Company Announcements

Bucharest, 30 JULY 2025

PRESS RELEASE

Electrica lists the largest issue of green, corporate, and non-financial bonds on the Bucharest Stock Exchange (BVB), worth EUR 500 million

Electrica, a leading company in the national economy and a major player in electricity distribution, supply, and production in Romania, listed on the Bucharest Stock Exchange (stock symbol: EL) since 2014, will launch its first bond issue on the Regulated Market of the BVB on 30 July 2025 (stock symbol: EL30E). It is the largest issue of green, corporate, and non-financial bonds on the Romanian capital market, reaching a total value of €500 million.

The bonds, with the stock symbol EL30E, are registered, non-convertible, unsecured, denominated in euro, have a nominal value of €1,000 each, and will reach maturity on 14 July 2030. They have an annual interest rate of 4.375%. Following the sale offer carried out by Electrica, 155 bondholders from 31 countries subscribed, all of them legal entities.

Before being traded on the local capital market, Electrica's green bonds were listed on 14 July 2025, on the Luxembourg Stock Exchange, with the issuance having been approved by the competent institution in Luxembourg (CSSF Commission de Surveillance du Secteur Financier). The prospectus was also passported by the CSSF to the ASF, and the ASF issued the Certificate of Registration of Financial Instruments (CIIF) on 18 July 2025.

The funds raised through Electrica's first bond issue will be used to finance and/or refinance eligible green projects, which involve projects related to renewable electricity, in accordance with the provisions of Electrica's Green Financing Framework and the prospectus approved by the CSSF.

Electrica's shares have been listed on the BVB Regulated Market since 2014. In the 11 years since its listing, Electrica has recorded a price return of 52%, while the total return has been over 100%. The company's market capitalisation has now reached over RON 5.7 billion. Over the years since its listing, Electrica has paid gross dividends totaling RON 2.10 billion.

Global depositary receipts (GDRs) based on shares issued by Electrica have also been listed on the main market of the London Stock Exchange since 2014.

Electrica has been part of the main index of the Romanian capital market, the BET index, since August 2014. Since then, the BET index has recorded a return of over 180%. Electrica is also included in nine other BVB indices: BET-NG, BET-XT, BET-EF, BET-BK, BETPlus, ROTX, and the BVB total return indices. Since 2024, the company has also been included in the FTSE Global All Cap indices, alongside 13 other local companies that are part of the FTSE Russell indices dedicated to emerging markets. Electrica is also among the 35 Romanian companies included in the MSCI Frontier Markets index since 2014.

In the 11 years since Electrica's shares were listed on the Bucharest Stock Exchange, investors have made over 316,550 transactions involving over 428 million Electrica shares, with a total value of over RON 5 billion. Since January 2023, Electrica has benefited from Market Maker services provided by BRK Financial Group and Wood & Company Financial Services.

"The listing of this record green bond issuance isa key milestone in Electrica's strategy, aimedto support the energy transition and to strengthen our position in the Romanian energy market. The strong interest from international investors confirms their trust in our vision and in the company's ability to implement ambitious projects, that accelerate the development of renewable energy and contribute significantly to the future of the green economy. This issuance enables us to finance strategic investments in sustainable energy infrastructure and to achieve our long-term sustainable growth objectives," said Alexandru Chiriță, CEO of Electrica.

"The reputation that Electrica has built over time among the general population and, in particular, among investors, was particularly reflected in its first bond issue. We are talking about green, corporate, and non-financial bonds, the largest issue of its kind in Romania, worth €500 million, with the aim of protecting environmental resources. Electrica is an example of an issuer that contributes significantly to the rise of the local capital market and is one of the engines of the Romanian economy. At the same time, the presence of Electrica shares in the MSCI Frontier Markets Index and the FTSE Russell Global All Cap Index maintains our important position on international markets and brings us closer to MSCI recognition as an Emerging Market," said Radu Hanga, President of the Bucharest Stock Exchange.

"The participation of the European Investment Bank as one of the key investors illustrates Romania's strategic alignment with European decarbonization and digitalisation objectives. The success of this issuance confirms that Romania has viable energy transition projects that are essential for meeting continental climate targets. The massive oversubscription reflects investors' appetite for financial instruments that support the energy transition and shows that the Romanian capital market can offer sophisticated instruments with attractive returns and controlled risk profiles that contribute to the stability of the financial system. On behalf of the Bucharest Stock Exchange, I would like to thank Electrica for its confidence in our market and congratulate everyone involved-investors, financial partners, consultants, and the BVB team-for their joint effort that made this success possible!" said Remus Vulpescu, CEO of the Bucharest Stock Exchange.

"This transaction is a strategic milestone for Romania's capital market and validates Electrica's commitment to sustainable investments. As Global Coordinator, BCR, together with other leading international and local financial institutions, played a key role in structuring and securing the success of the largest non-financial corporate green bond issuance in Romania.

Our capital markets expertise and ability to facilitate access to a diversified base of institutional investors have contributed to positioning Electrica as a credible issuer in the sustainable finance universe. The exceptional level of oversubscription also confirms the market's growing appetite for green projects, as well as the need to strengthen financial infrastructure in order to generate long-term value for both the economy and the environment. We are proud to stand alongside Electrica at the listing of this issuance on the Bucharest Stock Exchange and remain committed to supporting the company's strategic development plans", mentioned Cosmina Plaveti, Head of Investment Banking BCR. 

The bond issue was assisted by BCR - Banca Comercială Română, BNP PARIBAS, Citigroup Global Markets Europe AG, ING Bank N.V., J. P. Morgan SE, Raiffeisen Bank International AG, as Joint Global Coordinators, and BT Capital Partners, Intesa Sanpaolo S.p.A., Société Générale, and UniCredit Bank GmbH as Joint Bookrunners.

Fitch Ratings assigned a "BBB-" rating to Electrica's bonds, in line with the expected rating that Fitch assigned on 2 July 2025. The corporate rating, last confirmed by Fitch in March 2025, is "BBB-" with a stable outlook.

About Electrica

The Electrica Group is a key player in the Romanian electricity distribution, supply, and production market, as well as one of the country's most important energy service providers.

The Group provides services to approximately 4 million users, covering 18 counties in three geographical areas for electricity distribution (Northern Transylvania, Southern Transylvania, and Northern Muntenia), and throughout the country for electricity supply and maintenance and energy services.

Since July 2014, Electrica, the Group's holding company, has been listed on the Bucharest and London stock exchanges, with majority private capital. It is the only Romanian listed company that operates in the fields of electricity distribution, supply, and production. Further information can be found on www.electrica.ro.

About the Bucharest Stock Exchange

BVB is the only securities market operator in Romania. BVB, listed on its own market since 2010, is part of the BVB Group that includes the Central Depository, the institution responsible for the register and settlement operations in Romania, and, since October 2019, the central counterparty, i.e. CCP.RO, an institution that is to take up the clearing of securities transactions in Romania and to contribute to the re-launching of the market of derivative products. BVB manages two separate markets, the Regulated Market and the Multilateral Trading System, which list a variety of financial instruments such as stocks, bonds, fund units, certificates, structured products, and preferential rights. The efforts of the BVB and of their stakeholders to modernise and develop the capital market in Romania have also been acknowledged by the country's promotion to the Emerging Market status in 2020, by the global index provider FTSE Russell. Currently, 14 Romanian companies are included in the FTSE Russell indices dedicated to emerging markets. Further information can be found on www.bvb.ro.

For further information:

Marketing and Communications, Bucharest Stock Exchange, email: comunicare@bvb.ro. 

Electrica Communication, email: comunicare@electrica.ro.

Electrica Investor Relations, email: ir@electrica.ro.