TeraWulf WULF Aggregate purchase price

In October 2022, the Company entered into unit subscription agreements with certain accredited investors in privately negotiated transactions (collectively, the “October Purchasers”) as part of a private placement (the “October Private Placement”) exempt from registration under the Securities Act. Pursuant to the agreements, the Company sold 7,481,747 units, each consisting of one share of Common Stock and one warrant (the “October Warrants”), exercisable at a price of $1.93 per Common Share, to the October Purchasers for an aggregate purchase price of approximately $9.4 million. Approximately $3.5 million of the aggregate purchase price related to investments by entities controlled by members of Company management. The Company allocated the proceeds between Common Stock and the October Warrants based on the relative fair values of the financial instruments, with $5.1 million allocated to the Common Stock and $4.3 million allocated to the October Warrants. During the three and six months ended June 30, 2026, 3,174,604 and 3,492,064 October Warrants were exercised for issuance of 3,028,754 and 3,346,214 shares of Common Stock for aggregate proceeds to the Company of $3.1 million and $3.7 million, respectively. No October Warrants were exercised during the three and six months ended June 30, 2025. As of June 30, 2026, there were 2,837,302 of the October Warrants outstanding. The October Warrants are classified as equity in the condensed consolidated balance sheets as of June 30, 2026 and December 31, 2025.