APLD · Applied Digital Corp.

Represents the withholding of shares of common stock of Applied Digital Corporation (the "Company") for tax purposes in connection with the vesting of restricted stock units ("RSUs"), which does not constitute an actual sale or other open market transaction.

Includes remaining amount of 600,000 RSUs granted on January 6, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: one-third of the RSUs vested on January 6, 2026, one-sixth of the RSUs vested on July 6, 2026, and one-sixth of the RSUs shall vest on January 6, 2027, July 6, 2027 and January 6, 2028, subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

Shares received upon the vesting of 375,000 PSUs granted on February 6, 2026, which represented a contingent right to receive shares of common stock of the Company on a one-for-one basis.

Includes 500,000 restricted stock units ("RSUs") granted on February 6, 2026. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Includes 500,000 RSUs granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 125,000 of the RSUs shall vest on each of September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable date or accelerated vesting upon certain conditions.

Shares received upon the vesting of 300,000 performance stock units ("PSUs") granted on March 12, 2025 (the "Grant Date") which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.

Includes 500,000 restricted stock units ("RSUs") granted on February 6, 2026. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Includes 500,000 RSUs granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 125,000 of the RSUs shall vest on each of September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable date or accelerated vesting upon certain conditions.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the immediate vesting of PSUs, which does not constitute an actual sale or other open market transaction.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the immediate vesting of PSUs, which does not constitute an actual sale or other open market transaction.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of PSUs, which does not constitute an actual sale or other open market transaction.

Includes 250,000 restricted stock units ("RSUs") granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Represents the withholding of shares of common stock the Company for tax purposes in connection with the vesting of PSUs, which does not constitute an actual sale or other open market transaction.

Includes 742,166 shares held in the Report Person's IRA.

Includes 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

Shares received upon the vesting of 490,000 performance stock units ("PSUs") granted on November 15, 2024, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.

Includes 250,000 restricted stock units ("RSUs") granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Shares received upon the vesting of 800,000 performance stock units ("PSUs") granted on November 15, 2024, which represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis.

Includes 742,166 shares held in the Report Person's IRA.

Includes 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.58 to $34.64, inclusive.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation ("the Company") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation ("the Company") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.91 to $35.05, inclusive.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of RSUs, which does not constitute an actual sale or other open market transaction.

Includes 742,166 shares held in the Report Person's IRA.

Includes 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on October 10, 2024, represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 200,000 vested on October 10, 2025, 100,000 vested on April 10, 2026 and 100,000 shall vest on each of October 10, 2026, April 10, 2027, and October 10, 2027.

Includes 742,166 shares held in the Report Person's IRA.

Includes 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on October 10, 2024, represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vest as follows: 200,000 vested on October 10, 2025, 100,000 vested on April 10, 2026 and 100,000 shall vest on each of October 10, 2026, April 10, 2027, and October 10, 2027.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the immediate vesting of RSUs, which does not constitute an actual sale or other open market transaction.

Includes 742,166 shares held in the Report Person's IRA.

Includes (i) 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, (ii) 600,000 RSUs granted on October 10, 2024, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on October 17, 2024, represent a contingent right to receive shares of common stock of the Company on a one-for-one basis. The RSUs have no expiration date and vest as follows: 81,666 on April 4, 2025, 81,667 on each of October 4, 2025, and April 4, 2026, 81,666 on October 4, 2026, and 81,667 on each of April 4, 2027, and October 4, 2027, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of Applied Digital Corporation the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on April 4, 2023, represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vested as follows: 200,000 on April 4, 2024 and 100,000 on each of October 4, 2024, April 4, 2025, October 4, 2025, and April 4, 2026.

Restricted stock units ("RSUs") granted on April 4, 2023, represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vested as follows: 200,000 on April 4, 2024 and 100,000 on each of October 4, 2024, April 4, 2025, October 4, 2025, and April 4, 2026.

Includes 742,166 shares held in the Report Person's IRA.

Includes (i) 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, (ii) 600,000 RSUs granted on October 10, 2024, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on April 4, 2023, represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vested as follows: 25,000 on April 4, 2024, and 12,500 on each of October 4, 2024, April 4, 2025, October 4, 2025, and April 4, 2026, and were subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of RSUs, which does not constitute an actual sale or other open market transaction.

Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of Applied Digital Corporation the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on April 4, 2023, represented a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis. The RSUs have no expiration date and vested as follows: 25,000 on April 4, 2024, and 12,500 on each of October 4, 2024, April 4, 2025, October 4, 2025, and April 4, 2026, and were subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of Applied Digital Corporation the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on October 17, 2024, represent a contingent right to receive shares of common stock of the Company on a one-for-one basis. The RSUs have no expiration date and vest as follows: 81,666 on April 4, 2025, 81,667 on each of October 4, 2025, and April 4, 2026, 81,666 on October 4, 2026, and 81,667 on each of April 4, 2027, and October 4, 2027, subject to the Reporting Person's continued employment with the Issuer through the applicable vesting date.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the vesting of RSUs, which does not constitute an actual sale or other open market transaction.

Includes 250,000 RSU's granted on February 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of Applied Digital Corporation the Company on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Represents the withholding of shares of common stock of Applied Digital Corporation (the "Company") for tax purposes in connection with the vesting of RSUs, which does not constitute an actual sale or other open market transaction.

Includes 500,000 restricted stock units ("RSUs") granted on February 6, 2026. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 RSUs every six months every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Includes 500,000 restricted stock units ("RSUs") granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: 125,000 of the RSUs shall vest on each of September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on February 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: 50,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 25,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Restricted stock units ("RSUs") granted on February 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: 100,000 RSUs on February 6, 2027 (the "Cliff Date") with the remainder vesting in equal installments of 50,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Includes 750,000 RSU's granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: one-third of the RSU's on March 12, 2026 and one-sixth of the RSUs on September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation ("the Company") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Represents a gift to the Reporting Person's children on January 22, 2026.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.07 to $37.46, inclusive.

Includes (i) 1,500,000 restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") which represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, (ii) 600,000 RSUs granted on April 4, 2023, of which 500,000 RSUs have vested and 100,000 RSUs will vest on April 4, 2026, and (iii) 600,000 RSUs granted on October 10, 2024, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to continued full-time employment in a role approved by the Board of Directors through such date or accelerated vesting upon certain conditions.

Includes 742,166 shares held in the Reporting Person's IRA.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.45 to $35.46, inclusive.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 200,000 RSUs granted on May 13, 2024 in connection with the Reporting Person's service as the Chairman of the Board of Directors of Applied Digital Cloud Corporation, a subsidiary of the Company. The RSUs vest as follows: 100,000 shares on May 13, 2026 (the second anniversary of the grant date) and 100,000 shares on May 13, 2027 (the third anniversary of the grant date), provided that the Reporting Person is a director of both the Company and Applied Digital Cloud Corporation on each such date.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.27 to $35.32, inclusive.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 200,000 RSUs granted on May 13, 2024 in connection with the Reporting Person's service as the Chairman of the Board of Directors of Applied Digital Cloud Corporation, a subsidiary of the Company. The RSUs vest as follows: 100,000 shares on May 13, 2026 (the second anniversary of the grant date) and 100,000 shares on May 13, 2027 (the third anniversary of the grant date), provided that the Reporting Person is a director of both the Company and Applied Digital Cloud Corporation on each such date.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Restricted stock units ("RSUs") granted on January 6, 2026 (the "Grant Date") represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: 300,000 RSUs on January 6, 2027 (the "Cliff Date"), with the remainder vesting in equal installments of 150,000 RSUs every six months after the Cliff Date, such that the RSUs will be fully vested on the five-year anniversary of the Grant Date, each such vesting subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through the applicable vesting date or accelerated vesting upon certain conditions.

Includes 742,166 shares held in the Reporting Person's IRA. Also includes (i) 600,000 RSUs granted on April 4, 2023, which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis and have no expiration, of which 500,000 RSUs have vested and 100,000 RSUs will vest on April 4, 2026, and (ii) 600,000 RSUs granted on October 10, 2024, which represent a contingent right to receive shares of common stock of the Company on a one-for-one basis and have no expiration date, of which 200,000 RSUs have vested and 100,000 RSUs will vest on each of April 10, 2026, October 10, 2026, April 10, 2027 and October 10, 2027; in each case, subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company through such date or accelerated vesting upon certain conditions.

Performance stock units ("PSUs") granted on January 6, 2026 represent a contingent right to receive shares of common stock of the Company on a one-for-one basis and vest in three equal tranches over a period of five years, with each tranche subject to a performance-based vesting condition that requires achievement of an average closing stock price hurdle (equal to $50, $75 and $100, respectively), as measured over a 90 consecutive calendar day period, as described in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 8, 2026, subject to the Reporting Person's continued full-time employment with the Company in a role approved by the Board of Directors of the Company or within twelve months following certain terminations of employment.

Represents the withholding of shares of common stock of Applied Digital Corporation (the "Company") for tax purposes in connection with the immediate vesting of the RSUs, which does not constitute an actual sale or other open market transaction.

Includes 600,000 RSUs granted on January 6, 2025. The RSUs represent a contingent right to receive shares of common stock of the Company on a one-for-one basis, have no expiration date, and vest as follows: one-third of the RSUs vested on January 6, 2026 and one-sixth of the RSUs shall vest on July 6, 2026, January 6, 2027, July 6, 2027 and January 6, 2028, subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Represents the withholding of shares of common stock of the Company for tax purposes in connection with the immediate vesting of the RSUs, which does not constitute an actual sale or other open market transaction.

Includes 750,000 RSUs granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: one-third of the RSUs on March 12, 2026 and one-sixth of the RSUs on September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

Restricted stock units ("RSUs") granted on November 25, 2025, that immediately vested upon grant in accordance with the terms of the award agreement.

Includes 750,000 RSUs granted on August 8, 2025. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Company") on a one-for-one basis, have no expiration date, and vest as follows: one-third of the RSUs on March 12, 2026 and one-sixth of the RSUs on September 12, 2026, March 12, 2027, September 12, 2027 and March 12, 2028, subject to the Reporting Person's continued employment with the Company through the applicable vesting date.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on January 30, 2025.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $21.14 to $23.79, inclusive.

Includes 7,747 restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 60,976 shares of restricted stock granted on May 6, 2024 as an initial grant upon initiation of board service. Of these shares, 20,326 vested on April 30, 2025 and 20,325 will vest on each of April 30, 2026 and April 30, 2027, subject to the Reporting Person's continued service through such date.

Restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 28,606 RSUs granted on December 27, 2024 to non-employee directors for board service. The RSUs convert into shares of common stock of the Issuer on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 60,976 shares of restricted stock granted on May 6, 2024 as an initial grant upon initiation of board service. Of these shares, 20,326 vested on April 30, 2025 and 20,325 will vest on each of April 30, 2026 and April 30, 2027, subject to the Reporting Person being a director of the Issuer on each such date.

Restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 28,606 RSUs granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 28,606 RSUs granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of the Issuer on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 200,000 shares of restricted stock granted to the Reporting Person on May 13, 2024 in connection with the Reporting Person's service as the Chairman of the board of directors of Applied Digital Cloud Corporation, a subsidiary of the Issuer. The shares of restricted stock vest as follows: 100,000 shares on May 13, 2026 (the second anniversary of the grant date) and 100,000 shares on May 13, 2027 (the third anniversary of the grant date), provided that the Reporting Person is a director of both the Issuer and Applied Digital Cloud Corporation on each such date.

Restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 28,606 RSUs granted on December 27, 2024 to non-employee directors for board service. The RSUs convert into shares of common stock of the Issuer on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 46,190 shares of restricted stock granted on February 22, 2024 as an initial grant upon initiation of board service. Of these shares, 15,396 vested on February 22, 2025 and 15,397 will vest on each of February 22, 2026 and February 22, 2027, subject to the Reporting Person being a director of the Issuer on each such date.

Restricted stock units ("RSUs") granted on November 9, 2025 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 5, 2026, subject to the Reporting Person's continued service through such date.

Includes 28,606 RSUs granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 28,606 restricted stock units ("RSUs") granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 200,000 shares of restricted stock granted to the Reporting Person on May 13, 2024 in connection with the Reporting Person's service as the Chairman of the board of directors of Applied Digital Cloud Corporation, a subsidiary of the Issuer. The shares of restricted stock vest as follows: 100,000 shares on May 13, 2026 (the second anniversary of the grant date) and 100,000 shares on May 13, 2027 (the third anniversary of the grant date), provided that the Reporting Person is a director of both the Issuer and Applied Digital Cloud Corporation on each such date.

The 903,970 shares were indirectly held by 272 Capital, LLC ("272 Capital") pursuant to a certain Investment Management Agreement with the investment manager of certain trading accounts. On October 31, 2025, the Investment Management Agreement was terminated. As a result, the Reporting Person ceased having discretionary or voting authority with respect to the 903,970 shares.

Shares are held by 272 Capital, of which the Reporting Person is the President.

Includes 28,606 restricted stock units ("RSUs") granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 28,606 restricted stock units ("RSUs") granted on December 27, 2024 to non-employee directors for board service. The RSUs represent a contingent right to receive shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 200,000 shares of restricted stock granted to the Reporting Person on May 13, 2024 in connection with the Reporting Person's service as the Chairman of the board of directors of Applied Digital Cloud Corporation, a subsidiary of the Issuer. The shares of restricted stock vest as follows: 100,000 shares on May 13, 2026 (the second anniversary of the grant date) and 100,000 shares on May 13, 2027 (the third anniversary of the grant date), provided that the Reporting Person is a director of both the Issuer and Applied Digital Cloud Corporation on each such date.

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.20 to $35.49, inclusive.

Includes 28,606 Restricted stock units ("RSUs") granted on December 27, 2024 to non-employee directors for board service. The RSUs convert into shares of common stock of Applied Digital Corporation (the "Issuer") on a one-for-one basis, have no expiration date, and vest in full on November 20, 2025, subject to the Reporting Person's continued service through such date.

Includes 60,976 shares of restricted stock granted on May 6, 2024 as an initial grant upon initiation of board service. Of these shares, 20,326 vested on April 30, 2025 and 20,325 will vest on each of April 30, 2026 and April 30, 2027, subject to the Reporting Person being a director of the Issuer on each such date.