Iris Energy Investor Presentation — May 2022

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FY22 Third Quarter Results MAY 2022 | NASDAQ: IRENBitcoin mining. Done Sustainably.

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 or

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

business strategy, expected operational andfinancial results andexpected increase inpower capacity andhashrate .

Insome cases, youcanidentify 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 or

similar terminology, buttheabsence ofthese words does notmean that statement isnotforward -looking. Such

forward -looking statements aresubject torisks, uncertainties, andother factors which could cause actual results to

differ materially from those expressed orimplied bysuch forward looking statements .Inaddition, anystatements or

information thatrefer toexpectations, beliefs, plans, projections, objectives, performance orother characterizations

offuture events orcircumstances, including anyunderlying assumptions, areforward -looking.

These forward- looking statements arebased onmanagement’s current expectations andbeliefs .These statements

areneither promises norguarantees, butinvolve known andunknown risks, uncertainties andother important factors

thatmay cause IrisEnergy’s actual results, performance orachievements tobematerially different from anyfuture

results, performance orachievements expressed orimplied bytheforward -looking statements, including, butnot

limited 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 orunderperformance with respect toIris

Energy’s equipment; failure ofsuppliers toperform under therelevant supply contracts forequipment that has

already been procured which may delay IrisEnergy’s expansion plans ;supply chain and logistics issues forIris

Energy orIrisEnergy’s suppliers ;cancellation orwithdrawal ofrequired operating and other permits and licenses ;

customary risks indeveloping greenfield infrastructure projects ;IrisEnergy’s evolving business model andstrategy ;