Americas Data Center H2 2024 Update

MONTREAL + QUEBEC AMERICAS SECONDARY MARKET

LONGUEUIL

KEY INDICATORS*

228MW In Operation

45MW 2024 Colo Leasing

MONTREAL CBD

WEST MONTREAL

VAUDREUIL-DORION

37MW Under Construction

7.7% Colo Vacancy

Colo

*Definition: Key indicators are based on operational Hyperscale Cloud, Colo, Edge & Telco data centre facilities in the market and excludes Captive & ICT.

Hyperscale Self-build

MARKET OVERVIEW Montreal is emerging as a competitive data center market in Canada with strong growth potential. Its advantages include low operating costs driven by abundant hydroelectric power, numerous tax incentives and proximity to major East Coast markets. While smaller than Toronto, Montreal is experiencing steady growth, a trend expected to continue, as land availability is not as constrained as in Ontario. Like Toronto, Montreal could benefit from the Canadian government’s investment in AI. Expansion is already underway — Qscale recently announced plans to expand its Q01 campus, and Vantage is set to expand its QC2 campus.

SIGNIFICANT CONSTRUCTION & PLANNED UPDATES

STAGE - EST. DELIVERY

OPERATOR

DATA CENTER

SIZE (SF)

POWER (MW)

Google

Beauharnois

(Undisclosed)

(Undisclosed)

In Planning

Enovum Data Centers

MTL1 – Phase 2+

165,590

20

In Planning

QC4 – Expansion QC6 - Expansion BHS Campus - Expansion

414,000 (est.) (Undisclosed)

42 (est.) (Undisclosed)

U/C & In Planning In Planning

Vantage Data Centers

ECOSYSTEM DEVELOPMENTS •

Microsoft began construction on a new data center in L’Ancienne -Lorette, Quebec, which is expected to be completed by early 2026. This project is part of a $500 million investment to expand Microsoft's cloud computing and AI infrastructure in Canada, adding to its existing Azure regions in Toronto and Quebec City. • Bit Digital acquired Enovum, a Montreal-based data center operator, to transition to serving AI customers. This acquisition allows the company to offer colocation and GPU hosting services, expanding its capabilities in the high performance computing (HPC) industry. Bit Digital also purchased a second facility in Pointe-Claire that will be retrofitted to support AI computing. • Consensus Core selected Cologix's MTL10 data center at 530 Rue Bériault in Longueuil for its Canadian deployment. This partnership allows Consensus Core to offer Nvidia-powered GPU-as-a-Service for tasks like machine learning and 3D rendering, leveraging Cologix's hyperscale and interconnected facilities to meet customer demands.

OVHcloud

(Undisclosed)

34

U/C & In Planning

QScale

Q02

(Undisclosed)

36 (est.)

In Planning

CUSHMAN & WAKEFIELD | AMERICAS DATA CENTER MARKET OVERVIEW