To: Bucharest Stock Exchange

       Romanian Financial Supervisory Authority

CURRENT REPORT 16/2026

Pursuant to Law no. 24/2017 on issuers of financial instruments and market operations and to the Romanian Financial Supervisory Authority Regulation no. 5/2018 on issuers and operations with securities, as subsequently amended and supplemented and the provisions of Article 99 of the Bucharest Stock Exchange Code, Title II, Issuers and Financial Instruments.

Important events to be reported: Q1 2026 Financial Results

Premier Energy Group, a leading vertically integrated utility and infrastructure company in Southeastern Europe and a listed company on the Bucharest Stock Exchange, reports solid operational and financial performance for the first quarter of 2026. Normalized revenue increased by 12% year-on-year to EUR 536 million, while normalized EBITDA reached EUR 52 million, up 23% compared to 1Q 2025. On a reported IFRS basis, revenue amounted to EUR 519 million, a 7% increase year-on-year, while adjusted EBITDA reached EUR 35 million. Net profit amounted to EUR 13 million, while illustrative normalized net profit increased 16% year-on-year to EUR 29 million. The performance was supported by higher renewable electricity production following the acquisition of the 158 MW Hungarian wind portfolio, improved profitability in the supply segment and continued investments in renewable generation and regulated energy infrastructure across Romania and the Republic of Moldova.

Jose Garza, CEO of Premier Energy Group, stated: “The first quarter of 2026 reflects the benefits of the scale and diversification we have been building over the past years. In a market environment that remains volatile and increasingly competitive, particularly on the supply side, our vertically integrated platform allowed us to capture value across generation, supply and regulated infrastructure while continuing to expand our asset base. Beyond the quarterly performance, the period was important from a strategic execution perspective: we finalized the Hungarian wind acquisition, advanced our solar and storage projects toward commissioning and in April announced the transformational acquisition of Distributie Energie Oltenia. These steps strengthen the Group’s long-term growth profile and further reinforce Premier Energy’s position as a leading vertically integrated energy infrastructure platform in the region.”

Electricity production continued to expand meaningfully during the quarter, with owned renewable electricity production increasing by 57% year-on-year to 169 GWh, supported primarily by the acquisition of the 158 MW operational wind portfolio in Hungary completed in January 2026, alongside newly commissioned production assets in Romania and Moldova. On a like-for-like basis, renewable production increased by 2% year-on-year. The cogeneration balancing plant generated 24 GWh during the quarter. The electricity production segment recorded revenues of EUR 28 million in 1Q 2026, up 58% year-on-year, while EBITDA increased 76% year-on-year, to EUR 17 million, reflecting the contribution of newly acquired and developed assets.

Electricity and gas distribution activities remained a stable contributor to the Group’s integrated operations. The segment generated normalized revenues of EUR 45 million in 1Q 2026, up 19% year-on-year, while EBITDA amounted to EUR 21 million, down 19% year-on-year, reflecting primarily the implementation of the lower regulatory WACC in Moldova starting from the new regulatory period introduced in June 2025. Electricity distribution continued to benefit from a growing regulated asset base, with management estimating the electricity distribution RAB value at approximately USD 216 million for 2026. The natural gas distribution business continued expanding its network in Romania, partially offsetting the impact of the reassignment of last-resort concessions completed in late 2025. The overall regulated asset base across the electricity and natural gas distribution businesses reached approximately EUR 300 million.

Electricity and gas supply operations continued to perform solidly in 1Q 2026 despite an increasingly competitive market environment. Electricity supplied volumes remained broadly stable year-on-year at 1.9 TWh, with the Group maintaining its position as the fourth-largest electricity supplier in Romania and the leading supplier in the Republic of Moldova. Natural gas supplied volumes increased by 3% year-on-year to 3.2 TWh, while the natural gas customer base amounted to approximately 152 thousand customers. The supply segment recorded normalized revenues of EUR 464 million, up 9% year-on-year, and normalized EBITDA of EUR 17 million in the first quarter of 2026, which more than doubled compared to Q1 2025, supported by improved supply profitability and a lower-than-anticipated impact from intraday electricity price volatility.

The developments segment continued advancing the Group’s renewable energy pipeline across Romania and Moldova. During the first quarter of 2026, the Group invested EUR 5 million into renewable developments, with associated project debt amounting to EUR 24 million. The Group successfully completed construction works for 137 MW DC of solar plants with 46 MWh of co-located battery storage, which are currently undergoing final commissioning and conformity testing ahead of the expected start of operations in June 2026. In parallel, Premier Energy commenced construction works for its 200 MW / 400 MWh Battery Energy Storage System project near Iasi, Romania, which is expected to become one of the largest battery storage facilities in Eastern Romania. The Group also secured green financing of up to EUR 100 million from CSOB, intended to support battery storage and renewable energy developments.

Peter Stohr, CFO of Premier Energy Group, commented: “Our results this quarter highlight the increasing quality and resilience of Premier Energy’s earnings profile. While reported IFRS profitability continues to be influenced by temporary tariff deviation mechanisms in Moldova, the underlying operational performance across the business remained strong, reflected in the 23% increase in normalized EBITDA. At the same time, we continued investing into projects that will begin contributing to revenues and profits in the coming quarters, while maintaining a solid liquidity position and leverage. This gives us substantial flexibility to continue executing both our development pipeline and acquisition strategy, including the acquisition of the Evryo Group, while preserving balance sheet strength.”

The Group ended the first quarter of 2026 with a net debt position of EUR 260 million and a working capital adjusted net debt position of EUR 33 million. The balance sheet reflects ongoing investments in renewable generation developments, battery storage systems and regulated distribution infrastructure, alongside the Hungarian wind acquisition completed in January 2026. As of 31 March 2026, the Group’s total assets amounted to EUR 1.3 billion, supported by ongoing investments into renewable generation, battery storage and regulated assets currently under development and commissioning.

Note on normalized and adjusted metrics

Normalized revenue and EBITDA exclude the temporary effects of tariff deviations and other timing differences that can occur in Moldova’s regulated electricity segment, ensuring comparability across reporting periods. Adjusted EBITDA removes one-off items, including acquisition-related gains or extraordinary market effects. Adjusted net debt reflects the Group’s net financial position after deducting non-debt working capital balances to present a clearer view of underlying liquidity.

Report availability

The Group’s interim condensed consolidated financial statements for Q1 2026 (unaudited), accompanied by the Directors’ Report, are available on the company’s website, www.premierenergygroup.eu, in the Investors section, on the website of the Bucharest Stock Exchange, www.bvb.ro, as well as are attached to this Report. 

Earnings call

The conference call for presenting the financial results for Q1 2026, will be organized in English, on 28.05.2026, at 10:00 AM Bucharest time (EEST) / 09:00 AM CEST / 08:00 AM UK. To participate in the Q1 2026 results call, the interested parties are invited to register at: https://premierenergygroup.eu/contact-investors/.

Jose Garza                                                                               Peter Stohr

CEO                                                                                             CFO