New Fortress Energy : Investor Update January 21, 2021 Presentation

January 21, 2021

Investor Update

1. Executive Summary
2. FAQ: How will we pay for this?
3. FAQ: How does this fit with capital-light business model?
4. FAQ: Why Brazil?
5. FAQ: Why buy ships vs. leasing?
6. FAQ: How does FLNG fit into business model?
7. Appendix

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Executive Summary

Announced 3 separate transactions for $5.1bn equivalent enterprise value(1)

1. Acquiring Hygo Energy Transition Ltd.
2. • Private LNG-to-power business
   • 3 terminals & power plants in Brazil(2)
   • • Includes country's largest thermal power plant
     • Includes 3 FSRUs(3)
   • Currently a 50/50 JV between Golar LNG Ltd. & Stonepeak Infrastructure Partners
3. Suape Terminal
4. • Purchasing 288MW of PPAs in Brazil(4)
   • Moving PPAs to Suape port
   • Developing terminal & power plant
5. Acquiring Golar LNG Partners LP
6. • Publicly traded MLP
   • 6 FSRUs, 4 LNGCs, 1 FLNG
   • Owned 32% by Golar LNG Ltd.

Adds 4 terminals to our portfolio

Consideration

$2.18bn for 100% of Hygo

• $580mm cash
• $1.6bn of NFE shares
• Leave current asset-level debt in place

$1.5bn for 100% of GMLP

• All cash
• Assume FLNG debt of $389mm & $138mm preferred equity
• Refinance remaining debt of $1.4bn

Approximately ~$5 billion enterprise value; expected closing in 1-4 months(5)

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Executive Summary

Our business is simple

We sell power & natural gas in developing countries around the world by providing capital, infrastructure, assets & expertise

Objective #1: Democratize access to power

Global Electricity Access

MWh per Capita

> 10 MWh

5-10 MWh

< 5 MWh

Over a billion people lack electricity

We are quickly expanding energy access where it's needed most to meet today's acute power needs

Objective #2: Provide cleaner, cheaper energy

Natural gas:

30%

fewer emissions

vs. diesel & heavy fuel oil(6)

47%

cheaper than diesel over last 5 years (3)

Objective #3: Reach zero emissions

The world's energy system needs to be transformed

1. Find the cheapest zero-emission hydrogen
2. Replace natural gas with hydrogen in our operations
3. Become leader in fossil-free energy transition

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