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      "text": "10. \"Forward Customer Contracted Margin\" or \"FCCM\" means the nominal contracted operating margin on a specific date of signed downstream contracts for the remaining term of the respective customer contracts.\nNFE calculates FCCM using the following methodology:\n(1) NFE first calculates monthly operating margin by downstream contract for the effective contractual period. The general approach for calculating monthly operating margin by downstream contract is:\nContracted Revenue Pricing\n(-) NFE's W.A. Portfolio LNG Supply Cost\n(-) NFE's W.A. Terminal & Marine Opex Cost\n(=) Operating Margin\n(x) Forecasted Downstream Volumes (within Contractual Limits)\n(=) Operating Margin\n(2) NFE then takes the monthly operating margin for each downstream contract and adds them on a prospective basis at given points in time. (e.g. Jan 1, 2022, Jan 1, 2023, etc.). This calculation produces a nominal FCCM for each downstream contract. The nominal FCCM for all downstream contracts are added together, and the product of this calculation is then presented as one aggregate number.\n\"Illustrative Forward Customer Contracted Margin Goal\" is an example of management's aspirational goals of an amount of FCCM that NFE may achieve.\nIt is important for readers to note several points regarding these calculations:\nFirst, FCCM is an estimated calculation based on management's estimates of factors such as weighted average portfolio LNG supply costs, weighted average terminal and marine operating expense cost and management's forecast of future downstream volumes. Each of these components are estimates and, as a result, the actual numbers for each component could differ materially from these estimates.\nSecond, the calculation of a monthly operating margin is an estimated figure prepared by management based on its current expectations for the performance of downstream contracts. The actual timing for, and amounts of, prospective contractual revenues could differ materially from these estimates.\nThird, a number of the contracts included in the Illustrative Forward Customer Contract Margin Goals are connected to projects that have not yet been completed and as a result, no revenue has yet been received under those customer contracts. The targeted value of the Illustrative Forward Customer Contract Margin Goals also assumes that none of the contracts included will be terminated prior to the end of its stated term.\nAs a result, FCCM and Illustrative Forward Customer Contract Margin Goals are estimates that have inherent limitations and should not be regarded as guarantees of future performance. Management estimates for each component of the calculations could differ materially from future actual results. Accordingly, readers should not rely on these targets and estimates - they are simply illustrations.\n11. Management's estimate based on operational experience and expectations of the capacity for a sample terminal.\n12. Management's estimate of potential capacity and utilization at the Company's operating terminals and terminals under development. Actual capacity may be lower, especially for terminals that are not yet fully Operational (Barcarena, Santa Caterina and Nicaragua).",
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