Dell Technologies

On May 19, 2026, IE US Hardware 4 Inc. (“IE US Hardware”), a wholly owned subsidiary of IREN Limited (the “Company”), and Dell Marketing L.P. (“Dell”) entered into purchase documentation (the “Dell Purchase Agreement”) pursuant to which Dell will supply to IE US Hardware GPUs and ancillary products and services (“GPUs”) for an aggregate purchase price of approximately $1.6 billion payable in installments within 30 days of each tranche shipping.

On March 4, 2026, IE CA Leasing Ltd. (“IE CA Leasing”), a wholly owned subsidiary of IREN Limited (the “Company”), and Dell Canada Inc. (“Dell Canada”) entered into purchase documentation (the “Dell Canada Purchase Agreement”) pursuant to which Dell Canada will supply to IE CA Leasing GPUs and ancillary products and services, scheduled to be delivered in phases during the second half of 2026, for an aggregate purchase price of approximately $2.3 billion payable in installments within 30 days of each tranche shipping.

On March 4, 2026, IE US Hardware 4 Inc. (“IE US Hardware”), an indirect wholly owned subsidiary of the Company, and Dell Marketing L.P. (“Dell USA”) entered into purchase documentation (the “Dell USA Purchase Agreement” and, together with the Dell Canada Purchase Agreement, the “Dell Purchase Agreements”) pursuant to which Dell USA will supply to IE US Hardware GPUs and ancillary products and services, scheduled to be delivered in phases during the second half of 2026, for an aggregate purchase price of approximately $1.2 billion payable in installments within 30 days of each tranche shipping.

BUZZ will be deploying a 63 node cluster of liquid-cooled Dell PowerEdge XE9680L servers operating 504 of the latest generation GPUs optimized for AI compute, delivered through Dell Integrated Rack Scalable Systems (IRSS). Delivery and installation of the fully-integrated Dell IR5000 racks will be in the Bell AI Fabric data center. This builds on BUZZ's existing partnership with Bell, enabling the expansion of its sovereign AI Cloud.

The Dell Purchase Agreement contains customary representations, warranties, covenants, indemnities and termination rights. The Company has agreed to unconditionally guarantee the obligations of IE US Hardware 3 under the Dell Purchase Agreement. ... for an aggregate purchase price of approximately $5.8 billion payable in installments within 30 days of each tranche shipping.