Bank of Nova Scotia discloses 39,824,376 TeraWulf (WULF) shares, a 7.7% stake

Rhea-AI Filing Summary

Bank of Nova Scotia, a Canadian parent holding company, reports beneficial ownership of 39,824,376 shares of TeraWulf Inc. common stock, representing 7.7% of the class of $0.001 par value shares.

The institution holds sole power to vote and to dispose of all reported shares, with no shared voting or dispositive power. It also certifies that its foreign regulatory scheme is substantially comparable to that of functionally equivalent U.S. institutions and agrees to provide additional information to Commission staff upon request.

Key Figures

Beneficial ownership: 39,824,376 shares Ownership percentage: 7.7% Sole voting power: 39,824,376 shares +2 more

5 metrics

Beneficial ownership 39,824,376 shares Shares of TeraWulf Inc. common stock beneficially owned by Bank of Nova Scotia

Ownership percentage 7.7% Percent of TeraWulf Inc. common stock class held by Bank of Nova Scotia

Sole voting power 39,824,376 shares Shares over which Bank of Nova Scotia has sole power to vote or direct the vote

Sole dispositive power 39,824,376 shares Shares over which Bank of Nova Scotia has sole power to dispose or direct disposition

Signature date 07/15/2026 Date the ownership and regulatory certification were signed

Key Terms

beneficially owned, sole voting power, sole dispositive power, parent holding company, +2 more

6 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 39,824,376"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"5 | Sole Voting Power 39,824,376.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"7 | Sole Dispositive Power 39,824,376.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

parent holding company regulatory

"A parent holding company, in accordance with 13d-1(b)(i)(ii)(g)"

foreign regulatory scheme regulatory

"the foreign regulatory scheme applicable to The Bank of Nova Scotia"

Schedule 13D regulatory

"information that would otherwise be disclosed in a Schedule 13D"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 07/15/2026 - 11:19 AM Accepted by SEC EDGAR 07/15/2026 - 11:18 AM Learn about SEC filing dates

FAQ

How many TeraWulf (WULF) shares does Bank of Nova Scotia report owning?

Bank of Nova Scotia reports beneficial ownership of 39,824,376 TeraWulf common shares. This position equals 7.7% of the company’s common stock and is held with sole voting and dispositive power, meaning no other party shares control over these shares.

What percentage of TeraWulf (WULF) is held by Bank of Nova Scotia?

Bank of Nova Scotia reports holding 7.7% of TeraWulf’s outstanding common stock. This ownership is reported on a beneficial basis and reflects the total shares over which the institution has sole voting and dispositive authority, without any shared control with other holders.

Does Bank of Nova Scotia share voting power over its TeraWulf (WULF) shares?

No. Bank of Nova Scotia reports sole voting power over 39,824,376 TeraWulf shares and no shared voting power. It likewise has sole dispositive power over the same number of shares, indicating exclusive authority to direct voting and disposition decisions for this position.

What type of investor is Bank of Nova Scotia in relation to TeraWulf (WULF)?

Bank of Nova Scotia identifies itself as a parent holding company for this TeraWulf stake. It files in that capacity and notes that it operates under a Canadian federal regulatory scheme considered substantially comparable to that of functionally similar U.S. financial institutions.

Who signed the ownership report for TeraWulf (WULF) on behalf of Bank of Nova Scotia?

The report is signed by Raj Sachdeva, identified as Vice President and Head of GBM&T, Compliance Canada. The signature is dated 07/15/2026, confirming the certification regarding the bank’s regulatory framework and its undertaking to provide additional information if requested.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TERAWULF INC.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

88080TAB0

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 88080TAB0

1

Names of Reporting Persons

BANK OF NOVA SCOTIA

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

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 39,824,376.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 39,824,376.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

39,824,376.00

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)

7.70 %

12

Type of Reporting Person (See Instructions)

FI

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TERAWULF INC.
(b)	Address of issuer's principal executive offices: 9 FEDERAL STREET, EASTON, MARYLAND 21601
Item 2.
(a)	Name of person filing: BANK OF NOVA SCOTIA
(b)	Address or principal business office or, if none, residence: 40 TEMPERANCE STREET TORONTO, Ontario, Canada M5H 0B4
(c)	Citizenship: BANK OF NOVA SCOTIA - CANADA (FEDERAL LEVEL)
(d)	Title of class of securities: Common Stock, $0.001 par value per share
(e)	CUSIP No.: 88080TAB0
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).
	A parent holding company, in accordance with 13d-1(b)(i)(ii)(g)
Item 4.	Ownership
(a)	Amount beneficially owned: 39,824,376
(b)	Percent of class: 7.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: BANK OF NOVA SCOTIA - 39,824,376
	(ii) Shared power to vote or to direct the vote: BANK OF NOVA SCOTIA - 0
	(iii) Sole power to dispose or to direct the disposition of: BANK OF NOVA SCOTIA - 39,824,376
	(iv) Shared power to dispose or to direct the disposition of: BANK OF NOVA SCOTIA - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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:
	By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to The Bank of Nova Scotia is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D.

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.

BANK OF NOVA SCOTIA

Signature:	Raj Sachdeva
Name/Title:	Vice President, Head of GBM&T, Compliance Canada
Date:	07/15/2026