Iron Mountain to Expand EMEA Data Center Footprint with Agreement to Acquire Frankfurt Data Center

Second data center in Frankfurt will add 10.6 megawatts to meet enterprise, edge & hyperscale customer demand in this critical global data center market

Iron Mountain Incorporated (NYSE: IRM), the global leader in innovative storage and information management services, today announced that they have entered into an agreement to acquire a data center in Frankfurt from Calcium DC Pte. Ltd. The data center is a two-story, 20,000 square meter colocation data center site on freehold land in the Am Martinszehnten Industrial Park, which is in close proximity to the city center and Frankfurt Airport. The EUR 76 million transaction is expected to close within the next 90 days subject to customary closing conditions.

The facility currently has 2.6 megawatts of leased capacity and 8 megawatts of capacity available for retail colocation customers with the option to expand in the future to add Edge computing at the premises. The data center has robust network connectivity, including access to DE-CIX, one of the world’s largest internet exchanges. The acquisition expands Iron Mountain’s presence in the Frankfurt market, which includes a 27 megawatt pre-leased facility in Frankfurt (FRA-1), and enables the company to add immediate capacity and to build out a team in a market with strong long-term demand.

“This latest investment in one of the most sought-after European markets further solidifies our commitment to invest in the global markets where our customers need us,” stated Mark Kidd, Executive Vice President and General Manager of Data Centers at Iron Mountain. “As a leading global data center provider, we are pleased to continue to meet the key growth milestones that this acquisition, and the recently announced expansion in London, represent.”

Frankfurt is a strong global data center market due to its position as one of Europe’s major commercial and financial hubs. Additionally, Frankfurt offers rich connectivity to network fabrics and service providers as well as a strong power supply.

In addition to the agreement to acquire the Frankfurt data center, Iron Mountain recently announced further expansion in Europe with a 27 megawatt data center build in London (LON-2), in addition to 9 megawatts of leasable capacity at its LON-1 data center. The Company also announced a recent joint venture with Web Werks, one of the top data center providers in India, adding three Tier 3, carrier-neutral data centers in Mumbai, Pune and Delhi to their global footprint.

“We are thrilled to be adding an additional data center in Frankfurt to our global platform as it will meet the high demand we are seeing from our enterprise, edge and hyperscale customers in the Frankfurt market,” said Eric Boonstra, Vice President and General Manager, Europe at Iron Mountain Data Centers.

Additional highlights of the acquired Frankfurt data center include:

• Uptime Tier III-equivalent specifications
• Enterprise & Hyperscale ready with ability to scale
• Peering & Network density: carrier-neutral access to networks, leading global peering exchanges (DE-CIX on site) and the ability to connect to public-cloud on-ramps
• Operational reliability & excellence
• Stringent security standards

Iron Mountain's global data center platform consists of 15 operational facilities across 13 markets and three continents. Including the new Frankfurt data center and the recently closed Web Werks joint venture, Iron Mountain’s data center platform can support nearly 460 megawatts of IT capacity at full build-out, including leasable capacity, land, and buildings held for future development.

For more information on Iron Mountain Data Centers, visit https://www.ironmountain.com/data-centers.

About Iron Mountain

Iron Mountain Incorporated (NYSE: IRM) is the global leader in innovative storage and information management services, storing and protecting billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Founded in 1951 and trusted by more than 225,000 customers worldwide, Iron Mountain helps customers CLIMB HIGHER™ to transform their businesses. Through a range of services including digital transformation, data centers, secure records storage, information management, secure destruction, and art storage and logistics, Iron Mountain helps businesses bring light to their dark data, enabling customers to unlock value and intelligence from their stored digital and physical assets at speed and with security, while helping them meet their environmental goals.

To learn more about Iron Mountain, please visit: www.IronMountain.com and follow @IronMountain on Twitter and LinkedIn.

Forward Looking Statements

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws and is subject to the safe-harbor created by such Act. Forward-looking statements include, but are not, limited to statements concerning the closing of the announced acquisition. When we use words such as "believes," "expects," "anticipates," "estimates" or similar expressions, we are making forward-looking statements. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations. Although we believe that our forward looking statements are based on reasonable assumptions, our expected results may not be achieved, and actual results may differ materially from our expectations.

These forward-looking statements are subject to various known and unknown risks, uncertainties and other factors. Important factors that could cause actual results to differ from expectations include (i) the impact of the COVID-19 outbreak on our business, operations and financial condition, (ii) our ability to remain qualified for taxation as a real estate investment trust for U.S. federal income tax purposes; (iii) the adoption of alternative technologies and shifts by our customers to storage of data through non-paper based technologies; (iv) changes in customer preferences and demand for our storage and information management services; (v) the cost and our ability to comply with laws, regulations and customer demands relating to data security and privacy issues, as well as fire and safety standards; (vi) our ability or inability to execute our strategic growth plan, expand internationally, complete acquisitions on satisfactory terms, and to integrate acquired companies efficiently; (vii) changes in the amount of our growth and recurring capital expenditures and our ability to raise capital and invest according to plan; (viii) the impact of litigation or disputes that may arise in connection with incidents in which we fail to protect our customers' information or our internal records or IT systems and the impact of such incidents on our reputation and ability to compete; (ix) our ability to execute on Project Summit and the potential impacts of Project Summit on our ability to retain and recruit employees and execute on our strategy (x) changes in the price for our storage and information management services relative to the cost of providing such storage and information management services; (xi) changes in the political and economic environments in the countries in which our international subsidiaries operate and changes in the global political climate; (xii) the impact of executing on our growth strategy through joint ventures; (xii) our ability to comply with our existing debt obligations and restrictions in our debt instruments or to obtain additional financing to meet our working capital needs; (xiv) the impact of service interruptions or equipment damage and the cost of power on our data center operations; (xv) changes in the cost of our debt; (xvi) the impact of alternative, more attractive investments on dividends; (xvii) the cost or potential liabilities associated with real estate necessary for our business; (xviii) the performance of business partners upon whom we depend for technical assistance or management expertise; (xix) other trends in competitive or economic conditions affecting our financial condition or results of operations not presently contemplated; and (xx) other risks described more fully in our filings with the Securities and Exchange Commission, including under the caption “Risk Factors” in our periodic reports or incorporated therein. You should not rely upon forward-looking statements except as statements of our present intentions and of our present expectations, which may or may not occur. Except as required by law, we undertake no obligation to release publicly the result of any revision to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

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