Investor Presentaiton
Partner Joint Venture is Much More than Just Rio Grande Phase 1 Equity
Partners aligned for Phase 1 and expansions, with options in place that may accelerate
the FID timeline for Train 4 and Train 5
Partners
Phase 1
Expected
Economic
Interest¹
Percentage of
Phase 1
Contracted
Volume²
SPA Options
in Train 43
SPA Options
in Train 53
Potential
Long-Term
Participation in
Trains 4 & 5
LNG Project
Equity4
Option to
Participate in
Rio Grande
LNG's CCS
Project Equity5
NextDecade
Common Stock
Ownership
Rio Grande LNG 5 Train LNG Export Project
CCS Project
NEXT
GLOBAL
INFRASTRUCTURE
46.1%
22.1%
PARTNERS
TotalEnergies
16.7%
33%
~32%
~32%
10.0%
✓
17.5%
GIC
9.9%
4.7%
MUBADALA
6.5%
3.2%
5.4%
Totals
79.2%
33%
~32%
~32%
40.0%
22.9%
1 GIP, GIC and Mubadala hold combined equity interests that entitle them to an aggregate minimum of 62.5% of the cash flows generated by Phase 1 during operations. | 2 Total Energies purchased 5.4 million tonnes per annum (mtpa) of a
total 16.2 mtpa contracted to third parties in Phase 1. | 3 TotalEnergies holds options for 1.5 mtpa in each of Trains 4 and 5 for 20-year FOB SPAs indexed to Henry Hub. Total Energies' SPA options represent approximately 32% of
management's estimate of minimum contracted volume required to arrange optimal debt financing for Trains 4 and 5 FID based on internal observations and analysis of financial markets. | 4 GIP, GIC, and Mubadala each hold options to
participate in Trains 4 and 5 equity that will adjust from a total of 50% down to a total of 30% based on achieving certain returns on their investments in Trains 4 and 5. The percentages reflected in the table represent the economic interests
GIP, GIC and Mubadala would hold after such adjustment. Total Energies' equity option is fixed at 10% and is conditioned on exercising its SPA option for the respective train. | 5 The percentage interest associated with the options held by
each party to participate in the equity of the planned Rio Grande LNG CCS Project will be determined based on equity ownership held by each party in each associated liquefaction train as of declaration of FID on each train's CCS project. | 6
Ownership percentages are based on public filings and give effect to closing of third tranche of common stock sale to Total Energies on September 8, 2023.
RIO
GRANDE
LNG
18View entire presentation