Supporting evidence

• LedgerRevenue +355% YoY (Q1 FY2026)
• LedgerSolid quarter based on: Major AI Cloud contract with NVIDIA · Strategic partnership with NVIDIA · Transition to GPU-based workloads · Strong projected Annual Recurring Revenue (ARR).
• EventMajor Contract Win

• EventStrategic Partnership
• EventAI Infrastructure Focus
• EventThis agreement is crucial for IREN's AI strategy, enabling it to service its managed services AI cloud contract and significantly boost its projected ARR.
• EventThis financing provides significant capital for general corporate purposes, working capital, and funding capped call transactions, supporting IREN's growth and strategic initiative…
• EventThis partnership validates IREN's role in the AI infrastructure ecosystem and contributes significantly to its projected ARR.
• InitiativeSignificant progress made with the Dell purchase agreement for Blackwell systems and targeting commissioning in early 2027. Energized Sweetwater 1 substation and advanced Horizon 1…
• InitiativeGPU financing is advancing.
• InitiativeContinued transitioning existing data centers.
• EventCustomer concentration risk with Microsoft and NVIDIA
• EventExecution risk in deploying new GPU infrastructure