Proposed Tenant Prospectus

Capacity, commercial terms and responsibility boundaries

The tenant presentation describes a proposed facility product to develop with an anchor customer and experienced operator. It is not an offer of installed space or a guarantee that the illustrated infrastructure, carriers or support services are already available.

Source basis: September 9, 2026 planning package · Not independently re-underwritten.

6 MW

Proposed repeatable block

24 MW

First-phase IT concept

48 MW

Ultimate IT master plan

Planning data & boundaries

Commercial topic	Proposed discussion position	Evidence required
Anchor requirement	Explore 12-24 MW with expansion in 6 MW blocks	Customer credit, workload, location and timing
Release criterion	At least 80% of first-phase capacity; first block fully committed	Binding credit-supported commitments; owner policy, not a financing rule
Capacity rent	$200 / kW / month; power separate	Scope-matched negotiation, not a signed rate
Initial lease term	10-15 years	Actual escalation, commencement, ramp and remedies
IT and recovery	Tenant-owned unless separately contracted	Clear landlord / operator / tenant responsibilities

Reserved capacity is different from energy use

The proposed model charges for contracted available capacity, subject to acceptance and service terms. Paid leased capacity is not the same thing as real-time server utilization. The model uses 90% paid capacity and a separate 85% average energized IT utilization assumption.

Technical brief before design freeze

The tenant needs to define rack and hall power, equipment/rolling mass, clearances, coolant, temperatures, network interfaces, load steps and growth. Changing workload type after equipment orders can change building, electrical and cooling scope.

Service and acceptance

Define readiness tests, facility availability, maintenance windows, credits, exclusions and remedies in the contracts. Facility availability is not application uptime. Dual A/B paths, a target PUE and an illustrated support team do not establish certified or contracted service.

Credit and pass-through obligations

Align customer security and termination provisions with utility upgrades, minimum charges, collateral and cancellation exposures. Energy pass-through at zero margin still requires billing-lag and default analysis. No named tenant, binding reservation, letter of intent or executed lease is asserted.

EPIC CONSTRUCTION MANAGEMENT LLC