IREN Limited Enters into $1.6bn GPU Purchase Agreement with Dell

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for GPUs and ancillary products and services totaling approximately $1.6 billion. The GPUs will be deployed at IREN's Childress, Texas campus to support its $3.4 billion managed services AI cloud contract, expected to increase IREN's annualized run-rate revenue from $3.7 billion to $4.4 billion upon commissioning in early 2027. The agreement includes customary representations, warranties, covenants, indemnities, and termination rights, with IREN unconditionally guaranteeing the obligations of IE US Hardware under the agreement.

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About Iren Ltd.

Iren Ltd. is an energy company primarily engaged in the generation, distribution, and sale of electricity, heat, and gas throughout Italy. The company plays a crucial role in providing essential energy services to residential, commercial, and industrial sectors. It is a key player in the Italian energy market with a diverse portfolio that includes renewable energy sources, thus contributing to the country’s energy transition and sustainability goals. Iren Ltd. also actively participates in the development and management of integrated water services and environmental services, offering solutions for waste collection, treatment, and disposal. With its strategic focus on innovation and energy efficiency, the company is dedicated to enhancing its infrastructure and service quality. Iren Ltd.'s initiatives in smart city solutions and district heating projects further underscore its commitment to technological advancement and environmental sustainability. As an integral part of the Italian utility sector, Iren Ltd. works to balance energy demand with ecological responsibility, supporting the modernization of urban areas and contributing to the overall stability and development of the regional energy landscape.