SMR·NuScale Power Corporation

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   able to achieve or maintain profitability; the cost of electricity generated from nuclear sources or our NPMs may not be cost competitive; the market for SMRs is not yet established and may not achieve growth as expected; our dependence on our relationships with ENTRA1, Fluor and other strategic investors and partners; risks related to the Partnership Milestones Agreement entered into by NuScale Power, LLC and ENTRA1 on August 27, 2025; our supply base is constrained; our ability to manage our growth effectively; our need for additional funding in the future; manufacturing and construction issues; loss of government funding; the politically sensitive environment we are operating in and the public perception of nuclear energy; our dependence on senior management and other highly skilled personnel; our ability to obtain design approvals internationally; our customers’ ability to obtain required regulatory approvals on a timely basis or at all; compliance with environmental laws and evolving government laws and regulations; the impact of changing trade policies and new or increased tariffs; risks related to cybersecurity; changes in tax laws; our ability to protect our intellectual property; our limited number of authorized shares available for issuance; the price of our Class A common stock may be volatile; additional sales of our common stock or exercise of our options could result in dilution to our stockholders; we have and may in the future be subject to short selling strategies; NuScale Power, LLC being treated as a corporation for U.S. federal income tax or state tax purposes; and requirements under the Tax Receivable Agreement.

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   NuScale Power Reports Third Quarter 2026 Results Third Quarter 2026 Highlights • NuScale progressed from development to physical production, signing an agreement with Doosan Enerbility for the fabrication of the most complex and foundational component of the NuScale Power Module™ (“NPM”), the upper reactor coolant system. • NuScale advanced its supply chain maturity through two additional milestones: deploying nuclear-specific artificial intelligence tools, developed with Nuclearn and NPX, across engineering and knowledge- management functions, and, together with MillenniTEK, fabricating first-of- a-kind reactor safety components for the NPMs. • NuScale continues to support its commercial partner, ENTRA1 Energy (“ENTRA1”), in their dialogue with the Tennessee Valley Authority (“TVA”) on the development of the largest commercial nuclear power deployment program in U.S. history. • NuScale maintained a strong liquidity position with $1.9 billion in cash, cash equivalents and short- and long-term investments to support immediate commercial readiness.

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   Financial Update • Revenue and cost of sales decreased by $8.0 million and $5.4 million, respectively, during the three months ended September 30, 2026, as compared to the same period in the prior year, primarily due to the revenue recognized in the prior year quarter from the work associated with Fluor’s Front-End Engineering and Design (“FEED”) Phase 2 engineering services in support of the RoPower project, which was completed in late 2025, with no comparable activity in 2026. • Research and development (“R&D”) expenses increased $7.0 million during the three months ended September 30, 2026, as compared to the three months ended September 30, 2025, primarily as a result of $6.7 million higher costs associated with the Company’s increased activities to advance the technological readiness and design maturity of our NPM components. • General and administrative (“G&A”) expenses decreased by $491.3 million during the three months ended September 30, 2026, as compared to the three months ended September 30, 2025. • Other expenses increased by $8.1 million during the three months ended September 30, 2026, as compared to the three months ended September 30, 2025, primarily due to (a) the Company’s engineers and project personnel working on fewer commercial projects than in the prior year, resulting in the lower allocation to Cost of sales described above and (b) higher other compensation costs incurred as we have ramped up the resources supporting supply chain readiness and the delivery of future commercial projects. • Investment income increased by $13.4 million during the three months ended September 30, 2026, as compared to the three months ended September 30, 2025, primarily as a result of the Company’s stronger cash position, higher interest rates and greater investments in cash equivalents, short-term investments and long-term investments.