excluded from RAB) and costs with staff with attributions in accessing EU funds and financial costs in accessing EU funds. Reactive revenue and others activities (AA) profit - reducing nonNL initial revenue target. DSOs keep 5% of other nonregulated activities profits. Pole rental activity it is regulated. Annual corrections - due to the deviation between the forecasted and approved values (quantities of distributed & injected energy, NL price and quantity, OPEX, investments, revenues from reactive energy and AA profit). NL - Target: starting from minimum achieved in RP3; reduction in RP4: 15%-25% for LV target. Price: recognized within the limit a reference price established as the average of DSOs and TSO prices, plus 5% NL – Cost: excluded from total revenue, being regulated separately. Target: LV starting smaller than arithmetic mean of the 2 lowest values achieved in RP4; reduction in RP5: 15% for LV target and 6% for MV target. Price: recognized within the limit a reference price set as the average of DSOs prices, plus 5% RP4 RP5 + Amortization 2 + Return on RAB RRRxRAB3 Network Losses (NL)4 + Reactive revenue & Other activities Profit 5 + + Corrections 6 = 7 Regulated Revenue (VR) 7 VR = nonNL VR + NL VR
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62 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Changes in distribution tariffs methodology (2/3) Methodology for establishing distribution tariffs - Comparative elements RP5 vs RP4 Cost of capital Methodology RP4 Methodology RP5 RAB 1. RAB includes: used assets for the distribution service, which are registered in the DSO accounting as fixed assets and are identifiable physically individually. 2. RAB does not include: a.land, current assets (with the exception licensing and patents), assets placed in conservation or stocks b.fixed assets rented/loaned from third parties or given to third parties by rental/loaned (except for poles) 3. Initial RAB: it is reduced with fixed assets out of service 4. RAB - inflated with realized IR, until RAB inflated is equal to NBV of the fixed regulated assets (included in RAB). 1. RAB includes: idem RP4 2. RAB does not include: a.idem RP4 b.fixed assets rented/loaned from third parties or given to third parties by rental/loaned (except for networks) c.updates of IT applications / databases d.endowment can only be recognized in RAB if they are efficient 3. Initial RAB: idem RP4 4. RAB - inflated with forecasted IR used in the RRR calculation. RAB realized RP5 is limited to NBV of the fixed regulated assets (included in RAB). RETURN (RRR x RAB) RRR RAB • 5.66% (Jan. 2019); 6.9% ( March 2019–April 2020); • 6.39% ( May 2020 - Dec. 2024) RRR RP4 incentives • 1% Grid investments • 2% Grid investments from non-refundable funds • 1% PIC RRR RAB • 6.94% RRR RP5 incentives • 1.0% Grid investments that exceed 85% of regulated amortization • 0.5% Grid investments from non-refundable funds Incentive / penalty 0.5% correlated with performance smart grid • 2% decrease buildings & facilities that do not contribute to the improvement of grid Amortization 1. Forecasted amortization Commissioning year = 0 1. Idem RP4 INVESTMENTS 1. Annual corrections - if realized investments<planned inv. 2. The value of the investment plan must be at least equal to the regulated amortization. 1.Annual corrections - if realized investments<planned investments 2.Mandatory minimum value for investment plan it is equal to the total regulated amortization approved for RP5 3.Mandatory minimum value for grid investment annual plan it is equal to 85% of the annual regulated amortization. Inflation rate 1. Use of IR predicted by CNP for revenues and costs. 2. Annual corrections for realized IR deviations compared to the forecast. 1. Capital costs are inflated with the forecasted IR used in the RRR. 2. OPEX is inflated with RI forecast by CNP. 3. OPEX annual corrections for deviations of realized RI compared to the forecast.
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63 PRESENTATION OF H1 2026 FINANCIAL RESULTS (ACC. IFRS-EU) Changes in distribution tariffs methodology (3/3) Methodology for establishing distribution tariffs - Comparative elements RP5 vs RP4 OPEX & NL Methodology RP4 Methodology RP5 OPEX Controllable ( OPEXC ) 1. OPEXC start is established by benchmarking analysis and can be adjusted upon request justification of the DSO 2. Classification: ► maintenance and operation – efficiency target 2% ► personnel and OSH - no efficiency 3. Efficiency gains from operating costs it can be maximum 5%, and 60% is allocated annual to the customers. 4. Annual corrections for deviations between achievements and forecast. 5. Prudence criteria for the recognition of the realized costs. 1. OPEXC start is established on the basis of OPEX study made by ANRE 2. Classification: ► maintenance and operation - efficiency target from OPEX study ► personnel costs (PEX) and research&development (R&D) – no efficiency PEX will be adjusted annually with: inflation rate (IR) and 5% R&D limited at maximum of 5 million RON for total RP5. 3. Efficiency gains from operating costs - idem RP4 4. Annual corrections for deviations: idem RP4 5. Prudence criteria for the recognition: idem RP4 6. Non-recognition of costs with affiliates for representation, regulatory advice and profit with subcontracted parties. OPEX noncontrollable (OPEX NC) 1. Monopoly tax is not recognized in OPEX NC. 1. Monopoly tax – idem RP4 2. OPEX NC includes: costs with updates of IT applications or databases; additional PEX with DSO own organizational structure for accessing EU funds; financial costs for accessing funds from non - reimbursable funds. NL Regulated NL 1. Target: LV starting for RP4 it is set as the minimum of LV target for 2018 and LV NL realized in RP3. Reduction target in RP4: LV linear reduction by 25% for starting >15%, and by 15% for starting between 13% and 14%. 2. Efficiency gain: is granted at the end of RP4: 25% for HV and MV and 50% LV, if DSO was efficient every year. 3. Price: ► forecasted RP4: DSO&TSO average in the last 2 closed semesters ► recognized = minimum between the price realized by DSO and the average of the prices realized by DSOs and TSO, limited to 5% BM quantity, plus 5%; ► capitalization of additional costs during 5 yrs, with 50% of RRR. I. Useful NL 1. Target: LV starting for RP5 it is set smaller than arithmetic mean of the 2 lowest values achieved in RP4; Reduction target in RP5: LV by 15% and MV by 6%. 2. Efficiency gain: idem RP4. 3. Price: ► forecasted RP5 = average between DSOs in the last 2 closed semesters ► recognized = minimum between the price realized by DSO and the average of the prices realized by DSOs, limited to 5% BM quantity, plus 5%; II. NL useful S (extra capitalized) ► The additional costs for purchasing the NL energy until 31 March 2025 are capitalized. III. NL useful T (additional transits) ► ANRE approves the amount of NL for additional 110 kV transits.
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64 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (1/7) GEO no. 6/2025 - Emergency Ordinance regarding measures applicable to final customers in the electricity market for the period April 1, 2025 – June 30, 2025, and measures applicable to end customers in the natural gas market for the period April 1, 2025 – March 31, 2026, as well as for the amendment and completion of certain normative acts in the energy sector: o The application period of the support scheme (price cap scheme) is 3 months for electricity, April 1, 2025 – June 30, 2025, and 1 year for natural gas, April 1, 2025 – March 31, 2026. o For electricity, the final billed price is: a) Maximum 0.68 RON/kWh, VAT included, for consumption by the following categories of customers: 1. Residential customers whose monthly consumption is between 0 and 100 kWh inclusive; 2. Residential customers where people living at the consumption location use electrically powered medical devices necessary for medical treatments, based on confirmation from a specialist doctor and a request submitted to the supplier; 3. Residential customers with at least 3 children under 18 years old in their care, based on a request and a sworn statement;the age limit extends to 26 years if the adult child is enrolled in an educational program; 4. Single-parent household customers, who have at least one dependent child up to 18 years of age, on the basis of an application and a declaration on their own responsibility; the age limit is extended up to 26 years in case the major child is in education); b) A maximum of RON 0.80/kWh, VAT included, for the electricity consumed by household customers whose monthly consumption at the place of consumption ranges between 100.01 and 255 kWh (the electricity consumption between 255 and 300 kWh/month is billed at a maximum price of RON 1.3/kWh, VAT included, and if the consumption exceeds 300 kWh/month, the entire consumption is billed at a maximum price of RON 1.3/kWh); c) A maximum of RON 1/kWh, VAT included, for 85% of the monthly consumption recorded at the place of consumption for certain categories of consumers (the remaining monthly electricity consumption being billed at a maximum price of RON 1.3/kWh, VAT included, based on the statutory declaration of the legal representative); d) A maximum 1 RON/kWh, VAT included, for the entire consumption of public and private hospitals, public and private educational institutions, nurseries, and public and private social service providers. e) A maximum of RON 1/kWh, VAT included, for 85% of the monthly consumption recorded at the place of consumption, for public institutions other than those provided under letter d), as well as for institutions belonging to officially recognized religious denominations in Romania (the remaining monthly electricity consumption is billed at a maximum price of RON 1.3/kWh, VAT included); f) A maximum of RON 1.3/kWh, VAT included, for household and non-household consumers not covered under letters a)–e) o for natural gas, the final billed price is: a) a maximum of RON 0.31/kWh, VAT included, for household customers; b) a maximumof RON 0.37/kWh, VAT included, for non-household customers whose annual natural gas consumption recorded in the previous year at the place of consumption does not exceed 50,000 MWh, as well as for heat producers and for non-household customers operating within industrial parks regulated by Law No. 186/2013 on the establishment and operation of industrial parks, as subsequently amended and supplemented, and for those operating within closed distribution systems as defined under Law No. 123/2012, as subsequently amended and supplemented. o the price included in the standard offers prepared and published by electricity/natural gas suppliers may not exceed the capped final billed price; standard offers for the period 1 July 2025 – 30 June 2026 may be prepared and published only if procurement has been carried out at a minimum level of 50% for the offered period, with the obligation to indicate the supply component separately. PRIMARY LEGISLATION
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65 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (2/7) o The final customers’ declarations regarding the capped final price, submitted to suppliers based on the provisions of GEO No.27/2022, remain valid;: o The CfD was included in the capped final price; o The application of the minimum between the contractual price, the capped price, and the price resulting from the application of the GEO remains in force; o Regarding the procurement of electricity: the percentage recognized for imbalances increases from 5% to 10% in value/cost, and without any limit for the suppliers of last resort; the limit of the recognized procurement price remains RON 700/MWh; directly negotiated bilateral contracts must be reported to ANRE within 2 working days from the date of conclusion; o Settlement requests must be submitted before uploading data to the ANRE portal for price capping; 40% of the amount related to the settlement requests is reimbursed within 10 days from the moment the funds are transferred by the Ministry of Finance to the accounts of the Ministry of Energy and ANPIS (this is not a payment deadline that can be controlled by the supplier); o The supplier shall notify the customers in its own portfolio regarding the changes resulting from the application of the GEO provisions, together with the first invoice issued after the entry into force; o Failure by operators to comply with the deadlines provided, including the deadline for correcting data uploaded to the IT platform and resubmitting settlement requests and/or statutory declarations, constitutes a contravention and is sanctioned with a fine ranging from RON 25,000 to RON 50,000; o GEO No. 27 (currently in force) is amended as follows: for the period April–August 2022, the final deadline for entering the data required for the settlement of amounts from the state budget or, where applicable, for the regularization of amounts settled from the state budget is 30 April 2025; for the period September 2022–August 2023, the final deadline for entering the data required for the settlement of amounts from the state budget or, where applicable, for the regularization of amounts settled from the state budget is 30 April 2025; o Law No. 123/2012 on electricity and natural gas is amended as follows: producers are obliged to trade at least 50% of their annual electricity production through contracts on electricity markets, on markets other than the DAM, IDM, and BM. Producers holding exclusively wind, photovoltaic, or micro-hydropower capacities benefiting from the green certificate support scheme, as well as cogeneration capacities, are exempt from this requirement. OPCOM is obliged to publish daily reference prices, closing prices, and traded volumes; o for natural gas: a minimum stock of 90% of the underground storage capacity must be ensured, along with the obligation for natural gas producers to deliver at a price of RON 120/MWh to suppliers/PET/direct customers, in the following order of priority: storage, consumption of household customers, PET consumption only for the population. PRIMARY LEGISLATION
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66 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (3/7) Law No. 160/2026 amending and supplementing the Electricity and Natural Gas Law: o Monthly settlement requirement: Suppliers are no longer required to carry forward surplus energy over a 24-month period; instead, they are obligated to settle energy quantities monthly under the quantitative netting process. This settlement must be calculated using the active electricity price specified in the supply contract between the supplier and the prosumer. o Redirection of netting funds for household prosumers: Suppliers must allow household prosumers (with installations under 27 kW per consumption site) to allocate the proceeds from the quantitative netting mechanism toward new options: o Accept the use of these funds to pay the prosumer's natural gas bills, provided the gas contracts are held with the same supplier. o Accept the payment of electricity bills for all other consumption (or production-and-consumption) sites of the prosumer within the supplier's portfolio, even if they are not located within the operating area of the same DSO (representing an express derogation from the general rule). o Honor the allocation option chosen by the prosumer upon contract signing for a mandatory minimum period of 12 months. o Netting implementation methodology: Suppliers are required to execute quantitative netting between energy injected and energy consumed within a billing period, applying the methodology to be approved by ANRE by September 23, 2026 (a 60-day deadline). o Application to ongoing contracts: The specified quantitative netting applies to ongoing E-RES (Electricity from Renewable Energy Sources) power purchase agreements between suppliers and prosumers in effect on the date the Law enters into force. o Public sector requirement: Upon request, suppliers are obligated to offer quantitative netting or financial settlement services to public authorities and institutions that own RES generation capacities developed through public funding. GEO No. 38/2026 (published in Official Gazette No. 392 of May 8, 2026) – Emergency Ordinance amending and supplementing certain legislative acts (Art. VI and Art. VII) ❑ This GEO amends both GEO No. 27/2022 and GEO No. 6/2025 as follows: o Suspension of support scheme payments: Focuses on suspending payments under energy support schemes when discrepancies are ide ntified during verifications (Art. VI and Art. VII). o Authority enforcement: Authorities may fully or partially suspend payments under energy and gas compensation schemes if discr epancies or risks of financial loss to the state budget are detected. o Legal challenges: Legal disputes exist regarding the constitutionality of this GEO's adoption (referrals submitted to the Constitutional Court of Romania – CCR). PRIMARY LEGISLATION
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67 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (4/7) GEO No. 12/2026 – Emergency Ordinance on the measures applicable to household customers on the natural gas market during the period 1 April 2026 – 31 March 2027 o establishes the method for determining the final invoiced price, composed of the procurement component with imbalances limited to 10% of procurement costs, the supply component, ANRE-regulated tariffs, VAT + excise duties; o final price = the lower of the contractual price and the price calculated according to the GEO; o wholesale procurement for household customers and HEP is carried out at the price of 110 lei/MWh; o the supply component is capped at a maximum of 15 lei/MWh; o suppliers must apply the allocation of consumption per living space within the condominium; o suppliers/HEP/direct customers must constitute, by 31 October 2026, a minimum stock of 90% of the total national storage capacity; o failure to fulfil the obligations is sanctionable with 1% - 5% of the annual turnover (for non-compliance with Articles 1-6), 100,000 - 1,000,000 for breach of the points in the annex; o suppliers have the obligation to notify household customers through the first invoice issued after the entry into force of the GEO. o the application period is from 1 April 2026 - 31 March 2027. GEO No. 19/2026 - Emergency Ordinance on declaring the crisis situation on the crude oil and/or petroleum products market, respectively gasoline and diesel, and for establishing measures to protect the economy and the population during the crisis situation, as well as for amending Government Emergency Ordinance No. 12/2026 on the measures applicable to household customers on the natural gas market during the period 1 April 2026 - 31 March 2027 o brings improvements regarding the average sale price to household customers during the warm season; o reduces the financial effort for carrying out underground storage; o during the cold season there will be a slight price improvement for household customers, as a result of the decrease in the share of natural gas stored in the designated gas basket. Law No. 179/2026 (published in the Official Gazette, Part I No. 723 of 28.08.2026) for the amendment and completion of GEO No. 6/2025, GEO No. 27/2022 as well as for the amendment and completion of certain normative acts in the energy field o increase of the settlement percentage from 40% to 60% - the percentage paid to suppliers from the value of the settlement request from the state budget increases from 40% to 60%; o the new percentage of 60% applies to monthly requests submitted from the date of entry into force of the law; o for requests already submitted for which 40% has been paid, the supplier may submit an additional request for the 20% difference within 30 days, accompanied by a declaration on one's own responsibility. Payment is made within 10 days from the transfer of funds from the Ministry of Finance to the account of the Ministry of Energy, respectively the National Agency for Payments and Social Inspection; o for requests for which the 40% has not yet been paid, the 60% percentage applies directly, without an additional request; o late payment interest and penalties are introduced in situations where the recovery of paid amounts is necessary - if recovery is not carried out within 10 working days, late payment interest and penalties related to the amounts to be reimbursed to the state budget are calculated according to the Tax Code; o if the value determined by ANRE as a result of the reconciliation process is lower than the settled value, suppliers have theobligation to return the difference between the two values within 10 working days from the date of communication of the value determined by ANRE. PRIMARY LEGISLATION
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68 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (5/7) ANRE Order No. 83/2025 (published in Official Gazette No. 15 of 13.01.2026) — Order approving the Regulation for granting establishment authorisations and licences in the natural gas sector and for supplementing certain orders of the President of the National Energy Regulatory Authority o a modernised regulation is introduced regarding the procedures for granting, amending, suspending and withdrawing the establishment authorisations and licences required for activities in the natural gas sector; o a unitary, updated and coherent framework is established for issuing establishment authorisations for facilities in the natural gas sector, issuing and managing licences for sector activities; o the roles and responsibilities of economic operators and ANRE are clarified; o the Regulation applies to economic operators requesting authorisations or licences provided under Law No. 123/2012 (ANRE Orders No. 199/2020 and No. 200/2020 are repealed). ANRE Order No. 2/2026 (published in Official Gazette No. 69 of 29.01.2026) — Order establishing certain information measures for final natural gas customers o aims to increase the level of awareness of final customers in view of the termination, as of 1 April 2026, of the support scheme established under GEO No. 6/2025; o provides that natural gas suppliers are required to inform final customers, by 2 March 2026, on the following: ❑ that, as of 1 April 2026, the support scheme established under GEO No. 6/2025 will cease to apply; ❑ that, starting from 1 April 2026, the final price for natural gas billed by the supplier will be the contractual price, as applicable, either the price communicated to the final customer upon conclusion of the supply contract or the price communicated upon update of the economic terms of the contract; ❑ the method for determining, starting from 1 April 2026, the final billed price applicable to final customers supplied with natural gas under the supplier of last resort regime; ❑ the possibility to switch natural gas supplier; ❑ the ways in which a natural gas supply contract may be concluded under competitive market conditions, as well as the manner in which the final customer may compare the standard natural gas supply offers available on the market; o for final customers whose contractual price will not change as of 1 April 2026, the supplier is required to inform them, by 2March 2026, of the price applicable starting from 1 April 2026; o the information notices must be communicated by the supplier either attached to the invoice or through the communication channel agreed by the parties under the contract or subsequently notified by the final customer, in case of any change thereto. ANRE Order No. 3/2026 (published in Official Gazette No. 142 of 25.02.2026) — Order setting the mandatory green certificate acquisition quota for 2025 o sets the mandatory green certificate acquisition quota for economic operators subject to the obligation to acquire green certificates for 2025 at 0.49983 green certificates/MWh, corresponding to a final electricity consumption exempted from the payment of green certificates of 7,823.0757 GWh; o the Order enters into force on 01.03.2026. SECONDARY LEGISLATION
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69 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (6/7) ANRE Order No. 7/2026 (published in Official Gazette No. 368 of May 4, 2026) – Order approving the Regulation on access to and use of natural gas distribution systems o Does not involve changes to distribution tariffs; however, it carries operational and contractual impact by introducing a single new Regulation and a framework distribution contract. o Enters into force on May 4, 2026. ANRE Order No. 9/2026 (published in Official Gazette No. 384 of May 7, 2026) – Order regarding the participation of renewable energy communities or citizen energy communities in wholesale electricity markets and the terms for utilizing energy storage capacities belonging to a renewable energy community, a citizen energy community, and/or their members to provide services to network operators o Energy communities are recognized as market participants, holding the right to sell surplus electricity on wholesale markets, purchase electricity for member consumption, enter into bilateral contracts, etc. o Communities may hold licenses for production, supply, trading, aggregation, or storage operation, or may be exempted under specific conditions (NGO status, 100% self-consumption, etc.). o To participate in the market, energy communities may directly assume balancing responsibility or transfer it to another Balance Responsible Party (BRP). o Enters into force on May 7, 2026. ANRE Order No. 10/2026 (published in Official Gazette No. 398 of May 12, 2026) – Order approving the regulated tariff for electricity exchanges with perimeter countries, applied by National Power Grid Company "Transelectrica" – S.A. Approves the regulated tariff for electricity exchanges with perimeter countries at €1.10/MWh, excluding VAT, applied by National Power Grid Company "Transelectrica" – S.A. o Applies to all electricity import, export, and transit transactions scheduled with the power systems of perimeter countries. o Enters into force on May 15, 2026. ANRE Order No. 11/2026 (published in Official Gazette No. 406 of May 13, 2026) – Order amending and supplementing the Regulation on the organized framework for trading standardized products on centralized natural gas markets managed by the Romanian Commodities Exchange – S.A., approved by ANRE President Order No. 95/2021 o Introduces and consolidates the Central Counterparty (CCP) mechanism, clarifies and standardizes traded products, establishes additional participation and trading conditions, and introduces stricter mechanisms regarding contracts and financial guarantees. o Enters into force on May 13, 2026. ANRE Order No. 12/2026 (published in Official Gazette No. 428 of May 21, 2026) – Order approving the Methodology for setting the system services acquisition tariff and amending the Framework Contract for the use of the National Power System for scheduled electricity exchanges with perimeter countries between National Power Grid Company "Transelectrica" – S.A. and the beneficiary, approved by ANRE President Order No. 46/2016 o Repeals the previous methodology (ANRE Order No. 116/2022), redefines the calculation methodology for system services tariffs, aligns rules with European ENTSO-E practices, and introduces clearer forecasting and correction mechanisms. o Enters into force on May 29, 2026. SECONDARY LEGISLATION
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70 MAIN CORPORATE EVENTS Relevant Applicable Regulatory Provisions – Supply (7/7) ANRE Order No. 83/2025 (published in Official Gazette No. 15 of 13.01.2026) — Order approving the Regulation for granting establishment authorisations and licences in the natural gas sector and for supplementing certain orders of the President of the National Energy Regulatory Authority • a modernised regulation is introduced regarding the procedures for granting, amending, suspending and withdrawing the establishment authorisations and licences required for activities in the natural gas sector; • a unitary, updated and coherent framework is established for issuing establishment authorisations for facilities in the natural gas sector, issuing and managing licences for sector activities; • the roles and responsibilities of economic operators and ANRE are clarified; • the Regulation applies to economic operators requesting authorisations or licences provided under Law No. 123/2012 (ANRE Orders No. 199/2020 and No. 200/2020 are repealed). ANRE Order No. 16/2026 (published in Official Gazette No. 439 of May 25, 2026) – Order amending and supplementing the Regulation for issuing licenses and authorizations in the electricity sector, approved by ANRE President Order No. 6/2025 o Introduces a stricter licensing and authorization framework in the electricity sector based on financial guarantees (€30 per installed kW). o Clarifies authorization deadlines and procedures. o Aims to eliminate speculative projects and accelerate viable investments. o Enters into force on May 25, 2026. ANRE Order No. 17/2026 (published in Official Gazette No. 444 of May 26, 2026) – Order approving the Regulation for authorizing economic operators active in the natural gas sector o Introduces a comprehensive and stricter authorization framework in the natural gas sector through clear, unified rules and requirements, standardized documentation, and rules for subcontracting and cross-border activities. o Aligns the sector with emerging technologies (LNG, hydrogen, biogas). o Enters into force on May 26, 2026. ANRE Orders Nos. 19–32/2026 (published in Official Gazette No. 506 of June 19, 2026) and ANRE Orders Nos. 33–45/2026 (published in Official Gazette No. 508 of June 22, 2026) – Orders approving regulated tariffs for natural gas distribution service o Establish regulated tariffs for natural gas distribution services applicable starting July 1, 2026, across all 27 nationwide licensed distribution system operators. o Relative to actual gas volumes distributed through networks, the weighted average tariff decreases from 58.47 RON/MWh to 54.32 RON/MWh (a 7.1% reduction). Consequently, for the vast majority of consumers in Romania, the distribution component on gas bills will decrease in H2 2026. o Enter into force on July 1, 2026. ANRE Order No. 49/2026 (published in Official Gazette No. 526 of June 26, 2026) – Order approving the high-efficiency cogeneration contribution o Approves the high-efficiency cogeneration contribution at RON 0.0145/kWh, excluding VAT (an increase of approximately 7%). o Enters into force on July 1, 2026. SECONDARY LEGISLATION
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71 GLOSSARY Glossary ANRE Romanian Energy Regulatory Authority B2B Business to Business BET-TR Bucharest Exchange Trading - Total Return Index BM Balancing Market BoD Board of Directors BSE Bucharest Stock Exchange CAPEX Capital Expenditure CCP.RO CCP.RO BUCHAREST S.A. CPP Crucea Power Park S.R.L. DAM Day Ahead Market DEER Distributie Energie Electrica Romania DSO Distribution System Operator EBIT Earnings before interest and tax EBITDA Earnings before interest, tax, depreciation and amortization EEV1 Electrica Energie Verde 1 S.R.L. EFSA Electrica Furnizare S.A. EGMS Extraordinary General Meeting of Shareholders EL ; ELSA Societatea Energetica Electrica S.A. EPE Electrica Productie Energie S.A. FPE Foton Power Energy S.R.L. GEC&I Green Energy Consultancy & Investments S.R.L. GEO Government Emergency Ordinance GFF Green Finance FrameWork GMS General Meeting of Shareholders GWh GigaWatt hour HV High Voltage IDM Intra-Day Market IFRIC International Financial Reporting Interpretations Committee IFRS International Financial Reporting Standard IMS Integrated Management System IPO Initial Public Offering LSE London Stock Exchange LuxSE Luxembourg Stock Exchange LV Low Voltage MV Medium Voltage MWh MegaWatt hour NBV Net Book Value NTE New Trend Energy S.R.L. NL Network Losses OGMS Ordinary General Meeting of Shareholders OPEX /OpexC Operating expenditure / Operating expenditure controllable PCI Projects of Common Interest PIF Put into Function RAB Regulated Asset Base RP Regulated period RRR Regulated Rate of Return SoLR Supplier of last resort SWE Sunwind Energy S.R.L. OSH Labour safety and health TSO Transmission and system operator TWh TerraWatt hour US Universal Service WCR Working capital requirement
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26 February Publication of the Preliminary Financial Results for FY 2025 27 March Release of 2025 Annual Report 30 March Investor and analyst teleconference for presentation of 2025 consolidated financial results 29 April Annual General Meeting of Shareholders 27 May Release of interim report – 1st quarter of 2026 (January-March) 28 May Investor and analyst teleconference for 1st quarter of 2026 financial results 31 August Release of interim report – 1st half of 2026 (January-June) 1 September Investor and analyst teleconference for 1st half of 2026 financial results 25 November Release of interim report – 3rd quarter of 2026 (January-September) 26 November Investor and analyst teleconference for 3rd quarter of 2026 financial results FINANCIAL CALENDAR 2026
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9 Grigore Alexandrescu Str., 1st District, Bucharest, 010621 ir@electrica.ro https://www.electrica.ro/en/investors/ +40 212 085 035 +40 731 796 111 Investor Relations Disclaimer This document has been prepared by Electrica and is for information purposes only. This presentation is not an offer, invitation or recommendation to trade in securities issued by Electrica. The consolidated financial statements and reports for the period mentioned above and prepared in accordance with applicable capital market regulations are available on the company's website by accessing: https://www.electrica.ro/en/investors/results-and- reports/financial-results/ The figures presented in this document are rounded based on the round to nearest method. As a result, rounding differences may appear. Please see also the disclaimer on slide 3.
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74 PRESENTATION OF H1 2026 FINANCIAL RESULTS 29-Sep-22, 6.1 30-Jun-26, 40.9 31-Aug-26, 52.2 Q&A Mr. Alexandru Chirita CEO Ms. Andreea Lambru CBDO Mr. Costin Iordache CFO