Fermi and TensorWave Agree to Extend Closing Date to October 31, 2026

DALLAS, TX / ACCESS Newswire / September 22, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced that its wholly owned subsidiary, Fermi Campus 1 LLC, and TensorWave TEX1, LLC ("TensorWave") have signed a First Amendment to their Data Center Lease and Services Agreement (the "Lease"). The amendment extends the closing date under the Lease from September 30, 2026 to October 31, 2026. All other terms of the Lease remain unchanged and in effect. The Lease covers 222 megawatts (MW) of total facility power at Fermi's Project Matador campus and represents approximately $6.5 billion in expected total revenue over its initial 15-year term.

The Lease, signed in August 2026, provides that its effectiveness is subject to the satisfaction or waiver of specified closing conditions. Those conditions include executing and delivering related work letters and guaranties; finalizing operations schedules and a service-level agreement; obtaining Board approvals; and securing project-level financing sufficient to fund construction of the leased premises.