Current report pursuant to ASF Regulation No. 5/2018 on issuers of financial instruments and market operations

Report date: 15.05.2026

Name of the issuing entity: Societatea Nationala NUCLEARELECTRICA S.A.

Registered office: 48 Iancu de Hunedoara Boulevard, Sector 1, Bucharest

Phone/fax number: 021-203.82.00 / 021 – 316.94.00

Unique registration code with the Trade Registry Office: 10874881

Registration number in the Trade Register: J1998007403409

Subscribed and paid-in share capital: 3,016,438,940

Regulated market on which the issued securities are traded: Bucharest Stock Exchange

To:                  Bucharest Stock Exchange

      Financial Supervisory Authority

Important Announcement: Update on the Progress of the Doicesti Small Modular Reactor (SMR) Project

SN Nuclearelectrica SA announces that the Small Modular Reactor (SMR) Project is currently in the pre-Phase 3 (Pre-EPC) stage, which includes a list of activities to be carried out by RoPower Nuclear (the project company): completion of geotechnical investigations at the site, continuation of the licensing process, finalization of the pre-EPC contract negotiations and negotiations for the procurement of materials with long lead times, definition of supply chains for materials and equipment, and preparation of the company for the pre-EPC and EPC phases.

We remind you that, in accordance with the SNN Shareholders’ Resolution dated February 12, 2026, the Final Investment Decision (FID) was approved based on a series of additional conditions intended to establish a solid framework of support and cooperation, at the level of partnerships and authorities, for the optimal development and implementation of the project, which is a shared goal of the team.

In accordance with the preliminary activities for Phase 3 of the project’s development—activities explicitly aimed at addressing the conditions associated with the FID—teams of specialists from RoPower and SNN are currently working to meet these conditions, some of which are the responsibility of the companies, while others fall under the purview of government authorities.

The SMR program was launched in 2019 and has obtained corporate approvals in accordance with the provisions applicable to a company listed on the Bucharest Stock Exchange, including approval of the development strategy, in successive stages, adapted to the specific nature and regulations of the nuclear industry—an aspect applicable to any nuclear project regardless of technology—and coordinated by a robust team of specialists, specifically formed to ensure the project’s implementation in accordance with the highest standards, regulations, IAEA guidelines, and international best practices of the nuclear industry.

The SMR project in Doicesti, with SNN as a shareholder holding a 50% stake in the project company, RoPower, was effectively launched following the completion of the technology and site selection process in September 2022, upon the General Shareholders’ Meeting’s approval of the project implementation strategy.

In 2023 and 2024, the initial stages of the FEED 1 and FEED 2 technical analyses—which are mandatory for a nuclear project—were completed. During this period, independent IAEA missions were conducted at the selected site; their conclusions confirmed the steps taken and led to the implementation of additional measures. The FEED 2 deliverables—essentially the data that informed the decision to obtain FID—were completed on schedule and at a lower cost than estimated.

 The Doicesti SMR project, although with a lower installed capacity compared to large-capacity reactors, is nonetheless a major infrastructure project, designed to provide an essential feature to Romania’s energy security: flexibility in the energy system and complementarity with renewable resources. Furthermore, once implemented, the Doicesti SMR project has the potential to serve as a benchmark for other SMR projects at the national and regional levels, leading over time to economies of scale and replicable systems. This initiative predates the establishment of the EU-level Industrial Alliance for SMR.

The Doicesti SMR project is currently a concrete example of this alliance’s objective, which aims to ensure that the European energy transition includes a portfolio of low-emission solutions, emphasizing that SMRs represent not only a means of generating electricity but can also serve as a catalyst for the decarbonization of energy-intensive industrial sectors. The SMR Alliance will focus in the immediate future on three key aspects: accelerating cooperation among national authorities responsible for nuclear safety, strengthening ties between industry, research, and innovation organizations, and ensuring a sufficient and qualified workforce capable of supporting projects across the entire value chain: design, licensing, manufacturing, construction, and operation. Thus, at the European level, following the international initiative, SMRs have become an accepted, developed, and accelerated reality for security of supply and decarbonization. The interest in Generation III+ technologies, such as SMRs, or future Generation IV technologies, like the Alfred project, is significant and is certainly based on considerations of security and energy independence for the EU and its member states, as well as economic growth and technological development at the EU level.

As part of these concrete initiatives at the EU level, the SMR Doicesti project will be one of many such projects, regardless of the technology used, as there is currently significant interest among member states in this type of technology.

In this context, with a particular focus on Romania, the SMR Doicesti Project presents enormous potential for the development of the Romanian nuclear industry, Nuclearelectrica, the supply chain, the associated educational system, and for attracting investment.

Furthermore, the Doicesti SMR Project is an integral part of Nuclearelectrica’s Investment Strategy, approved by SNN shareholders, alongside the Refurbishment of Unit 1 and the Units 3 and 4 Project. Alongside the Units 3 and 4 Project (for which a Support Agreement at the level of law—Law 24/2023—was unanimously approved by Parliament), the SMR Project is an optimal solution for expanding Romania’s nuclear program, not only in terms of increasing installed capacity but also in terms of technological advancement.

Similar to the Units 3 and 4 Project, the SMR Project can benefit from the support of the authorities to complete a project that is unique in Europe and a new foundation for the development of the Romanian nuclear industry.

Nuclearelectrica, in compliance with the terms and conditions set forth in the corporate approvals obtained, in accordance with its status as a publicly traded company, and in accordance with the principle of the efficient use of funds that have already been approved and allocated, will continue to develop this project in accordance with the Romanian government’s international agreements.

Cosmin Ghita

Chief Executive Officer