TERAWULF INC. — Director's Dealing 2022

Mar 18, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TERAWULF INC. (WULF)
CIK: 0001083301
Period of Report: 2022-03-16

Reporting Person: Revolve Capital LLC (10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-16	Series A Convertible Preferred Stock	$	P	2500.0000	Acquired		Common Stock (250000.0000)	Direct

Footnotes

F1: Each holder of shares of the Issuer's Series A Convertible Preferred Stock (the "Preferred Stock") has the right, at its option and at any time, to convert all or a portion of the shares of Preferred Stock that it holds into a number of shares of Common Stock equal to the quotient obtained by dividing (i) the sum of (x) the Liquidation Preference (as defined in the Certificate of Designations governing the Preferred Stock (the "Certificate"), initially $1,000) and (y) an amount equal to accumulated and unpaid Regular Dividends (as defined in the Certificate) on such share of Preferred Stock, by (ii) the Conversion Price (as defined in the Certificate) in effect at such time, subject to customary antidilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events. As of the date of the event requiring the filing of this report, 2,500 shares of Preferred Stock reported on this report are convertible into 250,000 shares of Common Stock.

F2: The Preferred Stock does not expire.