SCHEDULE: Encompass Capital Updates T1 Energy Stake to 19.99%

Encompass Capital Advisors and Todd J. Kantor have updated their beneficial ownership in T1 Energy Inc. to approximately 19.99% of common stock.

Summary

• Encompass Capital Advisors LLC, Encompass Capital Partners LLC, and Todd J. Kantor filed Amendment No. 4 to their Schedule 13D for T1 Energy Inc.
• The filing updates their beneficial ownership in T1 Energy Inc.'s Common Stock, par value $0.01 per share.
• Encompass Capital Advisors LLC and Todd J. Kantor each beneficially own 44,720,694 shares, representing approximately 19.99% of the outstanding Common Stock.
• Encompass Capital Partners LLC beneficially owns 35,890,919 shares, representing approximately 16.50% of the outstanding Common Stock.
• The reported ownership includes shares of Common Stock, warrants exercisable into Common Stock, and Common Stock issuable upon conversion of Convertible Series A Preferred Stock.
• Conversion of the Convertible Series A Preferred Stock is subject to a 19.99% beneficial ownership limitation (the "19.99% Blocker").
• The aggregate percentage of shares reported owned is based on 190,855,046 shares of Common Stock outstanding as of October 24, 2025, as reported in the Issuer's Prospectus Supplement.

Sentiment

Score: 5

Explanation: Neutral, as this is a factual update on beneficial ownership without explicit positive or negative operational news or strategic intent beyond holding a significant stake.

Future Outlook

No forward-looking statements or guidance from T1 Energy Inc. are provided in this beneficial ownership filing.

Management Comments

• Todd J. Kantor disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.

Industry Context

This filing details an update to a significant institutional stake in T1 Energy Inc., an entity operating within the energy sector. Such ownership updates provide transparency on major investor positions but do not offer insights into broader industry trends or competitive landscape from the filing itself.

Stakeholder Impact

• Shareholders: Provides increased transparency regarding significant institutional ownership. The 19.99% beneficial ownership limitation on preferred stock conversion could influence future dilution scenarios or the reporting persons' ability to exert control.

Key Dates

Keywords

T1 Energy Inc., Encompass Capital Advisors, Encompass Capital Partners, Todd J. Kantor, Schedule 13D, Beneficial Ownership, Common Stock, Convertible Preferred Stock, Warrants, Institutional Investor