Golar LNG : 2022 Q2 Results presentation

SECOND QUARTER 2022 RESULTS

AUGUST 11, 2022

Golar LNG Limited 2022 I 1

Forward Looking Statements

This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management's current expectations, estimates and projections about its operations.

All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as "may," "could," "should," "will," "expect," "plan," "forecast," "believe," "estimate," "propose," "potential," "continue," or the negative of these terms and similar expressions are intended to identify such forward-looking statements.

These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise.

Among the important factors that could cause actual results to differ materially from those in the forward- looking statements are: our inability and that of our

counterparty to meet our respective obligations under the Lease and Operate Agreement entered into in connection with the BP Greater Tortue / Ahmeyim Project ("Gimi GTA Project"); continuing uncertainty resulting from potential future claims from our counterparties of purported force majeure under contractual arrangements, including but not limited to our construction projects (including the Gimi GTA Project) and other contracts to which we are a party; claims made or losses incurred in connection with our continuing obligations with regard to Hygo Energy Transition Ltd ("Hygo"), Golar LNG Partners LP ("Golar Partners"), Cool Co Ltd. ("CoolCo") and Snam S.p.A. ("Snam"); the ability of Hygo, Golar Partners and New Fortress Energy, Inc. ("NFE") and CoolCo to meet their respective obligations to us, including indemnification obligations; a declines or continuing volatility in the global financial markets, specifically with respect to our equity holding in NFE; continuing volatility of commodity prices; failure of shipyards to comply with delivery schedules or performance specifications on a timely basis or at all; changes to rules and regulations applicable to liquefied natural gas ("LNG") carriers, floating storage and regassification units ("FSRUs"), floating liquefaction natural gas vessels ("FLNGs") or other parts of the LNG supply chain; changes in our ability to retrofit vessels as FSRUs or FLNGs and in our ability to obtain financing for such conversions on acceptable terms or at all; changes in our ability to obtain additional financing on acceptable terms or at all; the length

and severity of outbreaks of pandemics, including the worldwide outbreak of the novel coronavirus ("COVID-19") and its impact on demand for LNG and natural gas, the timing of completion of our conversion projects, the operations of our charterers, our global operations and our business in general; failure of our contract counterparties to comply with their agreements with us or other key project stakeholders; changes in LNG carrier, FSRU, or FLNG charter rates, vessel values or technological advancements; our ability to close potential future sales of additional equity interests in our vessels, including the Hilli Episeyo ("Hilli") and FLNG Gimi or to monetize our remaining interest in NFE on a timely basis or at all; our ability to contract the full utilization of the Hilli or other vessels; our ability to realize the expected benefits from investments we have made and may make in the future; changes in the supply of or demand for LNG or LNG carried by sea and for LNG carriers, FSRUs or FLNGs;

a material decline or prolonged weakness in rates for LNG carriers, FSRUs or FLNGs; increases in costs, including, among other things, wages, insurance, provisions, repairs and maintenance; changes in the performance of the pool in which certain of our vessels operate; changes in trading patterns that affect the opportunities for the profitable operation of LNG carriers, FSRUs or FLNGs; changes in the supply of or demand for natural gas generally or in particular regions; changes in our relationships with our counterparties, including our major chartering

parties; changes in our relationship with our affiliates and the sustainability of any distributions they pay us; changes in general domestic and international political conditions, particularly where we operate; global economic trends, competition and geopolitical risks, including impacts from the ongoing conflict in Ukraine and the related sanctions and other measures, including the related impacts on the supply chain for our conversions; our inability to expand beyond the carriage of LNG and provision of FSRU and FLNGs, particularly through our innovative FLNG strategy; actions taken by regulatory authorities that may prohibit the access of LNG carriers, FSRUs and FLNGs to various ports; and other factors listed from time to time in registration statements, reports or other materials that we have filed with or furnished to the Securities and Exchange Commission, or the Commission, including our most recent annual report on Form 20-F.

As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differ materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise unless required by law.

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Speakers

Karl Fredrik Staubo

Chief Executive Officer

Eduardo Maranhão

Chief Financial Officer

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Company overview

		FLNG & Marine Assets			Investments & Shareholdings
	Existing FLNG Assets	FLNG Growth Designs

			Ownership	Current value ($m)
		MkI: Gandria (up to 2.7mtpa)	~6.0%	~6991
			Ownership	Current value ($m)
FLNG Hilli (in operation)	FLNG Gimi (under construction)	Golar MkII design (up to 3.5mtpa)	31.3%	1352
	Asset
			Ownership	Current value ($m)
	3	Golar MkIII design (up to 5.0mtpa)	23.5%	452

1. Based on close price on August 10, 2022
2. Announced equity-in-kind contribution. Book value at June 30, 2022

(3) Entered into a contract with Snam to deliver Golar Arctic as a converted FSRU, subject to Snam's issuance of a notice-to-proceed.

Experience & Focus

• 50+ years of experience with maritime LNG infrastructure

• Pioneering FSRU and
  FLNG designs

Market leader for FLNG,

• 100% utilization since start-up
  of FLNG operations

• Focused on FLNG growth
  opportunities

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Strong balance sheet and EBITDA growth

Key Balance Sheet Stats

Total Golar Cash and Listed Securities1

$1.48bn

Golar Contractual debt net of Total Golar Cash & Listed Securities1

$(0.5)bn

$ million

Golar LNG Debt Maturity Profile

400

350

300

250		Gimi contract start
	($151m/yr of incremental Adjusted
200		EBITDA2)
150
100		64
50	18	37
0

370

Expected Adjusted EBITDA2 development from		Remainder of	2023	2024	2025
existing FLNGs 2024 vs. 2021	2022
	Bank debt: amortization			Bank debt: One-off repayments
3-4x
	Capital lease: amortization		Unsecured bond: Maturity

Balance sheet positioned for FLNG growth with a net cash position of $0.5bn

1. See slide 21.
2. Please see the appendix for definition on the non-GAAP measures.

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