PRESS RELEASE / IR RELEASE

Northern Data AG considers change to a more transparent stock exchange listing as of H2 2021
 

• Northern Data is on track to become the largest specialized HPC data center provider globally
• Discussions with further acquisition targets which could be acquired via cash and/or issuance of new shares

Frankfurt am Main - April 12, 2021 - Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading infrastructure supplier for Bitcoin mining and other HPC data center solutions, is considering a change to a more transparent stock exchange listing, presumably on NASDAQ, in H2 2021. This is intended to facilitate investor access to the company, increase transparency and reflect Northern Data's successful development as a high-tech company. The Executive Board has therefore decided today to examine a possible up-listing and to prepare the necessary next steps.

Considerations of an up-listing start just a few days after announcing the sale of the Texas site - just one out of 7 sites currently in operation - with total proceeds of around EUR 550 million, putting the Company in a strong financial position to pursue its strategic goals.

CEO Aroosh Thillainathan comments: "We are on track to become the largest specialized HPC data center provider globally and cover all areas of HPC. With our ASICs sites, we are already one of the leading outsourcing partners for the booming Bitcoin mining industry. At the same time, Northern Data is currently developing one of the world's largest GPU-based distributed computing clusters for HPC applications, working with renowned partners such as Gigabyte and AMD. The cluster is expected to handle HPC tasks for customers in areas such as artificial intelligence, deep learning, and streaming or rendering movies."

With its remaining 6 sites and customer base including Blockchain powerhouse Block.One, Northern Data can fully maintain its EBITDA outlook for 2021 of EUR 100 million to EUR 125 million even after the complete deconsolidation of the Texas site. The EBITDA forecast excludes all one-off effects from the transaction and all effects from the current fiscal year of the Texas site.

Fiscal year 2020 results are expected to be published within the next weeks, for the first time under IFRS standard and with KPMG as auditor. Northern Data will also start to publish quarterly financial results in FY2021.

In order to meet the exponentially growing demand from both Bitcoin mining and GPU clients alike, 8 further sites are being developed - in addition to the six sites currently in operation - with a targeted start of operation in the course of 2021. Additionally, Northern Data is in discussions with further acquisition targets which could be acquired via cash and/or issuance of shares.

Aroosh Thillainathan comments: "All Northern Data sites stand out by time to market of just 2-4 months, data sovereignty principles and tier 3 DC standards. However, I am most proud of all our sustainability attributes such as renewable energy usage of >90% in all new sites. We are building a platform, based on renewable energies, enabling our clients to be fully compliant with ESG standards."

This quality and sustainability leadership allows Northern Data to charge both fix base remunerations and profit share agreements with its clients. Hence, Northern Data directly participates in rising Bitcoin prices. For the years ahead, management expects exponential growth both in revenues and earnings.

About Northern Data:
Northern Data AG develops and operates global infrastructure solutions in the field of High-Performance Computing (HPC). With its customer-specific solutions, the company provides the infrastructure for various HPC applications in areas such as bitcoin mining, artificial intelligence, blockchain, big data analytics, IoT or rendering. The internationally active is today a leading provider of HPC solutions worldwide. Northern Data offers its HPC solutions both in large, stationary data centers and in mobile high-tech data centers that can be set up at any location worldwide. The company combines self-developed software and hardware with intelligent concepts for a sustainable energy supply. The Northern Data group currently employs around 200 people.

Investor Relations:
Jens-Philipp Briemle
Head of Investor Relations
An der Welle 3
60322 Frankfurt am Main
E-Mail: [email protected]
Phone: +49 171 557 6989

Important notice:
This announcement does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.