New Era Energy & Digital (NUAI) investor relations material

Executive summary

• Transitioned from legacy oil, gas, and helium operations to focus on large-scale data center development, with TCDC as the flagship project targeting over 1 GW of capacity in Ector County, Texas, and phased power delivery starting as early as end of 2027.

• Simplified TCDC structure by removing Sharon AI note overhang, consolidating ownership, and bringing in institutional partners such as Stream Data Centers and Macquarie.

• Raised $120M in equity, completed a $115M registered offering, and secured a $290M credit facility, ending April with over $80M in cash.

• Acquired or entered agreements for an additional 54-acre corridor, expanding the TCDC campus to 492 acres and enhancing site flexibility and infrastructure control.

• Leadership team strengthened with key hires in finance, operations, and governance to support execution and hyperscaler relationships.

Financial highlights

• $120M equity raised, $115M registered common stock offering completed, and $290M credit facility closed with Macquarie.

• Cash position exceeded $80M as of April 30, 2026, with access to up to $270M more from Macquarie upon milestones.

• Fully diluted shares outstanding increased to 119,611,040 as of May 12, 2026, reflecting equity issuances and warrant exercises.

• Capital structure now cleaner, with major liabilities and liens removed, improving financability.

• Q1 2026 revenue was $802,353, up 146% year-over-year, but net loss widened to $8,991,887 due to higher G&A and project costs.

Outlook and guidance

• Phase I construction targeted to begin by end of Q2, with first power expected by year-end 2027.

• Near-term priorities include securing a hyperscaler lease, finalizing Stream JV agreement, and advancing permitting and development workstreams.

• 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.

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

• Substantial doubt remains about the ability to continue as a going concern without further capital due to large capital needs and negative cash flows.