Awassi Group Files 13G, Disclosing 6.25M IREN Shares (2.41%)

Rhea-AI Filing Summary

Schedule 13G/A (Amendment 2) filed 3 July 2025 discloses that The Awassi Capital Trust #2, Awassi Capital Holdings 2 Pty Ltd and Daniel John Roberts jointly own 6,251,247 ordinary shares of IREN Limited. This represents 2.41 % of IREN’s outstanding equity as of the event date 30 June 2025.

All voting and dispositive authority is shared; none of the three reporting persons holds sole power over the securities. The filing is made on Schedule 13G rather than 13D, signalling a passive investment posture with no intent to influence control. Because the stake is below the 5 % threshold, the group is no longer considered a “significant beneficial owner” under SEC rules, limiting its ability to affect governance matters or strategic direction.

• Reporting persons: The Awassi Capital Trust #2; Awassi Capital Holdings 2 Pty Ltd; Daniel John Roberts (all Australian)
• Shares owned: 6,251,247
• Percent of class: 2.41 %
• Sole voting/dispositive power: 0
• Shared voting/dispositive power: 6,251,247

No additional agreements, transactions, or changes of control are reported, and the certification states the information is true and complete.

Positive

• None.

Negative

• Awassi group holds only 2.41 % of IREN, below the 5 % significance threshold, implying limited influence on future governance or strategic decisions.

Insights

Securities Analyst

Passive holders report 2.41% IREN stake; below 5% threshold; minimal influence, neutral market impact.

The filing shows Awassi-linked entities and founder Daniel Roberts collectively hold 6.25 million IREN shares. At 2.41 % of outstanding stock, the position falls short of the 5 % level that would make them a material shareholder. Because all authority is designated as “shared” and the form chosen is Schedule 13G, the group signals a non-activist stance. Absent prior disclosure data, we cannot confirm whether shares were sold; however, the size indicates limited governance leverage and is unlikely to drive price action. I view the disclosure as routine and largely immaterial for valuation or strategic outlook.

Corporate Governance Expert

Stake below 5% removes Awassi group from significant-holder status, easing governance scrutiny.

SEC rules grant heightened visibility and potential influence to owners above 5 %. By reporting only 2.41 %, Awassi Capital Trust #2 and affiliates effectively step out of that category. Their voting and dispositive powers are entirely shared, underscoring the passive nature of the investment. No joint-filing agreement suggests activism or control intent. From a governance perspective, IREN’s board and other investors need not account for this group as a blocking or catalysing force in shareholder proposals. The impact on corporate decision-making is therefore negligible.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

IREN Limited

(Name of Issuer)

Ordinary Shares

(Title of Class of Securities)

Q4982l109

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. Q4982l109

1

Names of Reporting Persons

The Awassi Capital Trust #2

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,251,247.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,251,247.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,251,247.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.41 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. Q4982l109

1

Names of Reporting Persons

Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978)

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,251,247.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,251,247.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,251,247.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.41 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. Q4982l109

1

Names of Reporting Persons

Daniel John Roberts

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 6,251,247.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 6,251,247.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

6,251,247.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.41 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: IREN Limited
(b)	Address of issuer's principal executive offices: Level 6, 55 Market Street Sydney, NSW C3 2000
Item 2.
(a)	Name of person filing: The Awassi Capital Trust #2 Awassi Capital Holdings 2 Pty Ltd (CAN 629 819 978) ("Awassi Capital 2") Daniel John Roberts
(b)	Address or principal business office or, if none, residence: c/o IREN Limited Level 6, 55 Market Street Sydney, NSW 2000 Australia
(c)	Citizenship: Each of The Awassi Capital Trust #2 and Awassi Capital 2 is organized under the laws of Australia. Mr. Roberts is a citizen of Australia.
(d)	Title of class of securities: Ordinary Shares
(e)	CUSIP No.: Q4982l109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The Awassi Capital Trust #2: 6,251,247 Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978): 6,251,247 Daniel John Roberts: 6,251,247
(b)	Percent of class: The Awassi Capital Trust #2: 2.41% Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978): 2.41% Daniel John Roberts: 2.41%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The Awassi Capital Trust #2: 0 Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978): 0 Daniel John Roberts: 0
	(ii) Shared power to vote or to direct the vote: The Awassi Capital Trust #2: 6,251,247 Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978): 6,251,247 Daniel John Roberts: 6,251,247
	(iii) Sole power to dispose or to direct the disposition of: The Awassi Capital Trust #2: 0 Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978): 0 Daniel John Roberts: 0
	(iv) Shared power to dispose or to direct the disposition of: The Awassi Capital Trust #2: 6,251,247 Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978): 6,251,247 Daniel John Roberts: 6,251,247
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Awassi Capital Trust #2

Signature:	/s/ Daniel John Roberts
Name/Title:	Director
Date:	07/03/2025

Awassi Capital Holdings 2 Pty Ltd (ACN 629 819 978)

Signature:	/s/ Daniel John Roberts
Name/Title:	Director
Date:	07/03/2025

Daniel John Roberts

Signature:	/s/ Daniel John Roberts
Name/Title:	Daniel John Roberts
Date:	07/03/2025

Exhibit Information

Joint Filing Agreement

FAQ

How many IREN shares do the Awassi entities report owning?

They jointly report 6,251,247 ordinary shares.

What percentage of IREN’s outstanding shares does this represent?

The filing lists ownership of 2.41 % of the class.

Is the Awassi group considered a significant beneficial owner?

No. At 2.41 %, the stake is below the 5 % significant-owner threshold.

Do the reporting persons have sole voting or dispositive power?

No. All voting and dispositive authority is shared; sole power is 0.

Why was Schedule 13G used instead of Schedule 13D?

Schedule 13G indicates a passive investment with no intention to influence control.

When did the ownership position become reportable?

The triggering event date is 30 June 2025; the filing was signed on 3 July 2025.