Applied Digital delivered a robust quarter with over $44 million in adjusted EBITDA, driven by operational progress in large-scale AI data centers and strategic pipeline expansion, positioning the company for substantial future growth.

• Operates one of the world's only 100MW direct-to-chip liquid-cooled AI data centers, demonstrating execution capability and technological leadership.
• Progress on multiple high-capacity data center projects, including Polaris Forge and Delta Forge, with some facilities now operational and others advancing on schedule.
• Expanded development pipeline to four sites with approximately 1 gigawatt of total grid power capacity, subject to approvals and negotiations.
• Data center hosting segment remains highly profitable, with lease revenue fully realized from the flagship 100MW facility, with revenues expected to accelerate as new buildings begin operations.
• The planned spin-off of the cloud business into ChronoScale aims to capitalize on surging GPU demand, reflecting strategic focus on high-growth AI infrastructure markets.