TERAWULF INC. — Director's Dealing 2025

Dec 12, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TERAWULF INC. (WULF)
CIK: 0001083301
Period of Report: 2025-11-13

Reporting Person: Bucella Michael C. (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-12-09	Common stock, $0.001 par value per share	M	35487	—	Acquired	262780	Direct
2025-11-13	Common stock, $0.001 par value per share	P	4178	$12.01	Acquired	266958	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-09	Series A Convertible Preferred Stock	$	M	250	Disposed		Common stock, $0.001 par value per share (35487)	Direct

Footnotes

F1: As of the date of the event requiring the filing of this report, the 250 shares of Series A Convertible Preferred Stock (the "Preferred Stock") were converted into 35,487 shares of common stock, par value $0.001 per share, via a mandatory conversion by the Issuer of all of the shares of its Preferred Stock pursuant to Sec. 10(c) of the Certificate of Designations of the Preferred Stock, at a conversion price of $10.00 per share of Preferred Stock, as previously disclosed on the Issuer's current report on Form 8-K filed on November 25, 2025.

F2: The price reported in Column 4 is a weighted average price. The shares were purchased in multiple transactions at prices ranging from $11.80 - $12.03, inclusive. The Reporting Person undertakes to provide to the staff of the Securities and Exchange Commission, to any security holder of the Issuer, or to the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range set forth above.