Electrica Regs Regulatory News (ELSA)

Summary of the IFRS-EU Interim Consolidated Results for Q1 2026 - 27 May 2026

58.2% increase in net profit and 25.7% in EBITDA at consolidated level in Q1 2026

Evolution of main indicators in Q1 2026 compared to Q1 2025:

§ EBITDA - RON 577.5 mn., an increase of 25.7% or RON 118.3 mn.;

§ Revenues - RON 3,094.1 mn., an increase of 22.8% or RON 574.7 mn.;

§ Net profit - RON 309.6 mn., an increase of 58.2% or RON 114.0 mn.;

§ CAPEX PIF - RON 58.9 mn., a decrease of 29.9% or RON 25.1 mn. compared to the investments realized in Q1 2025

Statement from Alexandru-Aurelian Chirita, CEO of Electrica S.A.:

"The first quarter of 2026 marked a fundamental shift in the energy market. The return to competitive market mechanisms, following a prolonged period of volatility and intervention, redefined the conditions under which all players in the sector operate. In such an environment, competitive advantage is built on operational discipline and the ability to allocate capital efficiently. Electrica Group's results for this quarter confirm the strength of its core business lines.

The supply segment went through one of the most challenging periods in recent years. The transition to a competitive framework structurally changed market dynamics, while this quarter's performance shows that we managed the transition in a balanced and controlled manner. In distribution, the investment programme and cost control measures are progressively reflected in operational indicators. The commissioning of the Vulturu and Satu Mare 2 photovoltaic projects strengthens the generation segment and expands the Group's renewable energy portfolio.

Looking ahead, Electrica's trajectory will increasingly be shaped by the scale of the projects currently under development. Grids, generation and storage capacities represent the strategic directions on which the Group is building its position in a sector undergoing accelerated transformation."

Analysis of the consolidated financial indicators

The main results presented below are extracted from the consolidated interim not audited and not reviewed financial statements as at and for the period ended 31 March 2026, prepared in accordance with IFRS-EU:

*Amounts are rounded to the nearest whole value

Source: Electrica

In Q1 2026, at the Electrica Group level, EBITDA recorded an increase of 25.7%, respectively by RON 118.3 mn., reaching a value of RON 577.5 mn., compared to the value of RON 459.3 mn. achieved in the first quarter of 2025. The EBITDA growth is generated mainly by the variation of the supply and distribution segments, both experiencing an upward trend in the first three months of 2026 compared to the same period in 2025.

Of the two, the variation of the supply segment had the largest weight, recording an EBITDA improvement of +RON 76.0 mn., reaching the value of RON 113.1 mn. from RON 37.1 mn. in the previous period. The increase is due to the improvement of the segment's operational performance, having a revenue growth of RON 557.6 mn., and a decrease in operating expenses of RON 117.1 mn..

The operating profit for Q1 2026 recorded an increase of RON 113.7 mn. up to the value of RON 427.1 mn., compared to the value of RON 313.4 mn. achieved in Q1 2025. This increase is mainly due to the decrease in operating costs by RON 129.8 mn., positive impact offset by the decrease in operating income by RON 16.1 mn. (impact generated by the termination of the support scheme in the supply segment, diminished by the increase in revenues from current activity).

Net profit for Q1 2026 recorded an increase of 58.2% or RON 114.0 mn., reaching the value of RON 309.6 mn.. This result is mainly driven by the increase in operating profit, supplemented by the positive impact from the improvement of the financial result in the first quarter of 2026, supported by yields obtained from placing excess liquidity.

Segment analysis

In the supply segment, revenues recorded a significant increase in Q1 2026 by approximately RON 557.6 mn., or 30.7%, compared to Q1 2025, reaching the value of RON 2,375.7 mn.. The increase in revenues from the supply of electricity and natural gas was mainly determined by setting the electricity sales price through competitive mechanisms, adapted to the company's strategy. This positive effect was partially offset by a 6.9% decrease in the quantity of energy supplied on the retail market.

The termination of the capping scheme allowed the supply subsidiary to build its pricing strategy based on competitive market criteria and profitability, adapting it according to customer categories. The supply segment's contribution to the Group's consolidated revenues is 76.2%, while its contribution to the Group's EBITDA is 19.6%.

Subsidy revenues for Q1 2026 amounted to RON 13.9 mn. compared to RON 622.7 mn. recorded in Q1 2025. As of 31 March 2026, the estimated subsidies to be received from the authorities are in amount of RON 2,532.1 mn. (Ministry of Energy/ANPIS: RON 2,495.9 mn.; AJPIS: RON 36.2 mn.).

In the distribution segment, revenues increased by approximately RON 3.9 mn., or 0.3%, to RON 1,302.1 mn. (of which RON 718.8 mn. represent revenues from external customers), compared to Q1 2025, as a result of the 1.5% increase in the volume of distributed electricity compared to Q1 2025. EBITDA in the distribution segment had a positive evolution of RON 38.4 mn., mainly from the optimization of operating expenses.

The contribution of the electricity distribution segment to the Group's consolidated revenues is 23.2%, while its contribution to the Group's EBITDA is 82.0%.

In the production segment, revenues increased by approximately RON 1.6 mn., or 65.8%, to RON 4.0 mn. compared to the first quarter of 2025, following the operationalization of the Vulturu and Satu Mare 2 photovoltaic parks.

OTHER IMPORTANT OPERATIONAL INFORMATION

§ Distributed electricity volumes - 4.7 TWh, slightly up by 1.5% compared to Q1 2025, especially on high voltage (5.5%). Distributie Energie Electrica Romania (DEER) serves approximately 4.011 million users in 18 counties, covering an area of approximately 40.8% of Romania's surface area.

§ The Regulated Asset Base (RAB), in nominal terms, is estimated at the end of Q1 2026 at RON 8.8 bn..

§ In Q1 2026, DEER carried out and commissioned investments amounting to RON 58.9 mn., out of which: RON 58.4 mn. represent works from the 2026 investment plan (including additional works), respectively a degree of realization of 7.51% of the value of the annually planned commissioning program, and RON 0.5 mn. represent investment works carried forward from 2025.

§ Volumes of electricity supplied to retail market in detail - 1.9 TWh, decreasing by 6.9% compared to Q1 2025; Electrica Furnizare serves approx. 3.27 mn. consumption places (the largest portfolio in Romania), out of which 1.77 mn. consumption places on the competitive market, and 1.50 mn. consumption places under universal service and as supplier of last resort;

§ Supply market share - Electrica Furnizare is the second largest electricity supplier in Romania (based on volumes supplied), with a total market share of 15.13% in January-February 2026 according to the latest available ANRE reports, while on the competitive market it ranks third with 11.74%. The group's supply subsidiary also ended 2025 in 3rd place, with a share of 14.71%, while on the competitive market it occupies the same position (third) with 10.80%.

§ Produced electricity volume - 7.5 GWh, over 3 times more than in Q1 2025. The growth reflects the start of operations of Vulturu and Satu Mare 2 photovoltaic parks after the second half of 2025.

§ In the production segment, Electrica Group has a portfolio of renewable energy projects, both photovoltaic and wind, with a total capacity of 307.5 MW, either operational or in various stages of development. Of these, 46.5 MW are already operational. Additionally, Electrica has energy storage projects of approximately 1,170 MWh in various stages.

***

The results presented in this announcement are based on the consolidated interim financial statements not audited and not reviewed as at and for the period ended 31 March 2026, prepared in accordance with IFRS-EU.

The documents related to the Q1 2026 results are available on Electrica's website at the following link: https://www.electrica.ro/en/investors/results-and-reports/financial-results/financial-statements-for-q1-2026/.

We remind you that Electrica's management is organising on 28 May 2026, 16:00 (Romanian time), a web conference for analysts and investors: Presentation of Electrica Group Q1 2026 Financial Results. The web conference can be accessed online under the following link: https://87399.themediaframe.eu/links/electrica260528.html

Contact Details: Electrica Investor Relations - ir@electrica.ro ; +40731796111

CEO CFO

Alexandru-Aurelian Chirita Costin Iordache