Nebius

Control: Nebius Group N.V. is a Dutch (Amsterdam) public limited company listed on Nasdaq. Public shareholder-registry summaries (WallStreetZen/Nasdaq/Fintel, July 2026) show a widely dispersed float: ~48.8% institutional, ~38.6% retail, ~12.6% insiders, with co-founder/CEO Arkady Volozh the largest individual holder at ~11.6% — well below a controlling stake. No single shareholder, government, or corporate parent has been identified as holding a controlling/majority position or board-appointment control.

Ownership: NUANCE FOR OWNER REVIEW: Nebius Group N.V. is the entity formerly known as Yandex N.V. (Dutch parent of the Russian search/tech group). In July 2024 it divested all Russian operating businesses to a consortium of local (Russian) investors and rebranded as Nebius Group, retaining only the non-Russian AI-infrastructure business; it is Nasdaq-listed (ticker NBIS) with no dual-class share structure identified. NVIDIA holds a small equity stake (~0.5%, plus a further ~$2bn investment announced March 2026) but this is a minority financial investment, not board/voting control. Given the company's Yandex heritage and geopolitical sensitivity, this no-foreign-control determination is made on the objective ownership evidence available and should be revisited if a controlling shareholder or state actor emerges.

Note: GPU capacity is hosted in Nebius's own Mäntsälä, Finland campus and a colocation cluster at Equinix PA10, Saint-Denis (Paris), France; the company is also building additional capacity in Finland (Lappeenranta) and near Lille, France. CLOUD Act exposure not addressed on the trust center pages reviewed; recorded as unknown rather than assumed.