Contract Ledger

Applied Digital also entered into a Memorandum of Understanding with CoreWeave on June 5, 2026, to assign the lease with CoreWeave for Building 3 at the Polaris Forge 1 campus to a CoreWeave subsidiary, if that subsidiary achieves an investment grade credit rating.

The agreement covers 210 MW of critical IT load under a 15-year take-or-pay structure with renewal options, representing approximately $5.2 billion in base-term contracted revenue, or approximately $12.7 billion if all renewal options are exercised over a 30-year total term.

Extension: Renewal options; total term up to 30 years with total revenue ~$12.7B

The Issuer intends to use the net proceeds from the offering to fund the development and construction of 200 megawatts of critical IT load at Polaris Forge 2, its AI Factory campus in Harwood, North Dakota currently leased to Oracle

In connection with and as partial consideration for the Company’s entry into the Guarantee, Base Electron has agreed to issue to Applied Digital 10% of Base Electron’s outstanding equity. ... Applied Digital’s maximum potential exposure under the Guarantee is effectively limited by the obligations of Base Electron under the Design-Build Agreement, which provides for an anticipated total contract price of approximately $2.4 billion, subject to Applied Digital’s right to limit those obligations by terminating the Guarantee under the circumstances set forth in Item 1.01 of this Current Report on Form 8-K. ... the payment by the Company of a termination fee equal to either $50 million (if paid by August 1, 2026 and Base Electron is current in its payments to B&W) or $100 million.

The Polaris Forge 2 campus has leased 200 MW of critical IT capacity, currently under construction, to a U.S.-Based Investment Grade Hyperscaler, which also holds the first right of refusal for an additional 800 MW of critical IT load at that campus

Extension: First right of refusal for an additional 800 MW of critical IT load at the same campus.

"Coreweave Building 2 Lease" means that certain Datacenter Lease for the property located at 9663 87th Avenue SE, Ellendale, ND, dated as of May 28, 2025, by and between APLD ELN-02 LLC, a Delaware limited liability company, as landlord, and Coreweave, Inc., a Delaware corporation, as tenant. ... the Company's previously disclosed lease with a hyperscaler for the first 100 MW data center located at the Company's 400 MW Ellendale, North Dakota datacenter campus ("Polaris Forge 1")

on August 28, 2025, APLD ELN-02 C LLC, a subsidiary of the Company, ... Forge 1 (“Building 4”), a 150MW data center to be constructed by the Company. ... The total contract value for the initial approximately fifteen (15)-year term of the Building 4 Lease is expected to be approximately $4.0 billion.

On May 28, 2025, APLD ELN-02 LLC and APLD ELN-03 LLC ... each entered into a datacenter lease ... with CoreWeave, Inc. ... The first lease is for the full capacity of Building 2, the Company’s 100MW data center that is currently under construction (“Building 2”) ... The total contract value, for the initial approximately fifteen (15)-year term, (i) for the Building 2 Datacenter Lease is expected to be approximately $3 billion

Extension: Three 5-year extension options.

On May 28, 2025, APLD ELN-02 LLC and APLD ELN-03 LLC ... each entered into a datacenter lease ... with CoreWeave, Inc. ... The second lease is for the full capacity of Building 3, a 150MW data center that is also under construction (“Building 3”) ... The total contract value, for the initial approximately fifteen (15)-year term ... (ii) for the Building 3 Datacenter Lease is expected to be approximately $4 billion

Extension: Three 5-year extension options.