New Fortress Energy Inc. (NFE) announced following a competitive bid process, NFE was awarded and has entered into a new island-wide 80 TBtu gas supply contract with Puerto Rico Electric Power Authority (PREPA), ensuring continued gas supply to these power plants for up to four years. The expanded volumes under the contract will enable conversion of other plants on the island from diesel to gas, providing lower cost, cleaner energy to Puerto Rico. As a result of the early termination of the contracts that have governed the construction, operations, and associated costs of these plants, NFE expects to negotiate a mutually beneficial settlement of all outstanding obligations in the near future.