Toby Neugebauer

Project Matador is incredible, but to maximize its full value for all shareholders, we need new leadership on Fermi’s board. John T. Jimenez is part of that. Here’s him in his own words: “Having spent my career in the energy sector, I understand the importance of developing industry scalable solutions — and Fermi possesses tremendous potential to deliver on this front. An independent, highly-qualified board is needed to unlock this potential and maximize value for all shareholders while guiding the company into its next phase of growth.” Read more on what our nominees are saying at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

My message to Fermi shareholders: It’s official: now that we have filed definitive solicitation materials with the SEC, it is our time to call the Special Meeting to elect and empower a fully independent Board majority who are committed to doing what it takes to benefit all shareholders, including consideration of a full-value transaction alongside the existing standalone plan. I encourage all shareholders to join me in calling the Special Meeting because it’s time you determine Fermi’s future. Shareholders should promptly return their GREEN agent designation card to call a Special Meeting to vote on a new independent Board majority committed to maximizing your investment. Learn more here: UnlockFermiValue.com Additional Information: prnewswire.com/news-releases/…

Our slate of highly-qualified, independent director nominees is uniquely positioned to lead Fermi into its next stage of growth. David A. Daglio, who will help steward us on M&A and institutional strategy, noted the following: “For Fermi to deliver maximum value for shareholders, it needs a board that has a complete understanding of the asset, extensive investment advisory experience, and the independence required to execute an objective strategic process. My fellow nominees and I bring the required credentials to guide the company into its next chapter, benefiting all stakeholders.” Read what our nominees are saying at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

“Like any public company, Fermi and its shareholders benefit from an independent board; with no prior connection to Fermi or Toby, I am committed to approaching this with complete objectivity and stewarding Fermi in the appropriate direction while unlocking maximum value for shareholders.” –Charles M. Elson, Fermi Board Nominee Charles is a renowned corporate governance subject matter expert whose knowledge and experience will help lead us forward on best practices for true governance hygiene and accountability to shareholders. In advance of our proposed Special Meeting of Shareholders, it’s important everyone has the opportunity to hear directly from our highly-qualified, independent director nominees. Read what our nominees are saying at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

“I accepted this nomination with the purpose of exercising good governance and independence. Fermi is a promising company operating in a critical sector at a critical time. I have no prior association with Toby or the company. Everything I do will be in the best interest of shareholders and maximizing value.” That’s what Sheila Hooda, a nominee to the Fermi board and one of the leading voices on transformational strategy and risk oversight, had to say about the company. Read what our nominees are saying at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

“Fermi possesses a unique and highly strategic underlying asset with significant value potential. As the company enters its next phase of development, I believe shareholders would benefit from a board that brings additional capital markets, capital allocation, governance, and public company oversight experience with a fresh perspective to help maximize the value of that asset for all shareholders. I and my fellow nominees come to this opportunity with complete independence from the company’s historical management, board dynamics, and stakeholder relationships. This independence allows us to evaluate opportunities, risks, financing alternatives, and strategic decisions objectively, guided solely by our fiduciary duties and our commitment to enhancing shareholder value for all owners of the company.”- Janet Yang, Fermi Board Nominee Read what our nominees are saying at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

For more than a decade, Juan A. Pujadas served in various leadership roles at PwC. At his retirement, Juan was the Vice Chairman, Global Advisory Services of PwC International Limited, London, UK. Juan is a trusted voice on important capital markets and governance issues, further exhibited by his service on the board of directors of Wells Fargo & Company, where he was a member of the Finance Committee and the Risk Committee. Juan will be a value-add to the Fermi board. You can learn more about Juan and the full slate of highly-qualified, independent directors at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

CEO of Alpha Advisory Partners, Sheila Hooda’s former senior executive leadership positions include roles at TIAA, Credit Suisse Investment Bank, Thomson Reuters and Bankers Trust across the United States, Europe and Asia. An extremely experienced director and committee chair, Sheila currently serves on several boards, including that of Enact Holdings, Inc., where she chairs the Nominating & Governance Committee, and Alera Group, Inc., a fast growth GenStar and Flexpoint Ford private equity portfolio company. To run an independent process, we need independent directors on the board. Sheila Hooda brings that independence and valuable governance, capital markets and M&A expertise, and I’m honored she is willing to serve in this capacity at this critical time.  You can learn more about Sheila, and all of our nominees, at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

As the former EVP and CFO of W&T Offshore, Inc., Janet Yang was responsible for $1.7 billion in financing transactions and led key strategic initiatives. Janet is also an experienced director, complete with service on several boards in the precious metals sector, and she brings a deep knowledge of the energy sector. The reality is we need a board that understands the full value of Project Matador and can lead us on the path to maximizing its value for all shareholders. That board includes leaders like Janet and her fellow nominees. You can learn more about the full slate of highly-qualified, independent directors at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

Previously serving on the board of directors of BP Energy Company, a subsidiary of BP Plc, board nominee John T. Jimenez also served as the CFO of an energy company focused on natural gas production, power generation, and carbon capture. While there, he played a critical role in the company's expansion and led capital formation, joint ventures, acquisitions, and governance initiatives that contributed to a $1 billion-plus increase in shareholder value. Project Matador is an incredible asset, and we need a board that understands that asset and how to maximize its value. John’s energy industry understanding is robust and will help us run a process that maximizes value for all shareholders. You can learn more about John and all of our nominees at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

The board we’ve put forth runs deep with corporate governance experience, a specialty of nominee Charles M. Elson. Charles is a widely-recognized leader in corporate governance best practices, including serving as Executive Editor-at-Large at Directors & Boards magazine, a publication for public and private company directors and C-suite executives, and has decades of leadership in this area across academia and other leading organizations. In addition, Charles is an experienced public company director. He can help restore the kind of leadership and direction Fermi needs to maximize value for all shareholders. You can learn more about Charles, and all of our nominees, at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

As we continue to drive towards maximizing value for all Fermi shareholders, it’s important that stakeholders have the opportunity to learn about the independent board nominees that will get us there. That starts with David A. Daglio Jr., who will help steward the M&A and institutional strategy. Former CIO of Mellon, David is an experienced C-suite leader who has led major investment and asset management firms. He knows how to direct and allocate capital and can help us run the strategic process Fermi needs and shareholders deserve. You can learn more about David and all of our nominees at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

I am proposing a new, highly qualified, independent board majority that will review all of Fermi’s strategic options, including the current board’s plan as well as a full-value sale or strategic transaction. These world-class nominees with deep public board experience will bring no preconceived notions to the table and will prioritize securing the best outcome and maximum value for all shareholders. See for yourself at UnlockFermiValue.com/nominees Additional Information: prn.to/4fyizbU

Since last week’s shareholder webinar, where we had hundreds of attendees, our bank partner’s phone has been ringing nonstop with multiple companies highly interested in competing for a potential full-value transaction or strategic partnership including hyperscalers and global investment firms uniquely positioned to value the company correctly and to execute the future of Project Matador. As we have been willing to do, we urge the board to exercise its fiduciary responsibility to consider the dual-track path to maximize shareholder value and we implore all shareholders to call for the June special meeting should the board refuse to take advantage of the momentum. Sign up for updates: UnlockFermiValue.com Additional Information: prn.to/4uxlF4B

Today I’m launching UnlockFermiValue.com, and I encourage everyone to visit the site and sign up for updates. As Fermi’s co-founder and largest shareholder, my priority is maximizing shareholder value through a 75-day dual-path process that considers a full-value transaction or strategic partnership, alongside evaluation of the standalone tenant plan. This site will serve as a central hub for information and context behind our plan to unlock the extraordinary value of Project Matador for all shareholders. Read further: prn.to/4uxlF4B

As we gather with family and friends today, may we all find time to reflect on the true meaning of Memorial Day — remembering the men and women who laid down their lives over the last 250 years so we can live ours. God bless them, God bless their families, and God bless the greatest nation on earth… America. 🇺🇸

As I shared on yesterday’s call, I can't be prouder of the speed at which me and my team were able to execute at Fermi. With upwards of 150 helicopter tours of Project Matador in the last 15 months, every guest was blown away by the progress at the site. The asset is real. The shareholders should decide its future. Additional Information: prn.to/4fyizbU

To my former colleagues, to the city of Amarillo, and to all Fermi stakeholders, let me say clearly: I am certain that Project Matador’s best days are ahead. We discussed a dual-track plan to get us there on today’s call. You can watch it here: webcaster5.com/Player/Index?w… Additional Information: prn.to/4fyizbU

Project Matador is an incredible asset of national consequence, and shareholders deserve the opportunity to decide its future. In just a few hours, at 4:00 PM CT/5:00 PM ET/10:00 PM BST, we will be detailing a path towards maximizing shareholder value. I hope you’ll join us. To register for the webinar, please visit: webcaster5.com/Webcast/Page/3… Additional Information: prn.to/4fyr7iY