Slides
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Unaudited Individual and Consolidated Financial Statements as at and for the 3 month period ended March 31, 2025 Bucharest: May 22, 2025 SNN Investors Teleconference
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01 Financial Highlights - Financial Results - Net result evolution - Income statement - Financial position Sales of electricity - Sales of electricity evolution - Sales structure analysis OPEX CAPEX - Main investments Technical performances - Radioactive emissions - Nuclear fuel burn up factor - Capacity factor SNN details 02 03 04 05 06
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Net profit: RON: ➢ -49,6 mil RON / -8,8% below 3M 2024 ➢ +64,7mil RON / +14,4% above budget Increase in costs: • Windfall Tax +100% (+341 mil RON) driven by higher average selling price of 525.44 lei/MWh (w/out Tg) compared to Q1 2024: 416.89 lei/MWh (w/out Tg), as well a lower cap value of 400 RON/MWh as compared to 450 RON/MWh in 3M 2024; • Increase of 1,3% of OPEX less depreciation, amortization and windfall tax, as a result of increased expenses with uranium used for the fuel bundle production • Increase in depreciation and amortization costs as a result of the planned outage costs, which incurred a gradual rise over the years Compensated by: • Sales of electricity +23,6% (+275 mil RON) over 3M’24, based on higher selling prices for a quantity lower by -1,7% (w/out PE) • Financial result +23% (+16 mil RON) over 3M’24, as a result of the increase in interest income and lower net impact from currency exchange rates • Decrease in income tax as a result of a lower financial result as compared to the previous period 3M 2025 Financial Results Highlights 3 *) According to the Individual Interim Financial Statements **) Revenue and Expenditure Budget approved by GSM decision no. 3/09.04.2025. 01 Indicator*) Unit 3M period ended 31.03.2025 actual (unaudited) 3M period ended 31.03.2024 actual (unaudited) Var (abs) Var (%) 3M period ended 31.03.2025 budgeted **) Var (%) 1 2 3 4=3/2 5 6=(1-5)/5 Quantity of energy sold MWh 2,720 2,768 (47) (1.7%) 2,708 0.4% Total revenues including other income, out of which: RON ‘000 1,489,933 1,205,339 284,594 23.6% 1,466,025 1.6% - Sales of electricity (incl. thermal energy) RON ‘000 1,437,092 1,162,493 274,599 23.6% 1,408,648 2.0% OPEX - less depreciation, amortization and windfall tax RON ‘000 (443,639) (438,038) (5,601) 1.3% (518,139) (14.4%) Windfall tax RON ‘000 (340,662) - (340,662) 100% (310,887) 9.6% EBITDA RON ‘000 705,632 767,301 (61,669) (8.0%) 637,000 10.8% Depreciation and amortization RON ‘000 (175,335) (164,394) (10,941) 6.7% (176,376) (0.6%) EBIT RON ‘000 530,297 602,907 (72,610) (12.0%) 460,624 15.1% Financial result RON ‘000 85,696 69,648 16,048 23.0% 50,159 70.8% Income tax RON ‘000 (102,337) (109,285) 6,948 (6.4%) (61,800) 65.6% Net profit 513,656 563,270 (49,614) (8.8%) 448,983 14.4%
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Financial Highlights - Detailed Net result*) evolution - 4 01 *) According to the Individual Interim Financial Statements
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Financial Highlights - Detailed Individual Income statement - 5 • The Revenue and Expenditure Budget approved by GSM no. 3/09.04.2025 ** Including thermal energy. 01 RON '000 3M period ended 31.03.2025 actual (unaudited) 3M period ended 31.03.2024 actual (unaudited) VAR (abs) Variation (%) 3M period ended 31.03.2025 budgeted *) VAR Variation (%) 1 2 3 4 = (1 - 2)/2 5 6 7 = 6/5 Revenues Sales of electricity ** 1,437,092 1,162,493 274,599 23.6% 1,408,648 28,444 2.0% Electricity transmission revenues 8,951 10,573 (1,622) (15.3%) 8,826 125 1.4% Total revenues 1,446,043 1,173,066 272,977 23.3% 1,417,474 28,569 2.0% Other income 43,890 32,273 11,617 36.0% 48,551 (4,662) (9.6%) Operating expenses Personnel expenses (155,235) (168,549) 13,314 (7.9%) (183,963) 28,729 (15.6%) Cost of traded electricity (9,385) (33,545) 24,160 (72.0%) (36,530) 27,145 (74.3%) Repairs and maintenance (22,141) (20,110) (2,032) 10.1% (26,236) 4,094 (15.6%) Electricity transmission expenses (8,951) (10,573) 1,622 (15.3%) (8,826) (125) 1.4% Costs with spare parts (4,496) (4,278) (218) 5.1% (9,930) 5,434 (54.7%) Cost of uranium fuel (67,782) (52,217) (15,565) 29.8% (75,887) 8,105 (10.7%) Other operating expenses (175,648) (148,766) (26,882) 18.1% (176,766) 1,118 (0.6%) Total operating expenses less Windfall tax (443,639) (438,038) (5,601) 1.3% (518,139) 74,500 (14.4%) Windfall tax (340,662) 0 (340,662) 100% (310,887) (29,775) 9.6% Total operating expenses (784,301) (438,038) (346,263) 79.0% (829,025) 44,724 (5.4%) EBITDA 705,632 767,301 (61,669) (8.0%) 637,000 68,632 10.8% Depreciation and amortisation (175,335) (164,394) (10,941) 6.7% (176,376) 1,041 (0.6%) EBIT 530,296 602,907 (72,611) (12.0%) 460,624 69,673 15.1% Finance costs (6,305) (12,710) 6,406 (50.4%) (13,634) 7,330 (53.8%) Finance income 92,001 82,358 9,643 11.7% 63,794 28,208 44.2% Financial result 85,697 69,648 16,049 23.0% 50,159 35,537 70.8% Gross profit 615,993 672,555 (56,562) (8.4%) 510,783 105,210 20.6% Income tax charge, net (102,337) (109,285) 6,948 (6.4%) (61,800) (40,537) 65.6% Net profit 513,656 563,270 (49,614) (8.8%) 448,983 64,673 14.4%
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Financial Highlights - Individual vs Consolidated financial performance - 6 01 Indicator [RON] -INDIVIDUAL- -CONSOLIDATED- Diff 1 2 3 = (2-1) Revenues Sales of electricity ** 1,437,091,511 1,437,087,949 (3,562) Electricity transmission revenues 8,951,323 8,951,323 - Total revenues 1,446,042,834 1,446,039,272 (3,562) Other income 43,889,899 71,540,819 27,650,920 Total reveues 1,489,932,733 1,517,580,091 27,647,358 Depreciation and amortisation (175,335,381) (176,686,423) 1,351,042 Personnel expenses (155,234,722) (177,116,891) 21,882,169 Cost of traded electricity (9,385,269) (9,385,269) - Repairs and maintenance (22,141,498) (13,401,103) (8,740,395) Electricity transmission expenses (8,951,323) (8,951,323) - Costs with spare parts (4,495,675) (4,568,843) 73,168 Cost of uranium fuel (67,782,185) (67,782,185) - Windfall tax (340,662,121) (340,662,121) - Other operating expenses (175,648,109) (175,545,811) (102,298) Total operating expenses (959,636,283) (974,099,969) (14,463,686) Operating result 530,296,450 543,480,122 13,183,672 Financial costs (6,304,821) (8,997,993) 2,693,172 Financial income 92,001,401 90,251,972 (1,749,429) Financial result 85,696,580 81,253,979 (4,442,601) Gross profit 615,993,030 624,734,101 8,741,071 Part of the profit/ (loss) with associated entities - 1,396,265 1,396,265 Income tax (102,337,270) (103,456,134) 1,118,864 Net profit 513,655,760 522,674,232 9,018,472 Consolidation adjustment– ICO transactions - sales of energy made to EnergoNuclear Consolidation adjustment– ICO transactions – processing services invoiced by FPCU (processing U3O8 in UO2) Consolidation adjustment: ICO transactions sevices invoiced by Nuclearelectrica Serv to SNN Consolidation adjustment: ICO transactions sevices invoiced by Nuclearelectrica Serv to SNN Mainly forex exchange expenses - Energonuclear 50% of the IFRS result of associated entity RoPower Pesonnel costs of subsidiaries Mainly income tax Energonuclear and N.Serv Mainly interest revenues and forex exchange revenues - Energonuclear
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Financial Highlights - Individual financial position - 7 Main variations –FINANCIAL POSITION-: Non-current assets +3,2% (+258 mil RON): ❑ +150 mil RON: increase in net book value of tangible assets (PPE), mainly due to: • +213 mil RON increase in advances recorded for the investment projects; • -165 mil RON depreciation for the period January-March 2025; • +102 mil RON representing the net value between additions and disposals in the period. ❑ +108 mil RON: increase in net financial assets valued at amortized cost mainly due to: • increase in the loan granted to associated entity RoPower Nuclear SA: approx. +54.44 mil RON, from 378.6 mil RON at 31.12.2024 (including interest). The loan increase arises from the need to finance technical assistance activities related to SMR Front End Engineering and Design (FEED) Phase 2, Technology License (TLA) costs, FEED 2 contingency, other engineering costs and operational expenses. • Increase in the loan granted to Energonuclear SA subsidiary: +77 mil RON (including interest) from 351.9 mil RON at 31.12.2024. During 2024, SNN shareholders approved the investment loan in amount of 841 mil RON for the purpose of financing the Preliminary Works Budget of the Cernavoda NPP Units 3 and 4 Project carried out by the Energonuclear subsidiary Current assets -1.7% (-99,5 mil RON): • -43 mil RON – decrease in trade receivables due to differences in selling price and respective quantities in balance at the reporting date • -164 mil RON – decrease in other financial assets valued at amortized cost: liquidation of treasury certificates (-100 mil RON), reduction of VAT receivables (-91 mil RON), partially offset by the increase of payment in advance and other receivables (+28 mil RON) • +100 mil RON – increase in bank deposits, cash and cash equivalents Non-current liabilities -0,7% (-3 mil RON) – decrease in IFRS 16 lease liabilities, as a result of a lease contract termination with Cernavoda Cityhall Current liabilities -25.4% (-352 mil RON) – decrease mainly coming from the reduction of accounts payables and windfall tax balance, compensated by the increase in profit tax liabilities. Equity - increase with the profit of the previous period and decrease from reverse of revaluation reserve. 01 RON '000 31.03.2025 (unaudited) 31.12.2024 (audited) Variation (%) A B C = (A - B)/B Total non-current assets 8,391,774 8,133,815 3.2% Inventories 1,765,263 1,758,067 0.4% Trade receivables 304,536 347,264 (12.3%) Other financial assets at amortised cost 233,092 396,726 (41.2%) Non-current assets held for sale 0 116 100% Cash and cash equivalents (incl. deposits) 3,590,521 3,490,743 2.9% Total current assets 5,893,412 5,992,916 (1.7%) Total assets 14,285,186 14,126,730 1.1% Share capital and premium 3,243,416 3,243,416 0.0% Prepaid share reserve 21,554 21,554 0.0% Revaluation reserve 266,002 280,106 (5.0%) Retained earnings 9,325,916 8,798,156 6.0% Total shareholder's equity 12,856,888 12,343,232 4.2% Long term borrowings 0 0 0% Long term lease liabilities 20,056 28,230 (29.0%) Provisions for risks and expenses 272,830 261,905 4.2% Other non-current liabilities 103,311 109,028 (5.2%) Total non-current liabilities 396,197 399,163 (0.7%) Accounts payable and other liabilities 909,096 1,270,284 (28.4%) Current portion of provisions for risks and expenses 118,350 109,523 8.1% Short term lease liabilities 4,655 4,528 2.8% Current portion of long term borrowings 0 0 0% Total current liabilities 1,032,101 1,384,335 (25.4%) Total liabilities 1,428,298 1,783,498 (19.9%) Total equity and liabilities 14,285,186 14,126,730 1.1%
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Financial Highlights - Individual vs Consolidated financial position - 8 Non-current assets -> the difference is mainly represented by the cancellation of intra-group transactions (such as loans granted to subsidiaries and shares held in subsidiaries), net of subsidiaries' fixed assets Current assets -> mainly Cash and cash equivalents Energonuclear Equity -> retained earnings from subsidiaries' financial results following the adoption of IFRS Total liabilities -> trade liabilities of subsidiaries, remaining after the elimination of intra-group transactions 01 RON '000 INDIVIDUAL 31.03.2025 (unaudited) CONSOLIDATED 31.12.2024 (audited) DIFF A B C = (A - B)/B Non-current assets 8.391.774 8.337.871 (53.903) Current assets 5.893.412 6.002.115 108.703 Total assets 14.285.186 14.339.986 (54.800) Shareholder's equity 12.856.887 12.823.314 (33.573) Non-current liabilities 396.197 399.204 3.007 Current liabilities 1.032.102 1.117.468 85.366 Total liabilities 1.428.299 1.516.672 88.373 Total equity and liabilities 14.285.186 14.339.986 54.800
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Sales of electricity 9 Electricity sales increase from Q1 2024 to Q1 2025 determined mainly by increase in weighted average selling price (w/out Tg) + 25,7%, for a quantity of electricity sold lower with -1,7% (w/out PE): - MACEE* : there were no sales on MACEE in Q1 2025, reduction of 846 mil RON - Competitive Market: +10% increase in price, with 8,166 % increase in quantity sold; - Spot Market: +87,8% increase in price, with -68,7% decrease in quantity sold; - Balancing Market (PE): with +57,7% increase of price, with -40% decrease in quantity sold; *Centralized Electricity Acquisition Mechanism implemented starting 01 January 2023 02
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Sales structure analysis 2025 vs. 2024 10 Starting with January 1, 2025, the Company is no longer a seller within the Centralized Electricity Acquisition Mechanism ("MACEE"), established by GEO no. 153/2022 for the period 1 January 2023 – 31 March 2025. During 2024, SNN participated both on the competitive segment and in the MACEE mechanism. On the Competitive Market, the quantity of electricity sold during Q1 2025, represented 90.13% of the total sales of electricity (w/out PE), compared to 1.07% recorded in Q1 2024. The average selling price during the reporting period was 509.41 RON/MWh (w/out Tg), recording a 10.2% increase as compared to the average price recorded in 3M 2024, of 462.09 RON/MWh (w/out Tg). On the Spot Market (PZU + PI), the quantities of electricity sold during Q1 2025 represented 9.87% of the total sales volume (w/out PE), comparet to 30.9% recorded in Q1 2024. The average price on spot market, achieved by SNN in 3 M 2025 was 655.71 RON/MWh (w/out Tg), compared to 347.04 RON/MWh (w/out Tg) in Q1 2024. 02 446 - 351 524 347 656 417 525 0 100 200 300 400 500 600 700 3M 2024 3M 2025 Sales prices evolution (RON/MWh w/out Tg) MACEE Competitive Market Spot Market Average price obtained by SNN Quantities 3M 2025 3M 2024 Variation comparative period 3M 2025 Variation Actual vs Budgeted actual actual [%] budgeted*) [%] MACEE 0 1,880,866 (100%) 0 0% Competitive Market 2,451,774 29,661 8,166% 2,451,786 (0.0%) Spot Market 268,507 856,993 (68.7%) 262,370 2.3% TOTAL 2,720,281 2,767,520 (1.7%) 2,714,156 0.2%
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OPEX 11 •Q1 2025 OPEX: 959.6 bn RON: ➢ +357 mil RON / 59.3% compared to Q 1 2024 ➢ -45 mil RON / -4.55% below budget ❑ Increase in costs 3M 2025 vs 3M 2024, mainly from: ▪ Windfall tax / Contribution to the Energy Transition Fund: increase by 341 mil RON based on higher selling prices in 2025 compared to previous year, as well a lower cap value of 400 RON/MWh as compared to 450 RON/MWh in 3M 2024; ▪ Depreciation and amortisation: +6.66% due to new assets put in function; ▪ Other operating expenses: +33.39% due to the increase in legal and consulting services costs ▪ Cost of uranium fuel: expenses increase of 29.81%, due to increase in the weighted average cost of fuel bundles, which comprises all cost components; Compensated by: ▪ Cost of traded electricity: decrease of 72%, due to decrease of quantity of purchased energy as well as lower prices on the balancing market, in 3M 2025 as compared to 3M 2024 ▪ Lower personnel expenses by 13,3 mil RON, mainly due to the employee profit share preliminary provision allocation over the entire year ▪ ANDR contribution for decommissioning (0.6 EUR/MWh) and for permanent storage of radioactive waste (1.4 EUR/MWh), no notable variation; ▪ ANRE contribution: : significant increase, corelated with the increase of the basis for computation of the contribution, represented by sales of electricity recorded in the previous financial year. 03 *) On February 28, 2025, Emergency Ordinance No. 6/2025 was published in the Official Gazette, referring to measures applicable to final customers in the electricity and natural gas market during the period April 1, 2025- March 31, 2026, as well as for the amendment and completion of some regulatory acts in the energy field. The main provisions include aspects related to the extension of the calculation period of the Contribution regarding the Energy Transition Fund, from March 31, 2025, as provided for in GEO 27/2022 updated, to June 30, 2025, as well as the modification of the calculation methodology [tax of 80% applied to the difference between 400 RON/MWh and average selling price computed according to the methodology) Cost structure (RON '000) 3M 2025 actual % in total 3M 2024 actual VAR (abs) VAR % 3M 2025 budgeted rectified VAR % 1 2 3= 1 - 2 4 = 3 / 2 5 6 = (1-5) / 5 Depreciation and amortisation 175,335 18.3% 164,394 10,941 6.66% 176,376 (0.59%) Personnel expenses 155,235 16.2% 168,549 (13,314) (7.90%) 183,963 (15.62%) Other operating expenses 108,750 11.3% 81,528 27,222 33.39% 84,116 29.29% Cost of uranium fuel 67,782 7.1% 52,217 15,565 29.81% 75,887 (10.68%) Technological and non- technological water and energy 41,682 4.3% 40,666 1,016 2.50% 42,359 (1.60%) ANDR contribution 24,061 2.5% 25,348 (1,286) (5.07%) 49,121 (51.02%) Repairs and maintenance 22,141 2.3% 20,110 2,032 10.10% 26,236 (15.61%) Cost of traded electricity 9,385 1.0% 33,545 (24,160) (72.02%) 36,530 (74.31%) Electricity transmission expenses 8,951 0.9% 10,573 (1,622) (15.34%) 8,826 1.42% Cost with spare parts 4,496 0.5% 4,278 218 5.10% 9,930 (54.73%) ANRE contribution 1,154 0.1% 1,224 (70) (5.75%) 1,170 (1.37%) Total OPEX except Windfall tax 618,974 65% 602,432 16,542 2.7% 694,515 (10.88%) Windfall tax*) 340,662 35.5% 0 340,662 100% 310,887 9.58% Total OPEX 959,636 100% 602,432 357,204 59.3% 1,005,402 (4.55%)
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CAPEX 12 Capital expenditure of SNN during 3M 2025: ➢ 475 mil RON during 3M 2025 (3M 2024: 67 mil. RON) out of total investment program of 3,431 mil RON. ➢Increased degree of completion compared to similar previous period: 3M 2025 → 13.85% vs 3M 2024 → 5.11% ➢ in 3M 2025 the investments were made according to the planning for the year: *) Approved through GSM no. 3/09.04.2025 **) Revised through BoD no. 241/26.09.2024 04 CAPEX Program Budget 2025* Degree of completion 31.03.2025 Budget 2024** Degree of completion 31.03.2024 [thousand RON] Ongoing investments 3,162,532 426,685 13.5% 1,077,126 567 0.1% Investments made on tangible assets 132,562 15,078 11.4% 129,625 66,387 51.2% Equipments 136,198 33,316 24.5% 105,171 122 0.1% Total value of investment program 3,431,292 475,079 13.8% 1,311,922 67,075 5.1%
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CAPEX - Aspects related to main investments and long term strategic projects - 13 ➢ Unit 1 Refurbishment ➢ Unit 3 and 4 Project CNE Cernavoda ➢ Small Modular Reactors ➢ Tritium Removal Facility Project – CTRF ➢ Medical Isotopes Project 04
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CAPEX 14 Unit 1 Refurbishment • The Unit 1 Refurbishment Project is in the second phase of its implementation, which includes the provision of financial resources for carrying out the refurbishment project, preparing the execution of the activities identified and defined in Phase I and obtaining all necessary approvals and endorsements for project implementation. • On 10 June 2024, Nuclearelectrica and Canadian Nuclear Partners S.A. (CNPSA) announced the signing of a long-term framework agreement for the provision of Project Management Organization (PMO) services for the preparation and implementation of the Cernavoda Nuclear Power Plant Unit 1 refurbishment project. This framework agreement has an approximate value of EUR 240 mil (360 mil Canadian dollars) and represents an essential step in the completion of the refurbishment of Cernavoda NPP Unit 1 in accordance with the agreed development stages. • On 19 December 2024, Nuclearelectrica and the international consortium Candu Energy Inc., an AtkinsRéalis company, Ansaldo Nucleare, Canadian Commercial Corporation and Korea Hydro & Nuclear Power Co ceremonially signed the Engineering, Procurement and Construction (EPC) contract for the advancement of Cernavoda NPP Unit 1 refurbishment. The contract estimated value is 1.9 billion EUR, approved by SNN GMS. 04 • On February 11, 2025, SNN sent the consortium the official notice of commencement of works (“Notice to Proceed”) related to the Engineering, Procurement and Construction (EPC) contract. • In parallel, steps were taken to launch the procurement procedure for the U1 Unit turbogenerator, with the contract signing estimated to be completed in July 2025. • On February 26, 2025, the Ministry of Environment, Waters and Forests published on the ministry’s website the decision to issue the environmental agreement for the project “Refurbishment of Unit 1 of the Cernavoda NPP and expansion of the Spent Fuel Intermediate Storage with MACSTOR 400 modules”, together with the draft environmental agreement. Subsequently, on March 20, 2025, the MEWP published the Substantiation Note of the Government Decision and the draft Government Decision on the issuance of the Environmental Agreement.
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CAPEX 15 Unit 3 and 4 Project CNE Cernavodă • By resolution no. 10/14.11.2024, of the Extraordinary General Meeting of Shareholder the conclusion of the EPCM contract between EnergoNuclear and FCSA Joint Venture formed by Fluor B.V., Fluor Energy Transition Inc. was approved. Wilmington Bucharest Branch, Candu Energy Inc., a company owned by AtkinsRéalis, Ansaldo Nucleare S.p.A., S&L Engineers, Ltd. and Sargent & Lundy Energie S.R.L. signed the engineering, procurement and construction management (EPCM) contract for the LNTP phase for the advancement of Units 3 and 4 of CNE Cernavoda within COP 29, in Baku. The value of the contract for both the LNTP phase and the subsequent FNTP phase of the EPCM contract is estimated at EUR 3.2 billion. • The EPCM contract, with an estimated duration of 108 months, is structured in two phases: the LNTP (Limited Notice to Proceed) phase (24-30 months) and subsequently, subject to the establishment of the approval of the commercial terms and the taking of the Final Investment Decision, in accordance with the Support Agreement between the Romanian state and SNN, the FNTP (Final Notice to Proceed) phase (80-84 months). 04 • During January – March 2025, the project company, EnergoNuclear ✓ continued the preparatory activities for the development of Units 3 and 4 project, namely: developing the financial model, an alysing the guarantees related to external financing and preparing the documentation for the notification of state aid to the relevant authorities; progress was recorde d in the development of the EPCM contract, in parallel with the initiation of negotiations with potential equipment suppliers and the preparation of the project governa nce structure. ✓ the budget for 2025 was developed and approved, along with the new organizational structure; ✓ the initiation of procurement was approved for: ➢ “Services for the development of engineering and nuclear safety documentation regarding the implementation of the recommendations formulated by the European Commission necessary for the Cernavoda NPP Units 3 and 4 Project and technical assistance services” ➢ “Technical consultancy services for Stage 2 of the Cernavoda NPP Units 3 and 4 Project”.
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CAPEX 16 Small Modular Reactors • On 24 July 2024, SN Nuclearelectrica SA and RoPower Nuclear, signed the contract for Front-End Engineering and Design Phase 2 (FEED 2) with Fluor Corporation. • By resolution no. 12/19.12.2024, of the Extraordinary General Meeting of Shareholder Nuclearelectrica approved the negociations started by RoPower Nuclear S.A with US EXIM in regards with contracting, a credit facility worth approximately USD 98 million, necessary to finance the contracts related to the FEED 2 stage concluded by RoPower Nuclear S.A., based on the Commitment Letter ("Commitment Letter") issued by US Exim on October 15, 2024, including the main commercial terms of the transaction held in view ("Term Sheet"). 04 • By EGMS no. 4/09.04.2025, the shareholders approved the Addendum to the Framework Loan Agreement no. 1 dated 16.08.2023, which comprises introducing into the contract object the financing granted by SNN to the Ropower Nuclear S.A. Project Company and the expenses related to the acquisition of the site, related to the Doicesti SMR Project, the expenses related to the granting of guarantees by SNN for the loans contracted by the Ropower Nuclear S.A. Project Company from third- party financiers and the expenses related to the related financial costs. The guarantee of the amounts granted by SNN for the financing of the acquisition of the site related to the Doicesti SMR Project was made by establishing in favor of SNN, a mortgage on the land that will be acquired by the Ropower Nuclear S.A. Project Company. based on funding provided by SNN.
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CAPEX 17 Tritium Removal Facility Project - CTRF • On 10 June 2024, SNN and Korea Hydro & Nuclear Power (KHNP) announced the start of works at the first tritium removal plant in Europe. This initiative marks an important step forward in nuclear technology and environmental protection, in accordance with the sustainability objectives of the European Union. 04 • In the first quarter of 2025, the following progress was made: - contracting procedures for long-cycle equipment were continued/initiated; - production for LPCE column catalysts was completed; - following the completion of excavation works in December 2024, the installation of the waterproofing membrane was carried out and the concrete was poured to protect the waterproofing membrane; - design packages necessary for casting the foundation of the Detrition Facility are being developed.
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CAPEX 18 Medical isotope project • As at 15 October 2024, Nuclearelectrica and Framatome made public the positive conclusions of the feasibility study carried out to assess the likelihood of production of the medical isotope Lutetium-177 (Lu-177) in Cernavoda nuclear power plant in Romania. Lutetium-177 is used for a series of wide-range of critical cancer treatments. • The two companies started the project implementation, which includes the detailed design, purchase, installation and commissioning of the irradiation system to Unit 2 of Cernavoda Nuclear Power Plant. Launching a commercial irradiation service widely for medical isotopes is foreseen for the year 2028. • On 12 November 2024 Nuclearelectrica and Framatome announce the signing of the Collaboration Agreement for the production of the medical isotope Lutetium-177 (Lu-177) at the Cernavodă nuclear power plant in Romania. 04 • The project is currently in the conceptual design stage, followed by detailed design, component procurement, and the installation and commissioning of the irradiation system is estimated for 2027. Subsequently, in 2028, the large-scale commercial irradiation service will be launched, using the existing nuclear reactor infrastructure.
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Technical performances 19 Radioactive emissions U1+U2 (μSv) Total 3M 2025: Anual limit: 2.09 9,5 05 0.50 0.35 0.33 0.29 0.32 0.30 0.0 μSv 0.1 μSv 0.2 μSv 0.3 μSv 0.4 μSv 0.5 μSv 0.6 μSv 0.7 μSv 0.8 μSv 0.9 μSv January February March U1 emisions U2 emisions
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Technical performances 20 Nuclear fuel burn up factor (MWh/KgU) (Cumulated 3M 2025: 173 /Project estimated: min. 156) 05 168 168 167 180 178 178 0 MWh/KgU 20 MWh/KgU 40 MWh/KgU 60 MWh/KgU 80 MWh/KgU 100 MWh/KgU 120 MWh/KgU 140 MWh/KgU 160 MWh/KgU 180 MWh/KgU 200 MWh/KgU January February March Monthly burn-up factor U1 Monthly burn-up factor U2
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Technical performances 21 CANDU Technology Unit performance U1 + U2 (%) Capacity Factor (Cumulated 3M 2025: 97,46%) 05 97.86% 97.46% 97.05% 97.86% 97.67% 97.46% 0% 20% 40% 60% 80% 100% January February March Capacity factor U1 + U2 Cumulated capacity factor U1 + U2
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Disclaimer 22 This documents was prepared by Nuclearelectrica team only for this presentation purpose. This document cannot be understood anyway as an offer to sell/buy Nuclearelectrica shares. The document content is only for your information and all the statements other than statements of historical facts included in this document are referring to intentions, expectations, estimates or future projections of Nuclearelectrica and its management. All statements other than statements on historical facts included in this document, including, without limitation those regarding the Company’ sfinancial position, business strategy, plans, and objectives of management for future operations, are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company’ spresent and future business strategies and the environment in which the Company will operate in the future and speak only as of the date of this document. As a result of these risks, uncertainties and assumptions, you should in particular not place reliance on these forward-looking statements as a prediction of actual results or otherwise. Neither Nuclearelectrica not its management, employees or consultants will be responsible for the accuracy and completeness of the information and statements contained in this document and in any circumstances the content of this presentation, in particular, cannot be interpreted as any assurance or guarantee, offered by Nuclearelectrica or its representatives. This document does not purport to contain all information that may be necessary in respect of the Company or its shares and in any event each person receiving this document needs to make an independent assessment. For an independent assessment in taking any decision regarding Nuclearelectrica, the Company recommends the public documents and information endorsed by Financial Supervisory Authority and Bucharest Stock Exchange. This document is not directed at, or intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.
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23 S.N. Nuclearelectrica S.A. (SNN) www.nuclearelectrica.ro Stock: ISIN ROSNNEACNOR8 Tel.: +40 21 203 82 00 E-mail: investor.relations@nuclearelectrica.ro COSMIN GHITA - CEO Cosmin.Ghita@nuclearelectrica.ro DANIEL ADAM - CFO Daniel.Adam@nuclearelectrica.ro Executive Management 2024 Financial Calendar Event Date Publication of the preliminary unaudited financial results for the year 2024 28 February 2025 (Friday) Financial analysts, investment advisors, brokers and investors meeting Hour of the meeting: 16:00 Romania’s time General Meeting of the Shareholders for the approval of the annual audited financial results for the year 2024 24 April 2025 (Thursday) Publication of the annual audited financial statements for the financial year 2024 25 April 2025 (Friday) Financial analysts, investment advisors, brokers and investors conference call and webcast Hour of the conference call: 16:00, Romania’s time Publication of the Quarterly Report for the 1st Quarter of the year 2025 (January-March) 22 May 2025 (Thursday) Financial analysts, investment advisors, brokers and investors conference call and webcast Hour of the conference call: 16:00, Romania’s time Publication of the Half-Year Report for the year 2025 (January – June) 14 August 2025 (Thursday) Financial analysts, investment advisors, brokers and investors conference call and webcast Hour of the conference call: 16:00 Romania’s time Publication of the Quarterly Report for the 3rd Quarter of the year 2025 (January – September) 14 November 2025 (Friday) Financial analysts, investment advisors, brokers and investors conference call and webcast Hour of the conference call: 16:00 Romania’s time SNN Investor Relation 06
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24 Thank you for your attention!