[Nebius’ GPU hourly price increased by more than 20% on average in the third quarter, and short-term cluster prices exceeded twice the reservation price] On November 12, Nebius Group stated in its third quarter shareholder letter that the GPU hourly price in the third quarter increased by more than 20% on average compared with the second quarter, and the annual contract value per megawatt (ACV/MW) exceeded US$25 million, which was higher than the US$20 million to US$25 million in the second quarter. The company launched a new computing power pricing mechanism, in which the reserved computing power auction transaction price is more than 15% higher than the reserve price, some real-time spot prices exceed on-demand prices, and short-term cluster prices are more than twice the reserved price.