Oklo Inc. begins trading on the New York Stock Exchange

• Oklo begins operations today under the new symbol “OKLO” after completing its business combination with AltC Acquisition Corp.

• Oklo received approximately $306 million in gross transaction proceeds to support its business plan.

• Oklo plans to provide clean, reliable and affordable energy to its customers in the artificial intelligence, data center, energy, defense and industrial markets, among others.

• Oklo announces the appointment of its new Board of Directors, comprised of recognized industry leaders, with Sam Altman as Chairman of the Board.

SANTA CLARA, California, May 10, 2024–(BUSINESS FEED)–Oklo Inc. (NYSE: OKLO) (“Oklo” or the “Company”), a fast fission and nuclear fuel recycling clean energy technology company, will begin trading on the New York Stock Exchange (NYSE) under the new trading symbol “OKLO”, effective at market open today, following the completion of its business combination with AltC Acquisition Corp. (“AltC”) (the “Transaction”) on May 9, 2024.

“We are pleased to complete our business combination with AltC and look forward to advancing our mission to provide clean, reliable and affordable energy through the design and deployment of advanced reactor technology.” I am proud of what our team has accomplished to date and I look forward to continuing this journey alongside our customers, partners and shareholders,” said Jacob DeWitte, co-founder and CEO of Oklo.

Sam Altman, Chairman of Oklo since 2015 and former CEO of AltC, said: “Today is an important milestone for the entire Oklo team. As an early investor in the company, I saw first-hand how Oklo has a proven track record of being a leader and innovator in clean energy, developing a strategy to to the market at competitive costs and by consolidating important relationships with regulators, customers and suppliers. Huge growth opportunities await us with Jake, Caroline and the rest of management. leading the team, I am confident that they will continue to pioneer advanced fission energy solutions as a public company.

The Company received $306 million in gross proceeds from the transaction before taking into account expenses associated with the transaction, which is expected to be used to execute Oklos' business plan and fund the initial deployment of the company's Aurora power plant. Company. Oklo is well positioned to drive long-term growth and shareholder value creation through the combination of the financing received in the transaction and its unique set of strategic agreements. Key deals include partnerships with Diamondback Energy, Inc., one of the largest independent shale oil producers, and Centrus Energy Corp. Additionally, the recent approval of the safety design strategy for the Oklo Aurora fuel fabrication facility marks a significant milestone in the United States. Department of Energy approval process.

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Oklo's owner-operator model aligns with customer preferences and has attracted interest in established and growing markets including artificial intelligence, data centers, energy, defense and technology. 'industry. The Company will focus on selling electricity directly to customers under long-term contracts, which aims to provide consistent and recurring revenues and cash flows.

The composition of the Oklos Board of Directors brings together a range of industry leaders with significant expertise and experience. Members include Sam Altman (Chair), former CEO of AltC and CEO of OpenAI; Michael Klein, former president of AltC; Jacob DeWitte, co-founder and CEO of Oklo; Caroline Cochran, co-founder and COO of Oklo; Lieutenant General (Ret.) John Jansen of the United States Marine Corps.; Richard Kinzley, retired chief financial officer of Black Hills Corporation (NYSE: BKH); and Chris Wright, CEO of Liberty Energy Inc. (NYSE: LBRT).

Oklo will ring the opening bell at the NYSE in New York on May 24, 2024 to celebrate the company's IPO. Watch the ringing ceremony here: https://www.youtube.com/@NYSEofficial/streams.

About Oklo Inc.: Oklo Inc. develops fast fission power plants to provide clean, reliable and affordable energy at scale. Oklo received a site use permit from the U.S. Department of Energy, received fuel material from the Idaho National Laboratory, submitted the first Custom Combined Advanced Fission License application to the Nuclear Regulatory Commission and develops advanced fuel recycling technologies in collaboration with the US department. of Energy and National Laboratories of the United States.

Forward-looking statements

This press release includes statements that express opinions, expectations, objectives, beliefs, plans, intentions, strategies, assumptions, forecasts or projections of Oklos regarding future events or future results and are therefore, or may be deemed to be, “forward-looking statements”. “The words “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “could”, “plan”, “ possible”, “potential”, “predict”, “project”, “should”, “would” or, in each case, the negative or other variations thereof or comparable terminology, and similar expressions may identify forward-looking statements, but The absence of these words does not mean that any statement is not forward-looking. These forward-looking statements include all matters that are not historical facts. They appear in several places throughout this press release and include statements regarding. our intentions, beliefs or current expectations regarding, among other things, the transaction and the benefits of the transaction, including results of operations, financial condition, liquidity, prospects, growth, strategies and markets. on which Oklo operates. These 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.

Due to a number of known and unknown risks and uncertainties, Oklo's actual results or performance may differ materially from those expressed or implied by such forward-looking statements. The following important risk factors could affect Oklos's future results and cause such results or other results to differ materially from those expressed or implied in the forward-looking statements: risks related to the deployment of Oklos' power plants; the risk that Oklo moves towards an emerging market, without a commercial project in progress and with regulatory uncertainties; the potential need for financing to construct factories, market, financial, political and legal conditions; Oklo's failure to recognize the benefits of the transaction; the effects of competition; changes in applicable laws or regulations; the outcome of any governmental and regulatory proceedings, as well as inquiries and investigations.

The foregoing list of factors is not exhaustive. You should carefully consider the above factors and other risks and uncertainties relating to other documents filed by Oklo from time to time with the United States Securities and Exchange Commission. The forward-looking statements contained in this press release and any document incorporated by reference are based on current expectations and beliefs regarding 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 required by applicable securities laws.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240510464172/en/

Contacts

Media and investor contact for Oklo:
Bonita Chester, Director of Communications and Media at [email protected] and [email protected]