Cordiant Digital Infrastructure Limited · LSE:CORD
Cordiant Digital Infrastructure — Investor Day (March 2025)
81 slides from Cordiant Digital Infrastructure's investor day presentation, Mar 25, 2025
Slide 1: Capital Markets Day
Cordiant Digital Infrastructure Limited Capital Markets Day TUESDAY 25 MARCH 2025 Strictly private & confidential cordiantdigitaltrust.com
Slide 2: Wi-Fi Access Details
Wi-Fi ACCESS DETAILS QR code link to this presentation: 2. Connect to: NumisGuest page 3 Pin: 26051999 page 5 cordiantdigitaltrust.com/investors/circulars-documents/ Strictly private & confidential cordiantdigitaltrust.com 2
Slide 3: Disclaimer
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations. This presentation has been issued by and is the sole re
Slide 4: Introduction & Agenda
INTRODUCTION & AGENDA Steven Marshall page 3 Executive Chairman, Cordiant Digital Infrastructure Management Benn Mikula Managing Partner & CEO, Cordiant Capital Strictly private & confidential cordiantdigitaltrust.com 4
Slide 5: Agenda | Contents & speakers
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Agenda | Contents & speakers 13:00 | Introduction Steven Marshall, Benn Mikula 13:10 | Corporate governance Shonaid Jemmett-Page 13:20 | Strategy: Buy, Build & Grow Steven Marshall, Benn Mikula 13:35 | Key financial
Slide 6: Corporate Governance
CORPORATE GOVERNANCE Shonaid Jemmett-Page, FCA 2. page 3 Chairman, Cordiant Digital Infrastructure Limited page 5 Strictly private & confidential cordiantdigitaltrust.com 6
Slide 7: Corporate governance | The Board acts to promote the long-term success of CORD
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Corporate governance | The Board acts to promote the long-term success of CORD Board’s duties ▪ Hold the Investment Manager to account on behalf of shareholders and other stakeholders Shareholders ▪ Act in the long-
Slide 8: Corporate governance | Strong foundations and active involvement
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Corporate governance | Strong foundations and active involvement Experienced and independent board of directors A group of independent, robust individuals with a wide range of relevant experience, who can both chall
Slide 9: Corporate governance | Structured system to performing duties
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Corporate governance | Structured system to performing duties Regularly scheduled Board Acquisitions and Disposals | Capital Allocation | Discount Management | Financial meetings, 4x per year & ad-hoc Results | ESG
Slide 10: Corporate governance | Active engagement and interaction
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Corporate governance | Active engagement and interaction CORD and its Board formally communicates with shareholders in In addition, the Investment Manager: several ways: ▪ Regulatory News Service (RNS) for material
Slide 11: Strategy: Buy, Build & Grow
STRATEGY: BUY, BUILD & GROW Steven Marshall 3. Executive Chairman, Cordiant Digital Infrastructure Management Benn Mikula Managing Partner & CEO, Cordiant Capital Strictly private & confidential cordiantdigitaltrust.com 11
Slide 12: Strategy | Our vision
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | Our vision What is CORD? What is CORD doing? Strategic priorities Acquiring a diversified portfolio of Deploy capital to build new A specialist digital infrastructure assets in UK, Europe and North infras
Slide 13: Strategy | CORD's mandate
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | CORD’s mandate Investment strategy Invest in digital Core Plus infrastructure Hands-on value approach: enabling the Blue chip creation by a expand high- digital economy, UK, Europe customers + Inflation t
Slide 14: Strategy | Data centre portfolio has more than doubled following the DCU acquisition
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | Data centre portfolio has more than doubled following the DCU acquisition Towers, fibre and internet Towers, data centres, Fibre-optic New York interconnect Broadcast and Data centre of things (IoT) fibre
Slide 15: Strategy | CORD's 4-year milestones
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | CORD’s 4-year milestones £795m Dividend guidance increased to Dividend guidance increased to Emitel Speed Fibre Belgian Tower €375m BT Ireland raised in equity acquired acquired Company refinancing bolt-o
Slide 16: Strategy | A portfolio with scale and attractive financial metrics
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | A portfolio with scale and attractive financial metrics £952.4m £321.8m £153.3m Net asset value as of 30 September Revenue for the 12 months to 31 EBITDA for the 12 months to 31 2024 December 2024 Decembe
Slide 17: Strategy | A focus on adding value
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | A focus on adding value Traditional infrastructure investing (indicative) Cordiant Digital Infrastructure – Buy, Build & Grow strategy (Core Plus and Value Add, indicative) …driven by a unique marriage of
Slide 18: Strategy | Buy, Build & Grow in action during the financial year ending 31 March 2025
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | Buy, Build & Grow in action during the financial year ending 31 March 2025 Buy Build Grow 13.3x Data centre growth 13.6% EV/EBITDA multiple of investment in DCU Invest Expansion of a data centre at one of
Slide 19: Strategy | Key priorities for the next financial year
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Strategy | Key priorities for the next financial year 1 2 3 Take advantage of expansion Continue development of Attract anchor tenants for the opportunities at DCU to leading independent mobile 26MW DC Zbraslav in P
Slide 20: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS 4. Andrew Ewe, CFA Chief Financial Officer, Cordiant Digital Infrastructure Management page 21 Strictly private & confidential cordiantdigitaltrust.com 20
Slide 21: Financial highlights | Strong Q3 trading update with continued growth in portfolio earnings
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Strong Q3 trading update with continued growth in portfolio earnings +9.6% Revenue growth YoY YTD Q3 FY25 +13.6% EBITDA growth YoY YTD Q3 FY25 Dividend covered 4.8x by EBITDA 4.8x/1.8x 1.8x by
Slide 22: Financial highlights | Prior investments supporting growth in portfolio companies
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Prior investments supporting growth in portfolio companies +10.1% Revenue growth YoY YTD Q3 FY25 +18.0% Revenue growth YoY YTD Q3 FY25 +16.3% EBITDA growth YoY YTD Q3 FY25 +14.9% EBITDA growth
Slide 23: Financial highlights | Consistent and sustainable growth in NAV and dividends since IPO
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Consistent and sustainable growth in NAV and dividends since IPO 11% annualised NAV total return since IPO1 Progressive dividend policy, ahead of IPO plan 124.4 4.0p 4.2p 4.2p 120.1 3.5p 3.0p
Slide 24: Financial highlights | Revenue mix has diversified since full deployment of IPO proceeds
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Revenue mix has diversified since full deployment of IPO proceeds Revenue diversification by sub-sector between Sep-22 and Dec-241 ▪ Backbone fibre will be the largest sub-sector after 14% clo
Slide 25: Financial highlights | Balanced approach to capital allocation providing dividend and NAV growth
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Balanced approach to capital allocation providing dividend and NAV growth Bolt-ons1 £76m £71m Growth capex3 RTTS Irish Fibre Business 19% ▪ New data centres and data halls ▪ New mobile towers
Slide 26: Financial highlights | Meaningful dry powder available to support Buy, Build & Grow
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Meaningful dry powder available to support Buy, Build & Grow Total pro forma portfolio liquidity No material debt maturities until Weighted average facility margin £211.7m1 June 2029 2.9% Fina
Slide 27: Financial highlights | Buy, Build & Grow underpinning income and capital growth for shareholders
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Financial highlights | Buy, Build & Grow underpinning income and capital growth for shareholders 1 2 3 Consistent and sustainable Further diversification of the Continued robust revenue and growth in NAV and dividen
Slide 28: Building a Fibre Business in Ireland
BUILDING A FIBRE BUSINESS IN IRELAND David Kippen 5. 3. Managing Director, Cordiant Digital Infrastructure Management page 28 Peter McCarthy Chief Executive Officer, Speed Fibre Group Strictly private & confidential cordiantdigitaltrust.com 28
Slide 29: Fibre | Backbone fibre is now a bedrock of the portfolio
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Backbone fibre is now a bedrock of the portfolio and underpins growth in the digital ecosystem CORD’s backbone fibre portfolio Backbone fibre 11,764km 6,372 represents 37% total pro forma of fibre optic netw
Slide 30: Fibre | Ireland, a high-growth, digitally driven economy (1 / 2)
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Ireland, a high-growth, digitally driven economy (1 / 2) Speed Fibre Group’s proposition as an access aggregator benefits from a strong macro backdrop… Real GDP growth forecasts Large enterprises in Ireland
Slide 31: Fibre | Ireland, a high-growth, digitally driven economy (2 / 2)
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Ireland, a high-growth, digitally driven economy (2 / 2) …with digital contingent tailwinds driving favourable outlook for connectivity TAM Irish fixed broadband by medium Irish cloud services volumes Total
Slide 32: Fibre | Speed Fibre Group overview
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Speed Fibre Group overview Speed Fibre Group’s Nationwide Coverage Overview Revenue Gross margin EBITDA2 LTM Sep-24 c. €87.2m c. €48.2m c. €23.4m Share of 2024 Gross Margin 34% 37% 2% 27% National Backhaul N
Slide 33: Fibre | Business transformation achievements since 2018
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Business transformation achievements since 2018 Three-pillared re-orientation strategy Material improvements to key performance metrics Improvements to since 2018 1 People 3 Performance New sales Churn rate
Slide 34: Fibre | Fibre's dynamic evolution
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Fibre’s dynamic evolution Since inception, the fibre industry has remained in a dynamic state of change, characterised by a developing market structure; new products and services of increasing utility to end
Slide 35: Fibre | SFG's evolution of service capabilities to address market demand trends
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | SFG’s evolution of service capabilities to address market demand trends Ireland - digital networks market growth SFG ongoing initiatives… drivers Rising demand for high-capacity fibre: Traffic volumes growin
Slide 36: Fibre | Driving efficiency & automation enabling autonomous networks
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Driving efficiency & automation - enabling autonomous networks for scalable growth Standardised product Uniform network Automated Batch portfolio topology provisioning & NOC expansion Unified specs, 80% poin
Slide 37: Fibre | Acquisition of BT Communications Ireland Limited (BTCIL)
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | Acquisition of BT Communications Ireland Limited (“BTCIL”) for EV €22m1 The combination of Speed Fibre with BTCIL forms a platform with improved scale and network characteristics. …with long-tail of blue-chi
Slide 38: Fibre | SFG conclusion
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Fibre | SFG conclusion 1 2 3 Broad fixed-asset base Nationwide presence in a Exceptional management servicing 7,000+ high quality critical nexus of European team demonstrating wholesale and B2B technology and connec
Slide 39: Q&A
Q&A 6. page 42 Strictly private & confidential cordiantdigitaltrust.com 39
Slide 40: Coffee Break
COFFEE BREAK 7. page 43 Strictly private & confidential cordiantdigitaltrust.com 40
Slide 41: Growing and Sustaining a Broadcast Infrastructure Business
GROWING AND SUSTAINING A BROADCAST INFRASTRUCTURE BUSINESS 8. page 44 Steven Marshall Executive Chairman, Cordiant Digital Infrastructure Management Strictly private & confidential cordiantdigitaltrust.com 41
Slide 42: Broadcast | CORD owns #1 broadcast infrastructure providers in Poland and the Czech Republic
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | CORD owns #1 broadcast infrastructure providers in Poland and the Czech Republic CORD’s communications tower portfolio 1,442 Broadcast infrastructure 28% TV broadcast Towers used for mobile, radio & TV,
Slide 43: Broadcast | CRA and Emitel are developing and expanding DAB+ national radio networks
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | CRA and Emitel are developing and expanding DAB+ national radio networks Outlook Daily hours of radio listening in selected EU countries, 20211 • Governments in Poland and Czech Republic have just alloca
Slide 44: Broadcast | Customer growth and contract extensions supporting DTT businesses
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | Customer growth and contract extensions supporting the CORD’s DTT businesses Outlook remains strong Investing, signing contracts and driving value • DTT is Free and widely cherished – even in the UK • DT
Slide 45: Broadcast | New technologies will continue driving customer revenues and functionality
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | New technologies will continue to driving customer revenues and functionality DVB-T2 & HEVC Improvements in compression technology to create capacity for additional channels Additional TV & radio MUXes,
Slide 46: Broadcast | 5G broadcast is expected to provide an additional source of growth
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | 5G broadcast is expected to provide an additional source of growth What is 5G broadcast? Minutes per day spent watching TV versus mobiles watching video1 ▪ Introduction: Emerging technology that delivers
Slide 47: Broadcast | New investments and initiatives have led to increased revenues
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | New investments and initiatives have led to increased revenues and reinvestment in other areas Portfolio revenues1 from broadcast are reducing proportionally… Strong broadcast FCF has also led to diversi
Slide 48: Broadcast | Conclusion
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Broadcast | Conclusion 1 2 3 Governments / WRC continue to Broadcast in Poland / Czech is Strong demand is driving increased allocate spectrum for broadcast, strong and growing, with 10-year cost of advertising, imp
Slide 49: Panel: The Future of Broadcast Infrastructure
PANEL: THE FUTURE OF BROADCAST INFRASTRUCTURE Host Alessandro Ravagnolo Analysys Mason Steven Marshall Kevin Moroney Executive Chairman, Cordiant Digital Head of Broadcast (Strategy), Cordiant Infrastructure Management Digital Infrastructure Management Strictly private & confidential cordiantdigital
Slide 50: Coffee Break
COFFEE BREAK 10. page 49 Strictly private & confidential cordiantdigitaltrust.com 50
Slide 51: Development of a Mobile Tower Portfolio
DEVELOPMENT OF A MOBILE TOWER PORTFOLIO Hagai Shilo Managing Director, Cordiant Digital Infrastructure Management page 28 50 Maciej Pilipczuk Chief Executive Officer, Emitel Strictly private & confidential cordiantdigitaltrust.com 51
Slide 52: Mobile towers | A fast expanding platform with build-to-suit programmes
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | A fast expanding platform with build-to-suit programmes underway with MNOs CORD’s communications tower portfolio 1,442 Mobile towers represent 11% Towers used for mobile, radio & TV, total pro forma
Slide 53: Mobile towers | Emitel has grown its portfolio by 27% since the entrance of CORD
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | Emitel has grown its portfolio by 27% since the entrance of CORD Emitel’s tower1 portfolio development Emitel has a key focus on growing its mobile tower platform in line with 1 CORD’s Buy, Build & G
Slide 54: Mobile towers | Poland is a mature market with four MNOs
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | Poland is a mature market with four MNOs, Play being the market leader Market share, 2023 Population coverage, 2024 Others 3.3% T-Mobile Play 19.7% 30.1% 2G: >96% 2G: 99.8% 2G: >99% 2G: 99.6% 3G: >96
Slide 55: Mobile towers | 5G is set to increase coverage to >95% in Poland
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | 5G is set to increase coverage to >95% in Poland Data transmission has been growing at a CAGR of 27.4% in last 3 years and is 5G coverage, all MNOs, 2023 EOY 1 expected to speed up together with 5G S
Slide 56: Mobile towers | Poland's 5G network roll-out is fuelling infrastructure development
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | Poland’s 5G network roll-out is fuelling network infrastructure development Roadmap 5G development plans ▪ In October 2023, the Office of Electronic Communication (UKE) awarded 5G frequencies (3,400-
Slide 57: Mobile towers | Polish MNOs expected to further develop network
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | Polish MNOs expected to further develop network, with TowerCos providing infrastructure Total number of sites (estimated), 2024 Total number of PoPs in the market, by MNO, ’000 Other 500 3.8 39.6 35.
Slide 58: Mobile towers | Emitel sees potential to double its tower infrastructure within 5 years
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | Emitel sees potential to double its tower infrastructure within the next 5 years Significant growth potential through organic new builds and acquisitions with continuous improvement in tenancy Circa
Slide 59: Mobile towers | CRA operates a Czech nationwide tower portfolio
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | CRA operates a Czech nationwide tower portfolio The portfolio consists of over 650 sites, of which 442 are used for its three main business lines TV, radio and mobile CRA’s usage overlap map CRA site
Slide 60: Mobile towers | CRA's Czech tower business
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | CRA’s Czech tower business 650 sites 1,363 PoPs Avg ARPU CZK 33k (£1.1k) Tenancy Ratio 2.1x CAGR1 2.2% CAGR1 7.1% MNO ARPU NON-MNO ARPU Strong revenue CZK37k (£1.2k) CZK30k (£1k) growth CAGR1 4.5% CA
Slide 61: Mobile towers | European private tower market valuation remains robust
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | European private tower market valuation remains robust – multiples of 20x+ Strategic Infra/PE EV (€m) | ▪ European tower market continues to EV/LTM EBITDA provide investor with investment opportuniti
Slide 62: Mobile towers | Conclusion
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Mobile towers | Conclusion CORD’s communication tower portfolio continues to grow and generates good revenue growth, high margin and strong cash conversion The read across from private market tower ▪ In Poland, Emit
Slide 63: Q&A
Q&A 6. page 42 Strictly private & confidential cordiantdigitaltrust.com 63
Slide 64: Building a Data Center Business from Scratch
BUILDING A DATA CENTER BUSINESS FROM SCRATCH 11. 13. 5. 3. Miloš Mastník Chief Executive Officer, CRA page 28 50 Hagai Shilo Managing Director, Cordiant Digital Infrastructure Management Strictly private & confidential cordiantdigitaltrust.com 64
Slide 65: Data centres | A fast growing segment for CORD with exciting expansion opportunities
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | A fast growing segment for CORD with exciting expansion opportunities CORD’s data centre portfolio Data centres Data centres and 22 31.3 represent 14% total pro forma cloud 14% Data centres MW of data
Slide 66: Data centres | Building a leading data centre & cloud platform
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Building a leading data centre & cloud (“DCC”) platform 2010: 2012: 2020: 2022: 2024: 2025: Launch of cloud services New data centre DC Žižkov DC Strahov opened Board approval to start feasibility Acq
Slide 67: Data centres | CRA data centre platform
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | CRA data centre platform Portfolio DC Žižkov, 2012 8 622 Racks DC Ostrava, 2018 Data Centres1 DC Strahov, 2020 DC Pardubice, 2018 73% Utilised DC Zbraslav, 2026 100% Uptime 3.4 MW Tier III, high SLA,
Slide 68: Data centres | DCC growth since acquisition
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | DCC growth since acquisition CRA DCC revenue since Cordiant’s acquisition CZK m ▪ In the past three and half years since the acquisition by Cordiant, CRA has accelerated its investment in DCC, pursuin
Slide 69: Data centres | Europe data centre markets – expansion beyond The Big 5
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Europe data centre markets – expansion beyond The Big 5 Tier 2 & 3 markets, such as Prague, offer significant potential with strong demand characteristics and capacity constraints in FLAP-D Developmen
Slide 70: Data centres | Strong demand forecast to still be in its infancy
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Strong demand (even excluding AI) forecast to still be in its infancy Total data centre colocation demand 2022 Evolution of data centre colocation demand Megawatts (MW) Megawatts (MW) 2,951 26% 27% 25
Slide 71: Data centres | CRA data centre expansion progress over time
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | CRA data centre expansion progress over time Racks occupied Amount of power used # of racks Megawatts (MW) 450 1.75 CAGR +22.9% CAGR +14.5% 1.50 400 1.25 350 1.00 300 0.75 0.50 250 0.25 200 0.00 CRA D
Slide 72: Data centres | Prague is Czechia's main data centre hub
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Prague is Czechia’s main data centre hub, with c. 70% of total demand Overview of data-centre hubs in Czechia Total colocation demand in Prague Prague is the economic hub (39% of Ostrava is the third
Slide 73: Data centres | Key growth initiative: DC Zbraslav
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Key growth initiative: DC Zbraslav ▪ DC Zbraslav is the largest data centre development in Czech Republic on the outskirts of Prague with up to 2,500 racks and 26MW power supply ▪ The proposed site of
Slide 74: Data centres | Strong economic growth = further cloud adoption
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Strong economic growth = further cloud adoption in CZ and other tier 2/3 regions Item Key considerations Growth expected to Real GDP growth of 2-3% CAGR expected in the next 5 years, this is despite a
Slide 75: Data centres | Czech cloud market expected to grow by 15% CAGR
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Czech cloud market expected to grow by 15% CAGR in 2027 Market size for cloud in Czechia, split by public/private (2018-27, CZKbn) “Czech and Slovak businesses rely on their IT Forecast ▪ Public cloud
Slide 76: Data centres | CRA cloud platform
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | CRA cloud platform CRA C4C Combined Day 1 ▪ 150+ Customers ▪ 300+ Customers 450+ Customers ▪ 160+ servers ▪ 200+ servers 360+ servers ▪ 3,400+ VMs ▪ 3,700+ VMs 7,000+ VMs ▪ CZK108m revenue, Mar 24 ▪ C
Slide 77: Data centres | Conclusion
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Data centres | Conclusion The Czech data centre and cloud markets presents excellent growth opportunities for players who already Excellent market conditions have a leading position in the marketplace CRA is also lo
Slide 78: Panel: Data Centres, the Digital Economy and AI
PANEL: DATA CENTRES, THE DIGITAL ECONOMY AND AI 14. page 79 Host Miloš Mastník Brian Burns Chief Executive Officer, CRA Strategy& (PwC) Benn Mikula Atul Roy Managing Partner & CEO, Head of Telecoms Strategy, Cordiant Capital Cordiant Digital Infrastructure Management Strictly private & confidential
Slide 79: Closing Remarks
CLOSING REMARKS 15. page 80 Strictly private & confidential cordiantdigitaltrust.com 79
Slide 80: Appendix | Glossary
C O R D I A N T D I G I T A L I N F R A S T R U C T U R E | Capital Markets Day 2025 Appendix | Glossary AIC Association of Investment Companies ARPU Average revenues per user – ARPU per PoP (see below) is used to estimate the revenue generating capacity of individual sites (towers) CAGR Compound An
Slide 81: Thank You
THANK YOU If you have any queries, please do not hesitate to get in touch INVESTMENT MANAGER Cordiant Capital Inc., Suite 2800, 1002 Sherbrooke, St. W, Montreal, QC, H3A 3L6. Canada +1 (0) 514-286-1142 CordiantDigitalTrust@cordiantcap.com MEDIA / PR Philip Dennis / Ali AlQahtani Celicourt Communicat
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