Road to Success

(d) As Applied Digital Corporation (the “Company”) previously reported in a
Current Report on Form 8-K filed on November 14, 2022, at the Company’s Annual
Meeting of Stockholders held on November 10, 2022, the Company’s stockholders
approved, through a non-binding advisory vote, an annual frequency for the
non-binding advisory vote to approve the compensation of the Company’s Named
Executive Officers. The sole purpose of this amendment is to disclose, in
accordance with Item 5.07(d) of Form 8-K, that the Company has determined it
will hold future non-binding advisory votes on an annual basis until the next
vote by the Company’s stockholders on the frequency of the non-binding advisory
vote to approve the compensation of its Named Executive Officers.

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