Mr. Broderick Gunning reports

NU E POWER CORP. ANNOUNCES UPSIZING OF NON-BROKERED PRIVATE PLACEMENT

NU E Power Corp., further to its news releases dated June 23, 2026, and July 8, 2026, has increased the size of its previously announced non-brokered private placement of units of the company from aggregate gross proceeds of up to $3-million to aggregate gross proceeds of up to $3.8-million.

The offering remains priced at 15 cents per unit. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at an exercise price of 25 cents for a period of three years from the applicable closing date, subject to the acceleration provisions described below.

The company completed the first tranche of the offering on July 8, 2026, issuing 13,124,667 units for gross proceeds of $1,968,700. The company expects to complete one or more additional tranches of the offering, subject to receipt of subscription funds, execution of subscription agreements, satisfaction of customary closing conditions, and compliance with applicable securities laws and the policies of the Canadian Securities Exchange. There can be no assurance that any additional tranche will be completed, or completed on the terms currently contemplated.

Rationale for extension and upsizing

The company is extending and upsizing the offering in response to additional subscription interest received after announcement of the offering. The increased size of the offering is intended to allow the company to complete additional subscriptions above the previously announced maximum offering size.

The net proceeds from the offering are expected to provide additional financial flexibility as the company advances its portfolio of energy infrastructure projects and evaluates new development opportunities.

Net proceeds from the offering are expected to be used for:

• Advancement of the company's project portfolio;
• Acquisition and evaluation of additional power infrastructure opportunities;
• Working capital;
• General corporate purposes.

All other material terms of the offering remain unchanged from the company's previously announced financing terms.

Warrant acceleration

If the closing price of the company's common shares on the Canadian Securities Exchange equals or exceeds 40 cents for 10 consecutive trading days at any time after the date that is four months and one day following the applicable closing date and before the expiry of the warrants, the company may accelerate the expiry of the warrants by providing written notice to holders. In such event, the warrants will expire 30 calendar days following the date of the notice. The company will issue a news release on the same day any acceleration notice is delivered.

Finders' fees

The company may pay finders' fees in connection with the offering to eligible finders in accordance with applicable securities laws and the policies of the CSE.

All securities issued in connection with the offering, including any common shares, warrants, shares issuable upon exercise of warrants and any finder securities, will be subject to a statutory hold period of four months and one day from the applicable closing date in accordance with applicable Canadian securities laws and the policies of the CSE. The warrants will not be listed on the CSE or any other exchange.

The offering is being completed pursuant to available prospectus exemptions under National Instrument 45-106, Prospectus Exemptions, including the accredited investor exemption and, where applicable, the minimum amount investment exemption.

Completion of the offering, including any additional tranche, remains subject to receipt of subscriptions, execution of subscription agreements, receipt of subscription funds, satisfaction of customary closing conditions, and compliance with applicable securities laws and CSE policies.

About NU E Power Corp.

NU E Power 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 other large-load industrial demand.

We seek Safe Harbor.