(Incorporated in Delaware)

We are a geothermal energy company engaged in developing enhanced geothermal systems (EGS) to generate electricity. We use horizontal drilling and hydraulic fracturing to reach underground rock formations and circulate heat from them to produce geothermal power in places that do not have natural permeability.

Note: Net loss and revenue are for the 12 months that ended Dec. 31, 2025, according to financial statements in the prospectus.

(Note: Fervo Energy Co. priced its IPO at $27.00 – $1.00 above the top of its recently increased price range – and sold 70 million shares – the number of shares in the recently upsized deal in the prospectus – and raised $1.89 billion on Tuesday night, May 12, 2026.)

(Background: Fervo Energy Co. upsized its IPO in an S-1/A filng on May 11, 2026, in which it disclosed the new terms: 70.0 million shares – up from 55.56 million shares initially – at a price range of $25.00 to $26.00  – up from the original price range of $21.00 to $24.00 – to raise $1.79 billion.)

(Background: Fervo Energy Co. disclosed the terms for its IPO on May 4, 2026, in an S-1/A filing: 55.56 million shares at a price range of $21.00 to $24.00 to raise $1.25 billion, if priced at the $22.50 mid-point of its range. Background: Fervo Energy Co. filed its S-1 on April 17, 2026, for its IPO, without disclosing the terms. Estimated proceeds were $100 million, a placeholder figure. Some Wall Street pros estimated at the time that Fervo Energy’s IPO could raise between $225 million and $250 million.)