HIVE Digital Technologies Ltd.

Notes

1 The term "ARR" refers to the Company's run rate revenue calculated on an annualized basis. As context dictates, the Company calculates ARR by: (i) multiplying the revenue realized per week times 52 weeks per year, (ii) multiplying the realized revenue per day times 365 days per year, or (iii) multiplying the per quarter data times four quarters per year. Projections of ARR may be unreliable as a predictor of future results because such projections typically do not incorporate the possibility of subsequent cancellations, discounts or downgrades in services.

2 Adjusted EBITDA and gross operating margin are non-GAAP financial measures. Refer to the section titled "Non-GAAP Financial Measures" below for a discussion of how we use non-GAAP measures and for a reconciliation to the nearest comparable GAAP measure.