Fermi Inc Regulatory News (FRMI)

Fermi America™ Files Second Clean Air Permit Application with TCEQ for 5 GW of Additional Power for its Project Matador Private Grid

• TCEQ Issued Fermi America's First ~6 GW Clean Air Permit on February 25, 2025

• As Promised, New 5 GW Application Filed Within Weeks of the Site's First 6 GW Clean Air Permit Approval

• With a Potential 11 GW of Clean Natural Gas, 4.4 GW of Nuclear, Solar and Battery Power, Campus Targets 17 GW of Capacity

​

(AMARILLO, Texas) March 30, 2026 -- Fermi Inc. (d/b/a Fermi America) (NASDAQ & LSE: FRMI), operating as Fermi America™ today filed an additional 5 GW Clean Air Permit Application with the Texas Commission on Environmental Quality (TCEQ).

The filing, made directly on the heels of Project Matador's first approved 6 GW Clean Air Permit last month reflects Fermi's target of ~17 GW of total power including 11 GW of clean natural gas, combined with nuclear energy, solar and battery sources.

"America's hyperscalers need power certainty at a scale that the grid simply can't accommodate at this time," said Toby Neugbauer, Co- founder and CEO of Fermi America. "While the industry looks to add measurable power to the grid in the coming years, Fermi has already secured the assets to bring ~2.5 GW of gas-fired power generation (in combined cycle) online."

America's energy needs are surging across every sector - from AI and advanced computing to domestic manufacturing, defense, and industrial reshoring. Fermi's private power grid is being built to meet the need without expecting hard-working Americans to foot the bill.

As the only private power grid of its kind with over 2 GW of secured long lead time generation assets, an approved ~6 GW Clean Air Permit, a filed 5 GW Clean Air Permit Application, committed equipment finance, and a clear path to 17 GW of power, Fermi America is positioned to meet hyperscaler demand so that America's great innovators can continue to grow with the sense of urgency that this moment in time demands.

For media inquiries:

Lexi Swearingen

Media@FermiAmerica.com

Fermi America™ official business information

Legal Entity: Fermi Inc. (d/b/a Fermi America) (NASDAQ & LSE: FRMI)

Brand Name: Fermi America™

Address: 620 S Taylor St #301 Amarillo, TX 79101-2436

Website: https://fermiamerica.com/

About Fermi America™:

Fermi America™ (NASDAQ & LSE: FRMI) is an advanced energy and hyperscaler development company with a mission to power the future of artificial intelligence directly to the world's most compute-intensive businesses through its flagship initiative, Project Matador. Co-founded by former U.S. Energy Secretary Rick Perry and Co-Founder and former Co-Managing Partner of Quantum Energy Partners Toby Neugebauer, Fermi America™ combines a deep bench of proven world-class multi-disciplinary leaders and over 2 GW of secured long lead time natural gas generation assets to build the world's largest next-gen private grid campus. Ultimately constructing 17 GW of private, low-carbon, on-demand power, Project Matador is expected to integrate a large combined-cycle natural gas project, advanced nuclear power generation, utility grid power, solar power, and battery energy storage to support hyperscale AI and advanced compute at scale.

Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "will be," "will likely result," "should," "expects," "plans," "anticipates," "could," "would," "foresees," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "outlook," or "continue" or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.