NUSCALE POWER files 8-K: results of operations

Item 2.02. Results of Operations and Financial Condition.

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.

CORVALLIS, Ore. – November 5, 2026 – NuScale Power Corporation (NYSE: SMR) (“NuScale”, “NuScale Power” or the “Company”), the industry-leading provider of proprietary and innovative advanced SMR nuclear technology, today announced results for the quarter ended September 30, 2026. “This was a significant quarter for NuScale as we progressed from development to physical production of our first commercial NuScale Power Module,” said John Hopkins, NuScale President and Chief Executive Officer. “Our contract with Doosan Enerbility to fabricate the upper reactor coolant system of the NPM moves our Nuclear Regulatory Commission-approved design into actual build and sets the foundation for all modules to follow.

We also continued to deepen our global supply chain and ended the period with strong liquidity, giving us the flexibility to make the strategic investments needed to move toward full-scale production.” Liquidity & Capital Resources

• Ended the third quarter of 2026 with cash, cash equivalents, and short- and long- term investments of $1.9 billion.

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.

Conference Call

NuScale Power Corporation Condensed Consolidated Balance Sheet (Unaudited) (in thousands, except share and per share amounts) September 30, 2026 December 31, 2025 ASSETS Current Assets Cash and cash equivalents $ 513,359 $ 836,417 Short-term investments 420,032 417,800 Restricted cash 5,150 5,100 Prepaid expenses 8,641 4,877 Accounts and other receivables, net (2025 - $5,452 from related party) 15,778 8,378 Total current assets 962,960 1,272,572 Property, plant and equipment, net 3,120 1,924 In-process research and development 16,900 16,900 Intangible assets, net 394 527 Goodwill 8,255 8,255 Long-lead material work in process 69,692 63,767 Investments 930,684 32,954 Other assets 28,035 15,613 Total Assets $ 2,020,040 $ 1,412,512 LIABILITIES AND EQUITY Current Liabilities Accounts payable and accrued expenses $ 26,720 $ 286,515 Accrued compensation 11,603 8,280 Other accrued liabilities 845 648 Deferred revenue 295 613 Total current liabilities 39,463 296,056 Noncurrent liabilities 5,846 2,570 Deferred revenue 336 335 Total Liabilities 45,645 298,961 Stockholders’ Equity Class A common stock, par value $0.0001 per share, 662,000,000 shares authorized, 410,541,392 and 318,480,601 shares outstanding as of September 30, 2026 and December 31, 2025, respectively 41 32 Class B common stock, par value $0.0001 per share, 179,000,000 shares authorized, 19,332,018 and 19,413,185 shares outstanding as of September 30, 2026 and December 31, 2025, respectively 2 2 Additional paid-in capital 2,892,114 1,901,678 Accumulated deficit (868,078) (732,871) Total Stockholders’ Equity Excluding Noncontrolling Interests 2,024,079 1,168,841 Noncontrolling interests (49,684) (55,290) Total Stockholders' Equity 1,974,395 1,113,551 Total Liabilities and Stockholders' Equity $ 2,020,040 $ 1,412,512

NuScale Power Corporation Condensed Consolidated Statements of Operations (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except share and per share amounts) 2026 2025 2026 2025 Revenue (2025 - $7,873 and $22,573 from related party) $ 281 $ 8,242 $ 921 $ 29,671 Cost of sales (148) (5,533) (919) (18,179) Gross Margin 133 2,709 2 11,492 Research and development expenses 18,007 11,054 49,241 31,987 General and administrative expenses 27,918 519,222 79,632 565,009 Other expenses 19,028 10,873 57,476 31,345 Loss From Operations (64,820) (538,440) (186,347) (616,849) Sponsored cost share — 33 4 117 Investment income 19,111 5,761 43,886 16,424 Loss Before Income Taxes (45,709) (532,646) (142,457) (600,308) Foreign income taxes — — — 342 Net Loss (45,709) (532,646) (142,457) (600,650) Net loss attributable to noncontrolling interests (2,056) (259,327) (7,250) (295,685) Net Loss Attributable to Class A Common Stockholders $ (43,653) $ (273,319) $ (135,207) $ (304,965) Loss per Share of Class A Common Stock: Basic and Diluted $ (0.11) $ (1.85) $ (0.37) $ (1.37) Weighted-Average Shares of Class A Common Stock Outstanding: Basic and Diluted 410,458,377 147,685,584 365,230,553 223,201,115