TeraWulf Inc. entered into a Warrant Subscription Agreements with certain investors 2,380,952 warrants, each exercisable to purchase one share of the Company's Common Stock at an exercise price of $0.00001 per share on January 27, 2023 and subscription agreement for private placement of 1,383,353 common shares at an issue price of $0.68 per share for gross proceeds of $940,000 on February 1, 2023. The private placement is exempt from registration under Section 4(a)(2) and/or Regulation D under the Securities Act. The expected date of payment is February 2, 2023.

The warrants will expire on December 31, 2023.