#United States #Dallas #Fermi America #Project Matador #Toby Neugebauer

Fermi Inc. Engages Shareholders with Important Announcement

Fermi Inc., trading as Fermi America™, recently took significant steps to protect the interests of its shareholders. The company has initiated the mailing of a Consent Revocation Statement along with a WHITE Consent Revocation Card to its investors, responding to actions taken by former CEO Toby Neugebauer. Neugebauer is seeking to convene a Special Meeting of Shareholders which the Fermi Board strongly advises against, emphasizing a focus on long-term value creation for investors instead.

Overview of the Situation

As of June 15, 2026, Fermi Inc. has made it clear that no Special Meeting has been called, as Neugebauer does not have the necessary support. In fact, his previous tenure saw Fermi's stock drop by over 80% since its IPO, raising concerns about his potential motives. The Board's communication urges shareholders to sign and return the WHITE Consent Revocation Card to maintain focus on advancing the company’s robust growth initiatives, including Fermi 2.0 and Project Matador.

Under Neugebauer’s leadership, serious management issues arose, including misrepresentations and disruptions that led to his termination in April 2026. Now, as he attempts to regain control for personal agenda advancement, the Board has staunchly opposed his efforts, arguing that such actions could derail the current momentum towards progress.

The Board's Conviction

The Fermi Board of Directors issued a letter to shareholders asserting that backing Neugebauer would potentially jeopardize the company’s trajectory towards long-term growth and stability. They highlighted achieved milestones and reaffirmed commitment to ongoing projects that promise to bolster shareholder value, positioning the firm for success in the highly competitive market of private electric grids.

The management team expressed confidence in their ability to deliver substantial value to shareholders while emphasizing that significant engagement with strategic partners has re-accelerated since Neugebauer’s departure. Key initiatives that have gained traction include:

• - Establishing relationships with construction firms and financial partners that were previously hesitant to engage with the former leadership.
• - Progressing on site development that can accommodate up to 17 gigawatts of energy power.
• - Securing significant financing commitments, improving financial health and operational capacity.

Finally, the Board has initiated a search for a highly qualified permanent CEO, benefiting from industry-recognized recruitment expertise.

Reassurance to Shareholders

The overarching message from the Board stresses the importance of rejecting any distractions posed by the potential Special Meeting. They reassured shareholders that, at this pivotal point in Fermi’s growth trajectory, their support in completing and returning the WHITE Consent Revocation Card is crucial. This action signifies a desire to keep the current management team focused on their mission: maximizing long-term shareholder value and delivering measurable results from ongoing projects.

Conclusion

Fermi America is at an essential juncture in its development, with notable advancements in key projects. As the company continues to progress towards solidifying its place in the market, shareholder investment and support are more important than ever. This call to action reflects a significant commitment from the Board to safeguard investors from self-serving tactics that do not align with their best interests. The landscape around energy and AI technology is evolving, and Fermi is committed to leading the charge safely and sustainably, fostering a bright future for its stakeholders.

For further updates and engagement, shareholders are encouraged to stay connected and follow official communications from Fermi Inc.