Floating data centre: Positioned, not yet proven

Research evidence excerpt

Floating data centre: Positioned, not yet proven

ciates do not hold securities in our sector of

coverage, except for holdings disclosed to Research Compliance where we have received approval to hold temporarily until we are able to dispose of the holdings, and confirm

the presence of disclosure language on this research which relates to this personal holding. To the best of our knowledge, we are not in receipt of, nor have included in this

report, information considered to be inside information at the time of publication. We also certify that no part of our compensation was, is or will be, directly or indirectly,

related to the specific recommendations or views expressed in this report. We acknowledge that the Analysts responsible for preparing this report receive compensation

from Macquarie that is based upon various factors including Macquarie Group Ltd.’s overall revenues, a portion of which are generated by Macquarie Group’s Investment

Banking activities.

General disclaimers:

Other than Macquarie Bank Limited ABN 46 008 583 542 (“MBL”), any Macquarie Group entity noted is not an authorized deposit-taking institution for the purposes of

the Banking Act 1959 (Commonwealth of Australia), and that entity’s obligations do not represent deposits or other liabilities of MBL. Any investments are subject to

investment risk including possible delays in repayment and loss of income and principal invested. MBL does not guarantee or otherwise provide assurance in respect of the

obligations of that entity. This research has been prepared for the general use of the wholesale clients of the Macquarie Group and must not be copied, either in whole or in

part, or distributed to any other person.