Exascale Labs and D. Boral ARC Acquisition I Corp. Announce Shareholder Approval of Business Combination (Form 8-K)

Exascale Labs and D. Boral ARC Acquisition I Corp. Announce Shareholder Approval of Business Combination

SAN FRANCISCO, July 29, 2026 (GLOBE NEWSWIRE) - Exascale Labs Inc. ("Exascale"), a provider of next-generation AI compute infrastructure, and D. Boral ARC Acquisition I Corp. (Nasdaq: BCAR) ("BCAR"), a special purpose acquisition company, today announced that at the Extraordinary General Meeting of Shareholders of BCAR (the "Meeting") held today, Wednesday, July 29, 2026, BCAR's shareholders voted to approve the previously announced business combination between Exascale and BCAR (the "Business Combination"), as well as all other proposals related to the Business Combination considered and voted upon at the Meeting.

BCAR and Exascale expect the Business Combination to be completed shortly, subject to the satisfaction or waiver of remaining closing conditions. Upon closing, the combined company ("PubCo") is expected to operate as Exascale Labs Holdings Inc. and its shares of Class A common stock and warrants are expected to trade on Nasdaq under the ticker symbols "XLAB" And "XLABW," respectively.

Following redemptions by BCAR shareholders in connection with the Meeting, there is approximately $12 million remaining in BCAR's trust account, which amount, net of transaction expenses, will be available to PubCo at closing. The amount retained in the trust account satisfies the minimum cash closing condition under the terms of the business combination agreement. Exascale and BCAR do not currently anticipate pursuing any additional financing prior to closing the transaction.

The results of the Meeting, as tabulated by an independent inspector of elections, will be included in a current report on Form 8-K to be filed by BCAR with the U.S. Securities and Exchange Commission (the "SEC").

About D. Boral ARC Acquisition I Corp.

BCAR is a special purpose acquisition company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

About Exascale

Exascale is a next-generation AI infrastructure provider operating an asset-light, software-defined GPU compute platform and related AI infrastructure solutions. Exascale's core business includes GPU-as-a-Service, through which it provides reserved and on-demand access to high-performance GPU compute capacity sourced from third-party data centers globally, as well as GPU cluster management and optimization services for AI data center operators.

In addition, Exascale has developed certain modular data center, high-density cooling, HVDC power and energy storage solutions designed to address deployment bottlenecks in AI infrastructure. Exascale's platform is purpose-built for large-scale AI workloads, including LLM training, fine-tuning, and high-concurrency inference. For more information about Exascale, please visit: https://www.exascalelabs.ai