Nextdc Limited · ASX:NXT
Nextdc — Investor Presentation (April 2026)
59 slides from Nextdc's investor presentation, Apr 20, 2026
Slide 1: Record Contracted Utilisation and A$2.2bn Capital Plan
NEXTDC Limited ABN 35 143 582 521 NEXTDC Limited ABN 35 143 582 521 Record Contracted Utilisation and A$2.2bn Capital Plan 20 April 2026 1 NEXTDC © Copyright 2026 | 2026 Entitlement Offer NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES
Slide 2: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER This investor presentation is dated 20 April 2026 (this “Presentation”) and has been prepared by NEXTDC Limited (ACN 143 582 521) (“NEXTDC” or the “Company”) in connection with its proposed fully underwritten 1 for 5.4 pro-rata accelerated non-renounceable entitlement
Slide 3: Contents
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL OFFER RESTRICTIONS 3 NEXTDC © Copyright 2026 | 2026 Entitlement Offer
Slide 4: Investment Summary – Transformational Business Update
INVESTMENT SUMMARY – TRANSFORMATIONAL BUSINESS UPDATE Transformational increase in Structural step change in market Accelerating the development contracted utilisation demand Contracted EBITDA3 of S4 • A very significant increase in • AI is intensifying both the scale • Pro forma Forward Order Book
Slide 5: Investment Summary – Funding and Entitlement Offer
INVESTMENT SUMMARY – FUNDING AND ENTITLEMENT OFFER Entitlement Offer Hybrid Securities Offer & La Caisse Commitment Liquidity and use of proceeds • 1 for 5.4 pro-rata accelerated non-renounceable • Building on the Hybrid Securities Offer1 • Forecast capex to 30 June 2027 is fully funded entitlement
Slide 6: Accelerating Customer Demand Relative to Market Capacity
ACCELERATING CUSTOMER DEMAND RELATIVE TO MARKET CAPACITY A structural step change in market demand and a material shortfall in near-term supply is driving a need for accelerated capacity delivery. NEXTDC is uniquely positioned as a trusted operator with shovel-ready projects and access to capital to
Slide 7: A Step Change in Contracted Utilisation
A STEP CHANGE IN CONTRACTED UTILISATION Customers are increasingly choosing operators like NEXTDC that pair a proven operating track record with the ability to deliver new capacity quickly, reliably and at scale FY26 has been a standout year, delivering unprecedented growth in NEXTDC’s contracted ut
Slide 8: 544MW Forward Order Book – Conversion Pathway
544MW FORWARD ORDER BOOK – CONVERSION PATHWAY NEXTDC’s pro forma Forward Order Book of 544MW1 as at 31 March 2026 is expected to progressively convert to billing utilisation, revenue and EBITDA over FY26–FY30 Conversion of the pro forma Forward Order Book to billing utilisation (MW) Billing utilisat
Slide 9: Contracted EBITDA Exceeds A$1.0 Billion
CONTRACTED EBITDA EXCEEDS A$1.0 BILLION NEXTDC’s pro forma Forward Order Book as at 31 March 2026 combined with the Company’s existing billing utilisation, is expected to generate EBITDA in excess of A$1.0bn from existing contracted utilisation Contracted EBITDA2 (A$m) FY26 capital expenditure guida
Slide 10: Well Capitalised for Growth
WELL CAPITALISED FOR GROWTH NEXTDC is expected to have pro forma liquidity (cash and undrawn facilities) of ~A$5.9bn following the Hybrid Securities Offer and Entitlement Offer Balance sheet summary and key metrics (A$m) Indicative liquidity position as at 30 June 2026PF Entitlement Hybrid 2HFY26 30
Slide 11: Sources and Uses – 18 Months to 30 June 2027E
SOURCES AND USES – 18 MONTHS TO 30 JUNE 2027E Forecast capex to 30 June 2027 is fully funded from existing liquidity, Hybrid Securities Offer (supported by La Caisse’s aggregate A$1.7bn in binding commitments) and this Entitlement Offer, with additional capital initiatives1 being advanced to provide
Slide 12: Multiple Pathways to Fund Growth
MULTIPLE PATHWAYS TO FUND GROWTH NEXTDC has multiple additional capital initiatives1 underway to fund growth. The anticipated material growth in earnings (as contracted utilisation converts to billing utilisation) alongside the use of subordinated capital (i.e. equity, Hybrid Securities, Wholesale N
Slide 13: Delivering Value from S4 & S7
DELIVERING VALUE FROM S4 & S7 The 250MW contracted utilisation at S4 announced today marks a material crystallisation of value and advances the pathway to a JVCo capital partnership over time. Shareholder value is expected to be maximised through capital partnerships with third-party investors once
Slide 14: Hyperscale Development Projects
HYPERSCALE DEVELOPMENT PROJECTS S4 and M3 represent the largest sites under development, with an aggregate 435MW currently under construction at these sites Sydney sites1 Melbourne sites S4 SYDNEY M2 MELBOURNE Total power planned ~350MW Total power planned ~120MW+ Initial capacity ~250MW in progress
Slide 15: S4 Sydney
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL S4 SYDNEY OFFER RESTRICTIONS 15 NEXTDC © Copyright 2026 | 2026 Entitl
Slide 16: Entitlement Offer Summary
ENTITLEMENT OFFER SUMMARY • 1 for 5.4 pro-rata accelerated non-renounceable Entitlement Offer to raise ~A$1.5bn Offer Size & Structure • ~118.7m New Shares expected to be issued under the Entitlement Offer, equivalent to ~18.5% of existing NEXTDC Shares on issue • Offer price of A$12.70 per New Shar
Slide 17: Entitlement Offer Timetable
ENTITLEMENT OFFER TIMETABLE Event Date / Time Trading halt and announcement of Entitlement Offer Monday, 20 April 2026 Announcement of results of Institutional Entitlement Offer Wednesday, 22 April 2026 Trading halt lifted and NEXTDC Shares recommence trading Wednesday, 22 April 2026 Entitlement Off
Slide 18: M3 Melbourne
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL M3 MELBOURNE OFFER RESTRICTIONS 18 NEXTDC © Copyright 2026 | 2026 Ent
Slide 19: Glossary
GLOSSARY 1H First half of the financial year Means the additional offer of hybrid securities by NEXTDC on the terms Delayed Draw described in the ASX announcement titled ‘Record Contracted 2H Second half of the financial year Series Utilisation and A$2.2bn Capital Plan’ dated 20 April 2026 A$ / AUD
Slide 20: Glossary (cont.)
GLOSSARY (CONT.) FY[•]A Financial year actual The proposed Western Sydney capital partnership structure through FY[•]E Financial year estimate JVCo which NEXTDC intends to partner with third-party private capital investors across the S4 and S7 sites Net debt / (net debt + equity) based on book value
Slide 21: Glossary (cont.)
GLOSSARY (CONT.) Shareholder A holder of Shares TBD To be determined The theoretical price at which NEXTDC shares should trade immediately following the ex-date for the Entitlement Offer. TERP is calculated by reference to NEXTDC’s closing price of A$14.12 on 17 April 2026, being the last trading da
Slide 22: Contents
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL OFFER RESTRICTIONS 22 NEXTDC © Copyright 2026 | 2026 Entitlement Offe
Slide 23: Important Notice and Disclaimer
IMPORTANT NOTICE AND DISCLAIMER IMPORTANT NOTICE AND DISCLAIMER The following Important Notice and Disclaimer applies to this Presentation, and you are therefore advised to read this carefully before reading or making any other use of this Presentation or any information contained in this Presentati
Slide 24: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) SUMMARY INFORMATION This Presentation contains summary information about the current activities of NEXTDC and its subsidiaries (“NEXTDC Group”) as at the date of this Presentation. The information in this Presentation is of a general nature and is provided for
Slide 25: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) INFORMATION AND LIABILITY To the maximum extent permitted by law and except to the extent caused by its fraud, gross negligence or wilful misconduct (or that of its employees, officers, agents or contractors), each member of the NEXTDC Group and each of their
Slide 26: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) INFORMATION AND LIABILITY (CONT.) • your existing holding (if any) will be estimated by reference to NEXTDC’s beneficial register on Wednesday, 22 April 2026 which shows historical holdings as at that date and may not be up to date. There will be no verificati
Slide 27: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) FORWARD-LOOKING STATEMENTS This Presentation contains certain forward-looking statements, including “forward looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 (the "U.S. Securities Act"), Section 21E of the United States
Slide 28: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) FORWARD-LOOKING STATEMENTS (CONT.) The forward-looking statements are based on information available to NEXTDC as at the date of this Presentation. No member of the NEXTDC Group, any of the Joint Lead Managers nor any of their respective Beneficiaries or any o
Slide 29: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) FINANCIAL INFORMATION The historical financial information in this Presentation is presented in an abbreviated form insofar as it does not reflect or include all of the presentation and disclosure requirements of the Australian Accounting Standards (“AAS”) and
Slide 30: Important Notice and Disclaimer (cont.)
IMPORTANT NOTICE AND DISCLAIMER (CONT.) INVESTMENT RISK An investment in New Shares is subject to investment risks and other known and unknown risks, some of which are beyond the control of NEXTDC, including possible loss of income and principal invested. NEXTDC does not guarantee any particular rat
Slide 31: Contents
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL OFFER RESTRICTIONS 31 NEXTDC © Copyright 2026 | 2026 Entitlement Offe
Slide 32: Key Risks
KEY RISKS This section discusses some of the key risks associated with an investment in NEXTDC, together with risks relating to participating in the Entitlement Offer and should not be taken as an exhaustive list of all of the risks associated with NEXTDC and its business, or an investment in NEXTDC
Slide 33: Key Risks (cont.)
KEY RISKS (CONT.) Although NEXTDC has implemented a range of measures to mitigate the risk of data centre and system interruptions or outages, these safeguards may prove insufficient in some circumstances. Accordingly, no assurance can be given that NEXTDC’s risk management measures, including inter
Slide 34: Key Risks (cont.)
KEY RISKS (CONT.) • non-performance or breach of contract by contractors or sub-contractors, impacting timeline and cost exposures; Development of • obligations to pay penalties or liquidated damages to customers for the late delivery of data centre capacity; and data centres • the availability of p
Slide 35: Key Risks (cont.)
KEY RISKS (CONT.) NEXTDC and its customers rely on third-party providers for the ongoing supply of utilities to its data centres (including water and diesel fuel). There is no guarantee that the relevant third-party suppliers will continue their business with NEXTDC in the future or be able to consi
Slide 36: Key Risks (cont.)
KEY RISKS (CONT.) There is also a risk that NEXTDC may fail to fully or adequately understand, comply with or account for, differing laws, regulations and business customs in international jurisdictions (including new or existing tariff requirements), which can increase operational risks for compani
Slide 37: Key Risks (cont.)
KEY RISKS (CONT.) A key driver of the success of NEXTDC’s business is its ability to retain and grow existing customer relationships and develop new customer relationships. There is no guarantee that these relationships will continue or, if they do continue, that these relationships will be successf
Slide 38: Key Risks (cont.)
KEY RISKS (CONT.) An increasing use of self-built data centres has the potential to reduce demand for data centre services from third party providers such as NEXTDC. There is also a risk that NEXTDC may compete less effectively against its competitors in the future, causing it to lose market share a
Slide 39: Key Risks (cont.)
KEY RISKS (CONT.) The occurrence of such security breaches or incidents, or the perception that one has occurred, could also result in a loss of customer confidence in the security of NEXTDC’s data centres or damage to the NEXTDC brand and NEXTDC’s reputation, reduce the demand for NEXTDC’s data cen
Slide 40: Key Risks (cont.)
KEY RISKS (CONT.) Operational risk includes the risk of loss resulting from inadequate or failed internal processes, people or systems (including security and information security systems), or from external events. The operation of NEXTDC’s data centres is reliant on the technical and operational re
Slide 41: Key Risks (cont.)
KEY RISKS (CONT.) NEXTDC must comply with a range of laws, regulations and industry standards in each jurisdiction in which it operates including, but not limited to, privacy laws, fair trade laws, anti-bribery and corruption legislation, sanctions legislation, consumer protection laws, employment l
Slide 42: Key Risks (cont.)
KEY RISKS (CONT.) The environmental impact of data centres has recently been a focus of governments and regulators, leading to the introduction of new legislation in relation to energy usage and a carbon reduction scheme. Global environmental regulations are expected to continue to change and evolve
Slide 43: Key Risks (cont.)
KEY RISKS (CONT.) NEXTDC’s reputation may be impacted by the conduct of NEXTDC, its directors, employees or shareholders, or other third parties, including business partners, technology providers, and customers, as well as by unforeseen issues or events. Any deterioration in NEXTDC’s reputation coul
Slide 44: Key Risks (cont.)
KEY RISKS (CONT.) Investments in equity capital carry general risks. The trading price of NEXTDC’s securities on ASX may fluctuate in line with broader market movements or in response to specific circumstances, which may result in the market price being higher or lower than the Offer Price (as appli
Slide 45: Key Risks (cont.)
KEY RISKS (CONT.) Non-participation As the Entitlement Offer is non-renounceable, entitlements under the Entitlement Offer cannot be traded on ASX or otherwise transferred. If NEXTDC’s in the Entitlement shareholders are ineligible to participate in the Entitlement Offer, choose not to participate i
Slide 46: Key Risks (cont.)
KEY RISKS (CONT.) Any alteration to the current company income tax rate, or any other change to tax laws, compliance obligations or administrative practice in jurisdictions where NEXTDC or its customers operate that impacts NEXTDC, or the data centre or information technology sector more broadly, co
Slide 47: Key Risks (cont.)
KEY RISKS (CONT.) NEXTDC’s ability to refinance its debt on terms acceptable to it at a relevant time in the future, its ability to raise further debt finance on reasonable terms for its business and to pursue opportunities, and its borrowing costs will depend on its relationships with lenders, the
Slide 48: Contents
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL OFFER RESTRICTIONS 48 NEXTDC © Copyright 2026 | 2026 Entitlement Offe
Slide 49: Summary of the Underwriting Agreement
SUMMARY OF THE UNDERWRITING AGREEMENT NEXTDC has entered into an underwriting agreement with the Joint Lead Managers (“Underwriting Agreement”) pursuant to which the Joint Lead Managers have been appointed to act as the joint lead managers, bookrunners and underwriters of the Entitlement Offer and h
Slide 50: Summary of the Underwriting Agreement (cont.)
SUMMARY OF THE UNDERWRITING AGREEMENT (CONT.) • (insolvency) NEXTDC or one of its material subsidiaries becomes insolvent or there is an act or omission which may result in NEXTDC or one of its material subsidiaries becoming insolvent; • (prosecution) any director of NEXTDC or the Chief Executive Of
Slide 51: Summary of the Underwriting Agreement (cont.)
SUMMARY OF THE UNDERWRITING AGREEMENT (CONT.) • (change of law)* there is introduced, or there is a public announcement of a proposal to introduce, into the Parliament of Australia or any State or Territory of Australia a new law, or the Reserve Bank of Australia, or any Commonwealth or State or Ter
Slide 52: Summary of the Underwriting Agreement (cont.)
SUMMARY OF THE UNDERWRITING AGREEMENT (CONT.) The ability of a Joint Lead Manager to terminate the Underwriting Agreement in respect of some of the events marked with an (*) above will depend on whether, in the reasonable opinion of that Joint Lead Manager, the event has had, or could reasonably be
Slide 53: Contents
CONTENTS TRANSFORMATIONAL BUSINESS UPDATE AND FUNDING ENTITLEMENT OFFER DETAILS GLOSSARY APPENDIX A: IMPORTANT NOTICE AND DISCLAIMER APPENDIX B: KEY RISKS APPENDIX C: SUMMARY OF THE UNDERWRITING AGREEMENT APPENDIX D: INTERNATIONAL OFFER RESTRICTIONS 53 NEXTDC © Copyright 2026 | 2026 Entitlement Offe
Slide 54: International Offer Restrictions
INTERNATIONAL OFFER RESTRICTIONS This Presentation does not constitute an offer of New Shares in NEXTDC in any jurisdiction in which it would be unlawful. In particular, this Presentation may not be distributed to any person, and the New Shares may not be offered or sold, in any country outside Aust
Slide 55: International Offer Restrictions (cont.)
INTERNATIONAL OFFER RESTRICTIONS (CONT.) Canada (British Columbia, Ontario and Quebec provinces) (cont.) Certain Canadian income tax considerations. Prospective purchasers of New Shares should consult their own tax adviser with respect to any taxes payable in connection with the acquisition, holding
Slide 56: International Offer Restrictions (cont.)
INTERNATIONAL OFFER RESTRICTIONS (CONT.) Hong Kong (cont.) The contents of this Presentation have not been reviewed by any Hong Kong regulatory authority. You are advised to exercise caution in relation to the offer. If you are in doubt about any contents of this Presentation, you should obtain inde
Slide 57: International Offer Restrictions (cont.)
INTERNATIONAL OFFER RESTRICTIONS (CONT.) Singapore This Presentation and any other materials relating to the New Shares have not been, and will not be, lodged or registered as a prospectus in Singapore with the Monetary Authority of Singapore. Accordingly, this Presentation and any other document or
Slide 58: International Offer Restrictions (cont.)
INTERNATIONAL OFFER RESTRICTIONS (CONT.) United Arab Emirates (cont.) No offer of New Shares will be made to, and no subscription for New Shares will be permitted from, any person in the Abu Dhabi Global Market or the Dubai International Financial Centre. United Kingdom This Presentation has not bee
Slide 59: Powering the Intelligence Economy
Powering the Intelligence Economy