New Era Energy & Digital (NUAI) investor relations material

Executive summary

• Executed a strategic pivot in late 2025 from legacy natural gas operations to focus on developing large-scale data center campuses, with the flagship Texas Critical Data Centers (TCDC) project targeting over 1 GW of compute capacity in Ector County, Texas, and phased power delivery starting as early as end of 2027.

• Q1 2026 results primarily reflect legacy oil and gas operations, with ongoing evaluation for monetization or exit.

• Strategic focus remains on advancing the TCDC data center project toward commercialization and scaling development workstreams.

• Completed the acquisition of the remaining 50% interest in TCDC for $70 million, funded by $10 million cash, $10 million in equity, and a $50 million senior secured convertible promissory note, which was repaid in April 2026.

• Management team strengthened with new CFO and Chief Corporate Officer appointments.

Financial highlights

• Revenue for Q1 2026 was $802,353, up 146% year-over-year, driven by higher natural gas prices and volumes.

• Net loss for Q1 2026 was $8,991,887, compared to $3,320,256 in Q1 2025, reflecting increased G&A, impairment, and project development costs.

• General and administrative expenses rose to $7.4 million, up 280% year-over-year, mainly due to legal, stock compensation, and consulting costs.

• Cash balance at March 31, 2026 was $2.2 million, with a working capital deficit of $57.9 million.

• Cash position exceeds $80 million as of April 30, 2026, providing strong liquidity.

Outlook and guidance

• Management expects capital requirements of approximately $73.7 million over the next 12 months, including $50 million due by June 30, 2026 for financing arrangements.

• Total capital expenditures for the flagship project could exceed $15 billion, with $50–$300 million expected in the next year, funded by tenant prepayments, project debt, and equity.

• TCDC project financing post-lease expected to target approximately 80% debt financing at the asset level.

• Liquidity was strengthened post-quarter through the $290 million term loan and public equity raise, but substantial doubt remains about the ability to continue as a going concern without further capital.

• Liquidity and funding flexibility expected to support equity contributions to TCDC Phase 1 and future phases.