TeraWulf authorizes $200M buyback and plans $350M convertible note offering

TERAWULF INC.

Board approved up to $200M share repurchase through Dec 31, 2025, using excess cash after HPC/AI capex.
Company plans $350M private offering of convertible senior notes due 2030, with $75M greenshoe option.
Net proceeds to fund capped call costs, share repurchases, and general corporate purposes.
Convertible notes will be senior unsecured, interest payable semi-annually beginning May 1, 2025.
Capped call transactions expected to reduce dilution upon conversion; notes not registered under Securities Act.

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