Fermi's Co-Founder and Largest Shareholder, Toby Neugebauer: "Fermi's Shareholders, the Markets and Texas Voters Have Rejected Rick Perry and Fermi's 'We Can Do Whatever We Want' Board"

DALLAS, Nov. 5, 2026 /PRNewswire/ -- Toby Neugebauer, co-founder and largest shareholder of Fermi Inc. (Nasdaq: FRMI), today issued the following statement in response to the results of Fermi's October 30 annual meeting and the Form 8-K the company filed on November 4. "Fermi's shareholders, the public markets and the voters of Texas have all reached the same verdict on Rick Perry and the board that Marius Haas leads. "Start with the markets.

On May 22, I proposed a dual-track process to sell or partner Fermi while still evaluating the standalone plan.

At the time, indicative enterprise valuations for Fermi ranged from $10 billion to $20 billion.