{ "docId": "019de518-1e9e-7594-a01b-3fc1e40e590d", "docSlug": "392237a5ca881c89899d03726f0a3b1b", "documentTitle": "NewFortress Energy | Results Presentation Deck | 48 slides", "authorId": "newfortress-energy", "authorName": "NewFortress Energy", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-02-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 45, "pageCount": 48, "prevPage": 44, "nextPage": 46, "slideType": "appendix", "function": "appendix", "density": "balanced", "nDataPoints": 0, "notes": null, "elementsJson": null, "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019de518-1e9e-7594-a01b-3fc1e40e590d/45", "deckHref": "/decks/019de518-1e9e-7594-a01b-3fc1e40e590d", "deckJsonHref": "/decks/019de518-1e9e-7594-a01b-3fc1e40e590d.json", "deckAnchorHref": "/decks/019de518-1e9e-7594-a01b-3fc1e40e590d#slide-45", "components": [ { "bbox": { "h": 0.63, "w": 0.901, "x": 0.047, "y": 0.105 }, "kind": "list", "text": "1. \"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 owner of the Hilli.\n2. \"Illustrative Goals\" or Goals means our forward-looking view for the relevant metric. The goals are based on certain management assumptions applicable to the relevant metric. The goals are not based on the Company's historical operating results, which are limited, and are provided for illustrative purposes only and therefore does not purport to be an actual representation of our future economics. Actual circumstances could differ materially from the assumptions, and actual performance and results could differ materially from, and there can be no assurance that they will reflect, our corporate goals.\n3. \"Illustrative Total Segment Margin Goal\" means our forward-looking goal for Segment Margin for the relevant period adjusted to reflect the Company's anticipated volumes of LNG to be sold under binding contracts multiplied by the average price per unit at which the Company expects to price LNG deliveries, including fuel sales and capacity charges or other fixed fees, revenues from sales of power and steam less the cost per unit at which the Company expects to purchase or produce and deliver such LNG or natural gas, including the cost to (i) purchase natural gas, liquefy it, and transport it to one of our terminals or purchase LNG in strip cargos or on the spot market, (ii) transfer the LNG into an appropriate ship and transport it to our terminals or facilities, (iii) deliver the LNG, regasify it to natural gas and deliver it to our customers or our power plants and (iv) maintain and operate our terminals, facilities and power plants. For vessels chartered to third parties, this measure reflects the revenue from ships chartered to third parties, capacity and tolling arrangements, and other fixed fees. Actual circumstances could differ materially from the assumptions, and actual performance and results could differ materially from, and there can be no assurance that they will reflect, our corporate goals.\n4. Based on Management's estimates of the difference between the revenues from selling LNG cargos and the costs of purchasing LNG cargos.\n5. \"Adjusted EBITDA\" 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 and to compensate employees. We believe that Adjusted EBITDA is widely used by investors to measure a company's operating performance without regard to items such as interest expense, taxes, depreciation, and amortization which vary substantially from company to company depending on capital structure, the method by which assets were acquired and depreciation policies. Further, we exclude certain items from our SG&A not otherwise indicative of ongoing performance. We calculate Adjusted EBITDA as net income, plus transaction and integration costs, contract termination charges and loss on mitigations sales, depreciation and amortization, 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, tax expense, and adjusting for certain items from our SG&A not otherwise indicative of ongoing operating performance, including 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, plus our pro rata share of Adjusted EBITDA from certain unconsolidated entities, less the impact of equity in earnings (losses) of certain unconsolidated entities plus certain non-capitalizable contract acquisition costs. Adjusted EBITDA is mathematically equivalent to our Total Segment Operating Margin, as reported in the segment disclosures within our financial statements, minus Core SG&A, including our pro rata share of such expenses of certain unconsolidated entities. Core SG&A is defined as total SG&A adjusted for 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. Core SG&A excludes certain items from our SG&A not otherwise indicative of ongoing operating performance. The principal limitation of Adjusted EBITDA 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 Adjusted EBITDA to our GAAP net income, and not to rely on any single financial measure to evaluate our business. Adjusted EBITDA does not have a standardized meaning, and different companies may use different Adjusted EBITDA definitions. Therefore, Adjusted EBITDA may not be necessarily comparable to similarly titled measures reported by other companies. Moreover, our definition of Adjusted EBITDA may not necessarily be the same as those we use for purposes of establishing covenant compliance under our financing agreements or for other purposes. Adjusted EBITDA 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": "60a087aa-76be-4a3b-b0f9-e67db7cf9409", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.017, "w": 0.027, "x": 0.936, "y": 0.94 }, "kind": "source-note", "text": "45", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "34ae6394-0853-441b-a4c6-8f6449657a08", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.132, "x": 0.434, "y": 0.05 }, "kind": "title", "text": "Endnotes", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4db3ac7a-3c70-459f-95f5-917ee3f3064d", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 48, "from": 31, "beatId": "1d710629-5899-4311-9b37-d056b667d77f", "arcName": "Monroe's Motivated Sequence", "arcSlug": "monroes-sequence", "beatName": "Action", "beatSlug": "monroes-sequence-action", "evidence": "The company outlines its future plans and growth opportunities", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }