New Fortress Energy : Company Update

March 2024

Investor Update

Puerto Rico

Last year, we installed 425 MW of fast power in Puerto Rico

2 plants built in less than 180 days

Palo Seco Fast Power 175 MW

Our goal:

San Juan Fast Power 250MW

Create reliable base load power to stabilize power grid, which had been damaged by hurricanes & natural disasters over the past several years

We have closed two transactions that further strengthen

Puerto Rico's grid & enhance our earnings profile

Transaction 1: Sale of two operating power plants

Concurrent with the sale, existing 2-year power leases were ended

Taking place approximately halfway through the term of the contract

In dialogue with Weston and Army Corps on settlement for early termination & optimistic about a mutually equitable solution

Units transferred to PREPA on March 16th with no disruption in service

(i)Subject to certain items and conditions.

Transaction 2: Island-wide 80 TBtu gas supply contract(2)

Potential to save $1bn+ in fuel costs & avoid 7.3mm tonnes in CO2 emissions for Puerto Ricans

3,700 MW fuel switch opportunity in Puerto Rico

(i)

Illustrative calculation. LUMA peak demand is ~2,575 MW.

Brazil

Brazil

We have completed construction & commissioning of our Brazil terminals

Barcarena: The Amazon's sole entry point for natural gas

Contract with Norsk Hydro

COD: March 2024, 30 TBtu, 15-yr(4)

630 MW Barcarena Power Plant

COD: July 2025, 25-yr PPA, 16 TBtu(4)

1.6 GW New Power Plant

COD: July 2026, 15-yr PPA, $180/kW capacity payment(4)

TGS: Uniquely positioned to serve growing demand in S. Brazil

Connected to TBG pipeline

Pipeline system currently supplies >300 TBtu per year

Connected to >3.5 GW of existing power without firm gas contracts

Upcoming power auction in 2024

Opportunity to be firm gas supplier for >3 GW of existing & permitted greenfield projects

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