REG - Fermi Inc. - Fermi Secures $165m Equipment Financing Facility

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RNS Number : 4577Y  Fermi Inc.  27 March 2026

Fermi America™ Secures $165 Million Equipment Financing Facility from CSG
Investments, an Affiliate of Beal Bank USA, to Accelerate Delivery of Six
SGT-800 Gas Turbines for 2028 Delivery at Project Matador

·    Fermi America Executes Second Turbine Warehouse Financing Facility in
Two Months, Surpassing $865 Million in Equipment Financing for Project Matador

·    This Fleet of Siemens Energy Units is Scheduled to Arrive in 2028,
Consistent with Project Matador's Scheduled Power Ramp

(AMARILLO, Texas) March 27, 2026 -- Fermi Inc. (d/b/a Fermi America) (NASDAQ
& LSE: FRMI), operating as Fermi America™, today announced that it has
secured a $165 million senior secured, first lien delayed draw term loan from
CSG Investments, Inc., an affiliate of Beal Bank USA, to finance the remaining
progress payments on its previously ordered six Siemens Energy SGT-800-57 gas
turbines, with delivery scheduled in 2028.

A private energy campus built to deliver power at true hyperscale so that the
world's leading companies can continue innovating at the speed of capitalism -
Project Matador combines clean natural gas, advanced nuclear, solar, and
battery storage into a single, integrated HyperGrid™. Anchored by Siemens
Energy SGT-800 gas turbines as the near-term foundation, the campus is
designed to ultimately generate 17GW of firm, low-carbon, on-demand power -
with AP1000 advanced nuclear reactors as the long-term backbone. With an
approved ~6GW Clean Air Permit, plans to file an additional ~5GW Clean Air
Permit, and over $865 million in equipment financing, Project Matador
continues to accelerate and execute key milestones that are critical to
achieving near and long term success.

The Borrower of the facility is Fermi Turbine Warehouse II LLC, a wholly owned
special purpose entity of Fermi Inc.

The transaction follows Fermi America's $500 million turbine warehouse
facility with MUFG Bank, Ltd. and the ~$200 million facility from Keystone
National Group, both closed in February 2026.

"Every dollar of capital we secure is highly intentional and is a vote of
confidence in Project Matador," said Toby Neugebauer, Chief Executive Officer
and Co-Founder of Fermi America. "At a time when supply chain logs for long
lead time items and connection queues are holding back America's leading
companies, Fermi is helping provide the ramp needed to access clean, redundant
power certainty in an uncertain market."

"We have tremendous respect for the CSG and Beal Bank USA teams - they brought
real expertise in asset finance to this transaction and moved with speed and
professionalism at every step," affirmed John Donovan, Executive Vice
President of Capital Markets for Fermi America. "This facility is a testament
to the growing institutional confidence in Project Matador's asset quality and
our team's ability to execute. We look forward to deepening this relationship
as we continue to scale our platform."

Key Financing Highlights

·    $165 million senior secured, first lien delayed draw term loan with
CSG Investments, Inc., an affiliate of Beal Bank USA

·    Repeatable warehouse structure designed to support future turbine
equipment purchases prior to project financing

·    Finances six Siemens Energy SGT-800-57 (57MW) gas turbines with
deliveries scheduled in pairs throughout 2028

·    Funds 100% of remaining Siemens Energy progress payment obligations

·    Vinson & Elkins LLP served as Fermi's transaction counsel and
Davis Polk & Wardwell LLP served as Lender's Counsel.

Fermi America recognizes Siemens Energy for its continued partnership in
securing these long-lead, high-demand generation assets central to Project
Matador's power delivery timeline.

America's demand for firm, reliable, private power has never been greater.
Hyperscalers, defense contractors, semiconductor manufacturers, and advanced
computing operators are confronting the same reality: the public grid was not
designed for the voracious compute needs of AI, nor should ratepayers fund the
solution.

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/
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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 2GW 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.

About CSG Investments, Inc. and Beal Bank USA:

CSG Investments, Inc. is a global buy-and-hold institution headquartered in
Dallas, Texas. We provide flexible and creative capital solutions for all
types of commercial and industrial customers. CSG Investments, Inc. is an
affiliate of Beal Bank USA, a strongly capitalized financial institution. CSG
Investments, Inc. is a direct, one-stop source of capital for up to $1 billion
per transaction.

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