Calgary, Alberta and Vancouver, British Columbia--(Newsfile Corp. - September 1, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) ("NUE" or the "Company") is pleased to announce the appointment of Peter Espig to its Board of Directors, effective September 1, 2026, subject to acceptance by the Canadian Securities Exchange.

Peter Espig

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Mr. Espig has served as President, Chief Executive Officer and a director of Nicola Mining Inc. since November 2013. He was previously a Vice President at Goldman Sachs Japan and at Olympus Capital in New York.

The appointment is the second addition to NUE's leadership in recent weeks, following the appointment of John Windsor as Chief Operating Officer. Mr. Espig brings public company leadership and structured and cross-border transaction experience as the Company advances its projects toward financing and monetization.

Background

Mr. Espig joined Nicola Mining Inc. in November 2013 and led the company through a restructuring under the Companies' Creditors Arrangement Act, which it exited in November 2014. Nicola trades on the TSX Venture Exchange and completed a Nasdaq listing in April 2026.

Before Nicola, Mr. Espig was a Vice President at Goldman Sachs Japan in the Principal Finance and Securitization Group and in the Asia Special Situations Group, and Vice President at Olympus Capital, a New York based private equity firm, where he worked on corporate restructurings and international financings. He has structured more than CAD$2.0 billion in private equity and pre-initial public offering transactions and has completed more than CAD$1.0 billion in special purpose acquisition company transactions.

"Peter has taken a public company through a restructuring and out the other side," said Broderick Gunning, President and Chief Executive Officer of NUE. "As our projects continue to move toward financing and monetization, the questions in front of this company are capital markets questions: how a transaction is structured, how it is funded, and what an institutional counterparty needs to see before it commits. Peter has a proven track record of successful execution on the other side of the table."

Mr. Espig holds a Bachelor of Arts from the University of British Columbia and a Master of Business Administration from Columbia Business School, where he was a Chazen International Scholar.

"What particularly interests me about NUE is the opportunity to participate at an early stage of asset development within a clearly articulated strategic framework," said Mr. Espig. "In power development, substantial value can be created well in advance of construction, with successful execution requiring disciplined capital allocation and a rigorous assessment of which assets to retain, which to monetize, and at what point in their development cycle. Much of my career has been focused on complex structured and cross-border transactions, and I look forward to applying that experience to NUE's international strategy, capital formation, and long-term value creation."

About NUE Power Corp.

NUE Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) is an energy infrastructure development company focused on the origination, development, and advancement of integrated power and energy-park opportunities. Operating a develop-to-divest model, the Company emphasizes strategic site positioning, grid access, and disciplined stage-gated development across markets serving compute-intensive and large-load industrial demand.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy of this release.

Forward-Looking Information
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable Canadian securities legislation. Such forward-looking information is provided to inform the Company's shareholders and potential investors about management's current expectations and plans relating to the future.

In particular, this news release contains forward-looking information including statements regarding: the effectiveness of the appointment and its acceptance by the Canadian Securities Exchange; Mr. Espig's anticipated contribution to the Company; the advancement of the Company's projects toward financing and monetization; and the Company's development and capital allocation strategy.

Such forward-looking information is based on a number of material assumptions, including: that the appointment takes effect and is accepted by the Canadian Securities Exchange; that the Company retains the personnel and directors required to execute its plans; that the Company's projects advance on the terms and timelines currently contemplated; that required regulatory, stock exchange and third party approvals are obtained; and that the Company has access to sufficient capital to fund its planned activities.

Risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking information include, among others: the appointment may not become effective, may not be accepted by the exchange, or may not continue as described; the Company may not realize the anticipated benefits of the appointment; the Company's projects may be delayed, reduced in scope or may not advance; required approvals may be delayed or may not be obtained; financing may not be available on acceptable terms or at all; and other risks customary to early-stage development companies. As disclosed in its audited consolidated financial statements for the year ended December 31, 2025, the Company does not have sufficient capital resources to meet its anticipated operating requirements for the next twelve months, and additional financing will be required.

Information in this news release concerning Nicola Mining Inc. and other entities with which Mr. Espig is or has been associated is derived from the public disclosure of those entities and is provided solely as biographical background. It is not an indication of the past or future performance of the Company, and no inference should be drawn from it.

Although the Company believes the expectations reflected in the forward-looking information are reasonable, undue reliance should not be placed on it, as the Company can give no assurance that such expectations will prove to be correct. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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