<p>Nuclearelectrica announces that the Board of the European Investment Bank (EIB) approved on July 15, 2026 the granting of a 800 million euro loan for the Cernavoda NPP Unit 1 Refurbishment Project, a historic financing for the local energy industry.</p>
<p>In accordance with the applicable legal provisions, Nuclearelectrica will submit to its shareholders’ approval, in a future AGM, the contracting, by the company, as borrower, of the 800 million euro loan approved by the EIB.</p>
<p>The Project’s financing strategy envisages the use of a mix between SNN’s own capital and loans/guarantees obtained from international financial institutions, export credit agencies (ECAs) and commercial banks. The Project financing from attracted sources is carried out in two stages, correlated with the Project implementation schedule. Thus, for the preliminary stage of the Project, the financing sources were secured, by signing, on September 24, 2025, a loan agreement worth 540 million euro, with a syndicate of banks led by JP Morgan SE, as financial arranger.</p>
<p>Nuclearelectrica recorded a net profit increase of 40.4% at the end of the 2025 financial year compared to the 2024 financial year and a net profit increase of 72% in the first quarter of 2026 compared to the previous similar period, growth and financial stability that allow safe investments and operation in a volatile climate, with developed resilience in the medium and long term.</p>
<p>The Cernavoda NPP Unit 1 Refurbishment Project is currently, according to the development strategy approved by the shareholders, in the second phase of development, the activities related to this phase including obtaining the necessary permits, contracting engineering and construction services, purchasing materials and equipment, but also ensuring the financing necessary to complete the Project. Civil construction works of the Unit 1 Refurbishment Project began in 2025, continuing in 2026.</p>
<p>“The involvement of renowned international banking institutions in ensuring external financing of the Cernavoda NPP Unit 1 Refurbishment Project represents a historic step for the development of the civil nuclear energy sector, at the same time attesting the development of a robust project, correctly managed from a technical, operational and financial point of view, and, simultaneously, attesting a strategic project for Romania, for the next 30 years, in line with European energy and political needs, including the focus on the expansion or development of nuclear capacities. According to the rigors of the nuclear industry, the organization and conduct of all works specific to the Unit 1 Refurbishment Project is carried out in compliance with the highest industry standards and practices. The refurbished Unit 1 means another 9%/year of Romania’s clean, safe, stable energy for the period 2030-2060” – Cosmin Ghita, General Manager Nuclearelectrica.</p>
<p>The last phase of development of the Project, the third, will take place in the period 2027-2030 and will involve the shutdown of Unit 1 for major retrofitting works, with a focus on re-tubing the reactor. This process will continue with technological tests and the completion of the Project through acceptance and decommissioning of temporary facilities, preparing Unit 1 for the resumption of operations under optimized conditions, in 2030.</p>
<p>Unit 1 of the Cernavoda NPP was put into operation in 1996, and to date, the operation of Unit 1 has led to the avoidance of 145 million tons of CO2 in the atmosphere and has safely delivered over 150 million MWh, at a capacity factor of over 90%, the unit being, based on the capacity factor, among the top 3 nuclear reactors globally.</p>
