Mr. Ben Gagnon reports

KEEL INFRASTRUCTURE ANNOUNCES CLOSING OF PASO PE SALE

Keel Infrastructure Corp. today closed the previously announced sale of its 70-megawatt site in Paso Pe, Paraguay. After customary closing adjustments, total proceeds from the sale were approximately $13-million, from an originally agreed price of up to $30-million. The revision reflects the deterioration in bitcoin mining economics and broader macro factors. Under the terms of the share purchase agreement, Sympatheia Power Fund led the acquisition from Keel and its affiliates of 100 per cent of the shares of the single purpose subsidiary.

"This sale marks the end of a chapter. Keel Infrastructure now has a 100-per-cent North American portfolio, with zero Latin American exposure and no remaining non-core assets to manage or divest," said Ben Gagnon, chief executive officer. "The price adjustment reflects where bitcoin mining economics stand today and our thesis remains the same. We brought forward roughly two to three years of estimated free cash flow under current market conditions, in cash and upfront. That capital will be immediately allocated to our HPC/AI pipeline development, where we believe we will be able to generate much stronger returns and create more value for our shareholders. This is a clean exit from Latin America, we are focused and committed to building the infrastructure backbone to support the AI economy in North America."

About Keel Infrastructure Corp.

Keel Infrastructure is a North American digital infrastructure and energy company that develops and owns data centres and energy infrastructure for high performance computing workloads, including AI. With a pipeline of 2.2 gigawatts and established grid interconnections already in place, Keel delivers scalable infrastructure solutions in high-demand power markets across Pennsylvania and Washington in the United States, and Quebec in Canada. Keel is headquartered in New York and trades under the ticker symbol KEEL on Nasdaq and Toronto Stock Exchange.

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