S.N. Nuclearelectrica (SNN) investor relations material

Executive summary

• Net profit for Q1 2026 reached RON 887.8 million, up 72.8% year-over-year and 5.9% above budget, driven by higher electricity sales prices and elimination of the windfall tax.

• EBITDA increased 63.9% to RON 1,156.6 million, with EBIT up 79.2% to RON 950.1 million compared to Q1 2025.

• Total consolidated assets increased to RON 19.98 billion as of 31 March 2026, up from RON 18.64 billion at year-end 2025.

• Major strategic projects advanced, including Cernavoda Units 3 & 4, Doicesti SMR, and Unit 1 refurbishment.

• Operational performance remained strong, with a capacity factor of 94.58% and radioactive emissions within approved limits.

Financial highlights

• Electricity sales increased due to a 13.4% rise in average selling price, despite a 3.3% decrease in quantity sold.

• Windfall tax expense was zero in Q1 2026, compared to RON 341 million in Q1 2025, reducing total operating expenses by 41.7%.

• Operating expenses rose 3%, mainly from a regulatory increase in waste disposal tax and inflation.

• Net profit exceeded the Q1 2026 budget by 5.9%.

• Cash and bank deposits (maturity >3 months) rose 34% to RON 970 million.

Outlook and guidance

• Positive results expected for Q2 2026, though an unplanned stoppage at Unit 2 may impact results; full impact yet to be determined.

• Ongoing investments in Unit 1 refurbishment, Units 3 & 4, SMR, Tritium Removal Facility, and Medical Isotopes Project are progressing as planned.

• The 2026 Income and Expenditure Budget was cleared by the Board and awaits shareholder approval.