Digital Infrastructure REITs

“28 IRON MOUNTAIN 2025 FORM 10-K Table of Contents Part II Cost of sales (excluding depreciation and amortization) and Selling, general and administrative expenses for the year ended December 31, 2025 consists of the following: COST OF SALES SELLING, GENERAL AND ADMINISTRATIVE EXPENSES Trends in facility occupancy costs are impacted by: • the total number of facilities we occupy; • the mix of properties we own versus properties we lease; • fluctuations in per square foot occupancy costs; • the levels of utilization of these properties; and • data center power costs.”

IRM 10-K · 2026-02-12

“We have assets for foreign net operating losses of $146.3 million and foreign disallowed interest expense carryforwards of $46.6 million, with various expiration dates (and in some cases no expiration date), subject to valuation allowances of approximately 77.5% and 26.8%, respectively.”

IRM 10-K · 2026-02-12

“umulated depreciation of buildings, building improvements and data center infrastructure as of December 31, 2025 that are subject to financing leases, which is included in the total accumulated depreciation of property, plant and equipment on our Consolidated Balance Sheet, but excluded from Schedule III, as disclosed in Footnote 1 to Schedule III.”

IRM 10-K · 2026-02-12