NANO Nuclear's KRONOS MMR(TM) Program Advances as U.S. NRC Initiates Formal Review Activities with University of Illinois Urbana-Champaign and NANO Nuclear Energy

About this update from Nano Nuclear Energy Inc.

Meeting with NRC kicks off review activities and marks continued regulatory progress following acceptance of the KRONOS MMR(TM) Construction Permit Application and supports previously disclosed expectations for initial construction activities to begin in the second half of 2027 New York, New York--(Newsfile Corp. - June 25, 2026) - NANO Nuclear Energy Inc. (NASDAQ: NNE) ("NANO Nuclear" or "the Company") , a leading advanced nuclear micro modular reactor and technology company focused on developing clean energy solutions, today announced continued progress in the U.S. Nuclear Regulatory Commission's ("NRC") review of the Construction Permit Application ("CPA") for deployment of NANO Nuclear's KRONOS MMR™ Energy System at the University of Illinois Urbana-Champaign ("U. of I."). On June 23, 2026, the NRC publicly announced that it had met with representatives from U. of I. and NANO Nuclear to mark the start of its review of the CPA and the planned KRONOS MMR™ research reactor project on the U. of I. campus. The meeting follows the agency's formal acceptance of the KRONOS MMR™ CPA for review on May 18, 2026. Acceptance of the CPA initiated the NRC's formal environmental, safety and technical review process for the planned deployment of the KRONOS MMR™ system at U. of I., representing a major advancement toward regulatory licensing, construction and future deployment of the reactor system. The meeting also provided additional visibility into NRC's anticipated review schedule, indicating that the environmental assessment is expected to be completed in the Spring of 2027 and the safety evaluation in early Fall of 2027. NANO Nuclear believes these projected review milestones are consistent with the Company's previously disclosed expectation, announced following NRC acceptance of the CPA, that the formal NRC review process could be completed during 2027, providing the opportunity for initial construction activities on the U. of I. campus to commence during the second half of 2027, subject to regulatory approvals and other customary project requirements. NANO Nuclear believes the commencement of formal NRC review activities further reinforces the KRONOS MMR™ system's position as the first commercially-ready microreactor developer and among a select group of advanced reactor programs progressing through the formal U.S. regulatory licensing process and highlights the Company's broader strategy of accelerating commercialization through regulatory engagement, engineering advancement and strategic partnerships.

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