Nexans – Recent Rumors regarding Great Sea Interconnector project

Core Viewpoint - Nexans is actively executing the Great Sea Interconnector project as per contractual obligations and defined milestones, despite recent rumors in Cypriot media [1][2] Group 1: Project Execution - Nexans confirms that it continues to fulfill its contractual obligations for the Great Sea Interconnector project [1] - The company has received substantial payments since the project's commencement, which have facilitated the manufacturing of the interconnector cable [2] - Nexans has eliminated any financial exposure related to potential project adjustments due to these payments [2] Group 2: Company Overview - Nexans is a global leader in sustainable electrification, focusing on systems that support the transition to a low-carbon future [3] - The company has over 140 years of history and operates through three core businesses: PWR Transmission, PWR Grid, and PWR Connect [4] - Nexans is committed to achieving Net-Zero emissions by 2050 and expanding energy access through its foundation [5] - In 2024, Nexans generated €7.1 billion in standard sales and operates in 41 countries with a workforce of 28,500 [5]