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Cartis diligence evidence schedule

Applied Digital Polaris Forge 1

PRJ-0623 · Site · Ellendale, North Dakota, United States

Record last updated Oct 28, 2026

Scope and capacity

Applied Digital's October 7, 2026 earnings release reports 250 MW of operational critical IT capacity at Polaris Forge 1 as of October 1, comprising its first 100 MW building and second 150 MW building. The third 150 MW building remained under construction; it is not included in the 250 MW operating figure. Applied Digital previously placed the first 50 MW phase of Polaris Forge 1 into service at Ellendale, North Dakota. That historical first phase is part of a fully leased 400 MW critical-IT deployment for CoreWeave, with additional campus construction continuing. Liquid-cooling and near-zero-water design for AI and high-performance computing workloads.

Headline: 400 MW Contracted

Numbers refer to their stated physical boundaries and are not added together. Source dates, claim dates and record updates have different meanings. Missing dates and locators are not inferred.

Location context · Polaris Forge 1 campus | Ellendale | North Dakota | United States

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 55496 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Lifecycle status · Partially operational

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 55497 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Reported capacity · 400 MW

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 55498 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Selected headline

  1. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Capacity basis · Fully leased critical IT deployment; 50 MW delivered at cited milestone

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 55499 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Project identity · Applied Digital Polaris Forge 1

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114527 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Lifecycle status · Operating with expansion underway

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114528 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Location · Ellendale, ND, US

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114529 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Participant roles · Applied Digital, CoreWeave

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114530 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Capacity · 400 MW

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114531 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

Headline treatment: Separate claim, not added to the headline

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Capacity basis · 400 MW contracted critical IT capacity

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114532 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Development scale · 50 MW ready for service; first building designed for 100 MW

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114533 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Infrastructure · Liquid cooling and near zero water design for AI and high performance computing workloads.

Actual · Applied Digital Polaris Forge 1 (Project)

Claim 114534 · Recorded claim type: Actual · Review: Approved · Claim date: Not stated

  1. Applied Digital fiscal 2026 Form 10-K

    Applied Digital · Document date: Jul 30, 2026 · Corroborating

    Source reference: SRC-6198 · Regulatory record · Recorded authority: Official primary

    Source URL

    https://www.sec.gov/Archives/edgar/data/1144879/000114487926000048/apld-20260531.htm

  2. Applied Digital Achieves Ready for Service for Phase 1 at Polaris Forge 1

    Applied Digital · Document date: Oct 27, 2025 · Primary

    Source reference: SRC-2994 · Company announcement · Recorded authority: Party primary

    Source URL

    https://ir.applieddigital.com/news-events/press-releases/detail/133/applied-digital-achieves-ready-for-service-for-phase-1-at

Counterparties and capital

Applied Digital · Developer · CMP-1390

CoreWeave · Tenant · CMP-0099

Commercial contract

$11,000,000,000 · Jul 30, 2026

Long-term contracted revenue associated with the 400 MW CoreWeave deployment.

Anthropic (Sponsor)

Sources (2)

Financing record 216; claim-specific source links appear in the exhibit sources where published.

This schedule captures public Cartis research. It is not a title, lien or legal-opinion report. Document page/section locators and claim review timestamps are included only when published; this version has no separate locator or claim-review-time feed.