Deep Isolation Nuclear, Inc. Reports Operational and Financial Results for the First Quarter of 2026 (Form 8-K)

Deep Isolation Nuclear, Inc. Reports Operational and Financial Results for the First Quarter of 2026

Operational Highlights for the First Quarter of 2026

•Launched a non-radioactive, full-scale, at-depth demonstration of the Company's deep borehole waste disposal technology at Halliburton's Drilling Technology Facility near Cameron, TX

•Successfully completed work under the U.S. Department of Energy Advanced Research Projects Agency-Energy's ("ARPA-E") Optimizing Nuclear Waste and Advanced Reactor Disposal Systems ("ONWARDS"), a project led by Oklo, Inc.

•Selected to participate in ARPA-E's SCALEUP Ready program, providing up to $20 million to accelerate market adoption of Deep Isolation's deep borehole waste disposal technology and the first time a company in the nuclear industry has been selected to participate

•Appointed nuclear industry veteran Ralph L. Hunter to the board of directors on January 23, 2026

•Appointed Paula Whitten-Doolin as General Counsel on February 3, 2026

•Appointed Joseph Nelson as Chief Financial Officer on February 17, 2026

•Appointed nuclear operations leader Matthew Sunseri to its advisory board on March 2, 2026

•The SEC declared Deep Isolation Nuclear, Inc.'s registration statement on Form S-1 effective on May 7, 2026, allowing the common stock of the Company to be freely tradable

Financial Highlights for the First Quarter of 2026

•Reported consolidated revenue of $1.4 million

•Reported research and development expense of approximately $3.5 million related to the start of the non-radioactive, full-scale, at-depth demonstration of our deep borehole waste disposal technology

•Had available cash of $22.2 million as of March 31, 2026

•Reported a net loss of $5.4 million primarily attributable to research and development expenses

•Total common shares outstanding as of May 12, 2026 of 57,647,613

BERKELEY, CA, May 14, 2026 - Deep Isolation Nuclear, Inc. ("Deep Isolation" or the "Company"), a leading innovator in nuclear waste disposal technology, today announced its operational and financial results for the three-months ended March 31, 2026.

"We are thrilled to be reporting Deep Isolation's first earnings as a public company," said Rod Baltzer, CEO of Deep Isolation. "Our operational momentum in the first quarter was encouraging - breaking ground on our full-scale demonstration project in Cameron, Texas marks a pivotal milestone as we move from the R&D phase toward deployment, showcasing our innovative approach to safe nuclear waste disposal.

"Additionally, our selection for ARPA-E's SCALEUP Ready program positions us to accelerate commercialization with support from the Department of Energy. These achievements demonstrate our team's execution capabilities and reinforce Deep Isolation's leadership in delivering practical solutions for one of the nuclear industry's most critical challenges. We believe we are entering the market at the exact right time, as the entire nuclear industry is scaling up,gaining momentum and in need of a scalable waste disposal solution."

Operational Progress

Deep Isolation advanced several strategic initiatives during the quarter, including the launch of its full-scale technology demonstration program in Cameron, Texas, in collaboration with Halliburton and the Deep Borehole Demonstration Center. The program, which includes collaboration with Westinghouse, NAC International, Occlusion Nuclear Solutions, and Amentum, is designed to demonstrate a fully integrated deep borehole disposal solution for advanced reactor and

nuclear recycling waste. The non-radioactive demonstration project is expected to provide operational data and support stakeholder and regulatory confidence as the Company advances commercialization of its technology.

The Company also announced the successful completion of its work under the ARPA-E ONWARDS program, confirming through modeling and analysis that waste streams from advanced reactor fuel recycling are compatible with Deep Isolation's deep borehole disposal system and can achieve long-term safety performance significantly exceeding target standards. In addition, Deep Isolation was selected for ARPA-E's SCALEUP Ready program to support commercial deployment of its Universal Canister System, with the Company advancing through the contracting phase for potential funding of up to $20 million to support its Cameron, Texas demonstration project. Deep Isolation is the first company in the nuclear industry to have ever been selected to participate in ARPA-E's SCALEUP Ready program.

Commercial Progress and Other Company Events

During the quarter, Deep Isolation strengthened its leadership and governance capabilities through several key appointments. The Company appointed Ralph L. Hunter to its Board of Directors, bringing more than 35 years of nuclear industry experience, including senior leadership roles across advanced nuclear development, operations, and policy. Deep Isolation also appointed Paula Whitten-Doolin as General Counsel and Joseph Nelson as Chief Financial Officer to support the Company's commercialization efforts, public company readiness, and strategic growth initiatives. In addition, the Company appointed nuclear operations leader Matthew Sunseri to its Advisory Board, adding significant expertise in nuclear safety, regulatory strategy, and operational governance as Deep Isolation advances its demonstration and commercialization programs.

On May 8, 2026, the U.S. Securities and Exchange Commission (SEC) declared Deep Isolation's registration statement on Form S-1 effective, allowing the Company's common stock to be freely tradable. The Company is actively working with OTC Markets Group, Inc. to enable its shares of common stock to be traded on the OTCQB exchange.

Financial Summary

(Amounts in thousands)						For the Three Months Ended
						March 31, 2026						March 31, 2025
Revenue						$	1,447					$	1,520
Research and development expense						3,489						-
Selling, general and administrative expenses						2,840						993
Net Loss						(5,416)						(166)
EBITDA1						(5,563)						(135)
Adjusted EBITDA1						(1,536)						(135)
Cash						22,226						2,150

Revenue decreased by approximately $73 thousand, or 5%, for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. The decrease in revenue was primarily attributable to lower revenues at Deep Isolation following the completion of certain projects during 2025, offset by higher revenues at the Company's subsidiary, Freestone Environmental Services, due to an increase in the number of active contracts.

Research and development expense increased by approximately $3.5 million for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. The increase in research and development expense was attributed to the ordering of long-lead items and front-end engineering work related to the Company's non-radioactive, full-scale, at-depth demonstration of its deep borehole technologies.

Selling, General and Administrative expenses increased by approximately $1.8 million, or 186%, for the three months ended March 31, 2026, compared to the three months ended March 31, 2025. The increase in selling, general and

administrative expenses was primarily attributable to higher accounting, audit, legal and travel expenses along with addition of 4 new employees, including the Chief Financial Officer and General Counsel.

Net loss increased by approximately $5.3 million for the three months ended March 31, 2026, compared to the three months ended March 31, 2025, primarily due to the increases in research and development and selling, general and administrative expenses described above.

EBITDA1 was ($5.6) million for the three months ended March 31, 2026, compared to ($135) thousand for the three months ended March 31, 2025. The decrease in EBITDA was primarily attributed to higher research and development expenses and selling, general, and administrative expenses as described above.

Adjusted EBITDA1 was ($1.5) million for the three months ended March 31, 2026, compared to ($135) thousand for the three months ended March 31, 2025. The decrease in Adjusted EBITDA was primarily attributed to higher selling, general, and administrative expenses as described above.

1 EBITDA and Adjusted EBITDA are non-GAAP financial measures and should not be used in isolation or as a substitute for Deep Isolation's financial results presented in accordance with Generally Accepted Accounting Principles ("GAAP"). For the definitions and reconciliations of these measures to the most directly comparable financial measures calculated and presented in accordance with GAAP, please refer to Exhibit II at the end of this press release

Conference Call

Deep Isolation will host a conference call to discuss their operational and financial results for the first quarter of 2026 on Thursday May 14, 2026 at 8:30AM ET. The presentation of the Company's operational and financial results will be followed by a live Q&A session.

A webcast of the conference call will be accessible on Deep Isolation's investor relations website at https://www.deepisolation.com/investors/. The earnings release and presentation will also be posted to the investor relations website prior to the conference call.

The live conference call may also be accessed by telephone by dialing (877) 704-4453 or (201) 389-0920. For those unable to listen to the live conference call, a replay will be available after the call through the archived webcast on Deep Isolation's investor relations website or by dialing (844) 512-2921or (412) 317-6671. The access code for the replay is 13760350. The replay will be available for 30 days following the live call.

About Deep Isolation

Deep Isolation is the first company to undertake development of technologies for nuclear waste disposal in deep boreholes. When commercialized Deep Isolation's solution will offer a uniquely tailored solution to help countries identify, plan for and complete the necessary steps to dispose of their nuclear waste inventories. With 99 patents issued to date, Deep Isolation's technology is being designed to leverage proven drilling practices to allow safe isolation of waste deep underground in horizontal, vertical, or slanted borehole repositories. Deep Isolation's Universal Canister System was developed through a three-year project funded by the U.S. Department of Energy's Advanced Research Projects Agency-Energy and is engineered to support integrated management of spent fuel and high-level radioactive waste from legacy and advanced reactors across storage, transportation and eventual disposal.

For more information, visit: deepisolation.com

Media Contact:

Sophie McCallum

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Investor Contact:

Caldwell Bailey

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