Forum Markets Incorporated (FRMM) investor relations material

Investment thesis

• Focuses on high-performance AI inference compute, with projected global market growth from $106B in 2025 to $255B in 2030 and a 19.2% projected CAGR.

• Targets existing powered data centers and cell tower sites to deploy distributed compute, reduce greenfield development time and build recurring revenue from contracted capacity.

• Modular deployments target 12–20 weeks per pod at suitable sites, versus 4–7 years for traditional greenfield development.

• Hub-and-spoke model pairs regional data centers with tower sites; expansion depends on customer demand, available power and financing.

Platform and deployment plan

• Forum Edge AI LLC combines a 51% majority interest and management by Forum with Edge Node AI’s 49% interest and technical and operating capabilities.

• Initial plans cover approximately 11 MW across Dallas, High Point, North Carolina, and a Texas cell tower site.

• Dallas has 4 MW planned, with 2 MW of utility power energized and GPU deployment and revenue ramp expected in late 2026 or early 2027; High Point has 6 MW planned and initial energization targeted for Q1 2027.

• Initial Texas tower deployment of 1–2 MW is targeted for Q2 2027; illustrative cumulative expansion reaches ~63 MW in Phase 1 and ~120 MW in Phase 2, subject to demand, readiness, performance and financing.

Revenue model and financing

• Multiyear agreements sell dedicated GPU capacity with contracted pricing and service commitments; recurring revenue begins when capacity is available for service.

• Customer down payments are expected to fund part of GPU purchases, with additional equipment debt secured by the hardware and project-level equity contributed separately.

• Each deployment is intended to use a dedicated project entity, with no cross-collateralization between projects.