Fermi (FRMI) AGM 2026 summary

Opening remarks and agenda

• Meeting called to order at 10:00 A.M.; shareholders could vote online until the polls closed.

• Agenda covered election of two Class I director nominees and ratification of Ernst & Young LLP as independent auditor for FY ending Dec. 31, 2026.

Financial performance review

• Management conducted an intensive review of build costs and market pricing to establish a sound financial basis for tenant bids.

• Long-term financial strategy focuses on net operating income per megawatt built; an investment-grade pipeline could convert into significant contracted power.

• Management planned to present a framework estimating shareholder value created per gigawatt of contracted capacity on the Nov. 12 earnings call.

Board and executive committee updates

• Lee McIntire said he took on the CEO role in August after board leadership decisions in the spring.

• Directors acknowledged: Marius Haas, Rick Perry, Jeffrey Stein, Lee McIntire, Larry Kellerman, and Cordel Robbin-Coker; executive officers named were Lee McIntire and CFO Robert Masson.