Core Scientific, Inc. · NASDAQ:CORZ
Core Scientific — Q1 2026 Earnings Presentation
17 slides from Core Scientific's earnings presentation, May 6, 2026
Slide 1: First Quarter Fiscal 2026 Earnings Call
First Quarter Fiscal 2026 Earnings Call May 6, 2026 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). Forward-looking statements ma
Slide 3: Core Scientific Overview
Core Scientific Overview Core Scientific is a leader in digital infrastructure for high-density colocation (“HDC”) services. We operate dedicated, purpose-built facilities for high-density colocation services serving artificial intelligence-related (“AI”) workloads and are a premier provider of digi
Slide 4: Integrated Colocation Platform
Site & Infrastructure Access Delivery & Build Execution Operations & Scalable Growth Find & Secure Sites Design & Engineer Operate & Maintain 1 5 8 Identify, evaluate, and secure Translate customer requirements Operate and maintain sites with available power, strong into tailored designs that keep i
Slide 5: Over 1 GW of Announced Leasable Power Capacity
Over 1 GW of Announced Leasable Power Capacity contracted sites Customer leasable sites* Denton, TX Muskogee, OK Leased power: ~260MW Leasable power: ~330MW 1 Dalton, GA Hunt County, TX Leased power: ~175MW Leasable power: ~285MW Muskogee, OK Pecos, TX Leased power: ~70MW Leasable power: ~200MW Marb
Slide 6: Total Leasable Power Pipeline
Total Leasable Power Pipeline* Our current power pipeline includes ~4.5 GWs of gross utility power capacity, equating to ~3.0 GWs of customer leasable power potential, including anticipated behind-the-meter power ~600 MW ~3.0 GW ~900 MW ~2.4 GW LEASABLE CUSTOMER POWER EXPANSION OPPORTUNITY CURRENTLY
Slide 7: Investment Highlights
Investment Highlights Established expertise Attractive business model Demand & growth visibility 150+ years of combined Colocation contracts deliver 12-year, $10B+ CoreWeave data center leadership compelling economics and contract, ~$850M average experience strong margins annualized colocation GAAP
Slide 8: Pecos, TX & Muskogee, OK Planned Expansions
Pecos, TX & Muskogee, OK Planned Expansions Pecos, TX Anticipated Power Details ~300 MW + ~300 MW + Behind-the-Meter = ~1.5 GW CURRENT AVAILABLE ADDITIONAL GRID- TOTAL GROSS POWER POWER CONNECTED UTILITY CAPACITY POTENTIAL POWER 1 Muskogee, OK Anticipated Power Details ~100 MW + ~440 MW + Behind-the
Slide 9: Behind-the-Meter
Behind-the-Meter Key site attributes Natural gas source Land Air permit area Friendly regulatory environment Timing ~24 months to come online, generally faster than waiting for grid-interconnection queues Cost Does not greatly impact cost / MW, PPA structured deals mitigate the capital required to b
Slide 10: Financing and CapEx Overview
Financing and CapEx Overview Recently Secured Financing Illustrative Uses of Proceeds Senior Secured Notes Net Proceeds: ~$2.9B $3.3B New Site Acquisitions: ($700–900M) Rate Due Net Proceeds1 2026 capex2 7.750% 2031 ~$2.9B ~$2B Remaining Development Equity: ~$2.0–2.2B Leveraged at 80% project financ
Slide 11: CoreWeave Relationship Overview
CoreWeave Relationship Overview 11
Slide 12: CoreWeave is contracted for ~590 MW of leased customer power capacity
CoreWeave is contracted for ~590 MW of leased customer power capacity across 5 of our sites Denton, TX Leased power: ~260MW Full completion on track for midyear Dalton, GA Leased power: ~175MW Delivered Phase 1, a 30 MW site. Full completion on track for early 2027 Muskogee, OK Leased power: ~70MW O
Slide 13: Contract Summary
Contract Summary 12-year contract No ability to unilaterally ~590MW infrastructure with two 5-year options 3 terminate, with aligned joint ~800MW gross execution risk $10B+ in revenue potential Take-or-pay contract over the contracts’ term at a fixed cost, with annual escalator ~$850M average Client
Slide 14: Appendix
Appendix 14
Slide 15: Term Library
Term Library Term Definition How management uses it Total electric utility power capacity agreements associated with our data Gross Utility Power Capacity (MW) center sites under our control as of period end, including capacity that is Used for portfolio planning and utility power allocation discuss
Slide 16: Pro Forma Share Count as of May 1, 2026
Pro Forma Share Count as of May 1, 2026 Million shares ~187M shares 28 505 42 13 97 7 318 Sharecount Tranche 1 Warrants Tranche 2 Warrants Restricted Stock and August 2024 December 2024 Total Pro Forma @ May 1, 2026 Performance Based Units Convertible Note Convertible Note Diluted Share Count 16
Slide 17: Contact
Contact ir@corescientific.com 17