Applied Digital Corporation appointed Ella Benson as an independent director on its Board of Directors (the ?Board?), effective May 6, 2024. Ella has also been appointed to serve as Chairperson of the Nominating and Governance Committee. Ella Benson brings over a decade of experience in financial services and is a Director at Oasis Management Co.

Ltd. (?Oasis?). She has substantial experience working with public companies undergoing strategic transitions. Prior to joining Oasis in 2013, Benson was an analyst at GAM, an independent asset management firm, from 2009 to 2013.

Benson holds a Bachelor of Business Administration in Finance from the McCombs School of Business at the University of Texas at Austin. Ms. Benson joins the Board as part of a Cooperation and Standstill Agreement (the ?Agreement?) with Oasis regarding, among other things, the membership and composition of the Board and Oasis? cessation of further accumulations of the Company?s stock in excess of 9.9% of the Company?s outstanding shares, as well as its curtailment of certain other activities during Ms. Benson?s tenure on the Board, which is contemplated by the Agreement to extend through the date of the Company?s anticipated November 2026 Annual Meeting of Shareholders, or approximately 31 months from the effective date of the Agreement.