TERAWULF INC.

Finance Services·EASTON, MD·FY end 12/31·CIK 1083301

CEO Pay Ratio

—

Paul Prager

CEO Total Comp

$39.4M

Paul Prager

Median Employee

—

Revenue

$168.5M

FY 2025

Net Income

-$661.4M

FY 2025

Free Cash Flow

-$1.2B

FY 2025

Net Margin

-392.6%

Insider Net (180d)

0 buys / 0 sales

CEO Pay Accountability

CEO comp as % of net income

-5.96%

For every $1,000 of profit, $-59.59 flows to the CEO.

CEO comp as % of buybacks

118.38%

CEO comp equals 1183.8‰ of cash returned to shareholders via buybacks.

5-year history · USD

Metric	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	Trend
Revenue	$168.5M	—	—	—	—	—
Gross Profit	$66.0M	—	$41.9M	$4.0M	—
Operating Income	-$186.2M	-$76.2M	-$29.4M	-$43.7M	-$41.7M
Net Income	-$661.4M	-$72.4M	-$73.4M	-$90.8M	-$94.0M
Operating CF	-$123.2M	-$24.4M	$4.3M	-$34.1M	-$24.1M
Capex	$1.1B	$267.9M	$75.2M	$61.1M	$85.4M
Free Cash Flow	-$1.2B	-$292.4M	-$70.9M	-$95.2M	-$109.5M
Buybacks	$33.3M	$118.2M	—	—	—
Dividends	—	—	—	—	—	—

Gross Margin	39.2%	—	—	—	—	—
Operating Margin	-110.5%	—	—	—	—	—
Net Margin	-392.6%	—	—	—	—	—
FCF Margin	-702.5%	—	—	—	—	—
R&D / Revenue	—	—	—	—	—	—
Effective Tax	-0.0%	0.0%	0.0%	0.3%	1.4%
Debt / Equity	43.80	—	0.56	1.68	1.54
Buybacks / FCF	-2.8%	-40.4%	—	—	—

FY 2025

Executive	Salary	Stock	Options	Bonus / Inc.	Other	Total
Paul PragerChief Executive Officer and Chairman of the Board of Directors	$1.0M	$23.2M	—	$15.0M	$259.6K	$39.4M
Nazar KhanChief Technology Officer and Director	$750.4K	$19.2M	—	$10.0M	$133.1K	$30.1M
Kerri LanglaisChief Strategy Officer and Director	$500.4K	$12.6M	—	$7.0M	$88.6K	$20.2M
Patrick FleuryChief Financial Officer	$500.4K	$12.6M	—	$7.0M	$33.4K	$20.1M
William TanimotoChief Accounting Officer	$245.8K	$612.9K	—	$180.0K	$12.4K	$1.1M
Kenneth DeaneFormer Chief Accounting Officer and Treasurer	$175.1K	$436.8K	—	—	$16.2K	$628.1K