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Oklo Announces Board Transition Following Chris Wright's Confirmation as Secretary of Energy

1. Chris Wright confirmed as U.S. Secretary of Energy, leaves Oklo board. 2. Wright's expertise helped shape Oklo’s vision towards advanced energy. 3. Oklo develops advanced nuclear plants to provide clean energy. 4. Replacement for Wright on board to be announced soon. 5. Oklo has received necessary permits for nuclear plant operations.

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FAQ

Why Neutral?

Wright's departure is significant but currently does not lead to immediate price changes.

How important is it?

The leadership change has implications for Oklo’s strategic direction and regulatory access.

Why Short Term?

Wright's new role may offer future opportunities but short-term uncertainty exists.

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NEEBIDUEXC
SANTA CLARA, Calif.--(BUSINESS WIRE)--Oklo Inc. (NYSE: OKLO) today announced that Chris Wright, a member of its Board of Directors, was confirmed as the U.S. Secretary of Energy on February 3, 2025. As a result, Wright has stepped down from Oklo’s Board to assume this critical role in advancing the nation’s energy policies. “We congratulate Chris Wright on his confirmation as Secretary of Energy and thank him for his contributions to Oklo,” said Jacob DeWitte, Co-Founder and CEO of Oklo. “His expertise in energy and technology has been instrumental in shaping our vision, and we look forward to his leadership in the Department of Energy. We deeply appreciate his time on the Oklo Board of Directors and his dedication to our mission.” Announcements related to a replacement for Wright’s board seat will be forthcoming. About Oklo Inc.: Oklo Inc. is developing advanced nuclear power plants to provide clean, reliable, and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, was awarded fuel material from Idaho National Laboratory, submitted the first advanced nuclear custom combined license application to the U.S. Nuclear Regulatory Commission, and is developing advanced fuel recycling technologies in collaboration with the U.S. Department of Energy and U.S. National Laboratories. Forward-Looking Statements This press release includes statements that express Oklo’s opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections regarding future events or future results and therefore are, or may be deemed to be, “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” or, in each case, their negative or other variations or comparable terminology, and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this press release and include statements regarding our intentions, beliefs or current expectations concerning, among other things, the timing, goals and benefits of the memorandum of understanding, results of operations, financial condition, liquidity, prospects, growth, strategies and the markets in which Oklo operates. Such forward-looking statements are based on information available as of the date of this press release, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. As a result of a number of known and unknown risks and uncertainties, the actual results or performance of Oklo may be materially different from those expressed or implied by these forward-looking statements. The following important risk factors could affect Oklo’s future results and cause those results or other outcomes to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklo’s powerhouses; the risk that Oklo is pursuing an emerging market, with no commercial project operating, regulatory uncertainties; the potential need for financing to construct plants, market, financial, political and legal conditions; the effects of competition; changes in applicable laws or regulations; the risk that a binding agreement with RPower does not materialize or fails to produce the expected benefits; and the outcome of any government and regulatory proceedings and investigations and inquiries. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties of the other documents filed by Oklo from time to time with the U.S. Securities and Exchange Commission. The forward-looking statements contained in this press release and in any document incorporated by reference are based on current expectations and beliefs concerning future developments and their potential effects on Oklo. There can be no assurance that future developments affecting Oklo will be those that Oklo has anticipated. Oklo undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

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