Slide 1: Second Quarter 2026 Earnings Presentation
Second Quarter 2026 Earnings Presentation August 17, 2026 Christopher Miglino Chief Executive Officer Jeremy Yaukey-Witter Chief Financial Officer Kyle Okamoto President NASDAQ: AGPU · www.axecompute.com · Filmed on location at an Axe Build data center
Slide 2: Important Disclosures
Important Disclosures Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding signed contracted value, anticipated customer prepayments, d
Slide 3: Company Overview
THE COMPANY · CHRISTOPHER MIGLINO, CEO Company Overview Axe Compute (Nasdaq: AGPU) is a neocloud AI infrastructure platform providing enterprises and AI innovators with dedicated compute across two growth engines: Axe Build and Axe Access. Build Access Primary Growth Engine Complementary Recurring S
Slide 4: A generational build-out.
THE MARKET · CHRISTOPHER MIGLINO, CEO A generational build-out. $6.7T $5.2T 75% Data center investment Of that, investment attributable to New capacity pre-leased needed by 2030 (McKinsey) AI-capable capacity (McKinsey) before it is built (CBRE) Sources: McKinsey & Company, "The cost of compute" (Ap
Slide 5: Execution and momentum.
DELIVERY UPDATE · CHRISTOPHER MIGLINO, CEO Execution and momentum. STATUS OF LANDMARK $260M Q2 ANNOUNCED IN JULY, SUBSEQUENT TO CONTRACT SIGNED QUARTER END Landmark cluster data center is being built. 2026 TCV, surpassing the $1B goal for 2,304 NVIDIA B300s currently being installed. $3B+ new custom
Slide 6: The economics of Build contracts.
BUILD PROGRAM ECONOMICS · CHRISTOPHER MIGLINO, CEO The economics of Build contracts. Modeled across signed Build contracts — illustrative and forward-looking. 28-44% 62-76% ESTIMATED CONTRACT GROSS MARGIN ESTIMATED CONTRACT EBITDA MARGIN Estimated Contract Gross Margin refers to Estimated Contract E
Slide 7: Funding the build.
HOW A BUILD IS FINANCED · CHRISTOPHER MIGLINO, CEO Funding the build. Illustrative capital stack for a Build contract, as a share of total project cost — not guidance. 20-40% 60-80% CUSTOMER PREPAYMENTS PROJECT FINANCING Received at or shortly after signing The company is evaluating alternatives inc
Slide 8: Today's Announcements
TODAY’S ANNOUNCEMENTS · CHRISTOPHER MIGLINO, CEO Announcing today: prepayment received, capacity expanding. ANNOUNCEMENT 2: SECURED FROM ANNOUNCEMENT 1: CUSTOMER PREPAYMENTS DUOS TECHNOLOGIES $317M+ 55 MW Received for $1.3B cluster build. Equipment Partnership to develop AI data center capacity purc
Slide 9: Financial Update
SECTION TWO Financial Update Jeremy Yaukey-Witter · Chief Financial Officer Q2 2026 results
Slide 10: Summary Condensed Financial Statements
Q2 2026 FINANCIALS · JEREMY YAUKEY-WITTER, CFO Summary Condensed Financial Statements Three and Six Months Ended June 30, 2026 Summary Balance Sheet (Unaudited) June 30, 2026 Summary Statements of Net Loss 3 Months Ended 6 Months Ended ASSETS (Unaudited) June 30, 2026 June 30, 2026 Cash and cash equ
Slide 11: Adjusted EBITDA Reconciliation
Q2 2026 RESULTS · JEREMY YAUKEY-WITTER, CFO Adjusted EBITDA Reconciliation Three and Six Months Ended June 30, 2026 (Unaudited) - Reconciliation of Net Loss to Adjusted EBITDA Reconciliation Item (in USD ‘000s) Three Months Ended June 30, 2026 Net Loss from Continuing Operations $(17,206) Net Intere
Slide 12: When Build deployments are expected to convert to revenue
Q2 2026 TCV AND ARR · JEREMY YAUKEY-WITTER, CFO When Build deployments are expected to convert to revenue Revenue recognition trails contract signing; when each phase is expected to convert. Q2 2026 - ADDED TCV Q3 2026 TO DATE - ADDED TCV YTD THRU AUG 15, 2026 - ADDED TCV $317M $2.9B+ $3.2B+ First f
Slide 13: Business Update
S E C T I O N THREE Business Update Kyle Okamoto · President Technology, Qualified Pipeline, Organization
Slide 14: Building across the globe.
GLOBAL FOOTPRINT · KYLE OKAMOTO, PRESIDENT Building across the globe. Axe Build data centers in delivery and development across the U.S., including Georgia, and Sweden. RACK ROWS READY FOR DEDICATED POWER GPU RACKS IN BUILD GPU DEPLOYMENT INFRASTRUCTURE TAKEAWAY One Build program, one high quality s
Slide 15: Inside an Axe Compute cluster.
THE TECHNOLOGY · KYLE OKAMOTO, PRESIDENT Inside an Axe Compute cluster. GPUz NVIDIA B300, 8 GPUs per node; or NVIDIA GB300 NVL72, 288GB HBM3e each Rack High-density air-cooled, liquid-cooled or DLC racks (64-155kVa/rack) Fabric NVIDIA Quantum-X800 InfiniBand, 6.4 Tbps per node (B300) or 57.6 Tbps pe
Slide 16: A qualified pipeline behind the signed book.
PIPELINE SNAPSHOT · KYLE OKAMOTO, PRESIDENT A qualified pipeline behind the signed book. $5.9B 98 75% 35.2 mo Pipeline contract value Qualified prospects, Share of pipeline Average proposed for qualified deals customer vetting specifying NVIDIA contract term across complete Blackwell-class GPUs qual
Slide 17: Scaling business to meet market demands.
ORGANIZATION · KYLE OKAMOTO, PRESIDENT Scaling business to meet market demands. DEPLOYMENT & OPERATIONS Additional data center engineers, cluster commissioning, and 24/7 operations for the builds going live in Q3 and Q4, including dedicated VP-level deployment leadership. 20+ TEAM MEMBERS INFRASTRUC
Slide 18: The next $2 billion.
WHERE WE ARE GOING · CHRISTOPHER MIGLINO, CEO The next $2 billion. Our objective: an additional $2 billion in signed contracts before the end of 2026 WHY IT IS CREDIBLE ON THE SAME TERMS WHAT IT MEANS A $6.2B qualified pipeline behind Take-or-pay, multi-year, prepaid. Contracts signed in the back ha
Slide 19: From contracts to revenue.
From contracts to revenue. The largest contracts in company history are moving into build. ir@axecompute.com · axecompute.com · NASDAQ: AGPU
Slide 20: Second Quarter 2026 Earnings Presentation
Second Quarter 2026 Earnings Presentation August 17, 2026 NASDAQ: AGPU · www.axecompute.com · Filmed on location at an Axe Build data center