Core Scientific, Inc. · NASDAQ:CORZ
Core Scientific — Q3 2026 Earnings Presentation
16 slides from Core Scientific's earnings presentation, Nov 5, 2026
Slide 1: Third Quarter 2026 Earnings Call
Third Quarter 2026 Earnings Call November 5, 2026 1
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). Forward-looking statements ma
Slide 3: Core Scientific Overview
Core Scientific Overview Core Scientific is a leader in digital infrastructure for high-density colocation (“HDC”), operating dedicated, purpose-built facilities designed to support artificial intelligence (“AI”) and other compute- intensive workloads. $6.5B 7 STATES ~1.1 GW $24B+ FULLY DILUTED ACRO
Slide 4: Over 1 GW of Capacity Contracted
Over 1 GW of Capacity Contracted Average annual recurring GAAP revenue of $1.8B generates $1.6B of annual NOI, with over 50% of cash flows backed by investment-grade credit CORE WE AVE AMD + CRE DIT - B A CKE D NE OCLOU D 590 MW 530 MW LEASED POWER LEASED POWER Denton, TX 260 MW Pecos, TX* 185 MW Da
Slide 5: AMD Reservation & Additional Power Pipeline
AMD Reservation & Additional Power Pipeline Reserved critical IT spans secured grid power, utility load studies and behind-the-meter solutions POWER PATHWAYS UNDER AMD RESERVATION SECURED GRID-CONNECTED POWER UNDER LOAD STUDY BEHIND-THE-METER 1 2 3 ~385 MW ~600 MW ~940 MW Power secured through exist
Slide 6: Initial delivery for AMD is expected in early 2027
Initial delivery for AMD is expected in early 2027 With the full 530 MW delivered by the end of 2028 1H 2027 2H 2027 1H 2028 Pecos, TX Auburn, AL Muskogee, OK Dalton, GA Hunt County, TX Est. 1H 2027 initial delivery Est. 1H 2027 initial delivery Est. 2H 2027 initial delivery Est. 2H 2027 initial del
Slide 7: Investment Highlights
Investment Highlights Established expertise Attractive business model Demand & growth visibility 150+ years of combined Colocation contracts $24B+ contracted data center leadership deliver compelling capacity, ~$1.8B average experience economics and strong annualized colocation margins GAAP revenue
Slide 8: CoreWeave Relationship Overview
CoreWeave Relationship Overview 8
Slide 9: Nearing full completion of the CoreWeave buildout
Nearing full completion of the CoreWeave buildout Site MW Leased Status MW Billing Substantially Denton, TX ~260 MW ~260 complete Est. completion Dalton, GA ~175 MW ~75 early 2027 Muskogee, OK ~70 MW ~70 Marble, NC ~65 MW ~65 Austin, TX ~20 MW ~20 Total ~590 MW Early 2027 ~485 MW* 9 completion *Tota
Slide 10: CoreWeave Contract Summary
CoreWeave Contract Summary 12-year contract No ability to unilaterally ~590MW infrastructure with two 5-year options 3 terminate, with aligned joint ~800MW gross execution risk $10B+ in revenue Take-or-pay contract potential over the contracts’ at a fixed cost, with annual term escalator ~$850M aver
Slide 11: CoreWeave Cash and GAAP Revenue Timing
CoreWeave Cash and GAAP Revenue Timing Capex credits drive the early gap; straight-line accounting sets the GAAP revenue profile CAPEX CREDIT PERIOD POST-CREDIT PERIOD $1,200M C $1,000M B $800M $600M A $400M $200M $0M 1 2 3 4 5 6 7 8 9 10 11 12 Lease year Cash revenue GAAP revenue A EARLY LEASE YEAR
Slide 12: Appendix
Appendix 12
Slide 13: Term Library
Term Library Term Definition How management uses it Total electric utility power capacity agreements associated with our data Gross Utility Power Capacity (MW) center sites under our control as of period end, including capacity that is Used for portfolio planning and utility power allocation discuss
Slide 14: Colocation Revenue & Billing MW Progression
Colocation Revenue & Billing MW Progression 485 395 225 120 4Q25 1Q26 2Q26 3Q26 Billing MW Data presented in MW $215.4 $136.7 $77.5 $31.3 4Q25 1Q26 2Q26 3Q26 14 Colocation revenue Data presented in $M
Slide 15: Pro Forma Share Count as of November 2, 2026
Pro Forma Share Count as of November 2, 2026 Million shares ~186M shares 28 509 42 16 95 6 322 Tranche 1 Warrants Restricted Stock and December 2024 Performance Based Units Convertible Note Sharecount Tranche 2 Warrants August 2024 Total Pro Forma @ November 2, 2026 Convertible Note Diluted Share Co
Slide 16: Contact
Contact [email protected] 16