Mr. Michael Mork, a shareholder, reports

EARLY WARNING REPORT ISSUED PURSUANT TO NATIONAL INSTRUMENT 62-103 IN CONNECTION WITH THE CONVERSION OF CONVERTIBLE DEBENTURES OF NXT ENERGY SOLUTIONS INC.

MCAPM LP and Michael P. Mork have filed an early warning report under National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues) in connection with the exercise of their respective rights to convert: (1) an aggregate of $1-million (U.S.) principal amount of convertible debentures dated Nov. 8, 2023; (2) an aggregate of $375,000 (U.S.) principal amount of debentures dated Jan. 11, 2024; and (3) an aggregate of $2-million (U.S.) principal amount of convertible debentures dated May 31, 2024, into common shares of NXT.

In connection with the conversion, NXT issued an aggregate of 15,605,088 common shares to Mork Capital, effective as of June 26, 2025. Immediately prior to the conversion, Mork Capital owned, or exercised control or direction over, 14,921,233 common shares (or approximately 16.0 per cent of the issued outstanding common shares on a non-diluted basis) and an aggregate of $3,375,000 (U.S.) principal amount of convertible debentures. After giving effect to the conversion, Mork Capital owns, or exercises control or direction over, 30,526,321 common shares, representing approximately 28.0 per cent of the issued and outstanding common shares of NXT.

A copy of the early warning report will be available under NXT's profile at SEDAR+ or may be obtained by contacting Mork Capital at 707-431-1057.

Mork Capital is acquiring the common shares for investment purposes. Mork Capital may, from time to time, acquire additional common shares or other securities of NXT or dispose of some or all of the common shares or other securities of NXT that it owns at such time. Other than as set forth above, Mork Capital currently has no other plans or intentions that relate to or would result in any of the actions listed above, but, depending on market conditions, general economic and industry conditions, trading prices of NXT's securities, NXT's business, financial condition and prospects, and/or other relevant factors, Mork Capital may develop such plans or intentions in the future.

We seek Safe Harbor.