{ "docId": "019de518-6f14-747c-953b-9341e9ad500e", "docSlug": "33373becd4ce4ee9a49ed7b39e3630d3", "documentTitle": "NewFortress Energy | Results Presentation Deck | 40 slides", "authorId": "newfortress-energy", "authorName": "NewFortress Energy", "documentKindSlug": "conference-presentation", "documentKindLabel": "Conference presentation", "sourceTypeSlug": "investor_relations", "sourceTypeLabel": "Investor relations", "presentationDate": "2024-05-01 00:00:00", "orientation": "landscape", "aspectRatio": 1.7777778, "pageNumber": 39, "pageCount": 40, "prevPage": 38, "nextPage": 40, "slideType": "appendix", "function": "appendix", "density": "dense", "nDataPoints": 10, "notes": null, "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019de518-6f14-747c-953b-9341e9ad500e/39", "deckHref": "/decks/019de518-6f14-747c-953b-9341e9ad500e", "deckJsonHref": "/decks/019de518-6f14-747c-953b-9341e9ad500e.json", "deckAnchorHref": "/decks/019de518-6f14-747c-953b-9341e9ad500e#slide-39", "components": [ { "bbox": { "h": 0.823, "w": 0.901, "x": 0.047, "y": 0.112 }, "kind": "list", "text": "7. \"Net Income\" means Net Income attributable to stockholders as presented in the relevant Form 10-K or Form 10-Q for the relevant financial period.\n8. \"Illustrative Net Income Goal\" reflects our illustrative Total Segment Operating Margin, excluding interest expenses from our debt facilities assuming a weighted average interest rate of 9.3% on $7.5 billion pro forma outstanding debt offset by capitalized income of approximately $300 million in 2024, taxed at an effective tax rate of approximately 15%, corporate SGA expenses of approximately $150 million in 2024, interest on outstanding cash balances equal to approximately 5.25% on unrestricted cash accounts, and depreciation and amortization in the amount of $300 million in 2024, including FLNG depreciated over a 20-year life starting on its expected date of start of operations. References to amounts and the Illustrative Net Income Goal (i) is not based on the Company's historical operating results, which are limited, and (ii) 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 goal.\n9. Based on Management's estimate of the depreciation and amortization of the Company's assets during any future period.\n10. \"Funds From Operations per share\" means net income, computed in accordance with GAAP, excluding gains or losses from sales of assets, depreciation and amortization and impairment charges. We compute FFO in accordance with our interpretation of standards established by the National Association of Real Estate Investment Trusts (\"NAREIT\"), which may not be comparable to FFO reported by other REITs that do not define the term in accordance with the current NAREIT definition or that interpret the current NAREIT definition differently than we do. We believe that FFO is helpful to investors as supplemental measures of the performance of our infrastructure investments. We believe that FFO can facilitate comparisons of operating performance between periods by excluding the effect of depreciation and amortization related to our infrastructure investments and impairment charges, which are based on historical costs and may be of limited relevance in evaluating current performance. Our definitions and calculations of these Non-GAAP financial and operating measures and other terms may differ from the definitions and methodologies used by other registrants and accordingly, may not be comparable. This Non-GAAP financial and operating measures do not represent cash generated from operating activities in accordance with GAAP, nor do they represent cash available to pay distributions and should not be considered as an alternative to net income, determined in accordance with GAAP, as an indication of our financial performance, or to cash flows from operating activities, determined in accordance with GAAP, as a measure of our liquidity, nor is it indicative of funds available to fund our cash needs, including our ability to make cash distributions.\n11. \"Illustrative FFO Goal\" means our Illustrative Net Income (attributable to common stockholders) Goal attributable to stockholders plus Illustrative Depreciation and Amortization of $300 million for 2024. We believe this non-GAAP measure, as we have defined it, offers a useful supplemental view of the overall evaluation of the Company in a manner that is consistent with metrics used for management's evaluation of the Company's overall performance. Illustrative FFO Goal does not have a standardized meaning, and different companies may use different definitions. Therefore, this term may not be necessarily comparable to similarly titled measures reported by other companies.\n12. \"Illustrative EPS Goal\" is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to any measure of performance or liquidity derived in accordance with GAAP. We calculate Illustrative EPS Goal as Illustrative Net Income (attributable to common stockholders) Goal divided by the weighted average shares outstanding on a fully diluted basis. We believe this non-GAAP measure, as we have defined it, offers a useful supplemental view of the overall evaluation of the Company in a manner that is consistent with metrics used for management's evaluation of the Company's overall performance. Illustrative EPS Goal does not have a standardized meaning, and different companies may use different definitions. Therefore, this term may not be necessarily comparable to similarly titled measures reported by other companies.\n13. \"Illustrative FFO/share Goal\" is not a measurement of financial performance under GAAP and should not be considered in isolation or as an alternative to any measure of performance or liquidity derived in accordance with GAAP. We calculate Illustrative FFO/share Goal as Illustrative FFO Goal divided by the weighted average shares outstanding on a fully diluted basis. We believe this non-GAAP measure, as we have defined it, offers a useful supplemental view of the overall evaluation of the Company in a manner that is consistent with metrics used for management's evaluation of the Company's overall performance. Illustrative FFO/share Goal does not have a standardized meaning, and different companies may use different definitions. Therefore, this term may not be necessarily comparable to similarly titled measures reported by other companies. For periods after 2024, Illustrative FFO Goal will be calculated in the same manner.\n14. NFE has entered into a new island-wide 80 TBtu gas supply contract and had previously agreed to a 25TBtu gas supply contract for the San Juan power plant's units with PREPA.\n15. \"Operational\", \"Completed\", \"Placed into service\" or \"commercial operation date\", \"Deployment\" or similar statuses (either capitalized or lower case) with respect to a particular project means we expect gas to be made available in the near future, gas has been made available to the relevant project, or that the relevant project is in full commercial operations. Where gas is going to be made available or has been made available but full commercial operations have not yet begun, full commercial operations will occur later than, and may occur substantially later than, our reported Operational, Completion or Deployment date, and we may not generate any revenue until full commercial operations have begun. We cannot assure you if or when such projects will reach full commercial operation. Our ability to export liquefied natural gas depends on our ability to obtain export and other permits from governmental and regulatory agencies. No assurance can be given that we will receive required permits, approvals and authorizations from governmental and regulatory agencies in connection with the exportation of liquefied natural gas on a timely basis or at all or that, once received, we will be able to maintain in full force and effect, renew or replace such permits, approvals and authorizations.\n16. Reflects management's estimates for Adjusted EBITDA from customer contracts and projected growth across the Company's Projects in Brazil on an annualized basis when each of the Project is expected to be completed. Actual Adjusted EBITDA could be materially lower than management estimates.", "attrs": {}, "subkind": "numbered", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "3dd28d23-756c-4279-a16e-e668f110b96f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.017, "w": 0.018, "x": 0.949, "y": 0.94 }, "kind": "source-note", "text": "39", "attrs": {}, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "706e41f3-f6e3-4368-8f42-407b947ae0c4", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.025, "w": 0.14, "x": 0.429, "y": 0.049 }, "kind": "title", "text": "Endnotes", "attrs": {}, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a7acf312-d82f-4719-92a5-ffb0a05ee719", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }