Arctic Core AS Breaks Ground in Kautokeino 2 MW of Computing Capacity Expected This Summer

Arctic Core AS is commencing groundwork at its data centre site in Kautokeino,
Norway. The company expects to bring 2 megawatts (MW) of operational capacity
online before the end of summer 2026.

Kautokeino, located in the heart of Finnmark, offers ideal conditions for
sustainable, high-performance computing infrastructure: a cold Arctic climate
that reduces the need for mechanical cooling and has cheap and reliable access
to renewable hydroelectric power.

"Breaking ground in Kautokeino marks a significant milestone for Arctic Core,"
said Christoffer Løvdal, Group CFO and Real Estate Manager. "This location
lets us operate efficiently and sustainably, and the 2 MW phase we are
bringing online this summer is the first step in a larger build-out plan,
where the second phase target is north of 5 MW."

The initial 2 MW phase is designed to serve demand for scaling the groups
current activities, will serve as a test site for Lokotechs novel hardware,
and scaling of Powerpool Hostings activities. Construction is progressing on
schedule, and the facility is expected to be operational in Q3 2026.

Arctic Core AS joins a growing cluster of technology infrastructure
investments in northern Norway, a region that is fast becoming a preferred
destination for data centre operators looking to combine low-cost renewable
energy with a naturally cold operating environment. Bringing the site online
will yield significant cash flow to Arctic Core. When fully utilized, the
group expects a 100% to 200% increase in the groups current run-rate revenue.

About Arctic Core AS
Arctic Core AS is a Norwegian technology infrastructure company focused on
building and operating sustainable data centres in the Nordic region. The
company leverages Norway's renewable energy resources and cold climate to
deliver efficient and reliable services.