Slides
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Unaudited Individual and Consolidated Financial Statements as at and for the 9 month period ended September 30, 2025 Bucharest: November 14, 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: ➢ +342 mil RON / +26.6% above 9M 2024 ➢ +455 mil RON / +38.8% above budget Increase in: • Sales of electricity +23.9% (+783 mil RON) over 9M’24, based on higher selling prices (+19.4% w/out Tg) for a quantity higher by +4% (w/out PE) ; • Financial result +42% (+90 mil RON) over 9M’24, as a result of the increase in interest income and positive net impact from currency exchange rates. Compensated by: • Windfall Tax +394 mil RON driven by higher average selling price of 523.26 lei/MWh (w/out Tg) compared to 9M 2024: 438.13 lei/MWh (w/out Tg), as well a lower cap value of 400 RON/MWh starting 1st of April 2024 as compared to 450 RON/MWh in 3M 2024; • Increase of 1.6% 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. 9M 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 9M period ended 30.09.2025 actual (unaudited) *) 9M period ended 30.09.2024 actual (unaudited) Var (abs) Var (%) 9M period ended 30.09.2025 budgeted **) Var (%) 1 2 3 4=3/2 5 6=(1-5)/5 Quantity of energy sold MWh 7,717 7,418 299 4.0% 7,631 1.1% Total revenues including other income, out of which: RON ‘000 4,172,365 3,394,834 777,531 22.9% 4,061,114 2.7% - Sales of electricity (incl. thermal energy) RON ‘000 4,059,886 3,276,988 782,898 23.9% 3,960,150 2.5% OPEX - less depreciation, amortization and windfall tax RON ‘000 (1,496,577) (1,473,046) 23,531 1.6% (1,817,437) (17.7%) Windfall tax RON ‘000 (504,506) (110,577) 393,929 356.2% (457,114) 10.4% EBITDA RON ‘000 2,171,282 1,811,211 360,071 19.9% 1,786,564 21.5% Depreciation and amortization RON ‘000 (534,349) (496,168) 38,181 7.7% (541,918) (1.4%) EBIT RON ‘000 1,636,933 1,315,043 321,890 24.5% 1,244,646 31.5% Financial result RON ‘000 305,735 215,305 90,430 42.0% 120,915 152.9% Income tax RON ‘000 (315,713) (245,633) 70,080 28.5% (193,800) 62.9% Net profit 1,626,955 1,284,715 342,240 26.6% 1,171,761 38.8%
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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 9M period ended 30.09.2025 actual (unaudited) 9M period ended 30.09.2024 actual (unaudited) VAR (abs) Variation (%) 9M period ended 30.09.2025 budgeted *) VAR (abs) Variation (%) 1 2 3= 1-2 4 = 3/2 5 6 = 1-5 7=1/5 Revenues Sales of electricity ** 4,059,886 3,276,988 782,898 23.9% 3,960,150 99,735 102.5% Electricity transmission revenues 24,287 27,927 (3,640) (13%) 23,591 696 103% Total revenues 4,084,173 3,304,915 779,258 23.6% 3,983,742 100,431 102.5% Other income 88,192 89,919 (1,728) (1.9%) 77,373 10,819 114% Operating expenses Personnel expenses (523,347) (497,342) 26,005 5.2% (577,750) (54,403) 90.6% Cost of traded electricity (192,691) (256,942) (64,251) (25%) (340,662) (147,972) 56.6% Repairs and maintenance (88,438) (81,501) 6,938 8.5% (107,806) (19,368) 82% Electricity transmission expenses (24,287) (27,927) (3,640) (13%) (23,591) 696 103% Costs with spare parts (25,773) (20,878) 4,895 23.4% (34,907) (9,133) 73.8% Cost of uranium fuel (186,265) (147,162) 39,103 26.6% (205,494) (19,229) 90.6% Other operating expenses (455,776) (441,295) 14,481 3.3% (527,226) (71,451) 86.4% Total operating expenses less Windfall tax (1,496,577) (1,473,047) 23,530 1.6% (1,817,437) (320,860) 82.3% Windfall tax (504,506) (110,577) 393,929 356.2% (457,114) 47,392 110.4% Total operating expenses (2,001,083) (1,583,624) 417,459 26.4% (2,274,551) (273,468) 88.0% EBITDA 2,171,282 1,811,210 360,072 19.9% 1,786,564 384,718 121.5% Depreciation and amortization (534,349) (496,168) 38,180 7.7% (541,918) (7,569) 98.6% EBIT 1,636,933 1,315,042 321,891 24.5% 1,244,646 392,287 131.5% Finance costs (26,680) (39,251) (12,570) (32%) (41,034) (14,354) 65% Finance income 332,416 254,556 77,860 30.6% 161,949 170,467 205.3% Financial result 305,736 215,306 90,430 42% 120,915 184,821 252.9% Gross profit 1,942,669 1,530,348 412,321 26.9% 1,365,561 577,108 142.3% Income tax charge, net (315,713) (245,633) 70,080 28.5% (193,800) 121,913 162.9% Net profit 1,626,955 1,284,715 342,241 26.6% 1,171,761 455,194 138.8%
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Financial Highlights - Individual vs Consolidated financial performance as at 30.09.2025 - 6 01 Indicator [KRON] -INDIVIDUAL- -CONSOLIDATED- Diff 1 2 3 = (2-1) Revenues Sales of electricity ** 4,059,886 4,059,874 (12) Electricity transmission revenues 24,287 24,287 - Total revenues 4,084,173 4,084,161 (12) Other income 88,192 146,400 58,208 Total revenues 4,172,365 4,230,561 58,197 Depreciation and amortisation (534,349) (539,058) 4,709 Personnel expenses (523,347) (596,704) 73,357 Cost of traded electricity (192,691) (192,691) - Repairs and maintenance (88,438) (57,821) (30,618) Electricity transmission expenses (24,287) (24,287) - Costs with spare parts (25,773) (26,019) 245 Cost of uranium fuel (186,265) (186,265) - Windfall tax (504,506) (504,506) - Other operating expenses (455,776) (455,162) (614) Total operating expenses (2,535,432) (2,582,511) (47,079) Operating result 1,636,933 1,648,051 11,118 Financial costs (26,680) (35,653) 8,973 Financial income 332,416 284,418 (47,998) Financial result 305,736 248,765 (56,971) - - - Gross profit 1,942,669 1,896,815 (45,853) Part of the profit/ (loss) with associated entities - (2,128) (2,128) Income tax (315,713) (318,165) 2,452 Net profit 1,626,955 1,576,522 (50,433) Consolidation adjustment– ICO transactions - sales of energy made to EnergoNuclear Consolidation adjustment– ICO transactions – processing services invoiced by FPCU (processing uranium concentrate in UO2) Consolidation adjustment: ICO transactions services invoiced by Nuclearelectrica Serv to SNN Mainly forex exchange expenses - Energonuclear 50% of the IFRS result of associated entity RoPower Personnel 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 +20.7% (+1.68 mrd RON): ❑ +846 mil RON: increase in net book value of tangible assets (PPE), mainly due to: • +596 mil RON increase in advances recorded for the investment projects; • -506 mil RON depreciation for the period January-September 2025; • +756 mil RON representing the net value between additions and disposals in the period. ❑ +806 mil RON: increase in net financial assets valued at amortized cost mainly due to: • increase in the loan granted to the associated entity RoPower Nuclear SA: approx. +400 mil RON (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: +422 mil RON (including interest). 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 -18.4% (-1.1 bln RON): • -890 mil RON – decrease in bank deposits, cash and cash equivalents • -93 mil RON – decrease in trade receivables • -93 mil RON – decrease in other financial assets valued at amortized cost: liquidation of treasury certificates (-153 mil RON), purchasing new treasury certificates (+84 mil RON), reduction of VAT receivables (-81 mil RON) Non-current liabilities +53.1% (+212 mil RON) mainly from: +203 mil RON IEB (International Europena Bank) loan first withdrawal (40 mil EUR) Current liabilities -32.1% (-444 mil RON) decrease mainly coming from: the reduction of accounts payables and windfall tax balance Equity - increase with the profit of the previous period and decrease from reverse of revaluation reserve. 01 RON '000 30.09.2025 (unaudited) 31.12.2024 (audited) Variation (%) A B C = (A - B)/B Total non-current assets 9,813,793 8,133,815 20.7% Inventories 1,733,696 1,758,067 (1.4%) Trade receivables 254,716 347,264 (26.7%) Other financial assets at amortised cost 304,159 396,726 (23.3%) Non-current assets held for sale - 116 (100%) Cash and cash equivalents (incl. deposits) 2,600,288 3,490,743 (25.5%) Total current assets 4,892,859 5,992,916 (18.4%) Total assets 14,706,652 14,126,730 4.1% Share capital and premium 3,243,416 3,243,416 0% Prepaid share reserve 21,554 21,554 0% Revaluation reserve 237,972 280,106 (15%) Retained earnings 9,652,073 8,798,156 9.7% Total shareholder's equity 13,155,015 12,343,232 6.6% Long term borrowings 203,244 - 100% Long term lease liabilities 17,922 28,230 (36.5%) Provisions for risks and expenses 295,292 261,905 12.7% Other non-current liabilities 94,686 109,028 (13.2%) Total non-current liabilities 611,144 399,163 53.1% Accounts payable and other liabilities 844,304 1,270,284 (33.5%) Current portion of provisions for risks and expenses 86,656 109,523 (20.9%) Short term lease liabilities 5,924 4,528 30.8% Current portion of long term borrowings 3,609 - 100% Total current liabilities 940,493 1,384,335 (32.1%) Total liabilities 1,551,637 1,783,498 (13%) Total equity and liabilities 14,706,652 14,126,730 4.1%
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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 Energonuclear’s Cash and cash equivalents 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 30.09.2025 (unaudited) CONSOLIDATED 30.09.2025 (unaudited) DIFF A B C = B - A Non-current assets 9,813,794 9,739,104 (74,690) Current assets 4,892,858 5,051,295 158,437 Total assets 14,706,652 14,790,399 83,747 Shareholder's equity 13,155,014 13,061,990 (93,024) Non-current liabilities 611,144 614,568 3,424 Current liabilities 940,494 1,113,841 173,347 Total liabilities 1,551,638 1,728,409 176,771 Total equity and liabilities 14,706,652 14,790,399 83,747
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Sales of electricity 9 Electricity sales increase from 9M 2024 to 9M 2025 determined mainly by increase in weighted average selling price (w/out Tg) + 19.4%, for a quantity of electricity sold higher by +4% (w/out PE): - MACEE* : there were no sales on MACEE in 9M 2025, reduction of 1.8 bln RON - Competitive Market: +445 % increase in quantity sold, with +10.8% increase in average price; - Spot Market: -53.2% decrease in quantity sold with +31.2% increase in average price; - Balancing Market (PE): -37.6% decrease in quantity sold, with -27.2% decrease of price; 02
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Sales structure analysis 9M 2025 vs. 9M 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 9M 2025, represented 86.84% of the total sales of electricity (w/out PE), compared to 16.59% recorded in 9M 2024. The average selling price during the reporting period was 521.79 RON/MWh (w/out Tg), recording a 24.2% increase as compared to the average price recorded in 9M 2024, of 419.96 RON/MWh (w/out Tg). On the Spot Market (PZU + PI), the quantities of electricity sold during 9M 2025 represented 13.16% of the total sales volume (w/out PE), compared to 39.72% recorded in 9M 2024. The average price on spot market, achieved by SNN in 9M 2025 was 512.13 RON/MWh (w/out Tg), compared to 390.37 RON/MWh (w/out Tg) in 9M 2024. 02 Quantities 9M 2025 9M 2024 Variation comparative period 9M 2025 Variation Actual vs Budgeted actual actual [%] budgeted*) [%] MACEE - 4,020,026 (100%) - 0% Competitive Market 6,701,569 1,230,714 444.53% 6,932,330 (3.33%) Spot Market 1,015,302 2,167,196 (53.15%) 698,273 45.40% TOTAL 7,716,871 7,417,936 4.03% 7,630,603 1.13% 443.62 - 419.96 521.79 390.37 512.13 438.13 523.26 0 100 200 300 400 500 600 9M 2024 9M 2025 Sales prices evolution (RON/MWh w/out Tg) MACEE Competitive Market Spot Market Average price obtained by SNN
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OPEX 11 •9M 2025 OPEX: 2.5 bn RON: ➢ +456 mil RON /21.9% compared to 9M 2024 ➢ -281 mil RON / -9.98% below budget ❑ Increase in costs 9M 2025 vs 9M 2024, mainly from: ▪ Windfall tax / Contribution to the Energy Transition Fund: increase by +394 mil RON based on higher selling prices in 2025 compared to previous year, as well a lower cap value of 400 RON/MWh starting April 2024, as compared to 450 RON/MWh in 3M 2024; ▪ Depreciation and amortisation: +7.7% due to new assets put in function; ▪ Personnel expenses: +5.23% mainly as a result of wages increasing with the inflation rate; ▪ Other operating expenses: +5.61% due to the increase in legal and consulting services costs ▪ Cost of uranium fuel: expenses increase of 26.57%, due to increase in the weighted average cost of fuel bundles, which comprises all cost components; Compensated by: ▪ Cost of traded energy: -25.01%, due to decrease of energy purchased on spot market in 9M 2025 as compared to 9M 2024 ▪ 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 decrease, corelated with the decrease of the basis for computation of the contribution, represented by sales of energy 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) 9M 2025 actual % in total 9M 2024 actual VAR (abs) VAR % 9M 2025 budgeted VAR % 1 2 3= 1 - 2 4 = 3 / 2 5 6 = (1-5) / 5 Depreciation and amortization 534,349 21.1% 496,168 38,180 7.70% 541,918 (1.40%) Personnel expenses 523,347 20.6% 497,342 26,005 5.23% 577,750 (9.42%) Other operating expenses 262,622 10.4% 248,682 13,940 5.61% 256,490 2.39% Cost of traded energy 192,691 7.6% 256,942 (64,251) (25.01%) 340,662 (43.44%) Cost of uranium fuel 186,265 7.3% 147,162 39,103 26.57% 205,494 (9.36%) Technological and non- technological water and energy 116,463 4.6% 110,941 5,522 4.98% 119,340 (2.41%) Repairs and maintenance 88,438 3.5% 81,501 6,938 8.51% 107,806 (17.97%) ANDR contribution 73,189 2.9% 76,080 (2,891) (3.80%) 147,886 (50.51%) Cost with spare parts 25,773 1% 20,878 4,895 23.45% 34,907 (26.17%) Electricity transmission expenses 24,287 1% 27,927 (3,640) (13.03%) 23,591 2.95% ANRE contribution 3,501 0.1% 5,592 (2,091) (37.39%) 3,510 (0.27%) Total OPEX except Windfall tax 2,030,926 80% 1,969,215 61,711 3.1% 2,359,355 (13.92%) Windfall tax*) 504,506 19.9% 110,577 393,929 356% 457,114 10.37% Total OPEX 2,535,432 100% 2,079,792 455,639 21.9% 2,816,469 (9.98%)
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CAPEX 12 Capital expenditure of SNN during 9M 2025: ➢ 2.2 bln RON during 9M 2025 (9M 2024: 0.5 bln RON) out of total investment program of 3.431 bln RON. ➢ increased degree of completion compared to similar previous period: 9M 2025 → 64.57% vs 9M 2024 → 41.7% ➢ in 9M 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 30.09.2025 Budget 2024** Degree of completion 30.09.2024 [thousand RON] Ongoing investments 3,162,532 1,995,512 63.10% 1,077,126 346,222 32.1% Investments made on tangible assets 132,562 134,373 101.37% 129,625 113,912 87.9% Equipments 136,198 85,726 62.94% 105,171 87,223 82.9% Total value of investment program 3,431,292 2,215,611 64.57% 1,311,922 547,357 41.7%
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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 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. • The procurement procedure for the contract having as object: “Provision of services for the modernization of the Turbine, Generator and their Auxiliaries systems at Unit 1 of the Cernavoda NPP, with the sole bidder Arabelle Solutions Romania in association with Arabelle Solution France” was finalized and the signing of the contract is estimated to be achieved in the third quarter of 2025. • By Government Decision No. 586 of July 14, 2025, the environmental agreement was issued for the project Refurbishment of Unit 1 of Cernavoda NPP and expansion of the Spent Fuel Interim Storage with MACSTOR 400 modules, representing the fulfillment of the legal conditions for environmental impact assessment and providing the necessary legal framework for the continuation of the project. 04 • By EGMS decision no. 8/03.09.2025, it was approved the contracting, by SNN, as borrower, of a financing worth EUR 540 million from a banking syndicate led by J.P. Morgan, as lender, for the financing of the Project “Refurbishment of Unit 1 of the Cernavoda NPP”, the signing of the financing agreement taking place on September 24, 2025. • On September 3, 2025, civil construction works on the infrastructure necessary for the implementation of the refurbishment project began. The execution of civil construction works is an integral part of the Engineering, Procurement and Construction (EPC) contract, concluded between Nuclearelectrica and the international consortium formed by: Candu Energy Inc. - a company within the AtkinsRealis group, Ansaldo Nucleare, Canadian Commercial Corporation and Korea Hydro & Nuclear Power Co, on December 19, 2024. • On October 8, 2025, SNN announces the signing of a strategic agreement with the French group EDF, in this case with Arrabelle Solutions, for the Unit 1 Refurbishment project, which aims to advance the refurbishment works. Arabelle Solutions will provide equipment and services for the refurbishment of the Unit 1 turbo-generator of the Cernavoda nuclear power plant, as part of the refurbishment of Unit 1 and, consequently, the extension of its life by another 30 years.
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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 • By EGMS decision no. 8/03.09.2025, it was granted the approval for SNN to act as guarantor in favor of Energonuclear, for a financing of EUR 80 million granted by a banking syndicate led by J.P. Morgan, as lender, for the Project ‘Units 3 and 4 of the Cernavoda NPP’. The financing agreement was signed on September 24, 2025. • During January – September 2025, the project company, EnergoNuclear ✓ continued the preparatory activities for the development of Units 3 and 4 project, namely: developing the financial model, analysing 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 governance structure. ✓ the execution of the EPCM contract progressed in parallel with the initiation of negotiations with potential equipment suppli ers and the preparation of the project's governance 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 negotiations 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 favour 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. • On 26.06.2025, NuScale technology obtained approval from the US Nuclear Regulatory Commission (US NRC) for the standard SMR NuScale VOYGR design, with a modular power of 77MWe, intended to be used in the SMR Doicesti project. • The land transaction was completed at the level of Ropower Nuclear S.A., based on the mandate obtained from the General Meeting of Shareholders of RPN, at the beginning of June 2025. In this regard, the Board of Directors of SNN took note, by Decision no. 149 dated 26.06.2025, of the completion of the transaction regarding the acquisition of ownership rights over the Doicesti site by RoPower, as well as the implementation by SNN of the measures related to the acquisition of the land related to the SMR Doicesti nuclear power plant ordered by SNN Board of Directors Decision no. 8/08.05.2025.
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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 9 months of 2025, the following progress was made: – part of the contracting procedures for long-cycle equipment were continued and finalized; – following the completion of the excavation works in December 2024, the installation works of the waterproofing membrane were carried out and the concrete was poured to protect the waterproofing membrane; – in May 2025, CNCAN approval was obtained to begin the execution works on the foundation of the tritium removal facility; – on June 2, 2025, the pouring of the first concrete for the CTRF construction began in the presence of the Ambassador of the Republic of Korea to Romania and other guests; – starting with September 8, 2025, works began for pouring concrete at elevation 91 M.
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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 9M 2025: Anual limit: 6.481 9,.5 05 0.50 0.35 0.33 0.30 0.36 0.35 0.37 0.37 0.33 0.29 0.32 0.30 0.28 0.48 0.26 0.39 0.46 0.42 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 April May June July August September U1 emisions U2 emisions
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Technical performances 20 Nuclear fuel burn up factor (MWh/KgU) (Cumulated 9M 2025: 172 /Project estimated: min. 156) 05 168 168 167 166 166 166 164 167 169 180 178 178 176 160 186 179 176 178 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 April May June July August September 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 9M 2025: 87,26%) 05 97.86% 97.46% 97.05% 97.12% 63.56% 51.88% 93.13% 93.25% 94.42% 97.86% 97.67% 97.46% 97.37% 90.43% 84.04% 85.37% 86.37% 87.26% 0% 20% 40% 60% 80% 100% January February March April May June July August September 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 2025 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!