
	August 31, 2026		May 31, 2026
Prepaid expenses and other current assets
Short term equipment and utility deposit	$	560,523	$	500,290
Deferred issuance costs	2,966		3,397
Short term lease incentive	8,543		6,231
Related party receivable (1)	59,334		58,632
Prepaid expenses	29,641		24,471
Other current assets	24,631		20,671
Total Prepaid expenses and other current assets	$	685,638	$	613,692

(1)Balance as of August 31, 2026 consists of the $59.2 million promissory note and $0.1 million of deferred construction costs with Base Electron. See Note 7 - Related Party Transactions for further discussion.


	August 31, 2026		May 31, 2026
Other assets
Long term lease incentive	$	196,223	$	199,391
Restricted cash	414,649		180,415
Deposits on assets & construction	170,978		47,719

Goodwill (1)	54,387		54,513
Lease receivables	34,141		21,026
Deferred lease costs	—		10,729
Derivative assets (2)	169,837		163,283
Investments in other companies (3)	64,092		123,329
Investment in related party (4)	2,000		2,000
Other	5,913		28,221
Total Other assets	$	1,112,220	$	830,710

(2)Balance as of August 31, 2026 consists of the fair value of derivative assets related to the preferred units and corresponding common units held by APLD HPC TopCo 2’s noncontrolling interest. See Note 8 - Fair Value Measurements, Note 16 - Temporary Equity, and Note 11 - Derivative Assets for further discussion.

(3)Includes $34.7 million of warrants, which are accounted for as derivatives, and $7.8 million of common shares, which are recorded at fair value, issued by B&W to the Company in association with the Company’s investment in B&W. See Note 11 - Derivative Assets for further discussion. The balance also includes a $10.0 million investment by the Company in Corintis SA (“Corintis”) in exchange for Series A1 preferred shares, approximating 4% of Corintis’s outstanding equity. The Series A1 preferred shares are convertible preferred shares with no redemption rights. The investment in Corintis is accounted for at cost under ASC 321. During the quarter ended August 31, 2026, the Company invested in three private companies for a total of $8.2 million, which are included within this balance. These investments are accounted for at cost under ASC 321. See Note 8 - Fair Value Measurements for further discussion on fair value measurements for equity investments and derivative assets.


	August 31, 2026		May 31, 2026
Accrued liabilities
Accrued construction payables	$	563,897	$	307,812
Accrued expenses	135,587		81,311
Accrued interest	142,042		151,215
Other accrued liabilities	8,829		8,155
Total Accrued liabilities	$	850,355	$	548,493