THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA, AUSTRALIA, NEW ZEALAND, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR TRANSMITTED, DISTRIBUTED TO, OR SENT BY, ANY NATIONAL OR RESIDENT OR CITIZEN OF ANY SUCH COUNTRIES OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION MAY CONTRAVENE LOCAL SECURITIES LAWS OR REGULATIONS.

For immediate release

Fermi Inc.

Admission to Trading on the London Stock Exchange

2 October 2025 - Fermi Inc. (NASDAQ and LSE: FRMI) ("Fermi" or the "Company"), the Texas-based company focused on developing electric grids that deliver on-demand power at gigawatt scale required to create next-generation artificial intelligence, is pleased to announce that all of its issued shares, consisting of 592,797,623 shares of Common Stock, have today been admitted to the Equity Shares (International Commercial Companies Secondary Listing) category of the Official List of the UK's Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange ("LSE") ("Admission") under the ticker "FRMI". Admission to trading on the LSE follows Fermi's listing on Nasdaq on 1 October 2025.

Admission follows the publication of the Company's Prospectus on 1 October 2025 which is available on the Company's website at fermiamerica.com/investor-relations.

Project Matador, a 5,236-acre site in Amarillo, Texas, plans to deliver up to 11 gigawatts of low-carbon, behind-the-meter power by building a HyperGrid™ that is expected to house one of the largest nuclear power complexes in America, with combined-cycle natural gas, utility grid power, solar power, and battery energy storage, to support the power needs of artificial intelligence at scale.

Toby Neugebauer, CEO of Fermi, commented: "The market understands that AI and chips are only as good as the power that supports them. 

This IPO injects significant capital onto our balance sheet, enabling us to continue locking up long lead-time items and executing at the velocity of the last ten months which will be required to deliver power at scale. We are very pleased with the strong investor demand for our IPO in both London and New York, and remain laser-focused on execution, which will add stakeholder value and help America win the race to powering the future of AI."

UBS Investment Bank, Berenberg, Ocean Wall, Panmure Liberum and Rothschild & Co are acting as financial advisers to the Company.

About Fermi

Fermi is focused on developing electric grids that deliver on-demand power at gigawatt scale, required to create next-generation artificial intelligence. Project Matador, a 5,236-acre site in Amarillo, Texas, plans to deliver up to 11 gigawatts of low-carbon, behind-the-meter power by building a HyperGrid™ that is expected to house one of the largest nuclear power complexes in America, with combined-cycle natural gas, utility grid power, solar power, and battery energy storage, to support the power needs of artificial intelligence at scale.

fermiamerica.com/investor-relations

Enquiries:

Lexi Swearingen

[email protected]

Tavistock  - 020 7920 3150 / [email protected] 

Jos Simson

Simon Hudson

Nick Dibden

Financial Advisers

For further information, please visit the Investor Relations section of our website at: fermiamerica.com/investor-relations

IMPORTANT NOTICE

Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not purchase or subscribe for any shares referred to in this announcement by Fermi Inc. ("Fermi" or the "Company" and, together with its subsidiaries, the "Group") in connection with admission of its shares to the Equity Shares (International Commercial Companies Secondary Listing ) category of the Official List of the FCA and to trading on the main market for listed securities of the London Stock Exchange ("Admission").

The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may or should be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The information in this announcement is subject to change.

This announcement does not constitute or form part of an offer to sell or issue, or a solicitation of an offer to subscribe for or buy any shares, and investors should not purchase or subscribe for any shares referred to in this announcement. Neither this announcement nor anything contained herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction.

Neither this announcement, nor the information contained within it, is for publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia, New Zealand, Canada, Japan, The Republic of South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement or the information contained within it may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Each of UBS Investment Bank, Berenberg, Ocean Wall, Panmure Liberum and Rothschild & Co (together, the "Financial Advisers") are acting exclusively for the Company and for no other person in connection with Admission. Each of the Financial Advisers will not regard any other person (whether or not a recipient of this announcement) as its respective client in relation to Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in relation to Admission or any transaction, matter, or arrangement referred to in this announcement.

None of the Financial Advisers nor any of its affiliates and/or any of its or its affiliates' directors, officers, employees, advisers and/or agents or any other person accepts any responsibility or liability whatsoever for the contents of, or makes any representation or warranty, express or implied, as to, the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) and/or any other information relating to the Company and/or its subsidiaries and associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available, or for any loss howsoever arising from any use of the announcement or its contents or otherwise arising in connection therewith. Accordingly, each Financial Adviser and its affiliates, its or its affiliates' respective directors, officers or employees, and any other person acting on their behalf expressly disclaims, to the fullest extent possible, any and all liability whatsoever for any loss howsoever arising from, or in reliance upon, the whole or any part of the contents of this announcement, whether in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

This announcement contains "forward-looking statements" and "forward-looking information" that are based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business and growth strategies with respect to Project Matador, or Company's plan, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations. Generally, this forward looking information can be identified by the use of forward-looking terminology such as "outlook", "anticipate", "project", "target", "likely", "believe", "estimate", "expect", "intend", "may", "would", "could", "should", "scheduled", "will", "plan", "forecast", "evolve", "seek", "position" and similar expressions.

Persons reading this announcement are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. These statements speak only as of the date of this announcement. Actual operational and financial results or events may differ materially from the Company's expectations contained in the forward-looking statements as a result of various factors, many of which are beyond the control of the Company.