Hidroelectrica announces that the Supervisory Board decided, as a result of the vacancies of the two positions within the Management Board and in order to ensure the stability of the Company’s governance and operations, to assign the CEO responsibilities to Bogdan Badea, Member of the Management Board, and the CFO responsibilities to Radu Constantin, Member of the Management Board.

Following the meeting held on 19 September, the Supervisory Board, together with Karoly Borbely – Chairman of the Management Board/CEO, and Marian Fetița – Member of the Management Board/CFO, agreed by mutual consent to terminate their mandate contracts, effective as of 19 September 2025.

These decisions were taken considering:

– The obligations undertaken by Romania under milestone 121 of Component 6 – Energy of the National Recovery and Resilience Plan (NRRP), as well as the European Commission’s Decision C(2025) 3490 of 28 May 2025 on the partial suspension of payment, which requires that the situation identified by the European Commission with respect to Milestone 121 be remedied within six months

– The letters from the Ministry of Energy dated 4 July 2025 and 18 September 2025, requesting the prompt implementation of measures to address the issues highlighted in the Commission’s Decision concerning the situation of the Company’s Management Board

– The information note regarding the status of implementation of Milestone 121, presented and discussed by the Ministry of Energy in the Government meeting of 11 September 2025 and made publicly available

– The Supervisory Board’s monitoring of compliance with the best corporate governance practices applicable to a company listed on the regulated market of the Bucharest Stock Exchange, in line with the relevant legal provisions, taking into account the protection of the integrity of the Company’s interests and those of all its shareholders.