Hut 8 (HUT) Corporate presentation summary

Transaction overview and structure

• Beacon Point data center campus in Nueces County, Texas, features a 15-year triple net lease for 352 MW IT capacity, with three 5-year renewal options and a 3% annual rent escalator.

• Base-term contract value is $9.8B, rising to $25.1B if all renewal options are exercised; projected average annual NOI is $655M.

• Construction cost per MW is $1.86M, with total construction cost estimated at $655M.

• Target initial delivery and commissioning is set for Q3 2027.

Economic upside and scalability

• Upside potential includes lease extensions to 30 years and commercialization of additional site capacity, potentially doubling contracted IT capacity.

• Cumulative expected NOI could reach $25.1B over 30 years, with average annual NOI rising to $837M if all options are exercised.

• Expansion case assumes up to 704 MW of IT capacity under the same financial terms.

Strategic partnerships and execution model

• Project partners include a confidential high-investment-grade tenant, NVIDIA (technology partner), AEP Texas (utility partner), Vertiv (infrastructure systems), and Jacobs (EPCM lead).

• Phase 1 is engineered to NVIDIA's DSX reference architecture for gigawatt-scale AI factories.

• AEP Texas provides 1,000 MW utility capacity, with initial energization expected in Q1 2027.