Believes Riot Is Well Positioned to Execute High-Quality AI/HPC Deals for Its 1.7 GW of Fully Available Power

Believes Riot's Corsicana and Rockdale Sites Are Two of the Premier Sites for AI/HPC Hosting and Should Command Attractive Deal Economics

Urges Riot to Seize This Opportunity with Urgency

Starboard Value LP (together with its affiliates, "Starboard"), a significant stockholder of Riot Platforms, Inc. ("Riot Platforms", "Riot", or the "Company") (NASDAQ:RIOT), today announced that it has delivered a letter to Jason Les, Riot Platforms' Chief Executive Officer, and Benjamin Yi, the Company's Executive Chairman, with a copy to the Company's Board of Directors.

The full text of Starboard's letter to the Company can be viewed here.

About Starboard Value LP

Starboard Value LP is an investment adviser with a focused and differentiated fundamental approach to investing in publicly traded companies. Starboard invests in deeply undervalued companies and actively engages with management teams and boards of directors to identify and execute on opportunities to unlock value for the benefit of all shareholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260218046322/en/

Investor contacts:

Peter Feld, (212) 201-4878

Gavin Molinelli, (212) 201-4828

www.starboardvalue.com

Starboard Delivers Letter to Riot Platforms