Iren Limited · NASDAQ:IREN
Iren — Iris Energy — Investor Day (July 2024)
17 slides from Iren's investor day presentation, Jul 23, 2024
Slide 1: Analyst & Investor Presentation
Analyst & Investor Presentation July 23, 2024 New York, NY DISCLAIMER Forward-Looking Statements ‘This investor update nclcesYormard-ooking statements” within the masring of the Private Secures tigation Raform Act of 195. Forward-looking sttemants generally rte o future events or REN's ture nancial
Slide 2: Agenda
AGENDA Topic Time Presenter Welcome 11:00am — 11:10am Daniel Roberts, Co-Founder & Co-CEO Operations 11:10am — 11:30pm David Shaw, Chief Operating Officer Next-Generation Data Centers 11:30am — 11:45pm Denis Skrinnikoff, Chief Technology Officer Commercial Strategy 11:45am — 12:00pm Kent Draper, Chi
Slide 3: Challenging the Status Quo
CHALLENGING THE STATUS QUO @5) “You cant operate ASICs * Cold climates used to be the focus for Bitcoin mining in the heat” + Even manufacturers didn’t believe ASICs could operate at 110° F “You cant operate GPUs ¢ Alworld didn’t believe we could operate GPUs with air-cooling * Weare not dogmatic an
Slide 4: Operations
Operations David Shaw Chief Operating Officer PORTFOLIO 510 MW data centers in 2024 2,160 MW secured power capacity 1GW+ development pipeline 80 MW | Mackenzie, BC 50 MW | Prince George, BC 30 MW | Canal Flats, BC 600 MW | Childress, TX 1400 MW | West Texas, TX
Slide 5: Operations: Track Record of Growth & Delivery
OPERATIONS i Vertically integrated Supporting power-dense workloads NVIDIA H100 GPUs Land Grid-Connected Power is Data Centers <> Compute Prince George Data Center ASICs & GPUs TRACK RECORD OF GROWTH & DELIVERY = Disciplined approach to procurement and Operating Data Centers (MW) construction drivin
Slide 6: Childress Capacity
CHILDRESS CAPACITY a 250MW immediately available power for 2025 expansion Next-Generation Data Centers Denis Skrinnikoff Chief Technology Officer
Slide 7: Data Centers: The New Compute
Recent HPC team hires / Solutions Engineer DevOps Engineers / Systems Engineers Network Engineers / InfiniBand Enginee Data Center Technicians / Commercial Managers Marketing Managers DATA CENTERS — “THE NEW COMPUTE” ag Challenges faced by traditional data centers TREN next-generation data center pe
Slide 8: Automated curtailment event at Childress on May 27, 2024
Automated curtailment event at Childress on May 27, 2024Substation Power Analytics Dashboard ✓ ✓ ✓ ✓ • •
Slide 9: FAQs: Cooling and Network
oe Cooling ey “Is liquid cooling with access to large water resources required for AI workloads?” ¥ Sustainability considerations driving data center industry away from liquid cooling systems with high water consumption v Evaporative liquid cooling systems rely on a continuous water supply, while cl
Slide 10: Commercial Strategy
Commercial Strategy Kent Draper Chief Commercial Officer DEVELOPMENT PROCESS Can take 4-7years to energize a greenfield development
Slide 11: Development Process: Select Market and Identify Sites
DEVELOPMENT PROCESS Select Market Our priorities when selecting sites ¥ Low-cost, abundant renewable energy v Bankable jurisdictions v Large-scale power access v Reliable grids 2 DEVELOPMENT PROCESS Identify Sites We conduct initial feasibility and development studies to identify suitable areas ¥ Po
Slide 12: Development Process: Secure Land and Development
DEVELOPMENT PROCESS Secure Land We option or purchase land After further site diligence, we engage land brokers to secure large contiguous land parcels close to the transmission network 23 DEVELOPMENT PROCESS Development -_ Infrastructure-experienced team closely manages extensive development activi
Slide 13: Development Process: Utility Interconnection and Procurement
DEVELOPMENT PROCESS Securing a utility interconnection — the current bottleneck Connection * Commission formal connection studies to determine total power available at site * Inparallel with development approvals, obtain grid regulator approval (eg. ERCOT) * Sign connection agreement with utility to
Slide 14: IREN Texas and Prince George Designs
• • • IREN Texas - Tier 3 Rendering IREN Prince George - Retrofit Conceptual Design IREN Prince George - Current GPU Deployment Accommodating Customer Preferences
Slide 15: Design for IREN's Texas Tier Data Center
Design for IREN’s Texas Tier 3 Data Center • • THE ABOVE INFORMATION IS FOR GENERAL INFORMATION AND ILLUSTRATIVE PURPOSES ONLY. THE BITCOIN MINING, AI CLOUD SERVICES AND AI COLOCATION ANNUAL REVENUE PER MW, HARDWARE PROFIT MARGIN, INFRASTRCUTURE CPAEX PER MW AND HARDWARE CAPEX PER MW OUTPUTS ARE FOR
Slide 16: Power and land portfolio; Assumptions and Notes
eo >3000MW power and land portfolio Solving the power Demonstrated track record : f —andcommitmenttovalue and infrastructure creation. ° crunch, by getting Bitcoin mining provides a head of rea L-world foundation for continued growth constraints. Monetizing into new and high value use cases includin
Slide 17: Q&A / Thank you