NU E Power Corp. Files 2026 First Quarter Results

Calgary, Alberta--(Newsfile Corp. - June 12, 2026) - NU E Power Corp. (CSE: NUE) ("NUE" or the "Company") announces that it has filed its unaudited interim condensed consolidated financial statements and management's discussion and analysis ("MD&A") for the first quarter of 2026. The interim filings are available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.nu-energy.ca.

During the first quarter of 2026, the Company completed several important corporate initiatives, including the successful completion of a non-brokered private placement raising gross proceeds of $1.18 million and the rescission and unwind of the Blu Dot transaction, allowing management to focus on advancing its core development opportunities.

Q1 2026 Financial Highlights

• Revenue of $611,902 for the quarter, compared to $nil in the prior-year period, attributable to Blu Dot (defined below) operations prior to the March 6, 2026 unwind
• Net income of $4.43 million, compared to a net loss of $646,707 in the prior-year period
• Cash position of $469,037 as at March 31, 2026
• Working capital deficiency reduced to $1.19 million from $2.48 million as at December 31, 2025
• Completed a non-brokered private placement generating gross proceeds of approximately $1.18 million
• Continued advancement of the Alberta development portfolio, Darkhan feasibility and permitting initiatives, and evaluation of the XBASE opportunity

Q1 Results in Context

NUE's Q1 2026 revenue and cost of sales were attributable to the operations of Blu Dot Systems Inc. ("Blu Dot") during the period prior to the completion of the rescission and unwind of the Blu Dot acquisition on March 6, 2026. During the intervening period, Blu Dot generated gross profit of $97,433 from the sale of switchgear units and contributed net income of $58,767 to the Company's consolidated results.

Net income for the quarter was primarily driven by a non-cash, non-recurring accounting gain of $5.56 million associated with the deconsolidation of Blu Dot following completion of the rescission transaction.

Management believes the completion of the rescission and unwind simplifies the Company's corporate structure and enables increased focus on advancing its core energy infrastructure development strategy.

During Q1 2026, NUE completed a non-brokered private placement for gross proceeds of $1,180,492. Net proceeds were used for general working capital, project development expenses, and acquisition of development rights, as disclosed in the MD&A.

Management Commentary

"During the quarter, we continued to execute on our strategic transition toward the development of energy infrastructure opportunities intended to position the Company to serve growing industrial and compute-intensive power demand," said Broderick Gunning, Chief Executive Officer. "The successful financing completed during the quarter, combined with the improvement in our working capital position, provides an important foundation as we advance our project portfolio and evaluate additional growth opportunities."

- Broderick Gunning, Chief Executive Officer, NU E Power Corp.

Additional Information

Investors are encouraged to review the unaudited interim financial statements and MD&A for Q1 2026 in full. These documents are available under the Company's profile at www.sedarplus.ca and on the Company's website at www.nu-energy.ca.

About NU E Power Corp.

NU E Power Corp. is an energy infrastructure company focused on the origination, development, and advancement of integrated power and energy park opportunities. The Company emphasizes strategic site positioning, grid access, and disciplined stage-gated project development across selected markets serving compute-intensive and large-load industrial demand.

Contact Information

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Forward-Looking Information

Certain information set forth in this press release contains forward-looking statements that involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Words such as "may", "will", "would", "expect", "intend", "plan", "believe", "target", "subject to", "focus", "continued", "anticipated", "required", "advance", "evaluate", "position", or the negative or other variations of these words, or similar words or phrases, are intended to identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to: management priorities and capital planning; feasibility work and permitting activities; additional financing requirements; regulatory submission timelines; advancement of the development portfolio and project opportunities; evaluation of additional growth opportunities; and positioning to serve compute-intensive and large-load industrial demand. Such statements are not guarantees of future performance. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Readers are cautioned that forward-looking information is not based on historical facts but instead reflects the Company's management's expectations, estimates or projections concerning the business of the Company's future results or events based on opinions, assumptions and estimates of management considered reasonable at the date the statements are made.

The forward-looking statements are based on a number of material assumptions, including: utility confirmation of capacity and upgrade approvals; availability of additional financing on acceptable terms; successful completion of feasibility studies; ability to advance projects through stage-gated development; continued availability of grid access and suitable sites; continued demand from compute-intensive and large-load power users; and permitting, interconnection and construction proceeding as planned.

The Company is subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. Such factors include, among other things: utility approvals or infrastructure upgrades may be delayed or unavailable; additional financing may not be available on acceptable terms; feasibility studies may not support project advancement; development opportunities may not advance to commercialization; anticipated compute-intensive and large-load power demand may not materialize; evaluated growth opportunities may not be pursued or realized; and other risks customary to CSE-listed issuers. Additional risk factors are described in the Company's continuous disclosure documents available on SEDAR+ at www.sedarplus.ca. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

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