Mr. Broderick Gunning reports

NU E POWER CORP. FILES 2026 FIRST QUARTER RESULTS

NU E Power Corp. has filed its unaudited interim condensed consolidated financial statements and management discussion and analysis (MD&A) for the first quarter of 2026. The interim filings are available under the company's profile on SEDAR+ and on the company's website.

During the first quarter of 2026, the company completed several important corporate initiatives, including the successful completion of a non-brokered private placement raising gross proceeds of $1.18-million and the rescission and unwind of the Blu Dot transaction, allowing management to focus on advancing its core development opportunities.

Q1 2026 financial highlights:

• Revenue of $611,902 for the quarter, compared with nil in the prior-year period, attributable to Blu Dot Systems Inc. operations prior to the March 6, 2026, unwind;
• Net income of $4.43-million, compared with a net loss of $646,707 in the prior-year period;
• Cash position of $469,037 as at March 31, 2026;
• Working capital deficiency reduced to $1.19-million from $2.48-million as at Dec. 31, 2025;
• Completed a non-brokered private placement generating gross proceeds of approximately $1.18-million;
• Continued advancement of the Alberta development portfolio, Darkhan feasibility and permitting initiatives, and evaluation of the XBase opportunity.

Q1 results in context

NU E's Q1 2026 revenue and cost of sales were attributable to the operations of Blu Dot during the period prior to the completion of the rescission and unwind of the Blu Dot acquisition on March 6, 2026. During the intervening period, Blu Dot generated gross profit of $97,433 from the sale of switchgear units and contributed net income of $58,767 to the company's consolidated results.

Net income for the quarter was primarily driven by a non-cash, non-recurring accounting gain of $5.56-million associated with the deconsolidation of Blu Dot following completion of the rescission transaction.

Management believes the completion of the rescission and unwind simplifies the company's corporate structure and enables increased focus on advancing its core energy infrastructure development strategy.

During Q1 2026, NU E completed a non-brokered private placement for gross proceeds of $1,180,492. Net proceeds were used for general working capital, project development expenses and acquisition of development rights, as disclosed in the MD&A.

Management commentary

"During the quarter, we continued to execute on our strategic transition toward the development of energy infrastructure opportunities intended to position the company to serve growing industrial and compute-intensive power demand," said Broderick Gunning, chief executive officer. "The successful financing completed during the quarter, combined with the improvement in our working capital position, provides an important foundation as we advance our project portfolio and evaluate additional growth opportunities."

Additional information

Investors are encouraged to review the unaudited interim financial statements and MD&A for Q1 2026 in full. These documents are available under the company's profile on SEDAR+ and on the company's website.

About NU E Power Corp.

NU E Power is an energy infrastructure company focused on the origination, development and advancement of integrated power and energy park opportunities. The company emphasizes strategic site positioning, grid access and disciplined stage-gated project development across selected markets serving compute-intensive and large-load industrial demand.

We seek Safe Harbor.