Update on Capital Raising Activity

• Successful completion of sale of Global Switch Australia for A$2.12 billion.
• Generates substantial capital to further pursue ambitious growth opportunities in new and existing markets.
• UBS appointed to explore co-investment opportunities in Global Switch’s rapidly expanding super-prime London campus.

London, 18 December 2024 – Global Switch Holdings Limited (“Global Switch” or the “Company”) is pleased to announce the completion of the A$2.12 billion sale of Global Switch Australia Holdings Ltd (“GSAH”).

The successful transaction has enabled Global Switch to fully realise the value of its historic economic interests in GSAH and represents a significant first step in the Company’s capital raising to fund future growth. All customary regulatory and lender approvals have been received and Global Switch has retained its strong investment grade credit ratings.

Following completion, GSAH and its subsidiaries and GSAH’s immediate parent entity, Global Switch Group Limited, have been released as guarantors of Global Switch's bonds and other debt obligations.

The net proceeds of this transaction have further strengthened the Company’s balance sheet and provide substantial further capital for Global Switch to capitalise on the significant growth opportunities it has identified. The company continues to see attractive opportunities predominantly in its existing core Tier 1 markets of Europe and Asia-Pacific and also in selective new, high-growth Asian markets.

The Company continues to pursue a dual-track growth strategy of redeveloping and densifying existing data centres together with developing new sites, often adjacent to existing assets. The Company is focused on delivering high-quality, low-latency IT capacity that meets a wide range of customer needs, including both air- and liquid-cooled AI and high-performance computing (HPC) demand.

As part of its financing strategy to drive future growth, Global Switch has also recently appointed UBS as financial adviser to explore co-investment opportunities for its super-prime London data centre portfolio.

Global Switch’s existing London data centre portfolio benefits from irreplicable proximity and connectivity to key business centres. The portfolio, in London’s Docklands, includes two operating data centres and a new, high-density hyperscale neo-cloud development, all designed to house the latest HPC and AI compute available on the market.

In total, Global Switch’s London portfolio has secured access to a total of 224 MVA of power in a highly supply-constrained market over the coming five years.

London’s data centre market continues to be one of the largest in the world, and is set to continue its growth to remain Europe’s largest Tier 1 market. Global Switch’s London campus is already meeting the demands of customers, deploying over 10,000 Nvidia H200 and H100 GPUs. This represents one of the largest HPC deployments in the UK.

Current market conditions, where demand for AI and HPC data centres continues to outstrip supply, present an ideal opportunity to recycle capital and fund further growth. The formal process of exploring co-investment in the UK has commenced in London and the Company will provide a further update in due course.