Texas Energy Report

In response to recent reporting by @TexasTribune regarding Fermi’s Board of Directors, we want to clarify that Governor Rick Perry has not been removed from Fermi’s Board of Directors. In fact, both Governor Perry and Jeffrey Stein received a majority of the votes cast by shareholders. The proposal failed to achieve the required approval threshold following what the company believes was a breach of contractual voting obligations by the Neugebauer shareholders. Let’s be clear: Governor Perry and Mr. Stein remain members of Fermi’s Board of Directors and will continue serving until their successors are duly elected. Both remain eligible for reelection. Fermi remains focused on advancing Project Matador, delivering critical American energy infrastructure, and creating long-term value for its shareholders. We will not allow one disgruntled shareholder to distract from that mission to the detriment of the Company.