Calgary, Alberta--(Newsfile Corp. - January 22, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) ("NU E" or the "Company") today announced that it has entered into a Letter of Intent (LOI) with Green Harbor Partners Corp. ("Green Harbor") relating to the proposed acquisition and strategic development of the Lethbridge Two, Lethbridge Three, and Hanna Solar projects in Alberta, representing a combined 503.5 MWac of utility-scale solar generation with integrated battery energy storage systems (BESS).

• Green Harbor Partners Corp. (Formerly known as Sprott Korea) is a Korean private equity investment firm;
• Green Harbor is a Korea-based renewable energy and infrastructure private equity firm managing and advising over 2.5 GW of global solar and wind assets; and
• NUE will retain the option to maintain a royalty interest in the project

The LOI contemplates the acquisition of all equity interests in the Lethbridge Two, Lethbridge Three, and Hanna Solar projects, subject to customary development milestones, financing conditions, and regulatory approvals. Importantly, the structure is designed to allow NUE to retain a meaningful ongoing economic interest, including the potential for a long-term royalty or carry, aligning NUE with asset performance while enabling capital recycling.

NUE's total invested capital to date in these projects totals approximately US$2.6M, or US$5,150 per MW. Under the terms of the LOI, NUE expects to realize US$50,000 - US$150,000 per MW under currently met LOI conditions. Maximum potential compensation under the terms at shovel-ready is US$395,000 - US$700,000 per MW.

A Defining Milestone in NUE's Evolution as a Power Developer

This transaction represents a defining milestone for NUE as it formally transitions into a power developer with its first planned project sale to an end buyer, while maintaining strategic exposure to long-duration value creation. To date, NUE has invested approximately CAD$3.6 million of its own capital into the advancement of these Alberta projects, underscoring its role as a capital-at-risk developer, not a passive aggregator.

With Alberta interconnection processes advancing and permitting, environmental, and feasibility programs underway, the portfolio is positioned to meet the requirements of institutional buyers seeking late-stage, de-risked renewable and hybrid power assets.

Strategic Alignment with Institutional-Grade Global Partners

Green Harbor Partners Corp., a Korea-based private equity and asset management firm specializing in renewable energy and infrastructure, brings significant institutional credibility and global execution experience to the transaction. Founded in 2012 (formerly Sprott Korea), Green Harbor manages and advises on more than 2.5 GW of power generation assets globally, with completed investments spanning solar and onshore wind portfolios in the United States, Mexico, Chile, Sweden, and other OECD markets.

The LOI also establishes the foundation for a long-term strategic partnership between NUE and Green Harbor focused on the development, financing, and operation of large-scale renewable and hybrid power assets, beginning in Alberta and extending internationally.

In parallel, NUE has entered into a strategic collaboration with Green Harbor. This partnership is intended to support the delivery, financing coordination, and long-term institutional alignment of solar and energy storage projects across NUE's broader global pipeline, including Latin America, Asia, Europe, and Africa.

Transaction Critical Path & Milestones

• The LOI is structured across multiple phases, with the first phase having been met with AESO interconnection approval, unlocking the US$50,000 - US$150,000 per MW. Tier 2 will be met upon securing 70% PPA coverage for the project, at which point NUE's consideration would increase to US$158,000 - US$395,000 per MW. At shovel-ready NUE's consideration would again increase to US$395,000 - US$700,000.

• NUE may liquidate the asset at any stage described above for the listed consideration.

• Upon signing of the final purchase agreement, NUE will receive the first 10% of achieved consideration. Full fulfillment of all conditions for closing will release another 50% of proceeds. Another 30% is released until notice to proceed and the final 10% will be released upon commercial operation.

Jay Lee, CEO Green Harbor Partners Corp.

"Green Harbor is pleased to announce the formation of a highly strategic partnership with NUE. This marks an important initial step in our evaluation and participation in the Alberta energy market, with a broader view toward opportunities across Canada. We believe NUE's disciplined approach to energy development, infrastructure, and market execution aligns well with our long-term objectives. As this relationship evolves, we also see compelling potential to collaborate with NUE on select international opportunities, including Latin America, Southeast Asia, the Middle East, and North Africa."

Broderick Gunning, CEO NU E Power Corp.

"This LOI represents a pivotal moment for NUE. We have invested significant capital to advance these projects to institutional standards, and this marks the first planned monetization of a NUE-developed asset. Our approach is not simply to sell projects, but to structure transactions that preserve long-term participation through royalties or carried interests where appropriate. Green Harbor's interest validates both the quality of the assets and our strategy of building a scalable, globally relevant power development platform."

This LOI marks the first step in NUE's asset-level monetization strategy, with the objective of recycling capital, retaining long-term economic participation, and scaling a repeatable power development platform aligned with institutional investors and global infrastructure partners.

Click on the following link to view a photo of the signing Ceremony with Green Harbor Partners.

About NU E Power Corp.

NU E is a multi-stage power developer that converts land and grid access into institutional-grade energy assets. NU E develops next-generation power sites for the digital and global power economies. Combining renewables, grid, gas, nuclear and battery storage - NU E delivers scalable, reliable, and optimized energy sites across the world.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor ‎disapproved of the contents of this press release.‎

Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. In particular and without limitation, this news release contains forward-looking statements pertaining to the Company's expectations regarding its industry trends and overall market growth; the Company's growth strategies; the Company's expectations under this LOI, including pricing of the sale of the developments; to the Company's future business plans, strategies and operations; and the opinions or beliefs of management and future business goals. No assurance can be given that these expectations will prove to be correct. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, changes in market trends, the completion, results and timing of research undertaken by the Company, risks associated with resource assets, the impact of general economic conditions, commodity prices, industry conditions, dependence upon regulatory, environmental, and governmental approvals, the uncertainty of obtaining additional financing, that the Company's current good relationships with its service providers and other third parties will be maintained, and government subsidies and funding for renewable energy will continue as currently contemplated. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

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