TERAWULF INC. — Director's Dealing 2022

Mar 17, 2022

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TERAWULF INC. (WULF)
CIK: 0001083301
Period of Report: 2022-03-15

Reporting Person: New Jason Griffin (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2022-03-15	Series A Convertible Stock	$	A	500	Acquired		Common Stock (50000)	Indirect

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, initially $1,000) and (y) an amount equal to accumulated and unpaid Regular Dividends (as defined in the Certificate of Designations) on such shares of Preferred Stock, by (ii) the Conversion Price (as defined in the Certificate of Designations) in effect at such time, subject to customary antidilution adjustments, including in the event of any stock split, stock dividend, recapitalization or similar events.

F2: As of the date of the event requiring the filing of this report, the 50 shares of Preferred Stock reported on this report are convertible into 50,000 shares of Common Stock. The Issuer's Preferred Stock does not expire.

F3: By Y Club 101, LLC. The Reporting Person is a managing member of Y Club 101, LLC and, as a result, may be deemed to beneficially own the shares of the Preferred Stock held by Y Club 101, LLC. The Reporting Person disclaims beneficial ownership of such shares of the Preferred Stock except to the extent of his pecuniary interest therein, and the inclusion of such shares of the Preferred Stock in this report shall not be deemed an admission of beneficial ownership of all of the reported shares of the Preferred Stock for purposes of Section 16 of the Exchange Act, or for any other purpose.