Other Information
−Removed: Not applicable.
+Added: Base Electron Power Purchase Agreement
+Added: On October 4, 2026, the Company entered into a Power Purchase Agreement and a related credit support agreement with Base Electron for the purchase of capacity and energy from an approximately 1,200 MW natural gas-fired generation facility to be developed by Base Electron in Center, North Dakota, which is intended to provide dedicated generation for the Company's Polaris Forge 3 campus.
+Added: The Power Purchase Agreement has a 15-year delivery term and provides for fixed monthly payments based on target contract capacity, and may be terminated by Base Electron if financial close for the facility has not occurred by March 31, 2027.
+Added: The Power Purchase Agreement and the credit support agreement were approved by the Company's Board of Directors following review and recommendation by the Board's Base Electron Related Party Transaction Committee.
+Added: As of October 4, 2026, the Company owned approximately 10% of Base Electron.
+Added: Base Electron is an independent power producer formed for the purpose of developing and operating dedicated power generation infrastructure for high-density AI data center campuses.
+Added: It is owned and managed by certain officers and directors of the Company, including Messrs.
+Added: Cummins and Zhang and Dr.
+Added: Nottenburg, acting in their individual capacities, as well as numerous third parties.
+Added: In addition, Messrs.
+Added: Cummins and Zhang serve as the Chief Executive Officer, and President and Secretary of Base Electron, respectively.
EXHIBIT INDEX
Exhibit Number Description of Document
−Removed: 4.1 Indenture, dated as of March 1 0, 202 6 , among APLD ComputeCo 2 L LC , the Subsidiary Guarantors as defined therein and Wilmington Trust, National Association, as trustee and collateral agent, relating to the 6.7 50% senior secured notes (Incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on March 10, 2026 ).
+Added: 4.1 Indenture, dated as of June 16, 2026, among APLD ComputeCo 3 LLC, APLD HPC Holdings 2 LLC, the Subsidiary Guarantors as defined therein and Wilmington Trust, National Association, as trustee and collateral agent, relating to the 7.000% senior secured notes.
+Added: (Incorporated by reference to Exhibit 4.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 16, 2026).
4.2 Form of Note representing the 7.000% Senior Secured Notes due 2031 (included as Exhibit A to Exhibit 4.1).
−Removed: Fourth Amendment to Preferred Equity Purchase Agreement, dated October 21, 2025, by and between the Company and the investors signatory thereto (Incorporated by re ference to Exhibit 10.1 to the Company ’ s Current Report on Form 8-K filed with the SEC on October 21, 2025) .
−Removed: 10.2^† Promissory Note, dated December 18, 2025, issued by APLD DevCo LLC and payable to Macquarie Equipment Capital, Inc.
−Removed: (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on December 22, 2025) .
−Removed: 10.3† Parent Guarantee, dated December 18, 2025, issued by Applied Digital Corporation in favor of Macquarie Equipment Capital, Inc.
−Removed: (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on December 22, 2025) .
−Removed: 10.4^† Guarantee and Collateral Agreement, dated December 18, 2025, by APLD DevCo LLC, APLD Intermediate HoldCo LLC, and the other Grantors defined therein in favor of Macquarie Equipment Capital, Inc.
−Removed: (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the SEC on December 22, 2025) .
−Removed: Performance Stock Unit Award, dated January 6, 2026, by and between Applied Digital Corporation and Wes Cummins (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K f iled with the SEC on January 8, 2026).
−Removed: Restricted Stock Unit Award, dated January 6, 2026, by and between Applied Digital Corporation and Wes Cummins (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K f iled with the SEC on January 8, 2026).
−Removed: 10.7# Amendment No.
−Removed: 1 , effective as of January 14, 2026, to the Employment Agreement, dated August 1, 2025, by and between Applied Digit al Corporation and Jason Zhang (Incorporated by reference to Exhibit 10.1 to the Company ’ s Current Report on Form 8-K filed with the SEC on Jan uary 16, 202 6) .
−Removed: 10.8# Performance Stock Unit Award, dated February 6, 2026, by and between Applied Digital Corporation and Jason Zhang (Incorporated by reference to Exhibit 10.1 to the Company ’ s Current Report on Form 8-K filed with the SEC on February 9, 2026) .
−Removed: 10.9# Performance Stock Unit Award, dated February 6, 2026, by and between Applied Digital Corporation and Saidal Mohmand (Incorporated by reference to Exhibit 10.
−Removed: 2 to the Company’s Current Report on Form 8-K filed with the SEC on February 9, 2026) .
−Removed: 10.10# Restricted Stock Unit Award, dated February 6, 2026, by and between Applied Digital Corporation and Jason Zhang (Incorporated by reference to Exhibit 10.
−Removed: 3 to the Company’s Current Report on Form 8-K filed with the SEC on February 9, 2026) .
−Removed: 10.11# Restricted Stock Unit Award, dated February 6, 2026, by and between Applied Digital Corporation and Saidal Mohmand (Incorporated by reference to Exhibit 10.
−Removed: 4 to the Company’s Current Report on Form 8-K filed with the SEC on February 9, 2026) .
−Removed: Contribution and Exchange Agreement, dated February 15, 2026, by and among Ekso Bionics Holdings, Inc., APLD ChronoScale Holdco LLC, APLD Intermediate Holdco LLC, and Applied Digital Cloud Corporation (Incorporated by reference to Exhibit 10.1 to the Comp any ’ s Current Report on Form 8-K filed with the SEC on February 17, 2026) .
−Removed: 10.13 Form of Investor Rights Agreement by and between ChronoScale Corporation and APLD ChronoScale Holdco LLC ( Incorporated by reference to Exhibit 10.
−Removed: 2 to the Company’s Current Report on Form 8-K filed with the SEC on February 17, 2026) .
−Removed: 10.14 Guarantee, dated February 26, 2026, by Applied Digital Corporation in favor of the Babcock & Wilcox Company (Incorporated by reference to Exhibit 10.1 to the Company ’ s Current Report on Form 8-K filed with the SEC on March 4, 2026).
−Removed: 10.15# Amended and Restated Performance Stock Unit Award , by and between Applied Digital Corporation and Jason Zhang (Incorporated by reference to the Exhibit 10.1 to the Company ’ s Current Report on Form 8-K/A filed with the SEC on March 13, 202 6).
−Removed: 10.16* Amendment No.
−Removed: 1, effective as of February 24, 2026, to the Promissory Note, dated December 18, 2025, issued by APLD DevCo LLC and payable to Macquarie Equipment Capital, Inc.
−Removed: Unconditional Springing Guaranty of Payment and Performance, dated March 30, 2026, by and between APLD ELN-02 LLC and CoreWeave, Inc.
−Removed: (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on April 1, 2026) .
−Removed: Unconditional Springing Guaranty of Payment and Performance, dated March 30, 2026, by and between APLD ELN-03 LLC and CoreWeave, Inc.
−Removed: (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on April 1, 2026).
−Removed: Assignment, Assumption and Consent, dated March 30, 2026, by and among APLD ELN-03 LLC, CoreWeave, Inc.
−Removed: and CoreWeave Compute Acquisition Co.
−Removed: (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the SEC on April 1, 2026).
+Added: (Incorporated by reference to Exhibit 4.2 to the Company’s Current Report on Form 8-K filed with the SEC on June 16, 2026).
+Added: 10.1† Credit Agreement, dated as of May 29, 2026, by and between Applied Digital Corporation, APLD Intermediate Holdco LLC, the lenders party thereto, First National Bank of Omaha and Goldman Sachs Lending Partners LLC.
+Added: (Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the SEC on June 26, 2026).
+Added: Incremental Assumption Agreement No.
+Added: 1, dated as of June 26, 2026, by and among Applied Digital Corporation, APLD Intermediate Holdco LLC, the Subsidiary Guarantors, lenders and each issuing bank party thereto, and First National Bank of Omaha.
+Added: (Incorporated by reference to Exhibit 10.2 to the Company’s Current Report on Form 8-K filed with the SEC on June 26, 2026).
+Added: Form of Sixth Amendment to Preferred Equity Purchase Agreement by and between the Company and the investors signatory thereto.
+Added: (Incorporated by reference to Exhibit 10.3 to the Company’s Current Report on Form 8-K filed with the SEC on June 26, 2026).
31.1* Chief Executive Officer’s Certificate Pursuant to 15 U.S.C.
18 unchanged sentences
† Portions of this exhibit have been omitted pursuant to Item 601(b)(10)(iv) of Regulation S-K.
−Removed: # Management compensatory agreement.
−Removed: Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Dallas, Texas on April 8, 2026.
+Added: Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Dallas, Texas on October 7, 2026.
APPLIED DIGITAL CORPORATION
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.