Mr. Broderick Gunning reports

NU E POWER CORP. ANNOUNCES COMPLETION OF UNWINDING ITS ACQUISITION OF BLU DOT SYSTEMS INC.

NU E Power Corp. has entered into an agreement, effective March 6, 2026, with Redhill Capital Corp., to rescind and unwind the acquisition of Blu Dot Systems Inc. that was completed on Oct. 10, 2025.

Summary of the rescission agreement

The rescission agreement stipulates that NU E and Redhill shall unwind the transactions related to the acquisition such that the parties shall be restored to their respective positions as they existed prior to the acquisition. The unwind involves, among other things, the following:

• The cancellation of the 29.5 million common shares in NU E originally issued to the shareholders of Blu Dot prior to the acquisition removing the consideration shares from the company's issued and outstanding share capital;
• The cancellation of the Class A common voting shares of Blu Dot originally issued to NU E in relation to the acquisition and the concurrent issuance by Blu Dot to the Blu Dot shareholders of such number of Blu Dot shares as is necessary to restore the Blu Dot shareholders to the position they held immediately prior to the acquisition; and
• Redhill and the Blu Dot shareholders assume all liabilities of Blu Dot, with indemnification protections for NU E.

A copy of the rescission agreement will be posted under NU E's profile on SEDAR+.

The parties have mutually determined that unwinding the acquisition is in their respective best interests. As of the date hereof, the parties remain at arm's length. No fees, penalties or other compensation were payable by any party in connection with the rescission agreement, other than amounts payable between NU E and Blu Dot incurred in the ordinary course of business relating to the settlement of intercompany items arising from the acquisition.

Board changes

The company would like to announce that Mandy Cummings (nee Adamowski) and Devon Sandford resigned from the board of directors of NU E, effective Feb. 10, 2026, and Feb. 18, 2026, respectively. The board thanks them for their contributions during their tenure.

About NU E Power Corp.

NU E is a multistage 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.

We seek Safe Harbor.