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NASDAQ: AIRJ | AirJoule Technologies Acquires BitSink NASDAQ | AIRJ September 14, 2026
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NASDAQ: AIRJ | NASDAQ: AIRJ | 2 Disclaimers Forward Looking Statements The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, regarding the acquisition of BitSink LLC by AirJoule Technologies LLC (the “Acquisition”) and the strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospectus, plans and objectives of AirJoule Technologies, as it relates to the Acquisition and otherwise, are forward looking statements. When used in this presentation, including any oral statements made in connection therewith, the words “may, ” “should, ” “will, ” “expect, ” “might, ” “plan, ” “anticipate, ” “could, ” “intend, ” “target, ” “goal, ” “project, ” “contemplate, ” “believe, ” “estimate, ” “predict, ” “potential, ” “positioned, ” “seek, ” “would” or “continue, ” and the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, AirJoule Technologies expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this presentation. AirJoule Technologies cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond AirJoule Technologies’ control. These risks include, but are not limited to, ourability to successfully integrate the assets and operations purchased through the Acquisition, the ability to realize anticipated revenues or other benefits of such Acquisition, as well as our ability to implement business plans and forecasts, including the ability to develop, deploy and commercialize our technology and equipment, risks related to our arrangements with strategic partnerships and other third parties; the availability and cost of materials needed to develop, deploy and commercialize our technology and equipment, our status as an early stage company with limited operating history, and the other risks and uncertainties described in our SEC filings including the “Risk Factors” section of our most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10- Q. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this presentation occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. AirJoule Technologies’ SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings. 2
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NASDAQ: AIRJ | 3 AI & Data Center infrastructure demand is accelerating Rising compute density is driving requirements for cooling and electrical infrastructure. Water usage has become a permitting condition Projects are increasingly evaluated on water draw, favoring closed-loop cooling paired with on- site water generation. BitSink’s heritage supports ongoing conversion of crypto-mining sites to AI / HPC 10-15 GW of crypto-mining conversion potential in the U.S.(2) BitSink expands AIRJ’s data center addressable market BitSink and AIRJ form a broader platform that addresses the growing cooling, power and water constraints faced by next-generation data centers The transaction structure is accretive to AIRJ shareholders Equity earnout consideration contingent on future revenue performance. AirJoule Technologies Acquires BitSink, Adding Profitable AI & HPC Infrastructure Cooling Business The build is shifting toward modular and edge Permitting, power and community constraints, as well as the growing need for inference workloads, are pushing new capacity into smaller, factory-built sites; the modular data center market expected to grow from $29.9B in 2024 to $79.5B by 2030, a 17.7% CAGR.(1) (1) MarketsandMarkets (2) Morgan Stanley
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NASDAQ: AIRJ | 4 Key Transaction Highlights Transaction is structured so 60% of consideration is back-end weighted towards achievement of future revenue milestones, which incentivizes performance and aligns interests with AIRJ shareholders Upfront stock consideration Performance- Based Earnout Up to $40M in AIRJ stock contingent on achieving 2027-2029 revenue milestones(1) Profitable Business Immediately accretive to AIRJ revenue and gross profit Cash and stock transaction with no debt assumed from BitSink No Debt AIRJ Retains Strong Balance Sheet Aug 31, 2026 cash balance was $45 million $18 million cash Upfront cash consideration $9 million stock (1) 2027: $30 million; 2028: $63 million; 2029 catch -up: $63 million
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NASDAQ: AIRJ | 5 With BitSink, AIRJ adds a revenue-generating, AI & HPC infrastructure platform with a proven deployment track record. Strategic Rationale Compelling Industrial Logic • BitSink’s closed-loop dry coolers reject heat with zero evaporative water use, and AIRJ’s AWG systems produce water on-site using waste heat • Together: a pathway to water-neutral or water-positive operation in water- constrained data center markets Immediate, de-risked market entry • 220MW+ deployed across North America • UL-listed switchgear and control panel • $15M in binding 2027 purchase orders • 65,000 sq ft facility in South Carolina broadens manufacturing capability A sector with strong secular growth • US data center capacity projected to grow ~4x by 2030 (24 → 110GW)1 • 10 – 15 gigawatts of potential conversion from Bitcoin mining to AI / HPC2 • Electrical equipment spend from $20B → $65B+ by 20301 • Liquid cooling from $3.7B in 2025 → $11.5B by 2030, a ~25% CAGR3 • The modular data center market is forecast to grow from $29.9B in 2024 to $79.5B by 2030, a 17.7% CAGR4 THE NEW AIRJ INTEGRATED PLATFORM POST-BITSINK GENERATION Delivers revenue-generating AI infrastructure platform. Provides pathway to revenue and operating cash flow. REVENUE TRACK RECORD BitSink’s 220 MW+ deployed across North America and an active pipeline converting from crypto- mining to AI & HPC. DEPLOYMENT TAM BitSink expands AIRJ’s data center opportunity set from AWG to cooling infrastructure. EXPANDED TO VALUE CREATION BitSink’s existing customer relationships create potential cross-sell opportunities for the AirJoule AWG technology — building toward a differentiated cooling, electrical, and water platform for AI & HPC data centers and industrial manufacturing. MULTIPLE LEVERS (1) Wood Mackenzie (2) Morgan Stanley (3) Bloomberg Intelligence (4) MarketsandMarkets
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NASDAQ: AIRJ | 6 AI Infrastructure Growth Is Creating New Cooling, Power & Water Constraints AIRJ + BitSink to address increasing focus on power efficiency and water usage at next-generation data centers. (1) Bloomberg Intelligence (2) MarketsandMarkets (3) Wood Mackenzie Higher-density AI racks are accelerating the transition toward liquid cooling and advanced heat rejection. • AI/GPU racks draw 40–150 kW vs. 5–10 kW for traditional servers • Liquid cooling from $3.7B in 2025 → $11.5B by 2030, a ~25% CAGR1 • Modular data center market growing from $29.9B to $79.5B by 2030, a 17.7% CAGR2 COOLING AI compute requires substantially greater electrical infrastructure, increasing demand for switchgear, PDUs and related equipment. • AI racks draw 3–4x conventional servers — requiring higher-voltage distribution • Electrical equipment spend from $20B to $65B+ by 20303 • Texas paused pending data center grid interconnections in August 2026 against roughly 474 GW of requests POWER Traditional cooling architectures can require significant water consumption, creating challenges in water-constrained markets. • Closed-loop dry cooling can reduce facility cooling-water use to near zero • AirJoule AWG: potential for on-site potable water generation. • New York's July 2026 moratorium applies at 50 MW and above. Smaller sites that are good candidates for modular solutions fall outside the scope of the moratorium WATER
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NASDAQ: AIRJ | 7 Vertically Integrated US Manufacturer of Cooling, Electrical and Modular Infrastructure for Data Centers BitSink designs and manufactures cooling, electrical and modular infrastructure for high-density compute, with a deployed base of more than 220MW UL listings for switchboards (508A) and control panels (891) BitSink’s existing customers are transitioning from Bitcoin mining to AI / HPC data centers; the company's products are purpose -built to continue supporting customer’s expanded infrastructure requirements Existing Customer Genesis Digital Assets 16MW liquid cooling system – Pyote, TX (2023) + 20MW expansion (2024) Existing Customer Dataprana 20MW liquid cooling system Pipeline + Additional Operators Additional data center customers in AI / HPC and BTC data centers
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NASDAQ: AIRJ | Pure Distilled Water (to facility use) Dry coolers can reduce reliance on evaporative cooling and water 8 (1) NVIDIA Blog, June 21, 2026 NVIDIA's latest AI server architecture uses outdoor dry coolers in a closed loop to reject heat from a 45°C liquid-cooled system, reducing water consumption to near zero¹. AirJoule AWG uses that same rejected heat to generate water on site. The combination offers a pathway to water-neutral or water-positive operation, in a market where leading data center operators have committed to replenish more water than they consume by 2030. AIRJ and BitSink Are Positioned for a Water-Neutral Approach to Liquid- Cooled AI Infrastructure THE LIQUID COOLING TRANSITION AI compute density increases Liquid cooling adoption expands Higher-temperature liquid loops enable dry heat rejection Heat to AirJoule AWG *For illustrative purposes only. AirJoule and BitSink are in early-stage evaluation of combined cooling and water solutions. CLOSED LOOP LIQUID COOLING SYSTEM AI Server Racks AirJoule AWG Cooled Liquid Return Warm Liquid AirJoule AWG enables data centers to produce pure water onsite BitSink Modular Block
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NASDAQ: AIRJ | Field-proven cooling & electrical infrastructure • Revenue-generating operating business • Cooling + electrical infrastructure products • Modular containerized systems • UL-listed electrical equipment • Established customer relationships with 220MW+ deployed 9 Building a Differentiated Cooling and Water Platform for Modular and High-Density AI InfrastructureWhy AIRJ + BitSink With BitSink, AIRJ adds a revenue-generating, AI & HPC infrastructure platform with a proven deployment track record. Proprietary atmospheric water generation (AWG) • Proprietary atmospheric water generation technology • Capital to expand manufacturing • Public-company platform • Strategic relationships • Commercialization resources +
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NASDAQ: AIRJ | 10 1. Expands the data center opportunity set to the full cooling, electrical and modular stack Positions AirJoule Technologies in cooling, electrical and modular infrastructure for high-density computing. 2. Broadens AIRJ into a cooling and water platform BitSink’s infrastructure adds data center entry points for the AirJoule atmospheric water generation technology and creates pathway for water- neutral operations 3. Adds an established and revenue-generating operating business Revenue, customer relationships, U.S. manufacturing capability and 220MW of equipment deployed. 4. Shareholder-aligned transaction structure 60% of maximum consideration is contingent on future revenue milestones. Key Takeaways
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NASDAQ: AIRJ | NASDAQ | AIRJ Contact: Tom Divine Vice President, Investor Relations & Finance (800) 942-3083 www.airjouletech.com investors@airjouletech.com