Blue Acquisition Corp/Cayman
For the period ended Sep 25, 2026. Filed Sep 25, 2026.
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Sep 25, 2026 · Filed Sep 25, 2026
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Contents
EX-99.1 · PROXY STATEMENT
Proxy Statement/Prospectus. Investors, shareholders and other interested persons are urged to read the Proxy Statement/Prospectus and other relevant documents that will be filed with the SEC carefully and in their entirety when they become available because they will contain important information about the Business Combination. Investors, shareholders and other interested persons will be able to obtain free copies of the Proxy Statement/Prospectus and other documents containing important information about Blockfusion, Blue and Pubco through the website maintained by the SEC at www.sec.gov. Company Statement on Non-GAAP Measures This Presentation contains certain financial forecasts, as further described under the heading “Use of Projections” above, prepared by Company management, which include certain non-GAAP measures and metrics, which are briefly described, together with such measures’ closest GAAP measures, as follows: Net Revenue (Non-GAAP): Net Revenue represents projected cash receipts from customer contracts excluding pass-through items such as utilities. These forecasts are prepared on a cash basis, meaning they reflect the timing and magnitude of expected cash inflows rather than accrual-based accounting results. The most directly comparable GAAP measure to Net Revenue is Revenue recognized under ASC 606, which would apply accrual accounting and straight-line recognition for long-term leases with escalators. Under GAAP, revenue is recognized when performance obligations are satisfied, regardless of when cash is collected, and would include adjustments for straight-lining of escalators. EBITDA (Non-GAAP): EBITDA refers to earnings before interest, taxes, depreciation, and amortization. It is calculated by starting with Operating Income and adding back non-cash charges such as depreciation and amortization. The most directly comparable GAAP measure to EBITDA is Operating Income, which includes non-cash items and accrual adjustments. Blockfusion’s management included the foregoing non-GAAP measures, instead of their closest GAAP measures, because Blockfusion’s management believes these cash-based measures provide a more meaningful view of the project’s liquidity and earnings power for evaluating investment decisions. GAAP measures incorporate accruals, straight-lining of escalators, and other adjustments that do not impact actual cash availability. Presenting GAAP measures would require significant assumptions about lease accounting and timing, which are not practicable to measure or predict at this stage of Blockfusion’s development and because Blockfusion’s management anticipated the transition to become an HPC/AI data center. INVESTOR PRESENTATION September 2026 4
TABLE OF CONTENTS 1 1 INVESTMENT HIGHLIGHTS 2 2 TRANSACTION STRUCTURE AND BUSINESS PLAN OVERVIEW 3 3 FINAL REMARKS INVESTOR PRESENTATION INVESTOR PRESENTATION September 2026 5
PROVEN MANAGEMENT TEAM Alex Martini Kant Trivedi Aber Whitcomb CEO, Director, Co-Founder COO, Director, Co-Founder Director Alex is the Co-Founder and Chief Executive Officer of Kant is Blockfusion’s co-founder and has served as the Aber is the Founder and Chief Executive Officer of Salt AI, an Blockfusion USA, Inc., a data center company powered by company’s Chief Operations Officer since its inception artificial intelligence technology company. Whitcomb is a clean energy. He is also the Co-Founder and Chief Executive seasoned technology entrepreneur and engineer with a track 20+ years of experience building and managing world-class Officer of Blockfusion’s wholly owned subsidiary, North East record of building and scaling global digital platforms across customer operations within the Tech., Tele., and Financial Data, LLC, a data center property located in Niagara Falls, social networking, gaming, and blockchain infrastructure. Services sectors New York, with 50 MW of installed and operating capacity. He Prior to founding Salt AI, Aber was the Chief Technology has served in these capacities since the companies’ formation Has held several senior leadership positions with Rogers Officer and Co-Founder of Jam City, Inc. (formerly SGN in July 2019 Communications Inc. (TSX: RCI.B NYSE: RCI), where he Games), a leading multi-platform mobile entertainment authored and implemented the Rogers Enterprise Business From 2017 to 2019, Alex was the Co-Founder and Chief company. At Jam City, he oversaw the company’s technology Unit customer operations strategy and led award-winning Executive Officer of Blockfusion Technologies Inc., a Canadian strategy, AI architecture, and infrastructure, enabling the teams responsible for Fixed land-line, mobile, data center, venture backed by private investors focused on developing global operation of its game portfolio and cross-platform colocation, Cloud, and Internet of Things (IoT) supporting data center assets in Canada development. Under his leadership, Jam City became one of revenue growth to over $1.9 billion the most successful mobile game publishers worldwide. An early participant in the blockchain industry, Alex became Kant holds an MBA from Queen’s University. He has been active in the Bitcoin community in 2011 and later organized Earlier in his career, Aber served as Chief Technology Officer involved with such charitable organizations as the United Way the New York City Bitcoin Meetup. In 2015, he was recognized and Co-Founder of MySpace, where he led all engineering and and sits on the board of several public companies by the United Nations Foundation for his contributions to technical operations during the company’s rapid global innovation and social change expansion. His work helped establish MySpace as one of the most significant social networking platforms of the early Prior to his involvement in blockchain and data infrastructure, Internet era. In recognition of his technical leadership, Alex held executive roles in the advertising technology sector, InfoWorld named Whitcomb one of the Top 25 CTOs of 2009. including serving as Chief Strategy Officer of Art of Digital, and earlier worked in the hospitality and live events industry Aber has co-founded and advised multiple ventures at the in New York City intersection of emerging technology and infrastructure. He served on the board of Core Scientific and a Co-Founder of i/o Ventures, an early-stage startup program emphasizing mentorship and founder development. Aber holds a degree from the University of Washington and was born and raised in Bellingham, Washington. INVESTOR PRESENTATION September 2026 6
- INVESTMENT HIGHLIGHTS
BLOCKFUSION: POSITIONED FOR EXPECTED SIGNIFICANT VALUE CREATION Prime facility with available capacity and clear expansion pathway • Site with 50MW energized and in operation today. Expansion path to 300MW+ to meet accelerated cloud and AI-driven demand. Extensive 1 proprietary pipeline of vetted sites across the US and Europe. Executed 15-year anchor lease with CoreWeave provides significant long-term contracted revenue • Definitive agreement for 85MW take-or-pay critical IT load, with expansion framework to 300MW, subject to applicable conditions; • Assuming CoreWeave actives expansion to 85MWs, expected revenues from 85 MWs is approximately $2.8 billion over the initial terms of the lease and expansion lease (approximately $5.4 billion if CoreWeave renews all leases for 25 years total) Diversified capital sources for our HPC/AI transition and campus buildout • CoreWeave contributions, potential Trust retention and Financing Transactions that may accompany the Business Combination • Support execution of the business plan and help mitigate near-term financing risk Low-cost, sustainable energy advantage • Access to low-cost energy offering expected operational efficiency, cost savings, and competitiveness. Sustainable energy is highly desirable to attract ESG-focused clients. AI-native infrastructure • Following the HPC/AI Transition, the Niagara Facility is expected to be equipped to handle next-gen workloads from AI and advanced cloud solutions, intending to ensure long-term relevance in a rapidly evolving market. Proven management team • Led by a highly experienced and visionary leadership team with a track record of successfully scaling data center operations and driving growth Power Credibility Scale Note 1: “Vetted sites” refers to locations that the Company has identified and is reviewing at varying stages of due diligence. “Proprietary” refers to the pipeline of prospective sites itself, which represents a proprietary asset assembled through the Company’s internal sourcing process and business relationships. This pipeline is not generally available to the public or competitors and would be difficult to replicate due to the relationship-driven nature of the site identification and cultivation process. INVESTOR PRESENTATION September 2026 8
THE NIAGARA FACILITY REPRESENTS A STRATEGIC DATA CENTER SITE FOR LOW-LATENCY, HIGH- DENSITY WORKLOADS We believe proximity to major urban hubs positions Blockfusion’s Blockfusion background data center as a top-tier option for latency-sensitive operations. Founded in 2019, Blockfusion is a next-generation data center operator strategically located ~90 miles from Toronto and ~23 miles from Buffalo International Airport— at the heart of a cross-border power and fiber corridor Toronto Boston Blockfusion is developing a 300MW data center campus at its Niagara site, with 50MW energized and operational , expected to deliver 100% clean, zero-carbon 3.68ms 0.98ms power for AI, cloud, and high-density compute Key Highlights: Low-cost, stable power: NYISO 1 Zone-A offers one of North America’s most Blockfusion New York City reliable and cost-efficient power markets, offering expected predictable Facility margins for 24/7 AI workloads 3.18ms 100% clean & emission-free: powered by hydro, nuclear, and renewables near the 2GW Robert Moses Hydroelectric Facility . As part of its long-term Note: Map represents the location of the Blockfusion facility and its distance in milliseconds from major urban areas. Millisecond is the standard unit of measure of the distance in networking latency sustainability strategy, Blockfusion is an anchor subscriber to a 5MW 2 community solar project, advancing renewable integration and reducing Building 1 – Phase 1 regional carbon intensity Proven reliability & prime location: Niagara Falls site achieves near 100% uptime, surrounded by major HPC and semiconductor operators ( Tesla, Yahoo, Micron ) within New York’s SMART I-Corridor innovation hub Scalable campus design: owned and zoned property, reviewing adjacent parcels, potentially enabling campus-scale growth and customer clustering 2-STORY DATA HALL Connectivity & resilience: multiple fiber providers servicing the facility, offering expected continuous operations, carrier diversity, and ultra low- latency network performance Blockfusion combines clean energy, proven reliability, and scalable infrastructure, positioning it as a competitive and sustainable AI data center platform Source: Energy Mark and NYISO Power Trends 2025 - June 2, 2025; Note: 1. NYISO denotes the New York Independent System Operator, which oversees the state’s power system and daily operations to distribute electricity supply; Note 2: Preliminary renderings, which are based on management projections, can be subject to change. Preliminary renderings may not reflect actual results. For illustrative purposes only. INVESTOR PRESENTATION September 2026 9
WHILE POWER CAPACITY IS CONSTRAINED IN MAJOR MARKETS, BLOCKFUSION SITE DELIVERS AVAILABLE CLEAN POWER AT COMPETITIVE RATES Power generation capacity exists today… just not in the right places. Transmission grids globally remain capacity challenged. Near net transmission capacity is the key friction point, especially as renewables become a top priority for utility companies. 2 The challenge NYISO Zone A overview Grid transmission shortfall • Blockfusion facility has reached 100% clean power consumption • All-in power cost including curtailment credits under $0.06/kWh NYISO Zones A-E (Upstate NY) energy production by source – 89% zero emissions 2024 Production GWh Nuclear 27,073 Hydro 25,785 Wind 5,821 Solar 64 The Grid, Other Renewables 731 particularly Gas 6,583 Oil 23 transmission lines Dual fuel (Oil/Gas) 570 and substations Total 66,650 represents a bottleneck as data center capacity expands rapidly 1 3 Blockfusion is developing a 300MW data center campus at its Niagara site Source: DigitalBridge Investor Presentation 2024; Data Journey - Transmission Bottlenecks and The Impact on Data Center Growth; NYISO Power Trends 2025 - June 2, 2025 Note: 1. Illustration reflects management assessment. Note: 2. NYISO denotes the New York Independent System Operator, which oversees the state’s power system and daily operations to distribute electricity supply. 3. Subject to securing additional adjacent parcels, completion of planned construction in accordance with offtaker lease and financing. INVESTOR PRESENTATION September 2026 10
EXECUTED ANCHOR LEASE WITH COREWEAVE UNDERPINS INITIAL CAMPUS BUILD-OUT WITH LONG-TERM CONTRACTED CASH FLOWS North East Data, LLC, a wholly owned subsidiary of Blockfusion, has executed a definitive anchor lease agreement with CoreWeave, Inc., a leading AI cloud-computing provider, for data center capacity at the Company's flagship campus in Niagara Falls, New York 1 Lease Terms ~$2.8bn anticipated revenue 15 Years Lease Term across 85MW — initial 15-year 85MW committed take-or- with two 5-year extension options terms² pay critical IT load¹ ~$5.4bn if all renewal options exercised³ Strategic Significance for Blockfusion Executed 15-year lease with CoreWeave validates Blockfusion's power-rich Niagara Falls campus as a top-tier AI infrastructure destination Expansion Agreement provides a pre-agreed framework for CoreWeave to grow to 300MW of critical IT load; CoreWeave holds first right to each new capacity increment Long-term contracted revenue under executed lease providing multi-year revenue visibility Immediate capital contribution, as part of the agreement, CoreWeave has committed $50 million of capital in non- recurring charge and an incremental $30 million of capital to Blockfusion through the purchase of a warrant Note 1: Comprises 35MW under the executed Lease Agreement and 50MW under the Expansion Agreement with CoreWeave, Inc. Expansion capacity is subject to Blockfusion securing incremental power and satisfaction of applicable conditions precedent, including CoreWeave's approval of the power infrastructure plan. CoreWeave holds the first right to each increment of new capacity up to 300MW total critical IT load. Note 2: Figures are unaudited, forward-looking and subject to numerous assumptions. Actual results may differ materially. See Slides 2–4. Note 3: Reflects two 5-year renewal options exercisable by CoreWeave across 85MW of committed capacity, for a potential total term of 25 years per phase. Subject to CoreWeave's election to exercise renewal options and satisfaction of applicable conditions. No assurance can be given that renewal options will be exercised. INVESTOR PRESENTATION September 2026 11
1 BLOCKFUSION MANAGEMENT FORECASTS – Sept 2026* Net Revenues, $M Revenue and EBITDA Forecasts prepared by Blockfusion Management as of 153 September 2026 which incorporate the following key assumptions: *all years are calendar years 128 Forecasts assume, for modeling purposes, that: • The proposed Business Combination (BC) is consummated in November 2026, resulting in ~$200M proceeds to Blockfusion (from a combination of $100M from PIPE financing transactions and trust retention, 50% redemption level assumed), after satisfaction of estimated transaction expenses and repayment of Blockfusion existing debt and other obligations at closing, which amount is expected to be utilized to carry out initial HPC/AI transition steps while BF winds down Tier 1 47 activities/revenues. • Blockfusion delivers 85MW in phases as outlined in the executed long-term lease, subject to lease terms and satisfaction of conditions precedent, subject to - financing. • HPC/AI transition is executed in accordance with, and on timelines set forth in, 2027 2028 2029 2030 BF Development Plans developed with Gensler, JBB, Tomasetti, taking into account tenant requirements, including execution of “core” engineering, EBITDA, $M construction and facility development, with revenue generation starting in 104 February 2028. • Blockfusion has access to sufficient capital to carry out the BF Development 84 Plans, through combination of proceeds, if any, from BC, customer funding, and additional financing (which, for modeling purposes, is assumed to consist of long- term high-yield debt with terms similar to the terms similar to publicly-available terms of like debt arranged through first tier sources) 2 ; including, without limitation, estimated capex of approximately $920M, excluding expansion/acquisition costs (Est. Tier 3 Niagara CapEx Reqts for 2026 - 2029: 21 $89.4M, $319.3M $441.0 and $70.7M, dropping to est. $1.5M annually thereafter) • Revenues under offtake lease agreement commence upon deployment of initial 25 MWs and increase as new, fully scaled facility comes online and expansions are consummated. (19) • Utilities costs are client pass-throughs; operating costs increase 2% annually (management estimate based on professional experience) 2027 2028 2029 2030 Note 1: Forecasts prepared by BF Management are unaudited, forward-looking, are presented solely for illustrative purposes and incorporate numerous additional assumptions, some or all of which may prove inaccurate. The BF HPC/AI Transition may not be successful or may take longer and cost more than currently predicted and if effectuated, may have less favorable results than Forecasts suggest. Readers are urged not to place undue reliance on Forecasts and to review further information regarding assumptions incorporated therein in the S-4 registration statement to be filed in connection with the Transaction. Forecasts prepared using cash-based forecasting methodology and exclude non-cash items such as depreciation and amortization. See Slide 2-4 for further information regarding forward-looking statements and use of non-GAAP measures. Note 2 – Financing source for HY debt to be identified, actual financing terms may be different from assumptions. INVESTOR PRESENTATION September 2026 12
BLOCKFUSION IS PARTNERING UP WITH BEST-IN CLASS STRATEGIC VENDORS FOR THE HPC/AI TRANSITION THAT FOCUS ON HYPERSCALE DATA CENTER DESIGN AND ENGINEERING Engineering status Strategic HPC/AI Transition Partners Designs, preliminary budgets, and construction timelines have been advanced, including redundancy planning at the utility substation level, which is mission- critical to hyperscale clients, and reduces execution risk Preferred OEMs Note: Preliminary renderings, which are based on management projections, can be subject to change. Preliminary renderings may not reflect actual results. For illustrative purposes only. INVESTOR PRESENTATION September 2026 13
THE NIAGARA FACILITY POST HPC/AI TRANSITION IS DESIGNED TO HOST NEXT GENERATION AI WORKLOADS WITH 200kW+ COMPUTE LOADS PER GPU RACK Aerial: Building 1 – Phase 1 Campus Aerial: Building 1 – Phase 1 Level 1 Design Level 2 Design Note: Preliminary renderings, which are based on management projections, can be subject to change. Preliminary renderings may not reflect actual results. For illustrative purposes only. INVESTOR PRESENTATION September 2026 14
BLOCKFUSION IS PURSUING STRATEGIC LAND ACQUISITIONS TO EXPAND CAMPUS FOOTPRINT, EXPAND SCALABLE DEPLOYMENT TO MEET ANCHOR TENANT DEMAND Blockfusion has entered into an exclusivity agreement with a landowner covering parcels adjacent to the current owned site to support the full scope of the Company’s contemplated campus expansion From Building 1 – Phase 1… …Growing to a Campus with Multiple Buildings in an area 2 of 40 acres (existing site and expansion site) DATA CENTER Strategic Value Creation 1 Will support customer’s demand ramp Enables the transformation of the Niagara Opportunity to maximize value of Capacity expands alongside contracted site into a scalable campus platform power & interconnection position deployment Not a single-site development Grid capacity monetized across phases Creates long-term development pipeline Enhances future financing capacity visibility Enables repeatable project-level financing 2 Pathway to >300 MW+ Note: Preliminary renderings, which are based on management projections, can be subject to change. Preliminary renderings may not reflect actual results. For illustrative purposes only. 1. Capacity expansion supported by the executed Lease Agreement and Expansion Agreement with CoreWeave, Inc. (Nasdaq: CRWV), as further described on Slide 12 and elsewhere in this presentation, subject to Slides 2–4. 2. Subject to consummation of Blockfusion expansion plans, subject to financing and definitive offtake agreements. INVESTOR PRESENTATION September 2026 15
BLOCKFUSION ANTICIPATES A SIGNIFICANT TIME-TO-MARKET ADVANTAGE GIVEN ITS POWER AVAILABILITY 1 Power capacity submitted into the interconnection queue for Wait times keep rising; now ~5 years approval and study has increased every year 3,000 Duration Interconnection Interconnection Commercial Analyzed Request (IR) Agreement (IA) Operations 2,500 80 (COD) 70 25-75th percentile 2,000 Median 60 50 1,500 40 1,000 30 Capacity (GW) (Months) 20 500 Duration IR to COD 10 0 0 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Entered queues in year shown Entered queues in earlier year In-Service Year Source: Lawrence Berkeley National Laboratory, April 2024 2 3 Illustrative conversion timeline: traditional greenfield DC vs. Blockfusion HPC/AI Transition opportunity (years) Site acquisition Development Connection Procurement Traditional greenfield DC Construction Design, Site Pre- Construction Construction Potentially at least 5 yrs time advantage 0 1 2 3 4 5 6 7 Note 1: “Interconnection queue” refers to the formal process by which projects request and await approval to connect to the electric grid, including required technical studies and impact assessments; Note 2: “greenfield project” refers to the development of a new data center facility from the ground up on undeveloped land, requiring complete development of all critical systems and infrastructure; Note 3: HPC/AI transition plan as designed in collaboration with Blockfusion’s strategic partners INVESTOR PRESENTATION September 2026 16
- TRANSACTION STRUCTURE AND BUSINESS PLAN OVERVIEW
(1)(2)(3) TRANSACTION SUMMARY Transaction Highlights Illustrative Pro Forma Valuation Blockfusion is valued at a $450 million pre-money equity value Illustrative Share Price $10.00 Certain existing Blockfusion stockholders may receive up to 15M shares in a post-closing earnout Pro Forma Shares Outstanding 73.0 structure issued ratably at the following share price thresholds: $13.00 per share, $15.00 per share, and $17.00 share Pro Forma Equity Value $729.7 Parties may seek up to $100M of Financing Transaction capital to accelerate Blockfusion’s AI (-) Pro Forma Cash 238.2 transition and support other working capital purposes (2) Existing Blockfusion stockholders will roll 100% of interest into the proforma business Pro Forma Enterprise Value $491.6 Post-Closing Surviving Company will have a dual class voting structure intended to provide decision- making continuity for certain significant Blockfusion stockholders Sources and Uses Illustrative Pro Forma Ownership at Close (50% redemptions BACC trust; excluding Blockfusion earnout) Sources ($M) Uses ($M) Company Security Holder Rollover $450 Company Security Holder Rollover $450 Blue Public (Excluding earnout) 16.5% Blue Cash in Trust (3) 105 Debt Repayment 11 Convertible Note 100 Cash to Balance Sheet 238 Blue Sponsor / Underwriter 10.8% CRWV NRC (4) 50 Estimated Transaction Expenses 16 Blockfusion Rollover Equity CRWV Warrants (5) 10 61.7% Convertible Note Holders 11.0% Total Sources $715 Total Uses $715 Source: Company financials (1) Pubco securities issuable at Closing to Blockfusion security holders will have an aggregate value of $450M, inclusive of options and warrants issuable in respect of Blockfusion rolling options and warrants, excludes the impact of 15.0M earnout shares issued ratably at $13.00 per share, $15.00 per share, and $17.00 share; Assumes 50% redemptions from BACC trust; Includes 12.1M BACC public shares (inclusive of 2.0M shares underlying public rights), 45.0M Blockfusion shares (assuming a $10.00 per share issuance price), 7.1M founder/advisor shares, 8.0M Convertible Note Financing shares assuming $12.50 conversion price; 0.7M Private Placement shares (inclusive of 0.06M shares underlying private rights), and 0.2M underwriter representative shares; Excludes impact of 2.9M CRWV warrants ($7.46 strike) exercisable for cash or cashless. (2) No Financing Transaction capital is committed to date; illustrative terms based on preliminary discussions assuming $100M convertible note financing at $12.50/share. (3) $10.40 trust value per share, as of June 30, 2026; assumes 50% redemptions. Pro forma share calcs based on estimated Exchange Ratio, without taking into account rolling options and warrants; final Exchange Ratio to be determined at closing (4) CRWV NRC payments expected 30 and 60 days post-lease execution, to be used for equipment and other costs in accordance with agreements. (5) $30M contribution in respect of warrants, majority of which has been utilized to pay down BF indebtedness. INVESTOR PRESENTATION September 2026 18
APPENDIX
BLOCKFUSION IS POSITIONED TO TARGET THE FASTEST GROWING SEGMENT OF THE DATA CENTER SECTOR THAT WILL REQUIRE AN INCREMENTAL 120GW+ OF DATA CENTER CAPACITY Target segment 1 “Traditional” trends (core, cloud, other) Artificial intelligence Proliferation of Increasing data Cloud volume Inferencing ML/LLM IT Outsourcing 2 Power required for US Traditional Workloads : 2 Power required for US HPC/AI Workloads : 2024-2035 2024-2035 ~6% ~37% CAGR CAGR Power Infrastructure Power Infrastructure ~53GW ~123GW by 2035 by 2035 Source: Deloitte “Can US infrastructure keep up with the AI economy?” – June 24, 2025 Note 1: Chart is for illustrative purposes only and is not drawn to scale. Note 2. Statistics show how power infrastructure for IT Workloads in the US will evolve by use-case. For example, power infrastructure used for “Traditional” use cases are expected to grow at a CAGR (compounded annual growth rate) of ~6% between 2024 and 2035 to achieve ~50GW by 2035. INVESTOR PRESENTATION September 2026 20
BLOCKFUSION’S HPC/AI TRANSITION PLAN AND KEY ASSUMPTIONS FOR FINANCIAL FORECASTS HPC/AI Transition: operational milestones and timeline Deal closing Lease Agreement Wind-down Tier 1 Operations 25MW 35MW 85MW Site Prep, Design and Engineering 1 Tier 3 – 85MW Development th T0 = September 4 , 2026 2028 Q1 2029 Months Key Assumptions in Deriving the Financial Forecasts Assumed deal closing Rent escalator and cost $10.5mm capex per MW in November 2026 indexation • 3% rent escalator • Reflects the complete white-space • 2% annual cost indexation infrastructure build “up to reflect inflationary to the rack” trends • Inclusive of electrical, mechanical, cooling, and network systems Actual Closing Date may be different. Figures are based on management forecasts and estimates, which are subject to change and may not reflect actual future results; Forecasts reflect terms of lease agreement with CoreWeave. Note 1: Forecasts prepared by Blockfusion management as of September 2026, incorporating numerous assumptions, including as further described on Slide 12. All information subject to the qualifications set forth on Slides 2-4. Actual results may differ. Assumptions include that Blockfusion has access to material amounts of capital, sufficient to satisfy HPC/AI development plan, executes expansion opportunities and completes associated permitting requirement such that the Company completes the HPC/AI transition within management estimates of related costs and timelines, yielding the results management anticipates, as further described on Slide 12. INVESTOR PRESENTATION September 2026 21
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.