Mr. Broderick Gunning reports

NU E POWER CORP. APPOINTS HON. TONY CLEMENT TO BOARD OF DIRECTORS TO ADVANCE NUCLEAR AND SMR STRATEGY

NU E Power Corp. has appointed Tony Clement to its board of directors, effective Oct. 14, 2026.

Mr. Clement brings decades of senior public service at the federal and provincial levels, together with involvement in Canada's nuclear and small modular reactor (SMR) sector. His appointment aligns directly with NU E's expanding focus on Saskatchewan and the Prairie provinces, where the company is advancing new power generation opportunities, and where nuclear, including SMRs, has become a prominent part of the conversation on new generation.

Background

Mr. Clement served as a member of Parliament from 2006 to 2019 and held several senior federal cabinet portfolios, including minister of health, minister of industry and president of the Treasury board. Prior to federal office, he served as a cabinet minister in the government of Ontario. He currently chairs the advisory board of the SMR forum, which convenes industry, government and investment leaders on the deployment of small modular reactors in Canada and internationally.

Rationale and market context

Global power demand is accelerating, driven by electrification, industrial growth and artificial-intelligence-driven compute. Nuclear and SMR technology is emerging as a critical source of reliable, low-carbon baseload power, and jurisdictions across Canada and abroad are moving to establish frameworks for deployment. Mr. Clement's experience in public policy, intergovernmental relations and nuclear sector development will support NU E as it builds partnerships with governments, technology providers and capital partners in Canada and internationally.

NU E established its position in the Saskatchewan market earlier this year through a development property under agreement in the Regina region, announced on Aug. 7, 2026.

On Sept. 29, 2026, the government of Saskatchewan released Delivering Energy Security Through Nuclear Power, setting out a phased transition from coal-fired generation to nuclear, a goal of at least 2,600 megawatts of nuclear generation by 2050, and further study of small modular reactors near Estevan. The plan strengthens the case for NU E's work in the province and reflects growing global interest in nuclear and SMR technologies.

Saskatchewan's move from coal to nuclear closely mirrors NU E's approach in Asia. The company's Darkhan Energy Park in Mongolia is currently proposed as 600 MW of high-efficiency, low-emissions (HELE) coal-fired generation and 100 MW of battery storage, and nuclear, including SMR technology, is central to how NU E views the project's long-term path.

"We brought Tony onto the board for two reasons: his depth of experience in government and public policy, and his leadership in nuclear and SMR development," said Broderick Gunning, chief executive officer of NU E. "As NU E deepens its presence in Saskatchewan and across the Prairies, nuclear and SMR technology is increasingly part of the conversation on how new power gets built, alongside hybrid generation that combines solar, battery storage and natural gas. Tony's guidance will be a significant asset to the company, both in Canada and abroad."

About NU E Power Corp.

NU E Power 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.

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