TERAWULF INC.

Building Long-Term Infrastructure Value

TeraWulf is an energy infrastructure company, pairing long-term access to power with contracted AI and high-performance computing (“HPC”) demand. Rather than investing in AI compute hardware, the Company develops and operates the underlying infrastructure, supported by long-term leases, investment-grade credit protections and disciplined capital allocation.

The Justified milestones follow TeraWulf’s recent expansion of contracted power capacity to 1 GW at its Muskie Data Campus in eastern Kentucky, reflecting continued progress across its development portfolio.

“Ultimately, megawatts alone do not create shareholder value,” Prager concluded. “What gives us confidence is what we have in the ground, what we have under contract, the investment-grade credit supporting those commitments and a team with decades of experience delivering large-scale infrastructure. We remain focused on execution and converting that foundation into durable cash flow and long-term value per share.”