2025 Green Bonds Allocation Report

Societatea Energetica Electrica SA

14 July 2026

 

To:        Bucharest Stock Exchange (BVB)

Luxembourg Stock Exchange (LuxSE)

London Stock Exchange (LSE)

Financial Supervisory Authority of Romania (ASF)

Current report pursuant to Law no. 24/2017 on issuers of financial instruments and market operations (republished) and to ASF Regulation no. 5/2018 on issuers of financial instruments and market operations

Date of the Report: 14 July 2026

Name of the issuing entity: Societatea Energetica Electrica S.A. (Electrica or ELSA)

Registered office: 9 Grigore Alexandrescu Street, District 1, Bucharest, Romania

Telephone number: 004-021-2085035

Sole fiscal registration code: RO 13267221

Trade Register order number: J2000007425408

Subscribed and paid-up share capital: RON 3,395,530,040

Regulated market on which the issued securities are traded: Bucharest Stock Exchange (BVB: EL si EL30E), London Stock Exchange (LSE - ELSA and 51FL) and Luxembourg Stock Exchange (LuxSE - XS3111004241)

Important event to be reported: Status of the use of proceeds from the green bond issuance (BVB ticker: EL30E and LuxSE: ISIN - XS3111004241)

Societatea Energetică Electrica S.A. (Electrica) hereby informs bondholders, investors, and the market regarding the status of the allocation of proceeds obtained from the green bond issuance in the amount of EUR 500,000,000, with an interest rate of 4.375% per annum, due on 14 July 2030, listed under ticker symbols LuxSE: ISIN XS3111004241 and BVB: EL30E (the "Bonds").

In accordance with the Green Finance Framework and the Bond Prospectus, the Company presents the correlated Allocation Report and Impact Report. Detailed information is available on Electrica's dedicated webpage: Electrica - Bonds.

Project Evaluation and Selection Process

The identification, evaluation, and selection of projects financed from the issuance proceeds are carried out based on the eligibility criteria established in the Green Finance Framework. These projects are subject to review and approval by decision of the Green Finance Committee (GFC), established within Electrica in accordance with the Green Finance Framework.

Allocation of Proceeds Report

As of the date of this report, the project approval process by the Green Finance Committee is ongoing. Pending allocation, the net proceeds raised from the bond issuance (EUR 494,715,000) are temporarily invested in accordance with the Group's treasury policies, aimed at achieving optimal yields to support current operations. Details regarding these investments are disclosed in the published financial statements.

To avoid any confusion, Electrica has not financed and/or refinanced, and will not finance and/or refinance, any economic activity dedicated to hard coal, lignite, fossil fuels, tobacco, and weapons.

In order to allocate the funds within the committed 36-month timeframe from the issuance date, Electrica maintains a project pipeline in various stages of development. This includes both capacities for which engineering, procurement, and construction (EPC) contracts have already been signed, and projects currently in the tendering or permitting phase:

Project / Legal Entity	Type[1]	EU Economic Activity[2]	Capacity	Investment Value (EUR mn.)	Estimated time of completion	Observations
PV Bihor 1 / Foton Power Energy S.R.L., 100% owned by ELSA	PV + BESS	4.1+4.10	77.5 MWp PV 17 MWh BESS	EUR mn. 36.6	Q2 2027	EPC contract signed in May 2026
PV Satu Mare 3 / New Trend Energy S.R.L., 100% owned by ELSA	PV	4.1	62.5 MWp PV	EUR mn 27.9	Q2-Q3 2027	EPC contract signed in June 2026
onW Crucea Est / Crucea Power Park S.R.L., 100% owned by ELSA	onW (Onshore Wind)	4.3	138 MW onW 60 MWh BESS	EUR[3] 253 mn.	Phase 1 (~78 MW in Q4 2027) Phase 2 Q3-Q4 2028)	Currently in the evaluation phase of bids received for the supply of wind turbines
BESS Fantanele / ELSA	BESS	4.10	69.93 MWh BESS	EUR 16.5 mn.	Q3-Q4 2026	EPC contract signed, in implementation Non-reimbursable EU funding of up toEUR 3.4 million secured (click here):
BESS Vulturu / ELSA	BESS	4.10	22.5 MWh BESS	EUR ~25.3 mn.	Q1 - Q2 2027	Details here. Non-reimbursable EU funding of up to EUR 1 mn. secured. This storage system is co-located with the Vulturu PV park, operational since July 2025.
Other Standalone Storage Capacities	BESS	4.10	780 MWh	Values to be communicated upon individual project finalization	Under development; Q4 2027-Q2 2028	Grid connection permits (ATR) were obtained until the end of June 2026 for 19 projects, with a total capacity of approximately 780 MWh
TOTAL	PV		140 MWp
	onW		121 MW
	BESS		949,43 MWh

Impact Report

Since the targeted projects are currently in pre-operational stages, the technical and environmental impact indicators have not yet been calculated. The expected impact indicators (installed capacity in MW, estimated annual generation in MWh, and avoided greenhouse gas emissions in tonnes of tCO2 equivalent/year) will be reported periodically following the commissioning of the respective assets

External Verification (Audit Report)

In accordance with the commitments set forth in the Green Finance Framework, for future reporting periods where funds are effectively allocated to projects based on GFC decisions, Electrica will request a limited assurance report from its external auditor.

Details regarding the July 2025 green bond issuance can be found on Electrica's website here, as well as on the webpages of the regulated markets on which they are traded.

IR Contact: [e-mail] ; [phone]

Chief Executive Officer

Alexandru Chirita

Chief Financial Officer

Costin Iordache

Chief Business Development Officer

Andreea Lambru

Head of Investor Relations

Raluca Kasap

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[1] PV - photovoltaic park; onW - onshore wind farm; BESS - battery energy storage system.

[2] 4.1 - Electricity generation using solar photovoltaic technology; 4.3 - Electricity generation from wind power; 4.10 - Storage of electricity

[3] According to the note for the approval of the investment by the EGMS.

 

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