Contract Ledger

APLD DevCo LLC, a Delaware limited liability company (the “Company”) hereby unconditionally promises to pay to Macquarie Equipment Capital, Inc. ... the principal sum of (a) FORTY FIVE MILLION DOLLARS ($45,000,000.00) ... plus (b) FIFTY FIVE MILLION DOLLARS ($55,000,000.00) ... (the “Initial Loan”) ... The Loan matures on the earliest of (i) the date of acceleration of the Loan, (ii) July 18, 2026, to the extent the Initial Lease Execution (as defined therein) has not occurred on or before April 18, 2026, or (iii) December 18, 2027 (the “Maturity Date”).

Extension: Uncommitted Additional Loans and Rollover Loans for new or existing data center projects at Lender's sole discretion; DevCo Facility terminates no later than December 18, 2027.

In October 2025, the Company converted its Credit Facility with Macquarie as described in Note 18 to an up to $300,000 project-specific financing facility for the development of its data center campus in Panther Creek, Pennsylvania, United States. The Company drew an additional $50,000 from the converted facility, for a total of $100,000 drawn and issued an additional 2,197,127 warrants with a strike price of $5.69 and a term of 5 years.

On October 10, 2025, Bitfarms Ltd. ... entered into Amendment No. 1 to the Loan and Security Agreement ... with Macquarie Equipment Capital, Inc. ... The Amendment modified the terms of the Company's previously-announced private debt facility ... for up to $300 million with Macquarie to, among other things, limit the borrowers and guarantors under the Loan Agreement to certain subsidiaries of the Company holding project-specific assets ... The aggregate principal amount of $300 million in funding under the Facility is intended to fund the development of the data center project at Panther Creek.

The Promissory Note provides for a principal sum of (a) $50 million (the “Initial Loan”), which was drawn on the Closing Date, plus (b) subject to the mutual consent of the Borrower and the Lender, additional loans in an aggregate principal amount not to exceed $25 million (the “Additional Loans” and together with the Initial Loan, the “Loan”). ... Proceeds of the Loan under the Promissory Note will be used, in part, to ... (iii) fund the purchase of the financed properties located on the Company’s campus in Harwood, ND (“Polaris Forge 2”), including all associated closing costs, title fees, and legal expenses, (iv) finance improvements to the Polaris Forge 2 properties, (v) fund the purchase of the Transformers (as defined therein) and other equipment expected to be installed and used for

In April 2025, the Company entered into an agreement for a credit facility up to $300.0 million from Macquarie for HPC development and drew down the initial tranche of $50.0 million. ... The second tranche of the credit facility will allow the Company to draw up to an additional $250.0 million and will be drawable as the Company achieves specific development milestones at its Panther Creek location.

On November 27, 2024 (the “Closing Date”), APLD ELN-02 Holdings LLC (the “Borrower”), a Delaware limited liability company and a subsidiary of Applied Digital Corporation, a Nevada corporation (the “Company”) entered into a promissory note (the “Promissory Note”) with Macquarie Equipment Capital, Inc., a Delaware corporation (the “Lender”). The Promissory Note, which was fully drawn on November 27, 2024, provides for a loan of $150 million (the “Loan”) ...