Framatome and NuScale Power Corporation (NYSE: SMR) have expanded their longstanding partnership to include Framatome’s European facilities for fuel fabrication in Europe, while also notifying the Richland facility to fabricate fuel for NuScale Power’s U.S. Nuclear Regulatory Commission (NRC)-approved SMR fuel technology in the next five years. This expansion leverages Framatome’s global presence to support NuScale in meeting global U.S. and European demands and builds upon their exclusive fuel manufacturing contract signed in 2015.

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Framatome’s European facilities will be leveraged for the future fabrication of fuel assemblies for NuScale’s European SMR customers. The NuScale Power Module™ (NPM) is a Generation III+ reactor and uses a fuel design that is based on existing Framatome pressurized water reactor (PWR) fuel technology with decades of proven, reliable, and safe operation.

Following its earlier selection to fabricate fuel assemblies for NuScale’s U.S. SMR customers in 2015, Framatome has now been issued notice to qualify the Richland, Washington facility for manufacturing and delivery of the NuFUEL-HTP2 fuel design. In addition to supporting manufacturing readiness, the notice includes direction to produce at least 444 fuel assemblies for NuScale’s first U.S. customer as early as 2030, reflecting growing momentum for the nuclear energy industry and rising demand for baseload electricity.

“By leveraging our proven expertise and advanced American and European manufacturing facilities, we are ensuring reliable, high-quality fuel delivery for NuScale’s customers worldwide,” said Lionel Gaiffe, Senior Executive Vice President, Fuel Business Unit at Framatome. “This milestone reflects our shared vision for a sustainable energy future and reinforces Framatome’s role as a trusted partner in advancing next-generation nuclear solutions.”

“NuScale is proud to continue our decade-long relationship with our partners at Framatome to supply fuel for our global customers,” said Carl Fisher, Chief Operating Officer at NuScale Power. “This newest agreement will allow us to continue to meet our critical supply chain and manufacturing milestones to fulfill project timelines and prepare to deploy our groundbreaking technology.”

NuFUEL-HTP2 utilizes Framatome’s proven HTP fuel and spacer grid technology. This fuel design combines low pressure drop with robust mechanical strength and seismic resilience to assure reliable fuel performance in this new reactor type. Over 20,000 HTP fuel assemblies have been delivered to a wide range of PWRs in 11 countries.

Framatome’s North America and European facilities have respectively more than 55 and 50 years of manufacturing and fuel expertise. The state-of-the-art facilities are positioned respectively in North America and Europe to deliver the next generation of light water reactor fuel as well as fuel for the next generation of reactors.

Richland facility was awarded the industry’s first 40-year nuclear fuel fabrication license renewal from the NRC in 2009 and plans to modify its license to deliver fuel above 5% of U235 as part of its Advanced Fuel Management program.

About NuScale Power

Founded in 2007, NuScale Power Corporation (NYSE: SMR) is the industry-leading provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology, with a mission to help power the global energy transition by delivering safe, scalable, and reliable carbon-free energy. The Company’s groundbreaking SMR technology is powered by the NuScale Power Module™, a small, safe, pressurized water reactor that can each generate 77 megawatts of electricity (MWe) or 250 megawatts thermal (gross), and can be scaled to meet customer needs through an array of flexible configurations up to 924 MWe (12 modules) of output.

As the first and only SMR to have its designs certified by the U.S. Nuclear Regulatory Commission, NuScale is well-positioned to serve diverse customers across the world by supplying nuclear energy for electrical generation, data centers, district heating, desalination, commercial-scale hydrogen production, and other process heat applications.

To learn more, visit NuScale Power’s website or follow us on LinkedIn, Facebook, Instagram, X and YouTube.

About Framatome

Framatome is an international leader in nuclear energy recognized for its innovative, digital and value-added solutions for the global nuclear fleet. With worldwide expertise and a proven track record for reliability and performance, the company designs, services and installs components, fuel, and instrumentation and control systems for nuclear power plants. Its more than 22,000 employees work every day to help Framatome’s customers supply ever cleaner, safer and more economical low-carbon energy.

Visit us at: www.framatome.com and follow us on LinkedIn.

Framatome is owned by the EDF Group (80.5%) and Mitsubishi Heavy Industries (MHI – 19.5%).

Forward Looking Statements

This release contains forward-looking statements (including without limitation statements containing terms such as "will," "believes," "expects," “anticipates,” "plans" or other similar expressions). These forward-looking statements include statements relating to strategic and operational plans, expectations regarding NuScale’s E2 Centers, including its impact on the future of energy, nuclear science and engineering education, the role of nuclear energy in the future of power generation, NuScale’s positioning to serve customers, capital deployment, future growth, new awards, backlog, earnings and the outlook for the Company’s business.

Actual results may differ materially as a result of a number of factors, including, among other things, the Company’s liquidity and ability to raise capital; the Company's failure to receive new contract awards; cost overruns, project delays or other problems arising from project execution activities, including the failure to meet cost and schedule estimates; our expectations regarding obtaining regulatory approvals, and the timing thereof, to deploy our SMRs in the United States and abroad; forecasts regarding end-customer adoption rates and demand for our products in markets that are new and rapidly evolving; limitations on the effectiveness of our controls and procedures and our remediation plans related thereto; intense competition in the industries in which we operate; failure of our partners to perform their obligations; cyber-security breaches; foreign economic and political uncertainties; client cancellations of, or scope adjustments to, existing contracts; failure to maintain safe worksites and international security risks; risks or uncertainties associated with events outside of our control, including weather conditions, pandemics (including COVID-19), public health crises, political crises or other catastrophic events; macroeconomic conditions; the use of estimates and assumptions in preparing our financial statements; client delays or defaults in making payments; the failure of our suppliers, subcontractors and other third parties to adequately perform services under our contracts; uncertainties, restrictions and regulations impacting our government contracts; the inability to hire and retain qualified personnel; the potential impact of certain tax matters; possible information technology interruptions; the Company's ability to secure appropriate insurance; liabilities associated with the performance of nuclear services; foreign currency risks; the loss of one or a few clients that account for a significant portion of the Company's revenues; damage to our reputation; failure to adequately protect intellectual property rights; asset impairments; climate change and related environmental issues; increasing scrutiny with respect to sustainability practices; the availability of credit and restrictions imposed by credit facilities for our clients, suppliers, subcontractors or other partners; failure to obtain favorable results in existing or future litigation and regulatory proceedings, dispute resolution proceedings or claims, including claims for additional costs; failure by us or our employees, agents or partners to comply with laws; new or changing legal requirements, including those relating to environmental, health and safety matters; failure to successfully implement our strategic and operational initiatives and restrictions on possible transactions imposed by our charter documents and Delaware law. Caution must be exercised in relying on these and other forward-looking statements. Due to known and unknown risks, the Company’s results may differ materially from its expectations and projections.

Additional information concerning these and other factors can be found in the Company's public periodic filings with the Securities and Exchange Commission (the “SEC”), including the general economic conditions and other risks, uncertainties and factors set forth in the section entitled “Cautionary Note Regarding Forward-Looking Statements” and “Summary of Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 and in subsequent filings with the SEC. The referenced SEC filings are available either publicly or upon request from NuScale's Investor Relations Department at ir@nuscalepower.com. The Company disclaims any intent or obligation other than as required by law to update the forward-looking statements.

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