Press Release: Sharon AI Reports Second Quarter 2026 Results

Total contract value reaches $8.8bn

Six-year strategic NVIDIA compute collaboration

Secured AI Factory capacity increases by 80MW to 212MW

NEW YORK, Aug. 6, 2026 /PRNewswire/ -- Sharon AI Holdings Inc. $(SHAZ)$ and its subsidiaries ("Sharon AI" or "the Company"), a leading Australian Neocloud, today reported its financial and operational results for the second quarter ended June 30, 2026.

All amounts are in U.S. dollars unless otherwise indicated.

Second Quarter 2026 Highlights

   -- Customer Momentum 
 
          -- $4.9bn, six-year strategic compute collaboration with NVIDIA for 
             up to 40,000 GB300 GPUs 
 
          -- $950m, five-year, take-or-pay contract with a global technology 
             company with major Asia-pacific presence 
 
   -- Capacity and Platform 
 
          -- Expanded VAST Data partnership: 600PB VAST AI Operating System 
             deployed as the foundational data layer, sized to support 
             100,000 GPUs 
 
   -- Balance Sheet and Capital 
 
          -- Well funded for the near-term build-out following the $1.6bn 
             oversubscribed private placement, $350m convertible notes offering, 
             and the accelerated receipt of $74m in proceeds from the 
             divestment of Texas Critical Data Centers ("TCDC") 
 
   -- Leadership and Governance 
 
          -- Appointed Andrew Penn AO as Non-Executive Chairman 

Second Quarter 2026 Financial Results

   -- Revenue: $1.9m, an increase of 412% from 2Q 2025 
 
   -- Net income (loss): $(430.4m), including non-cash items totaling $423.8m, 
      primarily reflecting a $400.4m fair value loss on convertible notes 
      resulting from share price appreciation, compared to a net loss of 
      $(2.6m) in 2Q 2025. 
 
   -- Adjusted EBITDA1: $0.6m, compared to $(1.7m) in 2Q 2025 
 
   -- Cash and cash equivalents: $1.9bn at June 30, 2026 
 
   -- Total Contract Value ("TCV")2: $8.8bn as of August 6, 2026 
 
(1) Adjusted EBITDA is a non-GAAP financial measure. See "Non-GAAP Financial 
Measures" and reconciliation tables. 
(2) TCV represents the aggregate estimated contractual committed spend under 
customer contracts in effect as of the measurement date, for the contractual 
term. TCV is an operating metric and does not represent revenue recognized in 
accordance with U.S. GAAP. TCV excludes contracts that are not legally binding 
and is subject to change based on contract modifications, terminations, and 
other factors. 
 

Management Commentary

"In the second quarter, we established the commercial, infrastructure, and capital foundations for Sharon AI's next phase of growth at scale," said James Manning, Co-Founder and Chief Executive Officer of Sharon AI. "Customer engagement continues to broaden and deepen, reflecting strong demand for secure, high-performance AI infrastructure and a growing recognition that access to power, compute and data sovereignty will be critical constraints as AI adoption accelerates.

"Our focus is on converting that demand and our contracted commitments into durable revenue growth and long-term shareholder value through disciplined execution. We are on track to bring contracted capacity online in accordance with our deployment schedule, while maintaining a thoughtful approach to capital allocation and pace of expansion. Revenue is expected to ramp materially from the third quarter of 2026 through 2027. With an experienced leadership team backed by deep technical and operating expertise across the business, a best-in-class partner ecosystem and a strengthened balance sheet, we believe Sharon AI is well positioned to become a leading sovereign AI infrastructure platform across Australia, New Zealand, and the broader Asia-Pacific region."

Subsequent Highlights

In the third quarter 2026 to-date, the Company has announced:

   -- $1.32bn, five-year, take-or-pay contract with a global AI lab, anchoring 
      Sharon AI's expansion to New Zealand 
 
   -- Additional 80MW of capacity, bringing total capacity to 212MW, for 
      deployment in 2026 and 2027, underpinned by a growing pipeline of 
      additional capacity 
 
   -- $373m, five-year, take-or-pay contract with a global AI platform for a 
      deployment of 2,048 NVIDIA B300 GPUs 
 
   -- 64,000+ NVIDIA GPUs expected to be deployed by mid 2027 
 
   -- Anuj Goel as Chief Financial Officer and Melissa Anastasiou as Chief 
      Legal Officer 

2Q 2026 Results Conference Call & Webcast

Date & Time: Thursday, August 6, 2026, 4:30 p.m. ET

Webcast: Use this link

U.S. Dial-in: 888-506-0062

International Dial-in: +1-973-528-0011

Conference ID: 376509

A replay of the webcast will be available at sharonai.com/investors following the event.

About Sharon AI

Sharon AI (NASDAQ: SHAZ) is a leading Australian neocloud expanding access to artificial intelligence through trusted, secure and sovereign AI infrastructure. Through its AI Factory platform and colocation partners, Sharon AI enables organisations across Australia, New Zealand, and globally to confidently build, train and deploy AI at scale. For more information, visit www.sharonai.com.

Disclosure Information

Sharon AI primarily uses its Investor Relations page to disseminate information about the Company, and can be additional sources of information outside press releases, regulatory filings with the SEC and any other conference calls, webcasts, investor days, etc. that the company may hold.

Forward-Looking Statements

This press release may contain, and our officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, which are not historical facts, and which are not assurances of future performance. Forward-looking statements are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. In some cases you can identify these statements by forward-looking words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "could," "should," "would," "project," "strategy," "plan," "expect," "goal," "seek," "future," "likely" or the negative or plural of these words or similar expressions or references to future periods. Forward-looking statements in this release include specific statements regarding the intended use of proceeds. Examples of such forward-looking statements include but are not limited to express or implied statements regarding Sharon AI's management team's expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding:

   -- Service and product offerings; 
 
   -- Receipt and use of proceeds; 
 
   -- The deployment of assets and expansion of network procurement; 
 
   -- Sharon AI's ability to engage with additional potential customers; 
 
   -- Expansion of Sharon AI's data center footprint and capacity; and 
 
   -- The strengthening of Sharon AI's partner network. 

In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. You are cautioned that such statements are not guarantees of future performance and that actual results or developments may differ materially from those set forth in these forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause actual results to differ materially from these forward-looking statements include, among others, all of the risks described in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K filed with the SEC and other reports subsequently filed with the SEC. Additional assumptions, risks and uncertainties are described in detail in our registration statements, reports and other filings with the SEC, which are available at www.sec.gov.

The forward-looking statements and other information contained in this news release are made as of the date hereof and Sharon AI does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Non--GAAP Financial Measures

This press release includes "Adjusted EBITDA," which is a non--GAAP financial measure. The Company defines Adjusted EBITDA as net income (loss) adjusted to exclude: (i) interest expense (income), net; (ii) income tax expense (benefit); (iii) depreciation and amortization; (iv) stock-based compensation expense; (v) fair value adjustments on convertible notes; and (vi) other non-cash or non-recurring items that management does not consider indicative of the Company's ongoing operating performance. Adjusted EBITDA is not a substitute for net income (loss) or any other measure of financial performance prepared in accordance with U.S. GAAP and may not be comparable to similarly titled measures used by other companies. Management believes Adjusted EBITDA is useful to investors because it provides a supplemental measure of the Company's core operating performance by excluding the effects of capital structure decisions (such as interest expense and fair value changes on convertible notes), non-cash charges (such as