Mr. John Newman reports

NU E POWER CORP. CLOSES STRATEGIC ACQUISITION OF BLU DOT SYSTEMS INC.

NU E Power Corp. has completed the acquisition of 100 per cent of the issued and outstanding common shares of Blu Dot Systems Inc.

Pursuant to acquisition, the company acquired all of the issued and outstanding common shares of Blu Dot in consideration for the issuance of one common share of NU E for each common share of Blu Dot held by each Blu Dot shareholder.

NU E issued an aggregate 29.5 million NU E shares in connection with the acquisition. The acquisition is subject to final approval from the Canadian Securities Exchange. The issuance of NU E shares in connection with the acquisition are subject to a four-month resale restriction in accordance with applicable securities laws and the policies of the CSE. There was no finder's fee payable on closing of the acquisition.

For more information on the acquisition, please see the news releases dated April 15, 2025, and June 14, 2025, available on the company's SEDAR+ profile.

Governance and shareholder protections

The acquisition was a related party transaction under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, as a director and officer of NU E is also a director, officer and/or shareholder of Blu Dot. The director and officer owned, directly or indirectly, 3,869,140 Blu Dot shares and received an aggregate of 3,869,140 NU E shares pursuant to the acquisition.

MI 61-101 requires that an issuer obtain approval of a majority of the disinterested shareholders, as well as a formal valuation for a transaction that constitutes a related party transaction, absent an exemption from such requirements. The issuance of NU E shares to a related party will be considered a related party transaction within the meaning of MI 61-101, but such transaction is exempt from the valuation requirement of MI 61-101, as the NU E shares are not listed on a specified market, and from the minority shareholder approval requirements of MI 61-101, in that the fair market value of the consideration of the NU E shares issued to the related party did not exceed 25 per cent of NU E's market capitalization.

About NU E Power Corp.

NU E Power is a green energy company focused on the developing, construction and operating clean and renewable energy infrastructure across North America. The company has a partnership with Low Carbon Canada Ltd., a subsidiary of the United Kingdom-based renewables major, Low Carbon Investment Management Ltd., to facilitate non-dilutive investment into the company with the goal of developing up to two gigawatts of renewable energy projects in Canada by 2030.

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