TERAWULF INC.

We are a vertically integrated owner, developer, and operator of large-scale digital infrastructure in the United States, purpose-built to support high-performance computing ( HPC ) workloads, including artificial intelligence ( AI ), machine learning, and advanced cloud applications. Our strategy is grounded in controlling infrastructure at utility scale and pairing compute optimized facilities with reliable, long duration power resources. By controlling land use through ownership or long-term ground leases, together with interconnection rights, electrical and cooling infrastructure, and, where applicable, on-site generation, we deliver resilient, cost-efficient capacity to hyperscale and enterprise customers through long-term hosting arrangements. This infrastructure-first approach enables TeraWulf to serve Tier-1 counterparties while maintaining operational control, development flexibility, and disciplined capital allocation. Our platform is differentiated by long-term control of utility-scale infrastructure, deep in-house power and grid expertise, and a scalable development model supported by long-term, credit-enhanced customer contracts. HPC Platform and Development Pipeline Our contracted HPC platform currently consists of two primary campuses: Lake Mariner Data Campus (the Lake Mariner Data Campus ), located in Barker, New York within the single-state New York Independent System Operator ( NYISO ) market; and Abernathy HPC Campus (the Abernathy HPC Campus ), located in Abernathy, Texas, within the Southwest Power Pool (SPP).