Contract analysis

I. INTRODUCTION AND EXECUTIVE SUMMARY Ironhaven Data Centers LLC ("IHDC" or the "Applicant") respectfully submits this Zoning Modification Application Narrative and Statement of Justification (this "Narrative") to the Loudoun County Department of Planning and Zoning (the "Department"), requesting approval of a zoning modification ("ZMOD") under the Loudoun County Zoning Ordinance (the "Zoning Ordinance") to permit da

II. APPLICANT INFORMATION A. Applicant / Developer The Applicant is Ironhaven Data Centers LLC, a Delaware limited liability company registered to transact business in the Commonwealth of Virginia. IHDC's Virginia State Corporation Commission Entity ID is S7491283, and its federal employer identification number is 84-3291057. IHDC maintains its headquarters at 44680 Prentice Drive, Suite 200, Ashburn, Virginia 20147,

III. PROPERTY DESCRIPTION A. Stonebridge Parcel The Stonebridge Parcel is the larger of the two parcels comprising the Campus and is described as follows: Existing Conditions. The Stonebridge Parcel is largely undeveloped and was historically used for agricultural purposes. The terrain is gently rolling, with modest topographic variation across the site. There are no existing structures of significance on the propert

IV. EXISTING ZONING AND REQUESTED MODIFICATION A. Current Zoning Classification Both the Stonebridge Parcel (Tax Map Ref. /95-4A-1///) and the Meridian Parcel (Tax Map Ref. /95-4A-2///) are currently zoned PD-IP (Planned Development — Industrial Park) under the Loudoun County Zoning Ordinance. The PD-IP zoning district is a planned development district that permits a range of industrial, office, flex-space, research

V. PROJECT DESCRIPTION A. Development Overview The Stonebridge Data Center Campus is a purpose-built, ground-up data center development designed to provide hyperscale and enterprise customers with high-quality, highly reliable data center capacity in the premier data center market in the world. The key parameters of the development program are as follows: In addition to the four data center buildings, the Campus will

VI. COMPREHENSIVE PLAN CONSISTENCY A. Loudoun County Comprehensive Plan Policies The Stonebridge Data Center Campus is consistent with the policies and objectives of the Loudoun County 2019 Comprehensive Plan (the "Comprehensive Plan"), including its land use, economic development, infrastructure, and environmental stewardship policies. The Applicant has conducted a thorough analysis of the Comprehensive Plan's relev

VII. FISCAL AND ECONOMIC IMPACT ANALYSIS A. Capital Investment The total project budget for the Stonebridge Data Center Campus is approximately $600,000,000, representing one of the largest single-project capital investments in recent Loudoun County history. The budget is allocated as follows: The land acquisition component of $77,900,000 comprises the agreed purchase price of $58,500,000 for the Stonebridge Parcel a