Mr. Broderick Gunning reports

NU E POWER CORP. PROVIDES THIRD UPDATE ON MANAGEMENT CEASE TRADE ORDER

NU E Power Corp., further to its news releases of April 27, 2026, May 11, 2026, and May 25, 2026, continues to be under a management cease trade order (MCTO), granted by the company's principal regulator, the Alberta Securities Commission, on May 1, 2026, under National Policy 12-203, Management Cease Trade Orders.

The MCTO was issued in connection with the company's failure to file its audited annual consolidated financial statements and related management's discussion and analysis (MD&A) for the year ended Dec. 31, 2025, by the required filing deadline of April 30, 2026. As noted below, the company filed the annual filings on June 2, 2026, curing the defined default under the MCTO. The MCTO remains in effect pending revocation by the commission. The company anticipates that the MCTO will be revoked following the filing of the Q1 (first quarter) interim report (defined below). The MCTO does not affect the ability of shareholders to trade their securities.

The company's board of directors and management confirm that on June 2, 2026, the company filed its audited consolidated financial statements and MD&A for the year ended Dec. 31, 2025, and that such annual filings were announced in its news release on June 3, 2026.

Separately, the company's quarterly interim financial report and related MD&A for Q1 2026 was due on June 1, 2026. Preparation of the Q1 interim report is progressing and nearing completion. The company is working diligently to complete and file the Q1 interim report and anticipates doing so on or before June 12, 2026. There are no continuing investigations into the events that contributed to the filing delays. The company confirms that there are no insolvency proceedings against it as of the date of this news release. The company also confirms that since its news releases dated May 25, 2026, and June 3, 2026, there is no other material information respecting the company's affairs that has not been generally disclosed.

Until the Q1 interim report has been filed and the MCTO has been revoked, the company intends to continue to satisfy the provisions of the alternative information guidelines specified in NP 12-203 by issuing biweekly status reports in the form of further news releases.

We seek Safe Harbor.