1、Sector Research ReportPowerPlay#13Advanced Nuclear,a Deep DiveAdvanced Nuclear,a Deep Dive4 AUGUST 2025Research Analysts&Publishing EntitiesMoses SuttonBNP Paribas Securities Corp1(+1)646 342 2181Heidi HauchBNP Paribas Securities Corp1(+1)646 342 9635Joseph NussbaumBNP Paribas Securities Corp1(+1)64

2、6 342 4988Production time:11:00(London time)See Appendix Disclosure for Analyst Certification,Important Disclosures,Non-USResearch Analyst disclosures and BNP Paribas Group Corporate Social Responsibility(“CSR”)policies.BNP Paribas has adopted strict CSR policies that govern financing and investment

3、 incertainsectors.For timeof dissemination,please refer to the Cube.(1)FINRA member firm and broker-dealer registered with the U.S.Securities ExchangeCommissionjk2582columbia.edu Juliet Kekimuli 08/14/25 03:56:34 AM Columbia University in the City of New YorkBNP Paribas Exane|PowerPlay#132POWERPLAY#

4、12:Modeling PJM-Capacity,Energy,and Reform June 26,2025 POWERPLAY#11:Datacenter PPAs-Deal or No Deal?June 18,2025 POWERPLAY#10:Budget Bill Solar Coaster-What Now?May 29,2025 POWERPLAY#9:Gas Turbine Pricing:How High?And Still Rising?May 12,2025 POWERPLAY#8:PV Tracker Market Share,Tariffs,and Risks(NX

5、T,ARRY)May 5,2025POWERPLAY#7:First Solar&AD/CVD-Can 30c Panel Prices Sustain?April 29,2025POWERPLAY#6:Solar&IRA:Worst of Times or Best of Times?April 3,2025 POWERPLAY#5:Power Trade:Too Hyper or Still Scaling?February 24,2025 POWERPLAY#4:A Deep GE Vernova(GEV)Bull/Bear Analysis November 26,2024POWERP

6、LAY#3:ERCOT Price Modelling&IPP Implications(VST Focus)Oct 16,2024 POWERPLAY#2:Problems Under the Sun-IRA Repeal,Trade,Demand,Etc.July 26,2024 POWERPLAY#1:Solar&Load Growth-Is FSLR an AI Stock?June 18,2024Previous PowerPlay PresentationsRefinitivjk2582columbia.edu Juliet Kekimuli 08/14/25 03:56:34 A