Iren Limited · NASDAQ:IREN
Iren — Iris Energy — FY2024 Earnings Presentation
13 slides from Iren's earnings presentation, Aug 28, 2024
Slide 1: FY24 Results Presentation
FY24 Results Presentation NASDAQ: IREN August 28, 2024 DISCLAIMER Forward-Looking Statements ‘This investor update includes “forward looking statements” within the meaning ofthe Private Securtes Ligation Reform Act of 1995 Forward looking statements generally slate to future events or IREN'sfunare f
Slide 2: Business Snapshot
BUSINESS SNAPSHOT Bitcoin Mining eae Al Cloud Services fia Data Centers +t Power & Land Portfolio Be Mehl a Bitéoin Mining 15 EH4 installed (30 EH/s in 2024) 816 NVIDIA H100 GPUs Fleet fully utilized 300MW operating (SIOMW in 2024) 2,310MW secured power capacity 1GW+ development pipeline
Slide 3: Note: Refer to assumptions and notes on page
Note: Refer to assumptions and notes on page 23
Slide 4: ✓ ✓ Note: Refer to assumptions and notes on page • • • •
✓ ✓ Note: Refer to assumptions and notes on page 23 • • • • •
Slide 5: AI Cloud Services NVIDIA H100 GPUs, servicing multiple customers
Al CLOUD SERVICES 816 NVIDIA H100 GPUs, servicing multiple customers + Al Cloud Services revenue continues to scale - both revenue and number of customers + Launching GPU pilot at Childress in H2 2024 + Poolside recently extended contract, expected to roll off Aug 30: + Poolside consolidating cluste
Slide 6: Portfolio MW
% PORTFOLIO 510 MW data centers in 2024 2,310 MW grid-connected power secured 1GW+ development pipeline 80 MW | Mackenzie, BC 50 MW | Prince George, BC 30 MW | Canal Flats, BC 750 MW | Childress, TX 1400 MW | West Texas, TX p 4 i
Slide 7: Design for IREN's Texas Tier Data Center
• • Design for IREN’s Texas Tier 3 Data Center ✓ ✓ ✓ ✓ ✓ Note: Refer to assumptions and notes on page 23
Slide 8: Adjusted EBITDA — FY24 vs. FY23
ADJUSTED EBITDA — FY24 vs. FY23 Adjusted EBITDA of $54.7m for the year ended June 30, 2024 Bitcoin mining revenue increased from $75.5m to $184.1m + 66% increase in operating hashrate (6.6 EH/s 10 9.3 EH/s)® + 29% increase in BTC mined (8,259 BTC to 4,191 BTC) + 89% increase in average price realise
Slide 9: Balance Sheet
BALANCE SHEET As at June 30, 2024 lussm ‘As at June 30, 2024 + Cash and cash equivalents of $404,6m Assets ~ Nodebt ieelies Cash and cash equivalents 4046 689 + Total assets of $11530m Other receivables 294 65 * Total equity increased to $1,097.3m with gross proceeds of $822.9m Total current assets
Slide 10: Consolidated Statement of Profit or Loss — FY24 vs. FY23
CONSOLIDATED STATEMENT OF PROFIT OR LOSS — FY24 vs. FY23 + FY24 Loss after income tax of $(29.0]m, being a decreased loss of $142.9m + Improvement primarily due to increase in Bitcoin mining revenue and no impairment recorded in FY24 + Key non-cash items in the FY24 loss after income tax of $(29.0)}
Slide 11: Consolidated Statement of Profit or Loss — 4Q FY24 vs. 3Q FY24
CONSOLIDATED STATEMENT OF PROFIT OR LOSS — 4Q FY24 vs. 3Q FY24 geet + 4Q.FY24 Loss after income tax of $(27.1}m + Decrease primarily due to increase depreciation and electricity charges and relatively flat Bitcoin mining revenue Revenue Bitcoin mining revenue 543 53a + Key non-cash items in the 4Q F
Slide 12: Assumptions and Notes
ASSUMPTIONS AND NOTES Page 6 Building cost reflects internal estimates for Phases 2-5 data centers at Childress, excluding substation costs. Page 8 Actual Power Price reflects act now eligible ACP benefit Spot Power Price calculated using historical real-time power prices in ERCOT West Load Zone, re
Slide 13: Thank You