Slide 1: Gigawatt Private Grid Powering Next-Gen AI: Q3 2025 Earnings Release
11 Gigawatt Private Grid Powering Next - Gen AI USHERING IN AMERICAN ENERGY AND AI DOMINANCE 1 3 Quarter 2025 Earnings Release
Slide 2: Disclaimers About This Presentation
DISCLAIMERS ABOUT THIS PRESENTATION This presentation is provided by Fermi Inc. (“Fermi”) for informational purposes only. The information contained herein does not purport to be all inclusive and no representations or warranties, express or implied, are given in, or in respect of, this pr es entati
Slide 3: Fermi America Salutes the Brave Men & Women Who Served
FERMI AMERICA SALUTES THE BRAVE MEN & WOMEN WHO SERVED WITH HONOR On this Veterans Day and Remembrance Day, we proudly salute all who have worn the uniform, knowing that we are the land of the free because of the brave. Their courage, sacrifice, and devotion have safeguarded the freedom and promise
Slide 4: The World's Largest Advanced Energy and Artificial Intelligence Campus
THE WORLD'S LARGEST ADVANCED ENERGY AND ARTIFICIAL INTELLIGENCE CAMPUS Spanning 11 gigawatts of power , comprised of a combination of 5 gigawatts of gas - powered generation and 6 gigawatts of nuclear generation , across 5,200 acres , Project Matador is expected to be the largest advanced energy and
Slide 5: Advanced Energy and Artificial Intelligence Campus: 5,236 Acres
Advanced Energy and Artificial Intelligence Campus 5,236 Acres - The Largest Site of its Kind in the World AS1
Slide 6: Project Matador – Site Progress
Project Matador – Site Progress 6 AS1JD2
Slide 7: Gas Powered Generation Status
Fermi Milestones – Up to 11 GW of Gas Powered Generation Status 7 th - 11 th GW 2034 – 2038 6 th GW 2032 – 2033 5 th GW 2030 - 2031 4 th GW 2029 3 rd GW 2028 2 nd GW 2027 1 st GW 2026 Milestones Secured Land On Track Land Expansion Ahead of Schedule Natural Gas Ahead of Schedule Water On Track Permi
Slide 8: Gas Powered Generation Status: Tenants, Financing, Solar and Batteries
Fermi Milestones – Up to 11 GW of Gas Powered Generation Status 7 th - 11 th GW 2034 – 2038 6 th GW 2032 – 2033 5 th GW 2030 - 2031 4 th GW 2029 3 rd GW 2028 2 nd GW 2027 1 st GW 2026 Milestones On Track Powered Shells On Track Tenant 1 Financing On Track Long Lead Time Items Financing On Track Sola
Slide 9: Nuclear Generation Status
Fermi Milestones – Up to 6 GW of Nuclear Generation Status 6 th GW 2038 5 th GW 2037 4 th GW 2036 3 rd GW 2035 2 nd GW 2034 1 st GW 2032 – 33 Pre - Nuclear Milestones 2026 - 32 2025 On Track Permits On Track Major Nuclear Generation Equipment On Track Nuclear Financing On Track Nuclear Fuel On Track
Slide 10: 5 GW Status Timeline: Gas Generation Milestones
Fermi Milestones – 1 GW Status Q4 2026 Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Milestones Secured Land Secured Natural Gas Secured Water On Track Permits On Track Gas Power Generation Equipment On Track SPS Grid Power Agreement 99 - Year Ground Lease with Texas Tech University for 5,236 - acre Proje
Slide 11: 5 GW Status Timeline: Tenants, Financing and Construction
Fermi Milestones – 1 GW Status Q4 2026 Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Milestones On Track Powered Shells On Track Tenant 1 Financing On Track Long Lead Time Items Financing On Track Solar On Track Batteries Behind Schedule Expected Q4 Tenants 11 Fermi is Coordinating with Tenant on BESS Des