AIB Data Centers (AIB) Investor presentation summary

Strategic positioning and market opportunity

• Focused on developing AI-optimized, power-secured data centers with a "power-first" infrastructure approach, targeting underserved midmarket projects up to 150 MW per site.

• Secured 65 MW contracted power, with a total pipeline of 570 MW identified across six active sites, leveraging brownfield conversions and grid-tied, ESA-backed locations.

• Market demand for data center power is projected to grow at a 38% CAGR through 2030, with significant grid constraints and a 1% vacancy rate driving up powered land values.

• Differentiated by modular, rapid deployment (9-10 months), owner-agnostic leasing, and a disciplined site selection process prioritizing firm power agreements.

• Management team brings over $40B in real estate transactions and 3GW+ of data center construction experience.

Financial performance and capital position

• Q2 2026 revenue was $2.9M, down 39% YoY, with a gross margin of -18% due to higher energy costs and a temporary site de-energization.

• Adjusted EBITDA for Q2 2026 was $(3.1)M, with operating cash flow at $(4.7)M for the first half of 2026.

• Cash and equivalents rose to $52.8M following a $59M net offering in June 2026, with no debt and stockholders' equity at $82.7M.

• Total assets increased to $90.4M, up 424% from year-end 2025, driven by the business combination and capital raise.

• Market cap per operating MW is ~$2M, significantly below the sector median of $26M/MW, highlighting a valuation gap.

Growth trajectory and operational highlights

• Transitioned from a single-tenant hosting operator to a diversified AI/HPC digital infrastructure platform.

• Repurposed a 40 MW bitcoin mine (CLT-01) into a 65 MW AI colocation campus, with further expansion and new site acquisitions underway.

• Active commercial pipeline includes lease negotiations with multiple AI and GPU cloud providers, targeting long-term, credit-backed contracts.

• Modular build strategy and early supply chain commitments enable faster delivery and reduced risk compared to traditional data center builds.

• Illustrative EBITDA potential of $1.5M per secured MW, with a $31.2M EBITDA target per site and $872M/year across the pipeline (management estimates).