Keel Infrastructure Corp. 10-K

Item 2. Properties. The following table summarizes our principal owned and leased properties as of March 27, 2026. These sites are used to host our HPC data centers. Location Energized Capacity Property Information Canada Farnham, Québec, Canada 10 MW Leased Saint-Hyacinthe, Québec, Canada 15 MW Leased Cowansville, Québec, Canada 17 MW Leased Baie-Comeau, Québec, Canada 22 MW Leased Magog, Québec, Canada 10 MW Leased Bunker, Sherbrooke, Québec, Canada 48 MW Leased Leger, Sherbrooke, Québec, Canada 30 MW Leased Garlock, Sherbrooke, Québec, Canada 18 MW Leased United States Sharon, Pennsylvania, United States 30 MW Leased/Owned (1) Panther Creek, Pennsylvania, United States 60 MW Owned Scrubgrass, Pennsylvania, United States 63 MW Owned Moses Lake, Washington, United States 18 MW Owned (1) In October 2025, the Company acquired the property it was leasing in Sharon, Pennsylvania, from the landlord for a total consideration of $38.7 million consisting of $5.0 million in cash and $33.7 million worth of the Company’s shares as at the date of the close. This resulted in the issuance of 8,500,000 shares of the Company to the seller. Following the termination of the long-term lease agreement for the site, the Company anticipates average annual rent savings of $1.8 million for each of the remaining years In addition, in January 2026, we entered into a lease for an approximately 9,000 square feet space in New York at Equitable Life Building, 120 Broadway, Suite 1075, New York, NY, 10004 that we intend to use as our corporate headquarters post U.S. Redomiciliation. We maintain offices in New York City (New York, U.S.), Toronto (Ontario, Canada), Brossard (Québec, Canada) and Pittsburgh (Pennsylvania, U.S.). We established our New York City office in 2025 as part of our U.S. Redomiciliation efforts and institutional positioning, and this office will be our principal executive office upon our U.S. Redomiciliation. We believe our existing facilities are sufficient for our current needs. In the future, we may reassess our existing facilities or add new facilities as we further expand our operations. We believe suitable space will be available on commercially reasonable terms to meet our future needs.