Terawulf

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-09-10 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: TERAWULF INC. (WULF) CIK: 0001083301 --- Reporting Owner --- Name: Khan Nazar M. CIK: 0001877476 Role: Director, Officer (Chief Technology Officer) --- Derivative Transactions --- [Transaction #1] Security: Forward sale contract (obligation to sell) Date: 2026-09-10 | Code: J (Other acquisition/disposition) Shares: -350,000 Shares Owned After: 0 | Ownership: I (Indirect) | Nature: By Lake Harriet Holdings, LLC Footnotes: [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F3] By Lake Harriet Holdings. The Nazar M. Khan Revocable Trust ("Khan Revocable Trust") is the sole member of Lake Harriet Holdings. Nazar M. Khan (the "Reporting Person") is the sole trustee of the Khan Revocable Trust and may be deemed to have the power to direct the voting and disposition of the Common Stock beneficially owned by the Khan Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Securities Exchange Act of 1934, as amended, the Reporting Person may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Khan Revocable Trust. [Transaction #2] Security: Forward sale contract (obligation to sell) Date: 2026-09-10 | Code: J (Other acquisition/disposition) Shares: +350,000 Shares Owned After: 350,000 | Ownership: I (Indirect) | Nature: By Lake Harriet Holdings, LLC Footnotes: [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F1] On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. [F2] (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. [F3] By Lake Harriet Holdings. The Nazar M. Khan Revocable Trust ("Khan Revocable Trust") is the sole member of Lake Harriet Holdings. Nazar M. Khan (the "Reporting Person") is the sole trustee of the Khan Revocable Trust and may be deemed to have the power to direct the voting and disposition of the Common Stock beneficially owned by the Khan Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Securities Exchange Act of 1934, as amended, the Reporting Person may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Khan Revocable Trust. --- Footnotes (Complete Index) --- F1: On September 19, 2025, Lake Harriet Holdings, LLC ("Lake Harriet Holdings") entered into a prepaid variable share forward contract / loan facility (the "Original Contract") with an unaffiliated dealer with a pledge of up to a maximum of 350,000 shares of common stock, par value $0.001 per share ("Common Stock"), of TeraWulf Inc. On September 10, 2026, Lake Harriet Holdings amended and restated the Original Contract (the "Amended Contract"), which extended the settlement date of the Original Contract from September 21, 2026 to September 10, 2027 and amended certain other terms of the Original Contract. F2: (Continued from footnote 1) The Amended Contract can be settled in cash or Common Stock and/or refinanced, at Lake Harriet Holdings' option. In exchange for assuming the obligation under the Original Contract, Lake Harriet Holdings received a cash payment in September 2025. Pursuant to the Amended Contract, Lake Harriet Holdings received an additional cash payment / loan from the dealer and pledged 350,000 shares of Common Stock (the "Pledged Shares"). Lake Harriet Holdings retains dividend and voting rights in the Pledged Shares during the term of the pledge. F3: By Lake Harriet Holdings. The Nazar M. Khan Revocable Trust ("Khan Revocable Trust") is the sole member of Lake Harriet Holdings. Nazar M. Khan (the "Reporting Person") is the sole trustee of the Khan Revocable Trust and may be deemed to have the power to direct the voting and disposition of the Common Stock beneficially owned by the Khan Revocable Trust. Accordingly, pursuant to the regulations promulgated under Section 13(d) of the Securities Exchange Act of 1934, as amended, the Reporting Person may be deemed to be a beneficial owner of the shares of Common Stock held for the account of the Khan Revocable Trust. --- Signature --- /s/ /s/ Nazar M. Khan (2026-09-11)