AIB Data Centers inks 50 MW Nebius deal for CLT1

Highlights Include Landmark Agreement with Nebius, Expansion of Power Portfolio, and Funding Strategy for CLT1 NEW YORK, Oct. 07, 2026 (GLOBE NEWSWIRE) -- AIB Data Centers, Inc. (NYSE American: AIB) ("AIB" or the "Company"), a developer and operator of digital infrastructure focused on artificial intelligence and high-performance computing workloads, today issued a letter to shareholders from Chief Executive Officer Jerry Tang highlighting the Company's significant recent progress and outlining its development and funding strategy for CLT1. Recent developments highlighted in the letter include: -- Execution of a 12-year agreement with Nebius for 50 MW of critical IT capacity at AIB's CLT1 data center campus, with two potential five-year renewal periods. -- Significant customer funding support for CLT1 development, including contractual customer prepayments expected to fund a meaningful portion of the initial development. -- A project-level financing strategy designed to complement customer funding with potential project-level debt and preferred equity. -- Commercial validation of AIB's power-first development strategy, with the Nebius agreement demonstrating the Company's ability to convert secured power capacity into long-term contracted data center capacity. -- Completion of a strategic Texas acquisition that increased AIB's total contracted utility power capacity from 65 MW to approximately 120 MW -- Continued expansion of AIB's development pipeline and power portfolio, positioning the Company to pursue additional AI and high-performance computing opportunities. Based on AIB's current development plan and anticipated sources of project financing, including customer prepayments and project-level financing, the Company does not currently anticipate requiring corporate-level common equity to fund the development of CLT1. Letter from the Chief Executive Officer Dear Fellow Shareholders, The past 30 days have been among the most consequential periods in AIB Data Centers' development. During this period, we have taken significant steps toward transforming AIB from a company assembling a portfolio of strategically located, power-rich data center sites into an operating platform with contracted capacity from a leading AI infrastructure customer. Most importantly, we announced our agreement with Nebius for 50 MW of critical IT capacity at our CLT1 data center campus. The agreement has an initial term of 12 years, with two potential five-year renewal periods. We believe this represents an important validation not only of CLT1, but also of AIB's broader strategy. Our thesis has been straightforward: in an AI economy increasingly constrained by access to power, securing scalable power infrastructure can create significant strategic value. We believe the Nebius agreement demonstrates our ability to convert that infrastructure into long-term contracted customer relationships. We also completed a strategic acquisition in Texas, increasing AIB