First Half 2026 and Subsequent Commercial and Operational Highlights

   -- Completed business combination with NewHold Investment Corp III ("SPAC") 
      on September 21, 2026 (the "Business Combination"); newcleo's ordinary 
      shares and warrants commenced trading on the Nasdaq Global Select Market 
      on September 22, 2026 under the symbols "NWCL" and "NWCLW," respectively 
 
   -- The Business Combination generated gross proceeds of approximately $247 
      million, consisting of approximately $31 million released from the SPAC's 
      trust account and $216 million from the PIPE financing 
 
   -- Raised approximately $18.7 million in additional financing unrelated to 
      the Business Combination since May 2026, bringing total funds raised 
      since newcleo's founding to over $1 billion 
 
   -- Installed the main vessel and turbine for its PRECURSOR non-nuclear 10 
      MWt demonstration reactor at the ENEA Brasimone Research Center outside 
      Bologna, Italy; completion of construction for PRECURSOR is expected by 
      the end of 2026, with at-scale validation of systems to commence 
      thereafter 
 
   -- In partnership with Oklo, selected by the U.S. Department of Energy for 
      advanced negotiations under the Surplus Plutonium Utilization Program 
 
   -- Submitted Regulatory Engagement Plans to the U.S. Nuclear Regulatory 
      Commission for the Company's LFR-AS-200 lead-cooled fast reactor and its 
      planned U.S. mixed-oxide (MOX) fuel manufacturing facility 
 
   -- Received notice of an overall opinion of satisfactory compliance from the 
      French Nuclear Safety and Radiation Protection Authority for the proposed 
      safety features for the Company's planned MOX fuel manufacturing facility 
      in France 
 
   -- Announced the acquisition, subject to customary closing conditions, of 
      Bonifait Pesage, a French manufacturer of nuclear-grade scales and 
      precision industrial weighing equipment, augmenting the Company's 
      vertically integrated capabilities 
 
   -- Announced the appointment of Jeffrey Lyash, a nuclear industry veteran 
      and former head of the Tennessee Valley Authority, as Chairman of the 
      Board of Directors 
 
   -- Announced the appointment of William D. Magwood as Vice-Chairman of 
      newcleo's Board of Directors, effective January 1, 2027 
 
   -- Announced the hiring of Dustin Greenwood as Vice President of U.S. 
      Operations and Travis Chapman as Director of U.S. Regulatory Affairs and 
      Licensing, strengthening the Company's growing U.S. team 
 
   -- Announced a partnership with SHINE to assess and jointly pursue 
      opportunities relating to nuclear fuel recycling in the United States and 
      European Union 
 
   -- On September 10, 2026, newcleo held an Analyst and Investor Day, a 
      recording of which is available on newcleo's website 

First Half 2026 Financial Highlights

   -- Generated Revenue from Products and Services of approximately EUR19.4 
      million, an increase of approximately 46% over First Half 2025 
 
   -- Reported Net Loss of approximately EUR82.0 million, an increase of 
      approximately 10% over First Half 2025 
 
   -- Reported Tangible Capital Expenditures of EUR25.3 million, an increase of 
      37% over First Half 2025 
 
   -- Reported Selling, General & Administrative expenses of EUR59.2 million, 
      an approximately 21% increase over First Half 2025 
 
   -- Cash & Cash Equivalents as of June 30, 2026 stood at EUR66.5 million 
 
   -- Total ordinary shares outstanding as of the closing date of the Business 
      Combination stood at 281,534,950 
 
   -- As of September 30, 2026, preliminary, unaudited Cash & Cash Equivalents 
      for the Company stood at approximately EUR233 million 

LONDON, Oct. 02, 2026 (GLOBE NEWSWIRE) -- newcleo plc (Nasdaq: NWCL) ("newcleo" or the "Company"), a pioneer in advanced modular reactor ("AMR") technology and nuclear fuel manufacturing, today announced its operational and financial results for the six months ended June 30, 2026.

"Becoming a public company is a defining milestone for newcleo, and I want to thank every member of our team for the work that brought us to this point and to reporting our first results as a public company," said Stefano Buono, Founder and CEO of newcleo. "Access to the public markets strengthens our ability to execute on our mission to deliver a credible, near-term path to advanced nuclear deployment and to close the nuclear fuel cycle. The disciplined engineering, licensing, and partnership work carried out by our more than 900 employees across Europe and the United States will continue to drive newcleo's progress, and I am excited to work with this incredible team every day.

"Importantly, newcleo is moving quickly down the path to both technical validation and regulatory approval for our facilities. The installation of the main vessel for PRECURSOR, our 10 MWt non-nuclear demonstration reactor at Brasimone, is a development milestone for the LFR technology ahead of planned commercial deployment. Completion of construction for PRECURSOR, which is expected by the end of 2026, and beginning the process of reactor system validation, are the next critical steps in qualifying the technology that will lead to the deployment of our LFR-200 reactor.

"In parallel, pre-licensing for our reactor and MOX fuel facilities in France, Slovakia and the United States, including our ongoing engagement with the U.S. Nuclear Regulatory Commission, has moved forward. Our U.S. growth is a particular focus: our work toward siting at Savannah River, and the broader policy support for nuclear expansion in the U.S., position newcleo to play a meaningful role in meeting U.S. energy demand, including from AI infrastructure. We look forward to updating investors on our progress."

Commercial & Operational Events

On May 26, newcleo was selected by the U.S. Department of Energy for advanced negotiations under the Surplus Plutonium Utilization Program. The program aims to make designated surplus plutonium material available to industry participants and enable the conversion of those materials into fuel for advanced nuclear reactors, subject to U.S. security, safeguards and material accountability requirements. newcleo's selection, in partnership with Oklo, continues the companies' strategic partnership as they work together to develop advanced fuel fabrication infrastructure in the U.S.

On June 16, 2026, the Company announced a partnership with SHINE to collaborate on advancing innovative technologies for the recycling of used nuclear fuel. Under the agreement, the parties will assess how SHINE could supply newcleo with reprocessed materials from the used nuclear fuel of traditional reactors to manufacture MOX fuel, and how SHINE could recycle spent fuel from newcleo's reactors. The parties also intend to jointly pursue U.S. federal funding opportunities and explore additional opportunities for collaboration across both the U.S. and European Union, where spent fuel stockpiles represent a growing strategic priority to support energy independence.

On June 30, 2026, newcleo announced its entry into an agreement to acquire Bonifait Pesage, a French manufacturer of nuclear-grade scales and precision industrial weighing equipment with a strong customer base in the French nuclear ecosystem. Bonifait Pesage manufactures, installs, calibrates, and maintains weighing equipment, while also providing technical support. Since 2017, the company has held key certifications for the maintenance and verification of weighing systems used in ionizing-radiation environments. The acquisition forms part of newcleo's vertical integration strategy, pursued since 2023, and is expected to close in the fourth quarter of 2026, subject to customary closing conditions. It is intended to bring critical manufacturing capabilities in-house, secure access to nuclear-grade weighing equipment required for planned MOX fuel manufacturing facilities, reduce supply-chain risk and support equipment customization.

Also subsequent to the first half, newcleo progressed work on the PRECURSOR non-nuclear demonstration reactor with the installation of the main vessel and turbine at ENEA's Brasimone facility located outside of Bologna, Italy. The 10 MWt non-nuclear demonstration reactor, which is scheduled for completion at the end of 2026, is intended to provide the Company with a fully integrated, representative operating and power generating environment for the Company's planned commercial reactors. Experimental data obtained through the operation of PRECURSOR is expected to inform the Company's licensing processes on both sides of the Atlantic, including safety computations, system performance analysis and materials development.

"In the first half of 2026, newcleo continued moving our operations forward, continuing to convert planning into reality," said Elisabeth Rizzotti, Co-Founder, Deputy-CEO and COO of newcleo. "Our OTHELLO test loop is operating, PRECURSOR is under active construction at Brasimone with major components manufactured and installed by our own vertically integrated subsidiaries, which gives us direct control over cost, schedule, and quality across the supply chain rather than relying on third parties for critical systems. At the same time, our work with trusted partners continues to translate into concrete engineering and commercial work. Each of these efforts, testing, building, manufacturing, and partnering, reflects the same discipline: turning our technology roadmap into physical progress on the ground."

Regulatory Progress