{ "docId": "019de517-6e84-715c-ae17-cb09bf95d7f7", "docSlug": "3db391104971711a9418cb4cf9a7b7ed", "documentTitle": "NewFortress Energy | Results Presentation Deck | 37 slides", "authorId": "newfortress-energy", "authorName": "NewFortress Energy", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2023-11-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 36, "pageCount": 37, "prevPage": 35, "nextPage": 37, "slideType": "appendix", "function": "appendix", "density": "balanced", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de517-6e84-715c-ae17-cb09bf95d7f7/36", "deckHref": "/decks/019de517-6e84-715c-ae17-cb09bf95d7f7", "deckJsonHref": "/decks/019de517-6e84-715c-ae17-cb09bf95d7f7.json", "deckAnchorHref": "/decks/019de517-6e84-715c-ae17-cb09bf95d7f7#slide-36", "components": [ { "bbox": { "h": 0.76, "w": 0.889, "x": 0.048, "y": 0.118 }, "kind": "list", "text": "14. Price/EPS is calculated by diving the closing price of NFE stock on November 7, 2023 by the Company's Illustrative EPS Goal for 2024.\n15. EV/EBITDA is calculated by dividing the Enterprise Value of the Company by the Company's Illustrative Adjusted EBITDA Goal for 2024. The Enterprise value is calculated by adding the Company's market capitalization as of November 7, 2023 to the Company's Net Debt. Net Debt is calculated by adding the Company's Current and Long-Term Debt pro forma for the Term Loan B Issuance and recent asset-level financings in Brazil and subtracting cash and restricted cash.\n16. EPS CAGR is calculated by determining the compound annual growth rate of the Company's EPS from 2022 to the Company's Illustrative EPS Goal for 2024.\n17. 135 Megawatts represents the maximum expected capacity at the power plant.\n18. \"First Gas\" or \"First LNG\" refers to the date on which (or, for future dates, management's current estimate of the date on which) natural gas and/or LNG is expected for a project, including a facility in development. Full commercial operation of such project will occur later than, and may occur substantially later than, the date of first gas or first LNG. We cannot assure you if or when such projects will reach the date of delivery of first gas or LNG, or full commercial operations.\n19. The 15-year contract is with a subsidiary of Norsk Hydro.\n20. Refers to the selection of Genera PR LLC (\"Genera\"), an independently managed subsidiary of NFE, by the Puerto Rico Public-Private Partnerships Authority (\"P3A\"), in accordance with the requirement established by Act 120-2018 (Puerto Rico Electric System Transformation Act), for a ten-year operation and maintenance agreement with the Puerto Rico Electric Power Authority (\"PREPA\") for the operation, maintenance, decommissioning and modernization of PREPA-owned thermal power generation system of 4,693 MW after a mobilization period, as approved by the government of Puerto Rico, the Fiscal Oversight Management Board and Puerto Rico's Electricity Bureau.\n21. Refers to the binding short-form agreements with Comisión Federal de Electricidad (\"CFE\") related to the sale of NFE's La Paz power plant to CFE. These transactions are subject to customary terms and conditions and execution of final long-form binding definitive agreements. We cannot assure you if or when we will enter into long-form definitive agreements related to such projects or the terms of any such agreements. Furthermore, upon execution of long-form definitive agreements, we cannot assure you if or when conditions to such agreements will be satisfied, or if we will obtain the required approvals for the transactions set forth in such agreement.\n22. \"Total Segment Operating Margin\" is the total of our Terminals and Infrastructure Segment Operating Margin and Ships Segment Operating Margin. \"Terminals and Infrastructure Segment Operating Margin\" included our effective share of revenue, expenses and operating margin attributable to our 50% ownership of Centrais Elétricas de Sergipe Participações S.A. (\"CELSEPAR\") prior to the Sergipe Sale. \"Ships Segment Operating Margin\" included our effective share of revenue, expenses and operating margin attributable to our ownership of 50% of the common units of Hilli LLC prior to the completion of the Hilli Exchange. Hilli LLC owns Golar Hilli Corporation (\"Hilli Corp\"), the disponent owner of the Hilli.\n23. \"Free Cash Flow\" or \"FCF\" is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to income from operations, net income, cash flow from operating activities or any other measure of performance or liquidity derived in accordance with GAAP. We believe this non-GAAP measure, as we have defined it, offers a useful supplemental view of the overall operation of our business in evaluating the effectiveness of our ongoing operating performance in a manner that is consistent with metrics used for management's evaluation of the Company's overall performance. We believe Free Cash Flow is a useful performance measure for management, investors and other users of our financial information to evaluate our performance and to measure and estimate the ability of our assets to generate earnings after costs of interest, taxes and other costs to operate our business, which could be used for discretionary purposes such as continued development, common stock dividends or retirement of debt. Free Cash Flow is defined as Adjusted EBITDA less interest expense, tax expense and other adjustments that are removed in the calculation of Adjusted EBITDA, including but not limited to, transaction and integration costs, contract termination charges and loss on mitigations sales, asset impairment expense, interest expense (net), other expense (income), net loss on extinguishment of debt, changes in fair value of non-hedge derivative instruments and contingent consideration, and adjusting for certain items from our SG&A not otherwise indicative of ongoing operating performance, such as non-cash share-based compensation and severance expense, non-capitalizable development expenses, cost to pursue new business opportunities and expenses associated with changes to our corporate structure, and the impact of equity in earnings (losses) of certain unconsolidated entities and excludes noncontrolling interest and our pro rata share of Adjusted EBITDA from certain unconsolidated entities. Free Cash Flow is mathematically equivalent to net income plus depreciation and amortization each as reported in our financial statements. The principal limitation of Free Cash Flow is that it excludes significant expenses and income that are required by GAAP to be recorded in our financial statements. Investors are encouraged to review the related GAAP financial measures and the reconciliation of Free Cash Flow to our GAAP net income, and not to rely on any single financial measure to evaluate our business. Free Cash Flow does not have a standardized meaning, and different companies may use different Free Cash Flow definitions. Therefore, Free Cash Flow may not be necessarily comparable to similarly titled measures reported by other companies. Free Cash Flow should not be construed as alternatives to net income and diluted earnings per share attributable to New Fortress Energy, which are determined in accordance with GAAP.", "attrs": {}, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "668ab667-20e1-48d1-8d16-e30e475c2fbc", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.181, "x": 0.409, "y": 0.053 }, "kind": "title", "text": "Endnotes", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b63d984f-add4-4181-8ebc-de3e9f00dd0a", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 37, "from": 20, "beatId": "da03217b-cfb9-40e5-9745-763d8513e902", "arcName": "AIDA", "arcSlug": "aida", "beatName": "Action", "beatSlug": "aida-action", "evidence": "The document concludes with a call to action, encouraging investors to consider the company's potential.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }