NANO Nuclear Energy And University of Illinois Engaging With NRC As Part Of Its Detailed Audit And Technical Review Process Of Its Construction Permit Application To Deploy The KRONOS MMR Energy System

NANO Nuclear Energy Inc. (NASDAQ:NNE) ("NANO Nuclear" or the "Company"), an advanced nuclear energy and technology company developing microreactors, nuclear fuel cycle capabilities and nuclear transportation 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.").

Following the submission of the CPA by U. of I. on March 31, 2026, formal acceptance of the CPA for review by the NRC on May 18, 2026, and the initiation of formal review activities on June 23, 2026, U. of I. and NANO Nuclear have since been engaging with the NRC as part of its detailed audit and technical review process for several months.

Throughout the ongoing audit, technical teams from U. of I. and NANO Nuclear have maintained frequent engagement with NRC staff, responding to questions, providing additional information and discussing technical areas identified by the NRC as part of its review. NANO Nuclear believes this sustained interaction represents an important component of advancing the CPA through the NRC’s safety, environmental and technical review process.

The current audit activities are expected to continue over the near-term, with U. of I. and NANO Nuclear seeing opportunity for completion of this phase in the coming months, subject to the NRC’s review schedule, the scope and timing of any additional information requests and other regulatory considerations.

The NRC’s current public project schedule targets completion of a draft Environmental Assessment and draft Safety Evaluation in February 2027 with a final Environmental Assessment in May 2027, followed by issuance of the final Safety Evaluation in September 2027. These milestones remain consistent with NANO Nuclear’s previously disclosed expectation for initial construction activities for the KRONOS MMR™ project at the U. of I. to commence during the second half of 2027, subject to receipt of the required regulatory approvals and other customary project requirements.