MDU Resources

📢 𝐉𝐔𝐒𝐓 𝐈𝐍: MDU Signs Power Agreement for $Applied Digital(APLD.US) Applied Digital's 430 MW AI Data Center

👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:

➤ 𝐌𝐨𝐧𝐭𝐚𝐧𝐚-𝐃𝐚𝐤𝐨𝐭𝐚 𝐔𝐭𝐢𝐥𝐢𝐭𝐢𝐞𝐬 signed an electric service agreement with 𝐀𝐩𝐩𝐥𝐢𝐞𝐝 𝐃𝐢𝐠𝐢𝐭𝐚𝐥.

➤ Agreement supports the proposed 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐅𝐨𝐫𝐠𝐞 𝟑 AI data center near Center, North Dakota.

➤ The campus is expected to require up to 𝟒𝟑𝟎 𝐌𝐖 of electricity at full capacity.

➤ Applied Digital will purchase power directly from energy markets or other supply sources.

➤ Initial operations at Polaris Forge 3 are expected to begin in 𝐀𝐮𝐠𝐮𝐬𝐭 𝟐𝟎𝟐𝟕.

➤ The agreement remains subject to approval by the 𝐍𝐨𝐫𝐭𝐡 𝐃𝐚𝐤𝐨𝐭𝐚 𝐏𝐮𝐛𝐥𝐢𝐜 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧.

➤ Applied Digital previously signed a 𝟏𝟓-𝐲𝐞𝐚𝐫 lease with an investment-grade U.S. hyperscaler for the site.

➤ The project is expected to create approximately 𝟐𝟎𝟎 𝐟𝐮𝐥𝐥-𝐭𝐢𝐦𝐞 jobs and generate local tax revenue.

➤ MDU currently serves Applied Digital's 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐅𝐨𝐫𝐠𝐞 𝟏 facility near Ellendale.

➤ That partnership has returned 𝐚𝐛𝐨𝐮𝐭 $𝟑𝟖.𝟒 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 to North Dakota customers over three years.

👉 𝐖𝐡𝐲 𝐈𝐭 𝐌𝐚𝐭𝐭𝐞𝐫𝐬:

➤ The deal highlights rising 𝐀𝐈 𝐝𝐚𝐭𝐚 𝐜𝐞𝐧𝐭𝐞𝐫 power demand across the U.S.

➤ A 𝟒𝟑𝟎 𝐌𝐖 campus would rank among the region's largest energy-consuming projects.

➤ Long-term hyperscaler demand supports Applied Digital's AI infrastructure expansion strategy.

👉 𝐄𝐱𝐩𝐞𝐫𝐭 𝐒𝐭𝐚𝐭𝐞𝐦𝐞𝐧𝐭:

➤ "The campus is expected to create approximately 200 full-time jobs and generate property tax revenue for Oliver County." — 𝐖𝐞𝐬 𝐂𝐮𝐦𝐦𝐢𝐧𝐬, Chairman and CEO of Applied Digital.

➤ "The project reflects growing interest in North Dakota among large energy users, and we are committed to serving these customers in a manner that benefits communities and supports the regional grid." — 𝐍𝐢𝐜𝐨𝐥𝐞 𝐊𝐢𝐯𝐢𝐬𝐭𝐨, President and CEO of MDU Resources.