FOURTH QUARTER 2024 RESULTS February 27, 2025 Golar LNG Limited 2024 I 1 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. W ...

Golar LNG Limited (NASDAQ:GLNG) Q4 2024 Earnings Conference Call February 27, 2025 8:00 AM ET Company Participants Karl Fredrik Staubo – Chief Executive Officer Eduardo Maranhão – Chief Financial Officer Conference Call Participants Ben Nolan – Stifel Chris Robertson – Deutsche Bank Alexander Bidwell – Webber Research & Advisory Greg Lewis – BTIG Petter Haugen – ABG Sundal Collier Fredrik Dybwad – Fernley Securities Operator Welcome to the Golar LNG Limited 4Q 2024 Presentation. After the slide presentation ...

Core Insights - Golar LNG Limited has executed agreements to sell the Golar Arctic, a 2003 built steam turbine LNG carrier, for USD 24 million before transaction-related expenses, marking the company's exit from the LNG shipping segment [1][3] - The sale of the Golar Arctic is part of Golar's strategic transition to focus on FLNG infrastructure, completing a 50-year journey in LNG shipping since the delivery of its first LNG carrier in 1975 [3] Company Developments - The Golar Arctic is the last LNG carrier in Golar's fleet, and the transaction is expected to close in Q1 2025 [1] - Following the sale, Golar will have fully exited its legacy shipping business, allowing the company to concentrate on expanding its market-leading position in FLNG [3] Industry Context - The transition from LNG shipping to FLNG infrastructure reflects broader trends in the maritime LNG sector, where companies are increasingly focusing on innovative infrastructure solutions [3]

Core Viewpoint - Golar LNG Limited (GLNG) is enhancing its position in the floating LNG (FLNG) sector through strategic acquisitions, leading to impressive share price performance and potential investment opportunities [1]. Factors Favoring GLNG Stock - The company's shares have surged 92% over the past six months, significantly outperforming the industry's decline of 16.7% [2]. Earnings Estimates and Performance - The Zacks Consensus Estimate for earnings per share has been revised upward by 17.1% for Q4 2024 and by 2.5% for 2025, indicating strong broker confidence in the stock [3]. - Golar LNG has a positive earnings surprise history, exceeding the Zacks Consensus Estimate in three of the last four quarters with an average surprise of 30.2% [4]. Growth Factors - Golar LNG's acquisition of minority interests in the FLNG Hilli for $90.2 million strengthens its market position. The FLNG Hilli is contracted with Perenco in Cameroon until 2026 and will move to Argentina under a 20-year contract, contributing an additional $0.5 billion to adjusted EBITDA backlog [5]. Shareholder Returns - In 2023, Golar LNG distributed over $168 million in dividends and buybacks, with a recent dividend payout of $0.25 per share in Q3 2024. There remains $74.1 million available from a $150 million share buyback scheme [6]. Financial Position - As of the end of Q3 2024, Golar LNG held approximately $732 million in cash and cash equivalents, with a net debt of $646 million. The current ratio was 1.55, indicating sufficient liquidity to meet debt obligations [7][8].

Transaction Details - Golar LNG Limited has entered into a share purchase agreement to sell all its shares in Avenir LNG Limited to Stolt-Nielsen Gas Ltd for approximately USD 40 million [1] - The transaction is expected to be completed during the first quarter of 2025, subject to the fulfilment of conditions under the share purchase agreement [1] Golar's Remaining Stake in HIGAS - Golar will retain a 25% shareholder position and continue as a debt provider to Higas Srl, the HIGAS LNG storage terminal in Sardinia [2] - As of the end of October 2024, the book value of HIGAS was USD 40.5 million (on a 100% basis), comprising USD 24.7 million in shareholder loans and USD 15.8 million in shareholders' equity [2] Strategic Rationale - The sale aligns with Golar's strategy to focus on expanding its market-leading FLNG (Floating Liquefied Natural Gas) position [3] - Golar's investment in Avenir LNG was no longer considered a core asset following the sale of Hygo Energy Transition Ltd in 2021 [3] - Golar played a key role in founding Avenir LNG, which has grown into one of the largest small-scale LNG shipping companies globally [3]

Core Points - Golar LNG Limited announced that FLNG Gimi received feed gas from the bp operated FPSO on the Greater Tortue Ahmeyim project, marking the commencement of full commissioning [1] - The first LNG export cargo is expected in Q1 2025, with full Commercial Operations Date anticipated in Q2 2025, contingent on meeting all conditions [1] - The receipt of gas will lead to an upward adjustment to the Commissioning Rate under the commercial reset agreed in August 2024, triggering a 20-year Lease and Operate Agreement [2] - This agreement is expected to unlock approximately $3 billion of Adjusted EBITDA Backlog, which includes both capital and operating elements recognized in the balance sheet and income statement [2]

Core Viewpoint - Golar LNG's recent performance has shown a 24.8% increase in share price since the last earnings report, outperforming the S&P 500, raising questions about the sustainability of this trend leading up to the next earnings release [1] Financial Performance - Golar LNG reported Q3 2024 earnings of 53 cents per share, exceeding the Zacks Consensus Estimate of 37 cents, although the earnings declined year over year [2] - Revenues for the quarter were $64.8 million, meeting the Zacks Consensus Estimate but reflecting a 4% decline year over year [3] - Adjusted EBITDA was $59 million, which represents a 21% decline year over year [4] Cash and Debt Position - The company ended Q3 2024 with cash and cash equivalents of $732.06 million, an increase from $527.59 million at the end of the previous quarter [4] - Golar LNG's share of contractual debt rose by 25% to $1.46 billion by the end of the reported quarter [5] Dividend and Share Buyback - The board approved a dividend of 25 cents per share for Q3 2024, scheduled for payment on or around December 2, 2024, to shareholders of record as of November 25, 2024 [5] - Of the $150 million share buyback program, $74.1 million remains available [5] Market Sentiment and Outlook - Estimates for Golar LNG have remained flat over the past month, indicating a lack of significant changes in market expectations [6] - The company currently holds a Zacks Rank of 3 (Hold), suggesting an expectation of an in-line return from the stock in the coming months [8] Investment Scores - Golar LNG has a subpar Growth Score of D, a Momentum Score of F, and a Value Score of F, resulting in an overall aggregate VGM Score of F, placing it in the fifth quintile for investment strategy [7]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2024 Commission File Number: 000-50113 Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F [ X ] Form 40-F [ ] INFORMATION CONTAINED IN THIS FORM 6-K REPORT Included is the Overview, Operating and Financial Review for the ...

Financial Data and Key Metrics Changes - Golar LNG ordered its third FLNG, a Mark II FLNG with an annual liquefaction capacity of 3.5 million tonnes per annum, representing a 70% increase in Golar's own liquefaction capacity [4] - The Mark II FLNG is expected to be delivered by 2027 and will be the first available FLNG for charter globally [4] Business Line Data and Key Metrics Changes - The existing FLNGs, particularly Hilli, continued to demonstrate market-leading operational performance during the quarter [5] Market Data and Key Metrics Changes - No specific market data or key metrics changes were provided in the available content Company Strategy and Development Direction and Industry Competition - The company is focusing on expanding its liquefaction capacity through the new Mark II FLNG, which is expected to enhance its competitive position in the market [4] Management's Comments on Operating Environment and Future Outlook - Management has indicated positive progress for the existing FLNGs and is optimistic about the operational performance moving forward [5] Other Important Information - The presentation included forward-looking statements, emphasizing the company's growth strategy and future projects [4] Q&A Session Summary - No specific questions and answers from the Q&A session were provided in the available content

Group 1 - Golar LNG Limited has successfully priced USD 300 million in senior unsecured bonds in the Nordic bond market, maturing in September 2029 with an interest rate of 7.75% per annum [1] - The net proceeds from the bond issue will be used for capital expenditure, refinancing of debt, and general corporate purposes [1] - An application will be made for the bonds to be listed on the Oslo Stock Exchange [1] Group 2 - DNB Markets and Pareto Securities acted as Global Coordinators and Joint Bookrunners, while Clarksons Securities and Fearnley Securities served as Joint Bookrunners in the bond issue [2] Group 3 - Golar LNG is a NASDAQ listed maritime LNG infrastructure company with a 75-year history, known for pioneering maritime LNG infrastructure including the world's first Floating LNG liquefaction terminal and Floating Storage and Regasification Unit projects [3] - The company is focused on FLNG and is the only proven provider of FLNG as a service, owning the world's largest fleet of FLNG units by annual liquefaction capacity [3] - Golar LNG has a market-leading operational track record in the industry [3]