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October 2018 Corporate Presentation

Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

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Page 1: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

October 2018

Corporate Presentation

Page 2: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Disclaimer and forward-looking statements

This presentation includes “forward-looking statements,” as contemplated by the Private Securities Litigation Reform Act of 1995, in which NextDecadeCorporation (the “Company”) discusses factors it believes may affect its performance in the future. All statements other than statements of historical factcontained in this presentation, including statements regarding the Company’s future results of operations and financial position, its strategy and plans, and itsexpectations for future operations, are forward-looking statements. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,”“believe,” “may,” “might,” “will,” “should,” “can have,” “likely,” “continue,” “design” and other words and terms of similar expressions, are intended to identifyforward-looking statements.

The Company has based its forward-looking statements largely on its current expectations and projections about future events and trends that it believes mayaffect its financial condition, results of operations, strategy, short-term and long-term business operations and objectives and financial needs. Actual resultscould differ from those expressed in its forward-looking statements. The Company’s future financial position and results of operations, as well as any forward-looking statements are subject to change and inherent risks and uncertainties, including those described in the section entitled “Risk Factors” in its AnnualReport on Form 10-K as well as other filings the Company has made and will make with the Securities and Exchange Commission (the “SEC”) which, after theirfiling, can be found on the Company’s website, www.next-decade.com.

You should consider the Company’s forward-looking statements in light of a number of factors that may cause actual results to vary from its forward-lookingstatements, including, but not limited to: the Company’s ability to maintain the listing of its securities on a securities exchange or quotation medium; changesadversely affecting the business in which the Company is engaged; management of growth; general economic conditions; the Company’s development ofliquefied natural gas (“LNG”) liquefaction and export projects; the Company’s ability to secure additional debt and equity financing in the future to completethe terminal at the Port of Brownsville in southern Texas (the “Terminal”) and an associated 137-mile pipeline to supply gas to the Terminal (the “Pipeline,”and together with the Terminal, the “Project”); the accuracy of estimated costs for the Project; the governmental approval of construction and operation ofthe Project; the successful completion of the Project by third-party contractors; the Company’s ability to generate cash; the development risks, operationalhazards, regulatory approvals applicable to the Project’s construction and operations activities; the Company’s anticipated competitive advantage; the globaldemand for and price of natural gas (versus the price of imported LNG); the availability of LNG vessels worldwide; legislation and regulations relating to theLNG industry; negotiations for the Terminal site lease and right-of-way options for the Pipeline route; compliance with environmental laws and regulations; orthe result of future financing efforts. Should one or more of the foregoing risks or uncertainties materialize in a way that negatively impacts the Company, orshould the Company’s underlying assumptions prove incorrect, the Company’s actual results may vary materially from those anticipated in its forward-lookingstatements, and its business, financial condition and results of operations could be materially and adversely affected.

The forward-looking statements contained in this presentation are made as of the date of this presentation and you should not rely on forward-lookingstatements as predictions of future events. In addition, neither the Company nor any other person assumes responsibility for the accuracy and completenessof any of these forward-looking statements. Except as required by applicable law, the Company does not undertake any obligation to publicly correct orupdate any forward-looking statements. All forward-looking statements attributable to the Company are expressly qualified in their entirety by thesecautionary statements as well as others made in this presentation, the Company’s most recent Annual Report on Form 10-K, and in its other filings and publiccommunications. You should evaluate all forward-looking statements made by the Company in the context of these risks and uncertainties.

1

Page 3: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Topic Page

Overview 3

Funding update 4

EPC update 5

FERC update 6

Commercial and gas supply update 7

Market fundamentals 8

Projects (RGLNG / RBPL) 12

Competitive advantages 15

Project timeline 20

Other projects 21

Leadership 22

Summary 23

Contents

Wells Fargo Plaza1000 Louisiana Street, 39th Floor

Houston, Texas 77002 USA

NextDecade Corporate Headquarters

2

Page 4: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

About us

Beijing

Singapore

Office

Project location

NextDecade is a liquefied natural gas (LNG) development company primarily focused on LNG export projects

and associated pipelines in Texas

NASDAQ: NEXT

Inisfree FSRU

Overview

Rio Grande LNG (RGLNG)

Galveston Bay LNG

Houston (HQ)TEXAS

3

Page 5: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Sources of capital

October 2014$5 million

York

2015 2016 2017 2018

June 2015$85 million

York, Valinor, Bardin Hill2

February 2017$25 million3

BakerHughes, a GE company

July 2017$38 million

Harmony MergerNasdaq Listing

August 2018$79 million4

Series A & B Convertible

Preferred Equity

NextDecade has ~ $100 million1 of cash to achieve a final investment decision on RGLNG

HGC

Harmony Merger Corp.

1 Pro forma and inclusive of $24 million in cash and short-term investments as of June 30, 20182 On October 10, 2018, Halcyon Capital Management announced strategic and minority investments in the firm by TPG Sixth Street Partners and Dyal Capital Partners, a division of Neuberger Berman Group. Concurrent with the transaction, Halcyon Capital Management was renamed Bardin Hill Investment Partners. Prior to October 10, 2018, investments in NextDecade were held by funds managed by Halcyon Capital Management. 3 Funds committed in multiple tranches, with final closing in August 20174 Details available in Form 8-K filings on August 7, August 24, and September 25, 2018. BlackRock investment made by funds managed by BlackRock. HGC NEXT INV LLC is a wholly owned subsidiary of Hanwha General Chemical USA Corp.

Funding update

4

Page 6: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Competitive EPC processB

EFO

RE

NO

WW

HY

WH

EN

• RGLNG’s EPC process was previously a sole-sourced engagement with McDermott

• Planned to sign lump-sum turnkey (LSTK) EPC contract in 2Q 2018

• NextDecade owns the front-end engineering and design (FEED) work completed in late 2017

• Competitive EPC process launched in August 2018 based on rigorous evaluation criteria

• Three eligible EPC contractors received invitations to bid: Bechtel, Fluor, and McDermott

• McDermott invitation stipulates it shall secure joint venture partner to remain an eligible bidder

• Process underway with interim deliverables due from contractors on a rolling basis

• Invitations to bid require FEED endorsement by year-end 2018 and LSTK EPC bids in 2Q 2019

• Execution of final LSTK EPC contract expected in 3Q 2019 prior to RGLNG final investment decision (FID)

• Deliberate approach to achieve a competitively priced, fully wrapped LSTK EPC contract

• Ensure contractor has technical and financial strength to deliver a project of RGLNG’s size and scope

• Safe, on-time, on-budget delivery of RGLNG is critically important to NextDecade and its stakeholders

EPC update

5

Page 7: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

• On October 12, 2018, the Federal Energy Regulatory Commission (FERC) issued its draft Environmental Impact Statement (EIS) on the Rio Grande LNG project and the associated Rio Bravo Pipeline

• According to the Notice of Schedule published in August 2018, FERC will issue a final EIS on April 26, 2019

• Recent policy changes to bring safe and expeditious review of – and decisions on – U.S. LNG projects

• FERC’s streamlining of the review process for LNG projects confirms that no single project will have a regulatory advantage, and that regulatory certainty will “help minimize undue administrative burdens”1

Regulatory scheduleFERC update

6

Rio Grande LNG and Rio Bravo Pipeline regulatory timeline

Section 3(a) & 7(c) FERC Application May 5, 2016

Notice of Schedule for Environmental Review August 31, 2018

Draft Environmental Impact Statement October 12, 2018

Final Environmental Impact Statement April 26, 2019

Federal Authorization Decision Deadline July 25, 2019

“There is widespread acknowledgement that the United States is poised to play an important role in serving worldwide LNG demand, and its ability to serve that demand quickly will serve the nation’s national security and economic interests.” -- FERC Chairman Kevin McIntyre1

1 Federal Energy Regulatory Commission (August 31, 2018)

Page 8: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

• Customers remain engaged on long-term LNG contracts to capitalize on RGLNG’s key competitive advantages

• We expect initial binding offtake contracts to be announced in 1Q 2019, with contracts to support a minimum of two full trains by the end of 2Q 2019

• Due to RGLNG’s optimal location in South Texas, NextDecade is pursuing long-term gas supply arrangements with producers in the Permian Basin and Eagle Ford Shale

• NextDecade is exploring transportation from the Permian to provide LNG customers access to a Waha-indexed solution

Offtake and gas supplyCommercial and gas supply update

7

NextDecade remains focused on the world’s

largest and fastest growing markets in Asia

and Europe

Earlier this year, NextDecade opened LNG

marketing offices in Beijing and Singapore

Page 9: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

0

100

200

300

400

500

2015 2016 2017 2018E 2025E Supply

1/3

2/3

• Global LNG demand will exceed available supply by as much as 150 mtpa by 2025 (30+ new trains)

• Investment in new liquefaction capacity must be made in the near future to alleviate the growing LNG supply gap

• We expect two-thirds of the supply shortfall will be supplied by North America, in particular by projects on the U.S. Gulf Coast

Ex-North America

244

290264

526

376

150

Glo

bal

LN

G d

em

and

(m

tpa)

North America, Esp. U.S. Gulf Coast

e.g. Mozambique, Qatar, PNG

Expansion, etc.

Sources: Wood Mackenzie, GIIGNL (historical figures); NextDecade estimates using data from Wood Mackenzie, GIIGNL, International Gas Union (projections)

Significant LNG demand growth by 2025

The world’s largest and/or fastest growing markets are focused on environmental

and economic benefits of LNG

314

9.0%(2015-2017)

CAGR8.3%

(2017-2018)7.6%

(2018-2025)

Market fundamentals

8

Page 10: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

0

20

40

60

80

100

2015 2016 2017 2018E 2025E

• EIA projects net dry gas production growth of 24 Bcf/d between 2017 and 2025, driven by the Permian Basin and the Northeast

• 1H 2018 production on track to meet or exceed projections

• Projected U.S. dry gas production growth, alone, between 2017 and 2025 exceeds NextDecade’s projected global LNG supply shortfall in the same period

24 Bcf/d net production growth

Equivalent to ~ 180 mtpa, versus

NextDecade’s projected global

LNG supply shortfall of 150 mtpa(see page 8)

Source: U.S. Energy Information Administration

U.S. supply growth a driving force for LNG exports

6.9%(2017-2018)

0.1%(2015-2017)

3.1%(2018-2025)

CAGR

Market fundamentals

U.S

. dry

gas

pro

du

ctio

n

(Bcf

/d)

40

50

60

70

80

U.S. dry gas production (Bcf/d)

9

74 74 74

79

98

24

5

Page 11: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

2000 2002 2004 2006 2008 2010 2012 2014 2016 2018

United States Europe Japan

Historical natural gas pricing (2000 – present)

Source: The World Bank, Development Prospects Group, Global Economic Monitoring

Notes> U.S.: Henry Hub Spot Price> Europe: Average import border price, incl. U.K. post-March 2010> Japan: Average import price (JLC, Japan LNG Cocktail)

• Significant U.S.-Asia spreads drove U.S. first wave LNG contracts and, after a temporary collapse of spreads (2015-2017), prices are strengthening and spreads are widening (2018)

• Price curves favor U.S. LNG, and abundant U.S. gas resources are expected to keep U.S. gas prices low

• The U.S. is poised to become the world’s largest LNG supplier as global demand rises in the coming years

Market fundamentals

10

Page 12: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

7.0%

9.0%

11.0%

13.0%

15.0%

17.0%

19.0%

21.0%

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2013-17 Range 2018 2013-17 Avg 2018 U.S. LNG (Asia landed)

Sources: U.S. Energy Information Administration, Platts, Bloomberg, Reuters

• Current spot LNG prices trading well above the five-year average

• June 2018 prices hit levels typically observed in the winter, indicating a market tightening

• LNG spot prices have traded at an average of 14% x Brent (15.5% x Brent during the winter and 12.5% x Brent during the summer)

• These dynamics make U.S.-priced LNG increasingly attractive as global LNG prices continue to rise

JKM spot (June 2018) at 14% slope vs. 5-year average of 12%U.S. LNG (Asia landed, June 2018) below 11% slope, and below 5-year JKM average

LNG prices strengtheningEq

uiv

alen

t sl

op

e(%

of

Bre

nt

spo

t o

il p

rice

)

Market fundamentals

11

U.S. LNG price assumes Henry Hub monthly settlement price x 115%, plus $4.75/MMBtu for liquefaction fee and shipping to Asia

JKM spot price vs. U.S. LNG (Asia landed)

Page 13: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Rio Grande LNG (RGLNG)

PERMIAN

EAGLE FORD

BARNETT

GULF of MEXICO

HAYNESVILLE

ANADARKOFAYETTEVILLE

Artist rendering

Projects (RGLNG / RBPL)

Rio Grande LNG

Location and site • 984-acre site in Brownsville, Texas

Capacity • 27 mtpa (6 x 4.5 mtpa trains)

Storage• 4 x 180,000m3 full containment

LNG tanks

Marine facilities

• Deepwater port access with supporting marine infrastructure

• Two marine jetties, berth pocket, turning basin

Technology

• Air Products C3MR®• Baker Hughes GE rotating

equipment• ABB automation systems

Gas supply• Permian Basin• Eagle Ford Shale

RGLNG is NextDecade’s marquee large-scale LNG project in South Texas

12

Page 14: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Rio Bravo Pipeline (RBPL)

Rio Bravo Pipeline

Scope and distance

• Twin 42-inch pipelines• Three 180,000-hp compressor stations• Approximately 137 miles from Agua Dulce

area to RGLNG

Capacity • 2 x 2.25 Bcf/d (4.5 Bcf/d total)

Scalable• Development pace of RGLNG determines

pipeline capital expenditures• Each pipeline supports three trains at RGLNG

Interconnection• Eight existing pipelines (6.7 Bcf/d)• Several additional pipelines from Waha have

been announced (see page 18)

Supply area• Agua Dulce area poised to attract significant

natural gas volumes from the Permian Basin and Eagle Ford Shale

RBPL is designed to deliver gas from the Agua Dulce area to RGLNG

Compressor Station 2

Compressor Station 3

Compressor Station 1

13

Projects (RGLNG / RBPL)

Page 15: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

RGLNG / RBPL development phasing

14

Storage Tanks 1 & 2 Storage Tanks 3 & 4

Jetty 1 Jetty 2

Rio Bravo Pipeline 1 Rio Bravo Pipeline 2

CommonInfrastructure

• RGLNG is a 6-train project

• RBPL is comprised of twin 42-inch pipelines, each of which can support three LNG trains

• Through optimal utilization of the common infrastructure, most efficient operations and lowest costs are achieved with three and six trains

• NextDecade can proceed to a final investment decision on RGLNG with as few as two trains

PHASE ONE PHASE TWO

Trains 1 & 2 Train 3Liquefaction Trains 4 & 5 Train 6

Note: NextDecade will not be publishing EPC cost guidance during the competitive EPC process referenced on page 5.

Projects (RGLNG / RBPL)

Page 16: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Our differentiatorsRGLNG competitive advantages

Rio Grande LNG is positioned to be a leading U.S. second wave LNG project

RESULTS

Competitive EPC costs

Highly efficient and reliable LNG plant

Ability to debottleneck to maximize throughput

Long-term, low-cost gas supply

Optimal shipping conditions

Competitive advantages

Proven approach

NextDecade’s experienced leadership,

technology selections, and project approach

lead to development confidence and

operational reliability

Optimallocation

RGLNG is located in an uncongested

deepwater port in Brownsville, Texas, with

access to a skilled labor force and abundant

natural gas resources

15

Page 17: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Our differentiatorsTechnology selections reduce risk

Competitive advantages

Partnering with industry-leading technology providers to instill development confidence and ensure operational reliability

APCI-C3MR® is the most prevalent liquefaction

technology in the industry

BakerHughes, a GE company, is a leading provider of gas turbine and compressor

equipment to the LNG industry

ABB delivers intelligent, integrated automation and

electrical solutions to improve performance and efficiency

16

Page 18: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

• RGLNG benefits from low congestion and favorable weather conditions in the Brownsville Ship Channel

• High congestion on Louisiana’s Calcasieu Ship Channel poses shipping risk to LNG customers

Louisiana | Calcasieu Ship ChannelTexas | Brownsville Ship Channel

~ 22 miles

TEXAS LOUISIANA

Distance to:RGLNG: 7 Miles

Inland LNG facilities: 22 Miles

Current traffic: 470 ships p.a. 1,400 ships p.a.

Anticipated 2023 traffic: ~ 600 ships p.a. ~ 2,200 ships p.a.

Winter season channelclosures (peak LNG export):

Wind: 3-5%Visibility: 2%

Wind: 10-16%Visibility: 10-14%

Estimated median 2023 wait time:

Est. limited due to low traffic

12.4 hours

Sources: Ausenco: Port of Lake Charles, Calcasieu Ship Channel Traffic Study (January 6, 2015); Port of Brownsville reporting and estimates

~ 7 miles

South Texas: avoiding Calcasieu congestionCompetitive advantages

LNGIndustrial

Proposed and Existing Terminals

LNGIndustrial

Proposed and Existing Terminals

17

Page 19: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Waha

Agua Dulce

Katy

HenryHub

Texas

Louisiana

Accessing the Permian: Waha to Agua Dulce

• New planned transport from Waha to the Agua Dulce and Katy markets are preferred paths for Permian Basin gas

• RGLNG is the largest planned LNG export facility in the State of Texas, and benefits from its proximity to abundant associated gas in the Permian Basin

• Proposed LNG projects in East Texas and Louisiana face higher transportation costs to source Permian gas

Italicized projects have not yet achieved a final investment decision. | 1 NextDecade estimate. A portion of the 2.0 Bcf/d is expected to flow to Agua Dulce (specific volume not disclosed). 2 Agua Dulce totals do not include RBPL’s eight planned interconnections with existing pipelines (6.7 Bcf/d). Katy totals do not include potential interconnections (up to 13 Bcf/d).

Rio Grande LNG

Galveston Bay LNG

18

ExistingProposed

LNG Terminals

1

Incremental Waha-Katy Capacity Bcf/d

Permian Highway (Kinder Morgan) 2.0

Permian-to-Katy (Boardwalk) 2.0

Total announced to-date 4.0

Incremental Waha-Agua Dulce Capacity Bcf/d

Gulf Coast Express (Kinder Morgan) 2.0

Permian Highway (Kinder Morgan) 0.7

Whistler (Targa / NextEra) 2.0

Pecos Trail (NAmerico) 1.9

Total announced to-date 6.6

2

2

Page 20: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

• The Permian Basin offers the deepest inventory of economic resource in the United States

• In the past few years, the Permian Basin has garnered significant attention and capital

• Permian Basin economics are driven by the production of oil – not by gas

• Texas and New Mexico prohibit long-term flaring of natural gas, so Permian producers must find a market for associated gas to enable oil production

• The Permian Basin is estimated to hold nearly 500 Tcf – or more than 50 years –of natural gas at breakevens below $0*

• This represents a major opportunity for LNG buyers transacting with second wave U.S. LNG projects in Texas

663

600

209173

126

72 64 52 42 41 25 23 22 19 14 14 14 12 9 4 2 2 1

0

100

200

300

400

500

600

700

800

Rem

ain

ing

Wel

lhea

d G

as (

Tcfe

)

L48 remaining resource by play and HH breakeven (PV-10) at $60 WTI

Sources: RS Energy Group (RSEG), Bloomberg | * Assumes Permian Basin natural gas production grows to 25 Bcf/d

L48 remaining resource by play and breakeven (PV-10 20:1 HH:WTI)

Rem

ain

ing

Wel

lhea

d E

UR

(B

bo

e)

0

20

40

60

80

100

120

140

160

OIL & GAS

GAS

Permian Basin

Permian Basin: superior resource and economicsCompetitive advantages

19

-$1.75

-$1.25

-$0.75

-$0.25

Waha differential to Henry Hub ($/MMBtu)

Page 21: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

RGLNG / RBPL project timelineNextDecade anticipates commencing commercial operations on RGLNG

as soon as 2023 following a final investment decision in 3Q 2019

Project timeline

20

3Q2018

2020 2023

EPCAugust 2018

Launchedcompetitive EPC process

NextDecade projections. Subject to change.

CapitalizationAugust 2018$79 million

preferred equitycapital raise

2019

RegulatoryOctober 12, 2018

Draft EIS

RegulatoryAugust 31, 2018

FERC NoS

EPC4Q 2018

FEED endorsement

Commercial1Q 2019

Initial contracts

RegulatoryApril 26, 2019

Final EIS

EPC2Q 2019

LSTK EPC bids

Commercial2Q 2019

Contracts to support two

trains and long-term gas

supply

EPC4Q 2019

Commence RGLNG

construction

RegulatoryJuly 25, 2019

Federal authorization

decision deadline

Commercial3Q 2019

Final investment

decision

EPC3Q 2019LSTK EPC contract

Commercial2023

Commence RGLNG

commercial operations

CommercialRegulatoryEPCCapitalization

LEGEND

Page 22: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Galveston Bay LNG and Inisfree FSRU

Galveston Bay LNG

Location and site • 994-acre site in Texas City, Texas

Capacity • 16.5 mtpa (3 x 5.5 mtpa trains)

Storage• 4 x 200,000m3 full containment

LNG tanks

Marine facilities

• Deepwater port access with supporting marine infrastructure

• Two marine jetties, berth pocket, turning basin

Regulatory• U.S. Department of Energy FTA

permit issued on June 13, 2018

Gas supply

• Permian Basin• Barnett Shale• Haynesville Shale• Eagle Ford Shale

Other projects

GBLNG is NextDecade’s second U.S. LNG project, located near Houston Ship Channel

Inisfree FSRU

Location and site • Port of Cork, Ireland

Capacity • 3 mtpa (regasification / import)

Storage • 175,000m3 (FSRU)

Marine facilities

• Fixed jetty, high-pressure arm• 2-km pipeline to tie-in point at

Glanagow (GNI)• Double-banked with STS via

flexible hoses

Regulatory• Permitting expected to be

initiated in 2019

Downstream markets

• Industrial (alumina, agriculture)• Power generation• Irish Balancing Point• Bunkering (marine fuel), truck

NextDecade is in exclusive negotiations to develop an import terminal in the Port of Cork

21

Page 23: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Experienced leadership team

22

Matt Schatzman | President and Chief Executive Officer• BG Group: EVP, Global Energy Marketing & Shipping • Dynegy, Inc.: President & CEO, Energy Convergence

Ben Atkins | Chief Financial Officer• GE Capital & GE Financial Services: Senior Vice President• United States Navy: Lieutenant, Submarine Officer

Krysta De Lima | General Counsel and Corporate Secretary• Bechtel: Senior Counsel, Oil, Gas & Chemicals• BG Group: Chief of Staff & VP, Legal, Trinidad Asset

Chris Migura | Deputy General Counsel• Occidental Petroleum: Assistant General Counsel• BG Group: Chief Counsel, Global LNG

Ivan van der Walt | Project Manager, RGLNG• CB&I (now McDermott): Deputy Project Director• Chevron – Kellogg JV Gorgon: Area Project Manager

Raquel Couri | VP, Human Resources & Administration• BG Group: Head of Human Resources, GEMS• BG Group: Head of Human Resources, Latin America

James MacTaggart | SVP, LNG Marketing – Asia & Middle East• Shell: General Manager, New Gas & LNG Markets – Asia• Shell: Lead Negotiator, LNG Supply

Kevin Hyatt | VP, Gas Supply & Transportation• Energy Transfer Partners: VP, Business Development• Transwestern: VP, Commercial & Business Development

Eric Garcia | Chief Accounting Officer• KPMG: Managing Director, Audit• KPMG: Senior Manager, Audit

Alfonso Puga | SVP, LNG Marketing – Europe & South America• PetroChina: Global Head of LNG Trading• Union Fenosa Gas: Manager, Gas Procurement & Trading

Patrick Hughes | VP, Corporate Strategy & Investor Relations• Height Securities: Partner, Investment Banking & Advisory• FBR & Co.: Senior Associate, Energy & Natural Resources

Ping Lee | SVP, LNG Marketing – China & Southeast Asia• BG Group: President, China• Schlumberger: Area President, Asia

Shaun Davison | SVP, Development & Regulatory Affairs• Excelerate Energy: Director, Business Development• Teekay Shipping: Director, LNG Terminals

Ariel Handler | VP, Finance & Market Analysis• Apache: Manager, Strategic Planning• Apache: Supervisor, Strategy & Planning

Leadership

Significant experience developing, marketing, constructing, and operating projects around the world

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• NextDecade is well-capitalized, with ~ $100 million1 of cash to achieve FID on RGLNG and RBPL

• EPC process ensures contractor has technical and financial strength to deliver RGLNG with a competitively priced, fully wrapped LSTK EPC contract in 3Q 2019

• FERC schedule indicates final environmental impact statement to be issued on April 26, 2019

• NextDecade anticipates a final investment decision on RGLNG in 3Q 2019

• As much as 150 mtpa of new LNG capacity must be constructed by 2025

• U.S. gas production growth between 2017 and 2025 expected to exceed estimates for global LNG supply shortfall during the same period

• Proven approach leads to development confidence, operational reliability, and ability to debottleneck and maximize throughput of RGLNG

• RGLNG’s optimal location affords access to an uncongested deepwater port and abundant associated gas from the Permian Basin and Eagle Ford Shale

• NextDecade’s leadership team has significant experience developing, marketing, constructing, and operating projects around the world

• NextDecade is well-positioned to generate substantial value for its stakeholders

ConclusionSummary

231 Pro forma estimate as of June 30, 2018

Page 25: Corporate Presentation - NextDecade€¦ · This presentation includes “forward-looking statements,”as contemplated by the Private Securities Litigation Reform Act of 1995, in

Experienced Leadership | Proven Approach | Optimal Location

Patrick HughesCorporate Strategy & Investor Relations

T: + 1 (832) 209-8131E: [email protected]

NextDecade Corporation1000 Louisiana Street, 39th Floor

Houston, Texas 77002 USA