Iris Energy Investor Presentation — May 2024 - Iris Energy

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Third Quarter FY 2024

MAY 15, 2024 | NASDAQ: IRENDisclaimer

Forward -Looking Statements

This investor update includes “forward- looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.

Forward -looking statements generally relate to future events or IREN’s future financial or operating performance. For example, f orward -

looking statements include but are not limited to the Company’s business strategy, expected operational and financial results , and expected

increase in power capacity and hashrate. In some cases, you can identify forward- looking statements by terminology such as “anti cipate,”

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

“will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” or the negatives of these terms or variations of them or similar terminology,

but the absence of these words does not mean that statement is not forward- looking. Such forward -looking statements are subject to risks,

uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by suc h forward -looking

statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, perf ormance or other

characterizations of future events or circumstances, including any underlying assumptions, are forward- looking.

These forward -looking statements are based on management’s current expectations and beliefs. These statements are neither promis es nor

guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause IREN’s actual resul ts,performance

or achievements to be materially different from any future results performance or achievements expressed or implied by the fo rward looking

statements, including, but not limited to: Bitcoin price and foreign currency exchange rate fluctuations; IREN’s ability to o btain additional

capital on commercially reasonable terms and in a timely manner to meet its capital needs and facilitate its expansion plans; the terms of any

future financing or any refinancing, restructuring or modification to the terms of any future financing, which could require IREN to comply with

onerous covenants or restrictions, and its ability to service its debt obligations, any of which could restrict our business operations and

adversely impact our financial condition, cash flows and results of operations; IREN’s ability to successfully execute on its growth strategies and

operating plans, including its ability to continue to develop its existing data center sites and to diversify into the market for high performance