Mr. Broderick Gunning reports

NUE POWER CORP. TO ADD FORMER MAX POWER CEO RANJITH NARAYANASAMY TO BOARD, OPENS REGINA OFFICE

Ranjith (Ran) Narayanasamy, PEng, former chief executive officer of Max Power Mining Corp. (Canadian Securities Exchange: MAXX), is expected to be appointed to NU E Power Corp.'s board of directors following its Nov. 19, 2026, annual general meeting, subject to applicable approval and regulatory requirements. Mr. Narayanasamy has already played an influential role in establishing NU E's presence in Regina, Sask., including assisting with its acceptance at Innovation Saskatchewan's Collider, and is expected to support the company's development strategy through strategic relationships, industry experience and board oversight.

Max Power record during Narayanasamy's tenure

Mr. Narayanasamy served as Max Power's chief executive officer from Dec. 1, 2025, to Oct. 13, 2026. During his tenure:

• More than $70-million in gross proceeds were received through completed private placements and disclosed warrant exercises;
• Equity market capitalization increased from approximately $76-million on Nov. 28, 2025, the last trading day before his appointment, to more than $550-million on Oct. 13, 2026, an increase of more than 620 per cent, based on closing share prices and shares outstanding on those dates.
• The closing share price increased from 80 cents on Nov. 28, 2025, to $2.85 on Oct. 13, 2026, an increase of approximately 256 per cent.

More than two decades of energy-sector experience

Before Max Power, Mr. Narayanasamy was president and chief executive officer of the Petroleum Technology Research Centre in Regina, where he led research programs involving carbon capture, utilization and storage, geothermal energy, hydrogen, and compressed-air energy storage.

Previously, he spent 17 years at SaskPower, with senior roles across transmission and distribution, project management, hydroelectric development and supply chain.

He holds a master of engineering and an MBA from the University of Regina and is a registered professional engineer in Saskatchewan. In 2026, he was named a finalist for the Emerging Hydrogen Leader Award at the Canadian Hydrogen Convention.

"Advancing energy infrastructure requires an understanding of grid integration, regulatory frameworks, capital requirements and project execution," said Mr. Narayanasamy. "I have been pleased to assist NUE in establishing its Saskatchewan presence. I look forward to supporting the company's next phase through strong governance, disciplined capital deployment, strategic relationships and meaningful indigenous partnership."

"Ran has already made a meaningful contribution to NU E by helping us establish our presence in Saskatchewan," said Broderick Gunning, chief executive officer of NU E. "His experience at SaskPower, the Petroleum Technology Research Centre and Max Power brings valuable perspective on how to advance energy opportunities, from technical evaluation and industry relationships to financing and commercial execution. We look forward to applying that experience as we move NU E's developments forward."

Strengthening leadership to advance NU E's development strategy

Mr. Narayanasamy brings experience spanning public utilities, energy research and public-company leadership. His expected appointment comes as NU E establishes a Saskatchewan base to support research and development, build industry relationships, and evaluate opportunities alongside its Southern Alberta development activities.

Regina Office Establishes NU E's Saskatchewan base

NU E has been accepted as a tenant at Collider, Innovation Saskatchewan's tech-sector workspace in Regina's Research and Technology Park, following a review of the company's planned research and development activities in Regina. A list of current tenants is available on Innovation Saskatchewan's website.

The office will serve as NU E's Saskatchewan base, supporting its buildout of energy-related projects in the region in addition to its research and development work in both natural gas, nuclear (micro/small modular reactors), and hybrid energy programs (renewable/gas). Mr. Narayanasamy assisted the company's entry into the province, including its acceptance at Collider.

NU E intends to build relationships and evaluate opportunities across natural gas, renewables and emerging energy technologies.

"Our Regina office gives us a local base to develop our future projects in Saskatchewan and Manitoba," added Mr. Gunning. "Ran's involvement has helped us take that step. Our priority is to build on this foundation through disciplined development work, meaningful partnerships and measurable commercial progress."

The company expects to provide further updates as material developments occur.

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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