LVS Advisory, a New York City-based full-service investment firm, recently released its third-quarter 2025 investor letter. A copy of the letter can be downloaded here. The LVS Growth Portfolio gained 15.7% for the first three quarters, and the LVS Event-Driven Portfolio gained 10.4% for the same period, net of all fees and expenses. This compares to a 14.8% gain for the S&P 500 and a 7.3% return for the high-yield bond index. The main focus of the portfolio over the past two years has been investments in ...

Core Insights - Golar LNG Limited (GLNG) reported mixed third-quarter 2025 results with earnings missing estimates while revenues exceeded expectations [1][8] - Quarterly earnings were 43 cents per share, below the Zacks Consensus Estimate of 46 cents, and showed a year-over-year decline [1][8] - Revenues reached $122.5 million, surpassing the Zacks Consensus Estimate of $121.4 million, and improved by 89% year over year [1][8] - Adjusted EBITDA was $83.42 million, reflecting a 41% year-over-year increase [1] Financial Position - As of the end of Q3 2025, GLNG had cash and cash equivalents of $611.17 million, down from $783.42 million in the previous quarter [2] - The company's share of contractual debt increased by 38% year over year to $2.02 billion [2][8] - A dividend of 25 cents per share was approved for Q3 2025, to be paid on or around Nov. 24, 2025 [2] Shareholder Actions - GLNG's board approved a new $150 million share buyback program on Nov. 4, 2025, following the full utilization of a previous buyback program [3] - As of Sept. 30, 2025, there were 102.4 million shares issued and outstanding [3] Contracts and Agreements - On Oct. 23, 2025, GLNG finalized a 20-year charter agreement with Southern Energy S.A. in Argentina, securing an estimated $8 billion in net earnings backlog [4] - The charter involves Golar's 3.5 MTPA MK II floating liquefied natural gas (FLNG) unit, expected to generate approximately $400 million in annual EBITDA [4] Industry Context - Other companies in the industry, such as Vista Energy S.A.B. de C.V., reported strong earnings, with Vista's adjusted EPS of $1.48 beating estimates [7] - Chevron Corporation also reported adjusted EPS of $1.85, exceeding expectations, indicating a competitive landscape in the oil and gas sector [10]

Financial Data and Key Metrics Changes - The existing fleet of three FLNGs is fully contracted with a total EBITDA backlog of $17 billion before commodity upside and inflationary adjustments [2][4] - The company generated $221 million of adjusted EBITDA over the last 12 months, with a net income of $46 million for the quarter [3][28] - The cash position stands at $1 billion, with a net debt position of approximately $1.4 billion [3][28] Business Line Data and Key Metrics Changes - Hilli generated $51 million of adjusted EBITDA, while GIMI contributed $48 million during the quarter [27] - The company added $8 billion of firm EBITDA backlog through the successful fulfillment of all conditions precedent (CPs) for the Mark II's 20-year charter in Argentina [6][7] Market Data and Key Metrics Changes - The company is observing strong interest in long-term offtake agreements in Argentina, particularly due to the country's significant shale gas reserves [42] - The FLNG industry is experiencing increased adoption, with a growing number of projects being planned globally [22][75] Company Strategy and Development Direction - The key focus is on developing the fourth FLNG unit, with significant technical and commercial progress made in deciding on size and design [2][3] - The company aims to maintain a maximum of one unchartered FLNG at a time while pursuing long-term infrastructure contracts [23][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the earnings visibility for all assets through 2045 and beyond, with expectations for EBITDA to quadruple by 2028 [4][30] - The company is positioned to benefit from lower production costs compared to the largest LNG producers, enhancing its competitive advantage [25][81] Other Important Information - A new $150 million buyback program has been approved, continuing the company's track record of returning capital to shareholders [30][38] - The company is in advanced stages of securing a $1.2 billion bank refinancing facility for GIMI, expected to close within the quarter [11][31] Q&A Session Summary Question: Comments on CESSA's strategy for long-term offtake agreements - Management noted that CESSA is actively working to lock in offtake for Hilli volumes and expects to sign contracts soon, given the strong interest from major industrial and trading houses [42][43] Question: Future projects and CAPEX to EBITDA ratio - Management indicated that while there is cost inflation, they aim to target similar CAPEX to EBITDA ratios for new projects as seen in existing projects [44][45] Question: GIMI's capacity and potential for production increase - Management confirmed that GIMI's nameplate capacity is 2.7 MTPA, with potential to produce more than 2.4 MTPA through debottlenecking exercises [48][49] Question: Competition in the FLNG market - Management acknowledged increased competition for shipyard slots and long lead items but emphasized that Golar remains the only proven provider of FLNG as a service [51][52] Question: Buyback program metrics and deployment - Management stated that the new buyback program will be executed opportunistically, similar to past approaches [56][57] Question: Status of the pipeline for Argentina - Management provided updates on the pipeline construction timeline, indicating that it is expected to be completed within the timeline for Mark II's arrival [70][71]

November 5, 2025 Golar LNG Limited 2025 I Forward looking statements This press release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflects management's current expectations, estimates and projections about its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may occur in the future are forward-looking statements. Words such as "if," "subject to," ...

Exhibit 99.1 INTERIM RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025 Highlights and subsequent events FLNG Hilli: Hilli has offloaded its 142nd cargo. The existing charter contract in Cameroon ends in July 2026. During Q3 2025, Golar selected Seatrium shipyard for the re-deployment scope following the unit's exit from Cameroon and before starting 20-years of operations in Argentina. Hilli is expected to enter Seatrium's Singapore yard in the third quarter of 2026 for upgrades and life extension works before ...

Core Insights - Golar LNG Limited has reported a net income of $31 million for Q3 2025, with an Adjusted EBITDA of $83 million and total cash of $661 million, prior to bond offering proceeds in October 2025 [6][21][26] - The company has secured long-term contracts for its FLNG fleet, with a combined Adjusted EBITDA backlog of $17 billion, indicating strong future earnings visibility [6][8][11] - Golar is actively pursuing growth opportunities in the FLNG sector, with plans for new projects and potential expansions in existing contracts [12][15][19] Financial Performance - Q3 2025 net income attributable to Golar was $31 million, a significant improvement from a net loss of $34.8 million in Q3 2024 [21] - Total operating revenues for Q3 2025 reached $122.5 million, an increase of 89% compared to $64.8 million in Q3 2024 [21] - Adjusted EBITDA for Q3 2025 was $83.4 million, up 41% from $59 million in Q3 2024 [21] Operational Highlights - FLNG Hilli has completed its 142nd cargo and is set for upgrades at Seatrium's Singapore yard in Q3 2026 before commencing operations in Argentina in Q2 2027 [1][6] - FLNG Gimi is performing well under its 20-year charter with BP, with production frequently exceeding base capacity, contributing to a net earnings backlog of approximately $3 billion [4][6] - The MKII FLNG project has received all necessary governmental approvals and is expected to solidify an $8 billion Adjusted EBITDA backlog over 20 years [7][8] Debt and Financing - As of Q3 2025, Golar's share of contractual debt stood at $2.03 billion, with a net debt position of $1.37 billion [28][39] - The company is in advanced stages of securing a new $1.2 billion bank financing agreement for Gimi, expected to close in Q4 2025 [5] - Golar has entered the U.S. bond market with a $500 million offering of senior unsecured notes, which will be used to repay existing debt [6][25] Strategic Initiatives - Golar is focusing on enhancing operational efficiencies and debottlenecking production capacity for the GTA project [5] - The company is evaluating asset-level financing to support growth opportunities in the FLNG sector [10] - A new $150 million share buyback program has been approved, reflecting confidence in the company's financial position and growth outlook [19]

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Group 1 - Golar LNG (GLNG) shares increased by 9% to $41.53, following a significant trading volume, contrasting with a 6.1% loss over the past four weeks [1][2] - The company secured a 20-year charter agreement with Southern Energy for the 3.5 MTPA MKII FLNG, generating approximately $8 billion in net earnings backlog and a 30-year LNG export permit, which positively impacted share prices [2] - Golar LNG is expected to report quarterly earnings of $0.46 per share, reflecting a year-over-year decline of 13.2%, while revenues are projected to rise by 89.9% to $121.38 million [3] Group 2 - The consensus EPS estimate for Golar LNG has remained stable over the last 30 days, indicating that stock price movements may not sustain without earnings estimate revisions [4] - Golar LNG holds a Zacks Rank of 3 (Hold), similar to Petrobras, which has also seen a decline in its stock price over the past month [5][6]

Core Viewpoint - Golar LNG Limited has successfully secured a 20-year charter for its MKII FLNG unit, establishing a significant earnings backlog and enhancing its operational visibility in the LNG sector [1][2]. Group 1: Charter Agreement and Financial Impact - The 20-year charter of the MKII FLNG solidifies a net earnings backlog of $8 billion over 20 years, translating to an annual EBITDA of $400 million for Golar, prior to commodity exposure and inflation adjustments [2]. - The charter includes favorable commodity exposure through both the FLNG commodity tariff and Golar's 10% stake in Southern Energy S.A. (SESA) [2]. Group 2: Project Development and Timeline - The MKII FLNG, with a capacity of 3.5 MTPA, is currently being converted at CIMC Raffles Shipyard in Yantai, China, and is on track for delivery by the end of 2027, with operations expected to commence in 2028 [3]. - The total conversion budget for the MKII FLNG is approximately $2.2 billion, with $1.0 billion already spent, all funded through equity [3]. Group 3: Regulatory Approvals and Strategic Position - The project has received all necessary governmental approvals, including a 30-year LNG export authorization in Argentina and qualification as a Strategic Investment under the Large Investments Incentive Regime (RIGI) [4]. - Golar's CEO highlighted that with the confirmation of the 20-year charter, all three existing FLNGs now have 20 years of earnings visibility, amounting to a combined EBITDA backlog of $17 billion before commodity exposure [5]. Group 4: Future Growth Opportunities - With the existing fleet fully contracted for the next 20+ years, Golar will focus on new FLNG growth opportunities, leveraging its position as a proven provider of FLNG as a service to create value through gas monetization solutions [6].

Group 1 - Goldman Sachs initiates a "Buy" rating for Golar LNG (GLNG.US) with a target price of $54, highlighting the company's strong contract base and advantages in the expanding floating liquefied natural gas market [1] - The company is well-positioned to monetize low-cost offshore natural gas reserves globally, focusing on the conversion and operation of floating liquefied natural gas production facilities [1] - Goldman Sachs projects Golar LNG's annualized EBITDA to grow from $260 million in 2025 to $800 million by 2028, with new projects and long-term agreements covering approximately 90% of its capacity being key growth drivers [1] Group 2 - Upcoming new contracts are expected to be critical catalysts for the stock price increase [1] - Golar LNG provides services to the global natural gas and marine energy markets through the design, conversion, ownership, and operation of floating liquefied natural gas infrastructure [1] - The company is included in the investment portfolio of RIT Capital Partners, which holds $41.19 million worth of Golar LNG stock, accounting for 5.16% of its portfolio [1]