Soluna (SLNH) Corporate presentation summary

Strategic acquisition and integration

• Achieved 100% ownership of Dorothy 1A, eliminating shared equity and enabling full site control.

• Acquisition accelerates vertical integration and supports rapid development of Dorothy 3 for AI applications.

• Transaction provides liquidity to Spring Lane Capital's Fund I and allows for new equity partners aligned with AI infrastructure.

Financial overview and transaction details

• Acquired 85.4% of Class B Membership Interests in Dorothy 1A for $16.5 million, paid in two cash installments.

• Financing included a $12 million unsecured promissory note maturing May 15, 2027, with the remainder from balance sheet cash.

• Full ownership of Dorothy 1A marks the conclusion of the partnership with Spring Lane Capital.

Expansion and development pipeline

• Full ownership of Dorothy 1A unlocks unilateral control over site conversion and accelerates Dorothy 3 development.

• Dorothy 3 planned as a 150–300 MW AI-focused campus on a 300-acre adjacent parcel, leveraging wind power and ERCOT grid access.

• Ongoing discussions for ownership consolidation of Dorothy 1B (25 MW) and Dorothy 2 (48 MW).

• Over 1 GW of data center capacity in operation, construction, or development across multiple sites.

• Total project pipeline exceeds 4.3 GW, with multiple greenfield AI campus sites in early-stage development.