With a 240 VAC supply, there should be 2 hots and a neutral. Terminal 1 has to be a hot, but terminal’s 2 and 3 can be either the neutral or the second leg, so you could wire it L1, N, L2 or L1, L2, N; it doesn’t matter.
Edit: In the previous post, @deon.korb seems to be saying that you can also wire it with 120VAC by duplicating the neutral and it will work as well: L1, N, N
Yeah I guess my bigger issue was that no where it said (3) was for comms. I’d assume (2) is not for comms. And originally assumed (3) was not for comms either because it didnt state it was. I guess they just assume its common sense. Something I clearly must not have. lol.