CORZ Core Scientific, Inc./tx

“In connection with the restatement described in Part I, Item 4, the Company's Board of Directors completed its analysis under the Company's clawback policy as required by SEC Rule 10D-1.”

“However, the misstatements resulted in the restatement of previously issued annual and interim financial statements.”

“We did not effectively operate controls to account for intended demolition of building and infrastructure assets, including evaluation of impairment, related to the conversion of facilities from digital asset mining operations to HPC colocation infrastructure due to an insufficient complement of trained personnel.”

“Our internal control over financial reporting was determined to be not effective as of December 31, 2025 and continues to be not effective as of September 30, 2026.”

“Based on that evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that, as of September 30, 2026, our disclosure controls and procedures were not effective due to the material weakness in internal control over financial reporting described below.”