Mr. Michel Amar reports

DIGI POWER X ANNOUNCES UPSIZING OF AT-THE-MARKET OFFERING PROGRAM

Digi Power X Inc. has upsized, by $100-million (U.S.), the previously announced at-the-market (ATM) equity offering program established with A.G.P./Alliance Global Partners, pursuant to an amended and restated sales agreement dated April 9, 2026.

On May 8, 2026, the company filed a prospectus supplement to increase the size of the ATM equity program pursuant to which the company may offer and sell, from time to time through the agent, subordinate voting (SV) shares of the company having an aggregate offering price of up to $175-million (U.S.). Sales of SV shares, if any, in the ATM equity program are anticipated to be made in transactions that are deemed to be at-the-market offerings as defined in Rule 415(a)(4) under the U.S. Securities Act of 1933, as amended, directly on the Nasdaq Capital Market or another trading market for the SV shares in the United States, at the market price prevailing at the time of each sale. No SV shares will be offered or sold under the ATM equity program in Canada, to anyone known by the agent to be a resident of Canada, or over or through the facilities of Cboe Canada, or any other exchange or market in Canada. The ATM equity program may be terminated by either party at any time.

The company intends to use the net proceeds of the ATM equity program, if any, primarily for general corporate purposes, including financing continuing operations and/or working capital requirements, completing construction on the company's Tier 3 data centre facilities, repaying indebtedness outstanding from time to time, and completing potential acquisitions to expand power infrastructure capacity and build out its planned AI (artificial intelligence) and HPC (high performance computer) network.

For additional information on the ATM equity program, please see the company's news releases of May 30, 2025, Nov. 18, 2025, and April 9, 2026.

The prospectus supplement is available on EDGAR.

About Digi Power X Inc.

Digi Power X is an AI infrastructure company, operating a vertically integrated portfolio of power assets and data centre capacity across Alabama, New York and North Carolina, with approximately 400 megawatts of secured power across its sites. The company's NeoCloudz platform delivers GPU-as-a-service (graphics processing unit) on dedicated, bare metal NVIDIA infrastructure.

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