IREN

AI Cloud Services • 816 NVIDIA H100 GPUs, servicing multiple customers o AI Cloud Services revenue continues to scale o Launching Childress GPU pilot in H2 2024 o Poolside recently extended contract, expected to roll-off August 30, 2024: Consolidating clusters with [...]

Extension: Contract recently extended; expected to roll-off August 30, 2024

816 NVIDIA H100 GPUs operating ... 504 GPUs contracted with Poolside AI

AI Cloud Services revenue of $0.6 million, following the commissioning of 248 NVIDIA H100 GPUs during the quarter for our customer, Poolside AI ... Upsized (doubled to 504 GPUs) and extended our AI Cloud Services agreement with Poolside AI

AI Cloud Services ... 816 NVIDIA H100 GPUs ... Upsized (doubled to 504 GPUs) and extended AI cloud services agreement with Poolside

IREN has upsized and extended its AI cloud services agreement with poolside, more than doubling the contracted cluster size from 248 to 504 NVIDIA H100 GPUs. The contract is for an additional 4-month term commencing mid-April, 2024, with an extension option for a further 2 months at the customer’s election.

Extension: 2-month extension option at customer's election

Contract secured with leading AI company, poolside, following rigorous customer testing requirements ... Initial 3-month term and extension option for an additional 3-months at the customer's election

Extension: Extension option for an additional 3 months at customer's election

Blackwell GPUs procured – 1.3k B200s & 1.1k B300s to be installed at Prince George over the coming months, lifting total fleet to 4.3k NVIDIA GPUs and unlocking next-gen training and inference at scale

IREN today announced the purchase of 2.4k next-generation NVIDIA Blackwell B200 and B300 GPUs for ~$130m, including fit-out costs. ... The order (1.3k B200 and 1.1k B300 GPUs) will be installed over the coming months at IREN's Prince George, BC campus

New 600MW grid connection agreement signed ... This month, we secured an additional 600MW of grid-connected capacity, reflecting years of groundwork and bringing our total secured power capacity in West Texas to 2.75GW.

On March 17, 2025, IREN Limited (the “Company”) released a press release announcing the signing of a 600MW grid connection agreement with AEP Texas Inc. ... The Company expects to pay $4.1 million in non-refundable connection costs and $26.9 million in refundable deposits over the next 12 months. The project has an expected energization date in late 2027.

Tripling AI cloud services business ... Fast-tracking AI cloud services business to 816 NVIDIA H100 GPUs with the purchase of 568 additional GPUs ... Delivery and commissioning of additional GPUs expected during Q2 2024

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 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.

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.