NU E Power closes second tranche of upsized private placement

Vancouver, British Columbia and Calgary, Alberta--(Newsfile Corp. - August 12, 2026) - NU E Power Corp. (CSE: NUE) (OTC Pink: NUEPF) (FSE: NUE1) (" NUE " or the " Company ") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement of units of the Company, as upsized by the Company's news release dated August 11, 2026 (the " Offering ").

Pursuant to the second tranche closing, the Company issued 12,609,019 units (the " Units ") at a price of $0.15 per Unit for additional gross proceeds of $1,891,353 (the " Second Tranche ").

Together with the first tranche of the Offering, which closed on July 8, 2026 for gross proceeds of $1,968,700 through the issuance of 13,124,667 Units, the Company has raised aggregate gross proceeds of $3,860,053 under the Offering. The Offering was oversubscribed relative to the Company's previously announced upsized offering amount of $3,800,000 and is now closed.

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant. Each whole warrant (a " Warrant ") entitles the holder to purchase one additional common share of the Company at an exercise price of $0.25 for a period of three years from the applicable closing date, subject to the acceleration provisions described in the Company's prior news releases.

The net proceeds from the Second Tranche are expected to be used for advancement of the Company's project portfolio, acquisition and evaluation of additional power infrastructure opportunities, working capital, and general corporate purposes.

Finder's Fees

In connection with the Second Tranche, the Company paid eligible finders aggregate cash fees of $75,015 and issued 606,897 broker warrants. Each broker warrant entitles the holder to acquire one Unit of the Company at an exercise price of $0.15 for a period of 24 months from the closing date, in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the " CSE ").

All securities issued under the Second Tranche are subject to a statutory hold period of four months and one day from the 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.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any applicable state securities laws. Accordingly, the securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction where such offer or sale would be unlawful.