Investor Presentaiton

Phase 1 (Trains 1-3) of Rio Grande LNG Now Under Construction Positive Final Investment Decision (FID) achieved July 12, 2023 Closed $18.4 billion in project financing, the largest greenfield energy project financing in US history $6.1 billion¹ total equity commitments primarily via joint ventures with high quality partners Global Infrastructure Partners (GIP), GIC, Mubadala Investment Company, and TotalEnergies NextDecade equity commitment ~$283 million, including $125 million of pre-FID investments completed $12.3 billion project debt financing including $11.1 billion construction term loan facilities, $500 million working capital facility, and $700 million private placement notes Issued notice to proceed (NTP) to Engineering, Procurement, and Construction (EPC) partner Bechtel Mobilization and construction begun Focus on completing project safely, on time, and on budget Phase I supported by fixed-price long-term LNG Sales and Purchase Agreements (SPAs) with high caliber offtakers SPA volumes total >90% of nameplate production capacity NextDecade Phase 1 expected economic interest up to 20.8% NEXT DECADE Phase 1 FID achieved amid challenging macro environment of cost inflation and rising rates Execution highlights critical role for LNG in global energy transition Artist rendering of Rio Grande LNG NEXT NEXT NEXT wwwww NEXT 1 Total equity commitments shown net of NextDecade's $125 million of pre-FID capital investments into Phase 1 of which ~$120 million is attributable to limited notice to proceed work under the EPC contracts with Bechtel. 4

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