Iris Energy Investor Presentation — December 2022

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DECEMBER 2022 | NASDAQ: IRENInvestor Update

Everything changes, everything remains the sameDisclaimer

Forward -Looking Statements

This presentation includes “forward -looking statements” within themeaning ofthePrivate Securities Litigation

Reform Actof1995. Forward -looking statements generally relate tofuture events orIrisEnergy’s future financial

oroperating performance .Forexample, forward -looking statements include butarenotlimited totheCompany’s

business strategy, expected operational and financial results and expected increase inpower capacity and

hashrate .Insome cases, you can identify forward -looking statements byterminology such as“anticipate,”

“believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,”

“expect,” “intend,” “target,” “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” orthenegatives ofthese

terms orvariations ofthem orsimilar terminology, buttheabsence ofthese words does notmean thatstatement

isnotforward -looking .Such forward -looking statements aresubject torisks, uncertainties, andother factors which

could cause actual results todiffer materially from those expressed orimplied bysuch forward looking statements.

Inaddition, any statements orinformation that refer toexpectations, beliefs, plans, projections, objectives,

performance orother characterizations offuture events orcircumstances, including anyunderlying assumptions,

areforward -looking.

These forward -looking statements are based onmanagement’s current expectations and beliefs .These

statements areneither promises norguarantees, butinvolve known and unknown risks, uncertainties and other

important factors that may cause IrisEnergy’s actual results, performance orachievements tobematerially

different from any future results, performance orachievements expressed orimplied bytheforward -looking

statements, including, butnotlimited to:IrisEnergy’s limited operating history with operating losses ;electricity

outage, limitation ofelectricity supply orincrease inelectricity costs ;long term outage orlimitation oftheinternet

connection atIrisEnergy’s sites ;anycritical failure ofkeyelectrical ordata center equipment; serial defects or

underperformance with respect toIrisEnergy’s equipment; failure ofsuppliers toperform under therelevant

supply contracts forequipment that hasalready been procured which may delay IrisEnergy’s expansion plans ;

supply chain andlogistics issues forIrisEnergy orIrisEnergy’s suppliers; cancellation orwithdrawal ofrequired

operating and other permits and licenses; customary risks indeveloping greenfield infrastructure projects; Iris