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Invest in the Early AI Infrastructure Economy Rare, Public, Pure Play Neocloud Poised for Growth Counsel MS/GS Corvex
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 2 Emerging AI pure play with multiple Value Engines 1. Growing AI Factory MWs 5x (1) , with hundreds of MWs in pipeline 2. Token Factory with proprietary IP offers TAM growth, lower asset intensity 3. Differentiated, proprietary security capabilities for sensitive AI workloads Invest in the Early Buildout of AI Infrastructure Offers a Rare Opportunity to Invest in a Rapidly Growing Pure Play AI Company Experienced team with proven track record Attractive equity returns for near - term investments Attractive market segment with long - term expected growth 4 3 2 1 (1) Reflects estimated 2026 Critical IT Load under contract
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 3 Demand Driver Corvex Solution AI compute demand exceeds supply AI Factory Inference becoming dominant AI workload Token Factory Security increasingly critical for enterprise AI Assured AI Platform 49.8 62.7 77.1 40.5 53.0 66.7 2026E 2027E 2028E AI Infrastructure Investment Thesis Exponential Demand Growth, Lagging Supply = Potential for Attractive Returns Challenge Why Invest in Corvex Limited public market access to AI infrastructure One of the few listed neo - cloud / AI compute platforms Few public rapidly scaling AI companies Enter ahead of market maturity & normalizing valuations Need for product differentiation Unique focus on security, savings, and speed - to - value AI Demand Acceleration and Evolution Continues… …With Limited Access to Public Investments (10.4) (9.7) (9.3) US Demand US Supply Supply Shortfall US Demand Expected to Outstrip Supply US Data Center Supply & Demand (GW) Note: Datacenter capacity reflects Wall Street Broker Estimates
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 4 AI Adoption Creates Opportunities for Differentiated Players Trends are expanding Corvex’s addressable market across Al infrastructure, inference services and Al security software Industry Challenges Why It Matters Opportunities for Differentiation Supply Constraints Al requires unprecedented data center capacity growth . Constraints in power, equipment, & labor limits RFS MWs Accelerate customer time - to - tokens • Disciplined site selection • Faster builds via GC/MEP & tech services partners • Dirt - to - tokens vertical integration Cost of Exponential Consumption Growing enterprise adoption + increasing model complexity = exploding token consumption and uncontrolled costs Token “bill shock” is becoming a pain point for customers Deliver more bang for the buck Near state - of - the - art token - based Intelligence at a fraction of the cost of current market leaders Immature Security AI’s “novelty” is giving way to maturing security expectations among enterprise, government, and AI labs given the value of IP at - risk Securing high - value IP in Al is critical but very difficult Secure AI in transit, at rest, and at runtime Protect high - value IP at runtime, such as model weights and the privacy of end - user inference requests
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 5 Emerging AI pure play with multiple Value Engines 1. Growing AI Factory MWs 5x (1) , with hundreds of MWs in pipeline 2. Token Factory with proprietary IP offers TAM growth, lower asset intensity 3. Differentiated, proprietary security capabilities for sensitive AI workloads Invest in the Early Buildout of AI Infrastructure Offers a Rare Opportunity to Invest in a Rapidly Growing Pure Play AI Company Experienced team with proven track record Attractive equity returns for near - term investments Attractive market segment with long - term expected growth 4 3 2 1 (1) Reflects estimated 2026 Critical IT Load under contract
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 6 Company Overview • Founded in 2024 by Seth Demsey and Jay Crystal, both with 20+ years of experience • Merged with Movano , Inc. (NASDAQ: MOVE) in 2026 to accelerate growth • Delivering AI Factories, Corvex Assured, and coming soon, Token Factories to leading AI companies • Clear path to growth via contracted data center expansions plus a substantial, exclusive pipeline • Focus on building a sustainable business in a disciplined manner for long - term value creation • Emerging as a unique leader in AI security and multi - silicon infrastructure Overview 8 220+ 325+ 2026 Baseline 2027-2028 incl. Expansion Options Incl. 2028 Expansion Under Study Corvex Capacity Expansion Opportunities (MW) (1) (2) (1) Represents the anticipated 2027 Critical IT Load of a single data center currently under exclusive option with Corvex. There can be no assurance that such option will be exercised and/or that we will be able to secure additional data center capacity, sufficient power, or suitable infrastructure on acceptable terms, or at all. (2) Landlord studying site expansion potential, but no contractual commitments in place for such MWs as of the date of this presentation. Landlord may not proceed with development.
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 7 Three Complementary Growth Vectors Token Factory (1) Easy access to high price/ performance AI models • Positions Corvex for rapidly - growing TAM and reduced capital intensity • For most queries, near state - of - the - art AI model performance at a fraction of the cost (3) • Enables developers & enterprises to consume AI via API without operating GPU clusters • Compelling security, performance, & reliability • Secure high - value IP at runtime: model weights & sensitive inference requests (4) • Positions for high - value segments (e.g., regulated enterprise, Federal, AI labs) • High - margin software upsell in Corvex products or licensed for 3rd - party clusters • Patent - pending IP differentiates vs. clouds with HW - or SW - only security • Emerging leader building presence via notable partnerships Assured AI Software securing high - value IP at runtime • Deploy and operate state - of - the - art AI compute clusters from leading GPU OEMs • Alleviates supply bottleneck by accelerating order - to - delivery timelines • 5x data center capacity growth under contract; path to significant growth in exclusivity (2) • Focus on long - term recurring revenue contracts and credit - quality • Tailored, reliable solutions, great service, and unique security capabilities AI Factory Scaled GPU clusters for model training & inference (1) Launching early 3Q26; certain capabilities are anticipated to be delivered in 2H26. Roadmap is subject to change. (2) 5x refers to estimated 2026 IT load. 40x refers to 2027E critical IT load under exclusive option. ’Option’ refers to right of fi rst offer (ROFO) and does not constitute a binding commitment or guarantee of future capacity. There can be no assurance that we will b e a ble to enter into agreements to build, purchase, lease, or license data centers and related equipment and infrastructure in a timely manner or on terms that are favorable to us. (3) Performance claims based on 6/2026 SWE - benchmarks published by each model provider. Cost claims are based on the average price p er token for the relevant open - weights models and frontier model API list prices (6/13/26 - 6/15/26). Corvex self - measured its speed and compared it to the published speeds in Arti ficial Analysis as of June 16, 2026. (4) Anticipated to launch in 2H26
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 8 Corvex AI Factory Key Success Factors Rapid Access to Secure AI Infrastructure at Industrial Scale Respectful of Our Communities • Patent - pending IP to alleviate power grid stress • Limiting the impact to communities from our operations • Developing programs designed to benefit communities • Partnerships accelerate order - to - delivery time • Continuous process improvement for new power site sourcing, due diligence, and installation • Studying vertical integration to enhance control and quality Corvex + Lenovo delivered next - gen liquid cooled GPUs into an air - cooled facility in ~2 weeks (vs. typical multi - quarter retrofit) Obsessed with Customer Success • Deep & broad technical bench for robust support, even when we’re not the root cause Security Built for Enterprise and Frontier AI • Proprietary IP to secure high - value customer IP • U p - to - nation - state grade security layers • Secure on - prem GPU clusters that protect AI lab IP while meeting the strictest customer security requirements Delivering Speed - to - Value • New Corvex customer experienced slower workload performance on current - generation GPUs vs. prior cloud’s prior - generation GPUs • In <48 hours, Corvex identified the root cause, patched a key customer library, and delivered 600% performance gain AI Factory Leading GPU OEM
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 9 220+ 20 35 50+ 325+ 2026 Baseline + Options 2028 Mid - Atlantic Study 2028 Midwest Study 2028 Pipeline Study Total Baseline +Options + Studies 7.8 12.5 50+ 150+ 220+ 2026 Baseline Midwest - 1 Option (2027) Exclusive Pipeline (2027) Pipeline Option (2028) Total Baseline + Options Credible Path to Growth in 2026 and Beyond 1.5 7.8 1.7 4.5 Mid - Atlantic 2Q2026 Mid - Atlantic 4Q2026 Midwest - 1 4Q2026 Total Additional pipeline in development AI Factory (1) Dates refer to anticipated power Ready for Service. Ready for Customer (RFC) dates anticipated to be 1Q2027, (2) “Option” refers to a right of first offer (ROFO) and does not constitute a binding commitment or guarantee of future capacity. (3) Represents the anticipated 2027 Critical IT Load of a single data center currently under exclusivity with Corvex. (4) ROFO at the single data center currently under exclusivity with Corvex. (5) Landlord studying site expansion potential, but no contractual commitments in place for such MWs as of the date of this prese nta tion. Landlord may not proceed with development. Note: There can be no assurance that any contractual options or ROFOs will be exercised or that will be able to enter into ag ree ments to build, lease or license data centers and related equipment and infrastructure in a timely manner or on favorable terms. We may be unable to secure additional data center capacity, sufficient power, or suita ble infrastructure on acceptable terms, or at all. +6.3 (2) (3) (4) (1) (1) Corvex 2026 Power Projections (Critical IT MWs) Expansion Options (Critical IT MWs) Expansion Studies (Critical IT MWs)
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 10 Mid - Atlantic Expansion Doubling Capacity at Initial Pilot Site • Tier III+ design • Diverse Power Paths • Diverse Fiber Paths • Expanding from 1.5 MW to 3.3 MW (critical IT) • Studying 20 MW IT Load expansion • Former Enterprise data center AI Factory
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 11 Mid - Atlantic Expansion Expanding Corvex’s “Pilot Plant” Operations to Meet Market Demand Corvex validated its operational model at Mid - Atlantic before committing to larger - scale builds • Current - and prior - generation GPU capacity ◦ Fully utilized ◦ Demonstrated operational execution ◦ Validated customer demand • Compelling commercial terms • Attractive location ◦ Proximity to fiber routes ◦ Power path diversity ◦ Proximity to Corvex staff • Doubles existing power footprint • Supports approximately 1,000 GPUs • Power expected in late 4Q 26 • GPUaaS revenue expected in 1Q 27 ◦ Anticipating multi - year contracts based on customer demand • Evaluating 20 MW+ (IT) expansion • Proven Facility and working relationships • Faster and Lower Risk than green - or brownfield deployments • Cost effective: leverage sunk costs to generate higher marginal returns • R&D optionality as Corvex grows ◦ Can serve as a testbed for new GPUs, software & security features ◦ R&D that shortens time - to - tokens on new deployments enhances IRR Current Operations 1.7 MW (IT) Expansion Advantages AI Factory
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 12 Mid - Atlantic Expansion AI Factory ✓ ✓ Incremental utility power is live and energized today ✓ ✓ Air quality permit application for 4 th generator set currently in process, approvals anticipated ahead of delivery ✓ All major long - lead equipment ordered, including HVAC equipment, 4th generator set and associated equipment, oxidation housing and catalyst, day tank, controllers, and related infrastructure Ongoing engineering design coordination The status information presented on this slide is as of August 31, 2026, and reflects management's current estimates, plans, and expectations regarding the planned capacity expansion at the Company's Mid - Atlantic data center. The workstreams shown represent selected items management believes are nota ble to an understanding of the expansion's current status; they are not intended to be a complete or exhaustive description of the activities, approvals, ex pen ditures, equipment, or milestones required to complete the expansion, and additional work — including work not presently identified or anticipated — will be required and may be material to the expansion's cost or timing. Check marks denote the status of the discrete workstreams shown as of such date; they do not indicate that the expansion, or any increment of additional critical IT capacity, has been completed, energized, commissioned, or placed in service. Certain of the information presented, including site condition s, construction sequencing, and anticipated milestone dates, is based on representations, estimates, and information provided to the Company which the Company has not in dep endently verified. Path to Power Ready for Service
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 13 Midwest - 1 AI Factory 4.5MW IT Load Scaling to 17MW; 50MW Under Study • Tier III design • Diverse Power Paths • Liquid Cooled, High - Density • Diverse Fiber Paths • Planned expansion to 17MW IT Load; 50MW expansion under study • Former Enterprise data center • LEED Gold AI Factory
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 14 Midwest - 1 AI Factory Expandable & Aligned to Leading GPU OEM Programs • Corvex is a certified cloud partner • Cluster - level certification : Leading GPU OEM anticipated to test the cluster in order to validate its quality • Anticipated co - selling : Upon certification, Corvex anticipates the leading GPU OEM will build awareness of this cluster via its sales channels, de - risking revenue • Data center retrofit by experienced contractor reduces risk • Immediate power , room to grow • Attractive operating costs • Responsible Stewardship ◦ Reuses an existing data center ◦ Increases property tax base to fund schools, fire stations, etc. ◦ Studying other community programs Power Scalability (IT MW) Leading GPU OEM Ecosystem Play Why This Site Phase 1 1H27 (1) Phase 2 Option (2) (Est’d mid - 2027) Under Study (3) (Timing TBD) 4.5 17 51 (1) Anticipated Ready for Customer date. Power anticipated in 4Q26. (2) “Option” refers to a right of first offer (ROFO) and does not constitute a binding commitment or guarantee of future capacity . (3) Landlord studying site expansion potential, but no contractual commitments in place for such MWs as of the date of this presentation. Landlord may not proceed with development Note: There can be no assurance that any contractual options or ROFOs will be exercised or that will be able to enter into ag ree ments to build, lease or license data centers and related equipment and infrastructure in a timely manner or on favorable terms. We may be unable to secure additional data center capacity, sufficient power, or suitable infrastructure on acceptable te rms, or at all. AI Factory
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 15 Midwest - 1 AI Factory • Electrical and mechanical permits secured • GC and subcontractors mobilized ; site work and equipment deliveries in progress • Definitive agreements with site partner to be executed at funding close • Delivery to Corvex targeted for 4Q26 • Transmission service request approved by the utility; interconnection deposits funded; energy services agreement in final execution • Utility long - lead transmission equipment on order • Substation augmentation designed; configuration and placement between owner and utility scope finalized; targeted 4Q26 work commencement • Expansion design well advanced ; positioned to roll directly out of Phase 1 execution • Permit addendum – existing permits remain open; new permitting not expected for most scope • Dry - chiller design – no recurring incremental water consumption anticipated from the expansion • Equipment procurement and EPC release – upon Phase 2 authorization, ~6 months estimated construction - to - delivery • Full 17MW energization targeted for mid - 2027 Phase 1 – 4.5MW (In Execution) Phase 2 Option – +12.5MW (1) AI Factory (1) Supplemental service order for the 12.5MW block expected to require limited negotiation between Corvex and site partner Path to 17MW Critical IT Load
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 16 Go To Market Strategy Mid - Atlantic and Midwest - 1 Fix cost, float revenue Certification = channel unlock Structured process AI Factory Target ideal customers and seek to build a competitive process that optimizes five levers: • Dock into leading GPU OEM’s certification initiative • Co - sell new verticals and model builders • De - risk first - time Corvex buyers • Explore co - sales with other partners in parallel • Lock CapEx via POs at funding close • Monitor potential for higher offtake rates before signing given recent upward pricing trends, which would be accretive to margin & IRR. Mid - Atlantic Midwest - 1 Phase 1 + 1.7MW ~ 1,000 GPUs 4.5MW ~ 2,300 GPUs Phase 2 — + 12.5MW M id 20 27 ~6K next - gen GPUs (TBD) Power RFS 4Q26 4Q26 ( 1) Rev. start 1Q27 (2) 1Q27 (2) Sale goal 1 customer, 2 - 3 - year offtake 1 customer, target >/ 3 - year offtake PACKAGING · 100% take - or - pay, 24/7/365 · Upside from attach services including storage, CPUs, managed K8s, Assured AI TERMS SOUGHT (1) RFS date for initial phase of 4.5MW . (2) There can be no assurance that any customer agreement will be entered into, or that any such agreement would be on the terms, at the pricing or of the duration described above. • Price • Duration • Cross - Sell Attach • Relationship Growth Potential Over Time • Credit / Prepay
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 17 Token Factory Compelling Customer Value and Enhanced ROIC Token Factory • Enter a high - growth market with higher anticipated risk - adjusted returns – Initially targeting developers & enterprise tech departments • Software runs on owned and/or leased GPU capacity , creating flexibility around capital - intensity • Future product/feature up - sell opportunities and eventually GPU clusters and AI factory sales Product Roadmap (1) Why Customers Should Choose Corvex • Enable users to consume open + proprietary AI (1) via API (vs. operating GPU clusters) • Value: Reduce “AI Bill Shock” by offering near frontier model quality for most queries at a fraction of the cost ( 2) • Ease of use: get started in minutes: minimal switching costs • “Assured Inference 1 ” product designed to enhance privacy of customer data , unlocking security - sensitive sectors • Proprietary inference engine enabling top 5 output speed vs. leading competitors (2) • Platform architecture enables use of cost - effective third - party compute while maintaining enterprise - grade reliability Investment Thesis Product Phase 1 Phase 2 Phase 3 Phase 4 Public Inference Endpoints Dedicated Private Deployments Secure Private Inference Environments Additional Enhancements (1) Anticipated roadmap. (2) Source: Performance claims based on SWE - benchmarks published by each model provider as of June 2026. Cost claims are based on th e average price per token for the relevant open - weights models and frontier model API list prices between June 13 - 15, 2026. With respect to output speed, Corvex self - measured its speed and compared it to the published s peeds in Artificial Analysis as of June 16, 2026, actual results in production may vary.
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 18 Corvex Security Differentiation Gaining Traction Security Anticipated to Become Mission Critical as Production AI Matures • AI Factory hourly add - on • Token Factory upsell • SaaS for 3P clouds Packaging • Confidential computing • Assured model weights • Assured inference Corvex Products Together, Corvex and Intel Confidential Computing establish a new standard for secure AI infrastructure, combining factory - scale performance, hardware - enforced isolation, and independent verification to enable confidential AI execution at cloud scale “ [Leading GPU OEM] ecosystem partners are making zero - trust AI factories a reality, including … Corvex. “ • Enterprise and Federal • Increasing AI native adoption expected Target Customers Assured AI
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 19 Corvex Assured AI Platform Vision Reliability & Power Access Are Table Stakes; IP Security Becomes the Differentiator Confidential Token Factory Confidential No ABKE Inference inside a Secure enclave Assured Token Factory + ABKE Prompt Encryption Open - weight & fine - tuned models Protects privacy of user prompts (i.e., ensures inaccessible for learning, etc.) Greater privacy and security vs. traditional inference platforms Assured Model Weights + ABKE Weight Encryption Securely host models while maintaining control of your weights in third - party execution environments Protects model builder and enterprise IP; differentiated vs. hardware - only confidentiality Assured Training + ABKE Data Encryption Pool sensitive data privately: Decrypted only on - GPU Stronger than federated: No gradient leakage Custom Containers Confidential No ABKE Bring Your Own Image: Auto - scaled pods, running in secure enclaves Minimizes effort to move AI workloads into confidential computing Unique, “Out of the box” neocloud functionality Attestation - Bounded Key Exchange (ABKE) Key release bound to attested TEEs; customers keep sole key custody Corvex Confidential Clusters Multi - tenant Kubernetes + confidential containers · verifiable attestation at fleet scale Confidential Computing Enablement Turnkey Confidential Compute configuration & operation on confidential GPUs Corvex or Third - Party Infrastructure Run in our datacenters or any third party — the Confidential Computing platform brings itself up either way END USER MODEL BUILDER DATA OWNER ANY TEAM Confidential / TLS E2E ABKE E2E ABKE E2E ABKE Confidential Note: Certain capabilities are in development or are in planning stages and are not yet live. We may not be able to achieve t hes e capabilities. Production Development Planned Assured AI
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 20 Differentiating AI Pure Play: Infrastructure to Intelligence Corvex vs. Datacenters, Hyperscalers , and Neoclouds Dimension Traditional Datacenters Hyperscalers Neoclouds Core Focus Renting cabinets up to single - tenant data centers Broad cloud + custom silicon GPU Cloud Secure AI, Token Factories, Secure AI SaaS Data Center Own Mix Mix Rent today, vertical integration under consideration GPUaaS AIaaS Varies Advanced AI Security SaaS Varies Varies Capital Intensity High High High Diversified across asset - heavy and asset - lite vectors Example Companies Digital Realty, Flexential, Hut8, Cipher AWS, Microsoft, Alphabet IREN, Lambda Labs, CoreWeave Advantage Reliability & power access are table stakes. Tightly integrated software & security is the key.
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 21 Emerging AI pure play with multiple Value Engines 1. Growing AI Factory MWs 5x (1) , with hundreds of MWs in pipeline 2. Token Factory with proprietary IP offers TAM growth, lower asset intensity 3. Differentiated, proprietary security capabilities for sensitive AI workloads Invest in the Early Buildout of AI Infrastructure Offers a Rare Opportunity to Invest in a Rapidly Growing Pure Play AI Company Experienced team with proven track record Attractive equity returns for near - term investments Attractive market segment with long - term expected growth 4 3 2 1 (1) Reflects estimated 2026 Critical IT Load under contract
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 22 Visionary Leadership and Management Team • 25 years founding, operating, & financing innovative companies • Co - founder/CXO of 3 ventures in dev tools and cybersecurity. Strategic and PE exits • VP of business development, corporate strategy, and M&A for Yahoo/AOL’s ad tech Business Unit • Private equity investor at $80B+ AUM fund targeting tech - enabled services, specialty finance, & healthcare IT • Helped launch tech fund with former Thomas H. Lee partner • Holds four patents Co - CEO & Founder Jay Crystal • 20+ years across engineering and finance • Former Managing Director at Morgan Stanley, focused on leveraged finance and capital markets execution • Over 150 leverage finance and capital markets transactions, with a focus on GPUaaS , data center, power and energy companies • 4 years in Investment Banking at Seabury Group • 2 years as a consultant with aviation - specialist ICF SH&E • Aerospace engineer with Cox & Company • MBA and Master of Science Aero/Astro • CFA® charterholder Chief Financial Officer Chance Moreland • 25+ years in distributed computing and SW development • Google: PM of Google Talk/Meet, then PM of >$30billion non - search advertising • Microsoft: engineer, built core components of .NET.GPM of search engine • AOL Platforms: CTO of over 1,000 - person engineering& product team. significant owned DC footprint + AWS spend • NASA Advanced Computation Concepts Lab: architected move from Cray supercomputers to distributed commodity hardware • Holds 180+ patents Co - CEO & Founder Seth Demsey
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 23 Independent Members of Board of Directors • Former IBM EVP of Innovation and Technology. Led IBM’s storage, semiconductor, microprocessor, and server development businesses • Former AMD Board Director. Chair of Innovation & Technology Committee • Former Board Director for Liberty Mutual, Bank of New York/Mellon, and The MITRE Corporation • IEEE Life Fellow, U.K. Royal Academy of Engineering Fellow, and a Fellow of the American Academy of Arts and Sciences Board Director Nick Donofrio • CFO of TeraWulf • ~25 years in capital markets, principal investing, and credit • Proven track record financing and scaling capital - intensive technology and infrastructure platforms • Former Managing Director at Blackstone; founding member of Platinum Equity’s credit team Patrick Fleury Board Director • Co - founder & former CEO of Ascend Capital for nearly 20 years • Engaged philanthropist with a history of supporting medical research, education and athletics • Board member of MIT Sandbox Fund, mentoring entrepreneurs Board Director Emily Fairbairn • 35+ year PwC veteran advising leading public companies and boards on audit, strategy, and financial oversight • Served on PwC’s Global Board and as Lead Director on U.S. Board • Senior leadership roles included Southwest Region Managing Partner and U.S. sector practice leadership (Entertainment, Media & Communications) Board Director/ Audit Chair Brian Cullinan
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 24 Sachin Nene Head of R&D Engineering • 22 years of product and engineering leadership in high - growth technology companies • Former CTO of Upside (DC unicorn) and VP of Engineering at Vox Media • Leads products that simplify AI cloud consumption and enhance model performance • 2021 Technical.ly RealLIST Engineer Talented Management Team At Every Level The Ideal Mix of Operating, Infrastructure, Software, and Capital Markets Experience Michael Craig Head of Site Operations, Architecture & Procurement • 20+ years in data center operations, infrastructure deployment, and facilities management (ex - Crusoe Cloud, HPE) • Leads GPU data center design and architecture, including power and cooling, and oversees infrastructure procurement • Drives multi - site buildouts at scale, managing vendors and optimizing speed, cost, and performance Jeff Gahan Head of Cloud Infrastructure • 25+ years in high - scale cloud environments (ex - Yahoo!); leads infrastructure operations at Corvex • CISSP - certified expert in system engineering, SRE, and cloud optimization • Scaled global platforms and drove multi - million - dollar efficiency improvements Garrett Brams Head of Real Estate Partnerships • Former Cushman & Wakefield data center broker leading partner identification and lease negotiations for neoclouds, hyperscalers, institutional investors, and site developers • Cultivated a relationship ecosystem spanning developers, utilities, site owners, engineers, and build partners to unlock proprietary deals, reduce risk, accelerate timelines, and optimize infrastructure costs Sean Allbee Head of Corporate Development • 25+ years driving growth in technology, telecom, & media businesses including Google Cloud, Palo Alto Networks, & Ericsson • Engaged strategic accounts to develop proposals that led to billions in total contract value • Led corporate development, partnerships, and strategy at Yahoo!’s ad tech business • 10 years in strategy and operations consulting, including McKinsey & Company and Monitor - Deloitte
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 25 Emerging AI pure play with multiple Value Engines 1. Growing AI Factory MWs 5x (1) , with hundreds of MWs in pipeline 2. Token Factory with proprietary IP offers TAM growth, lower asset intensity 3. Differentiated, proprietary security capabilities for sensitive AI workloads Invest in the Early Buildout of AI Infrastructure Offers a Rare Opportunity to Invest in a Rapidly Growing Pure Play AI Company Experienced team with proven track record Attractive equity returns for near - term investments Attractive market segment with long - term expected growth 4 3 2 1 (1) Reflects estimated 2026 Critical IT Load under contract
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 27 This presentation is intended to present background information on Corvex, Inc. (the “Company” or “us”), its business and the in dustry in which it operates and is not intended to provide complete disclosure upon which an investment decision could be made. This presentation is not intended to form the basis of any investment decision by the recipient and d oes not constitute investment, tax or legal advice, and the information contained in this presentation is subject to change, and any such changes may be material. Certain Projections and Other Information This presentation contains financial projections and other forward - looking data, which are included solely for informational pur poses. Neither we nor any of our affiliates, or our or their respective officers, employees or agents, make any representation or warranty, express or implied as to the achievement or reasonableness of any such projections or other forwa rd - looking data. In addition, such projections have not been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) or audited by our independent registered public accounting firm. The estimates underlying such pr ojections are preliminary and are thus inherently uncertain, subject to change and based on assumptions that may not come true. There can be no assurance that our final results for the projection periods will not differ materially from these estimates. Please also see “Forward - Looking Statements.” Market and Industry Data Unless otherwise indicated, information contained in this presentation concerning the Company’s industry, competitive positio n a nd the markets in which it operates is based on information from independent industry and research organizations, other third - party sources, and management estimates. Independent consultant reports, industry publications and ot her published industry sources generally indicate that the information contained therein was obtained from sources believed to be reliable. While the Company believes that such third - party information is reliable, the Company has not i ndependently verified, and makes no representation as to the accuracy or completeness of, such third - party information. Management estimates are derived from publicly available information released by independent industry analysts and other thir d - p arty sources, as well as data from the Company’s internal research, and are based on assumptions made by the Company upon reviewing such data, and the Company’s experience in, and knowledge of, such industry and markets, which the Co mpany believes to be reasonable. Although the Company believes that such management estimates are reliable, it has not had this information verified by any independent sources. All trademarks, service marks, and trade names appearing in this presentation are the property of their respective holders an d a re used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company. In addition, the information contained in this presentation is as of the date hereof (except where otherwise indicated), and the Company has no obligation to update such information, including in the event that such information becomes inaccurate or if estimates change. Subsequent materials may be provided by or on behalf of the Company in its discretion and suc h information may supplement, modify or supersede the information in these materials. Neither the Company, nor any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwi se) for any loss or damage howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials. Disclaimer
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Proprietary and Confidential. Copyright 2026 Corvex Inc. 28 Forward Looking Statements This presentation contains “forward - looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amen ded, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. Forward - looking statements, wh ich are based on certain assumptions and describe our future plans, strategies and expectations, can generally be identified by the use of forward - looking terms such as “believe,” “e xpect,” “may,” “will,” “should,” “would,” “could,” “seek,” “intend,” “plan,” “goal,” “project,” “estimate,” “anticipate,” “strategy”, “future”, “likely” or other comparable terms and r efe rences to future periods. All statements other than statements of historical facts included in this proxy statement regarding our strategies, prospects, financial condition, operations, costs , p lans and objectives are forward - looking statements. Examples of forward - looking statements include, among others, statements we make regarding expectations for revenues, cash flows and financi al performance, proposed new products or developments or other future events or circumstances, including any underlying assumptions. Forward - looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on ou r current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward - looking st atements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and man y of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward - looking statements. Therefore, you should not rely on any of these forward - looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward - loo king statements include, among others, the following: our limited operating history and our ability to achieve profitability; our need for and ability to obtain additional capital in the future; our expectations regarding the adoption and development of artificial intelligence (“AI”); our plans to expand our current offerings, customer base, data center capacity, sales infr ast ructure, or market; headcount and facilities expansion plans and expectations; risks associated with the possible failure to realize, or that it may take longer to realize than expected, cer tai n anticipated benefits of our merger with Movano (the “Merger”) or the proposed transactions, including with respect to future financial and operating results, legislative, regulatory, poli tic al and economic developments, and those uncertainties and factors; risks related to Company's ability to remain listed on Nasdaq; the effect of the Merger on our business relationship s, operating results and business generally; expectations regarding the strategies, prospects, plans, expectations and objectives of management of the Company for future operations of th e Company; our ability to attract and retain the Company's officers, directors and key employees and other highly qualified personnel; our ability to demonstrate the feasibil ity of and develop products and their underlying technologies; the impact of competitive or alternative products, technologies and pricing; our ability to manage the growth of our Company an d to realize the benefits from any acquisitions or strategic alliances we may enter in the future; the impact of macroeconomic and geopolitical conditions; the adequacy of protections af for ded to us by the patents that we own and the success we may have in, and the cost to us of, maintaining, enforcing and defending those patents; our ability to obtain, expand and mai nta in patent protection in the future, and to protect our non - patented intellectual property; the impact of any claims of intellectual property infringement, trade secret misappropriation , p roduct liability, product recalls or other claims; our ability to stay in compliance with laws and regulations that currently apply or may become applicable to our business; the accuracy of o ur estimates of market size for our products; our ability to implement and maintain effective control over financial reporting and disclosure controls and procedures as well as our abili ty to remediate deficiencies identified with respect to our internal control environment; our success at managing the risks involved in the foregoing items; and other factors discussed in the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” of our Annual Report on Form 10 - K for the year ended D ecember 31, 2025. Any forward - looking statement made by us in this presentation is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward - looking statement, whether written or oral, that may be made from time to time, whethe r as a result of new information, future developments or otherwise.