Group 1 - NextDecade Corporation (NEXT) has secured a long-term sales and purchase agreement with EQT Corporation for the purchase of 1.5 million tons per annum (mtpa) of liquefied natural gas (LNG) from Rio Grande LNG Train 5, with a contract duration of 20 years [1][9] - The price of LNG supplied under the contract will be linked to the Henry Hub natural gas price, enhancing the economic viability of the agreement [2] - NextDecade is making significant progress towards a final investment decision (FID) on Train 5, expected by the fourth quarter of 2025, and aims to achieve a positive FID for Train 4 by September 15, 2025, contingent on securing necessary funding [2][4][9] Group 2 - The Rio Grande LNG export facility's Phase 1, which includes three liquefaction units, is under construction and will provide a total capacity of 17.61 mtpa, with Trains 4 and 5 expected to add a combined capacity of 10.8 mtpa [3] - NextDecade has secured commitments to sell 3.5 mtpa of LNG from Rio Grande Train 5 under long-term agreements, with an additional 1 mtpa needed to reach FID for Train 5 [3][4][9] Group 3 - EQT Corporation's new agreement with NextDecade enhances its LNG strategy by diversifying exposure to markets with growing LNG demand, potentially leading to higher prices and supporting long-term earnings growth [5]

Financial Data and Key Metrics Changes - Reported revenues were negative $2.2 million, while adjusted revenues were $4.3 million, with a difference of $6.5 million due to adjustments related to difficulties in China [13] - Adjusted gross margin was 39%, significantly lower than the previous year's high of 57% due to product mix [7][13] - Adjusted EBITDA was negative $14.2 million compared to $6.7 million in Q2 2024, primarily due to revenue adjustments and lower product shipments [14] - Cash at the end of the quarter was $22.1 million, down from $39.9 million at the end of Q1 2025 [14] Business Line Data and Key Metrics Changes - The company launched two new products: NeXT Granite (Fab 30 sized sensor) and NeXT Basalt L1 Slim, targeting different market segments [7][9] - The company achieved 12 design wins in the first half of the year, meeting its target for the entire year [10] - The restructuring of the China business has led to tighter controls and improved financial credit checks [5] Market Data and Key Metrics Changes - Sales in India were significantly impacted due to a market pause from November to mid-April, leading to lower sales in Q2 [6] - The company is expecting significant growth in Q3 and Q4, particularly in the Indian market [6] Company Strategy and Development Direction - The company is focusing on expanding its product portfolio with higher security requirements, particularly in government ID and high-end fingerprint sensors [31][46] - Plans to consolidate the market and explore opportunities in the IAM business and government ID fingerprint sensor market [46][47] - The company aims to achieve close to NOK 50 million in quarterly revenues by 2026, with a focus on recurring revenues and design wins [48][50] Management's Comments on Operating Environment and Future Outlook - Management acknowledged short-term challenges but expressed confidence in the sales pipeline and expected improvements in cash flow [52] - The company is optimistic about becoming cash positive in Q4 and anticipates a strong second half of the year [45][51] Other Important Information - The company has secured a mass production order for the Fab 30 product, confirming market demand and product value proposition [37][39] - A potential private placement of SEK 15 million to 20 million is being discussed to address short-term liquidity needs [11] Q&A Session Summary Question: When will the first Fab 30 order be delivered? - The first mass production order is expected to be completed by Q4 this year [56] Question: Are there any other deliveries expected before Q4? - There are indications that deliveries could occur even earlier with other partners [57]

NEX T BI OM ET RI CS GR OU P ASA Q2 Presentation Aug ust 20, 2025 Disclaimer This presentation includes and is based, inter alia, on forward-looking information and statements that are subject to risks and uncertainties that could cause actual results to differ. Such forward-looking information and statements are based on current expectations, estimates and projections about global economic conditions, the economic conditions of the regions and industries that are major markets for NEXT Biometrics Group ASA ...

Key Takeaways TotalEnergies and GIP commit $1.8B to fund Train 4 at NEXT's Rio Grande LNG in Brownsville.TotalEnergies takes 10% of Train 4, while GIP invests $1.5B for a 50% stake.Train 4 and Train 5 could add 10.8 mtpa capacity, boosting U.S. LNG export strength.NextDecade Corporation (NEXT) , a U.S.-based liquefied natural gas (LNG) company, announced that it has secured a commitment of $1.8 billion toward the expansion of the Rio Grande LNG plant near Brownsville, TX. In a regulatory filing, the company ...

Part I. Financial Information [Item 1. Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) The company reported a **$149.7 million** net loss for H1 2025, driven by derivative losses, alongside increased assets and liabilities from LNG facility construction [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in thousands) | Account | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $158,537 | $148,137 | | Property, plant and equipment, net | $6,589,331 | $5,020,003 | | **Total assets** | **$7,864,850** | **$6,404,059** | | **Liabilities & Equity** | | | | Total current liabilities | $683,884 | $595,084 | | Debt, net | $5,170,547 | $3,920,425 | | **Total liabilities** | **$5,999,326** | **$4,659,673** | | Total stockholders' equity | $260,480 | $377,641 | | Non-controlling interest | $1,605,044 | $1,366,745 | | **Total equity** | **$1,865,524** | **$1,744,386** | [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) - The company is in a pre-revenue stage, reporting no revenues for the periods presented[16](index=16&type=chunk) Consolidated Statements of Operations Highlights (in thousands, except per share data) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | Total operating loss | $(56,268) | $(39,534) | $(108,184) | $(77,651) | | Derivative gain (loss) | $25,157 | $109,067 | $(143,543) | $367,939 | | Interest expense, net | $(28,833) | $(26,030) | $(56,038) | $(51,509) | | Net loss attributable to common stockholders | $(60,867) | $(32,576) | $(149,672) | $(4,230) | | Net loss per common share — basic and diluted | $(0.23) | $(0.13) | $(0.57) | $(0.02) | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Consolidated Cash Flow Summary (in thousands) | Cash Flow Category | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | $(72,722) | $(22,838) | | Net cash used in investing activities | $(1,531,338) | $(1,374,290) | | Net cash provided by financing activities | $1,668,337 | $1,305,729 | | Net increase (decrease) in cash | $64,277 | $(91,399) | | Cash, cash equivalents and restricted cash – end of period | $457,039 | $203,079 | - Investing activities primarily consisted of **$1.5 billion** in acquisitions for property, plant, and equipment related to the Rio Grande LNG Facility construction. Financing activities were driven by **$1.29 billion** in proceeds from debt issuance and **$412.7 million** from equity commitments[21](index=21&type=chunk) [Notes to Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) - The company is constructing the Rio Grande LNG Facility, with Phase 1 (three trains) under construction. Train 4 is commercialized and progressing toward a Final Investment Decision (FID), and Train 5 is also being commercialized[23](index=23&type=chunk) - Total net property, plant, and equipment increased to **$6.59 billion** as of June 30, 2025, from **$5.02 billion** at year-end 2024, reflecting the ongoing construction of the Rio Grande LNG Facility[27](index=27&type=chunk) - Total debt, net of unamortized costs, increased to **$5.17 billion** from **$3.92 billion** at year-end 2024, primarily due to draws on credit facilities to fund construction[34](index=34&type=chunk) - In July 2025, a subsidiary began entering into contingent interest rate swaps to hedge expected floating-rate payments for the financing of Train 4 construction[61](index=61&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=17&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Significant progress on Rio Grande LNG facility construction and commercial agreements for future trains, with a widened net loss of **$149.7 million** due to derivative impacts [Overview of Business and Significant Developments](index=18&type=section&id=Overview%20of%20Business%20and%20Significant%20Developments) - As of June 2025, construction progress for the Rio Grande LNG Facility was on schedule: - Trains 1 & 2 and common facilities: **48.3% complete** - Train 3: **22.7% complete**[73](index=73&type=chunk) - The company is expanding beyond the first five trains, developing Trains 6-8 which are expected to add approximately **18 MTPA** of liquefaction capacity. A FERC pre-filing for Train 6 is expected in 2025[73](index=73&type=chunk) - Key commercial agreements were signed to support future trains: - **Train 4:** A 20-year, **1.2 MTPA** SPA with Saudi Aramco and a 20-year, **1.5 MTPA** SPA with TotalEnergies - **Train 5:** A 20-year, **2.0 MTPA** SPA with JERA[73](index=73&type=chunk) - In May 2025, the company amended its senior secured loan to increase the principal by **$50 million** to a total of **$225 million**, with proceeds used for working capital and pre-FID expenses for Trains 4 and 5[73](index=73&type=chunk)[74](index=74&type=chunk) [Rio Grande LNG Facility Activity](index=20&type=section&id=Rio%20Grande%20LNG%20Facility%20Activity) - Total expected capital costs for Phase 1 (Trains 1-3) are estimated to be approximately **$18.0 billion**, covering EPC, owner's costs, contingencies, and financing[87](index=87&type=chunk) - For Phase 1, Rio Grande has secured long-term SPAs for approximately **16.2 MTPA** of LNG with a weighted average term of **19.2 years**, expected to generate approximately **$1.8 billion** in average annual fixed fees[83](index=83&type=chunk)[84](index=84&type=chunk) - The company is targeting a positive FID on Train 4 by mid-September 2025, subject to obtaining adequate financing. The financing process was launched in June 2025[92](index=92&type=chunk)[95](index=95&type=chunk) - Train 5 is also progressing toward an FID targeted by mid-September 2025, contingent on securing sufficient commercial support and financing[96](index=96&type=chunk)[99](index=99&type=chunk) [Liquidity and Capital Resources](index=23&type=section&id=Liquidity%20and%20Capital%20Resources) - NextDecade and its subsidiary Rio Grande operate with independent capital structures. Cash at the Rio Grande level is restricted to funding Phase 1 obligations and is not available for NextDecade's corporate obligations[106](index=106&type=chunk) - Phase 1 is funded by approximately **$6.2 billion** in equity capital commitments and **$11.6 billion** in senior secured non-recourse bank credit facilities[107](index=107&type=chunk) - As of June 30, 2025, NextDecade Corporation's capital resources consist of approximately **$158.5 million** in cash and cash equivalents[111](index=111&type=chunk) - The company does not expect to generate significant cash flow from operations until the first train of Phase 1 becomes operational, which is anticipated in late 2027[110](index=110&type=chunk)[112](index=112&type=chunk) [Results of Operations](index=24&type=section&id=Results%20of%20Operations) Comparison of Results of Operations (in thousands) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | :--- | :--- | | General and administrative expense | $52,049 | $33,902 | $96,991 | $66,407 | | Total operating loss | $(56,268) | $(39,534) | $(108,184) | $(77,651) | | Derivative gain (loss) | $25,157 | $109,067 | $(143,543) | $367,939 | | Net loss attributable to common stockholders | $(60,867) | $(32,576) | $(149,672) | $(4,230) | - The net loss for the six months ended June 30, 2025, increased by **$145.4 million** compared to the same period in 2024. This was primarily driven by a **$511.5 million** decrease in unrealized derivative gains and a **$30.6 million** increase in G&A expenses due to increased headcount[119](index=119&type=chunk)[123](index=123&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=26&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) As a smaller reporting company, the company is exempt from providing quantitative and qualitative market risk disclosures for this period - As a smaller reporting company, NextDecade is exempt from providing quantitative and qualitative disclosures about market risk for this reporting period[120](index=120&type=chunk) [Controls and Procedures](index=26&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of June 30, 2025, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2025[121](index=121&type=chunk) - No material changes were made to the internal control over financial reporting during the most recent fiscal quarter[122](index=122&type=chunk) Part II. Other Information [Legal Proceedings](index=27&type=section&id=Item%201.%20Legal%20Proceedings) The company reported no legal proceedings during the period - As of the reporting date, there were no legal proceedings to disclose[125](index=125&type=chunk) [Risk Factors](index=27&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported since the last Annual Report on Form 10-K - No material changes to risk factors were reported since the last Annual Report on Form 10-K[126](index=126&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=27&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company repurchased shares for employee tax liabilities on vested stock awards, not as part of a publicly announced plan - During the three months ended June 30, 2025, the company repurchased **6,839 shares** of common stock. These were shares surrendered by employees to settle tax liabilities on vested restricted stock awards[127](index=127&type=chunk) [Other Information](index=27&type=section&id=Item%205.%20Other%20Information) No Rule 10b5-1 trading plans were adopted or terminated by directors or executive officers during the quarter - No directors or executive officers adopted or terminated any Rule 10b5-1 trading plans during the quarter[130](index=130&type=chunk) [Exhibits](index=27&type=section&id=Item%206.%20Exhibits) Key exhibits filed include EPC agreements for Trains 4 and 5, credit agreement amendments, and CEO/CFO certifications - Key exhibits filed include: - EPC agreement for Train 4 and Train 5 with Bechtel Energy Inc. - First Amendment to the Credit Agreement with Rio Grande LNG Super Holdings, LLC. - CEO and CFO certifications pursuant to the Sarbanes-Oxley Act[131](index=131&type=chunk)

数据显示，NextDecade(NEXT.US)、Venture Global(VG.US)和Cheniere Energy(LNG.US)股价均涨超5%， Expand Energy(EXE.US)、EQT能源(EQT.US)涨约1%。据分析称，这项协议为正在扩张产能以满足清洁 能源需求的美国LNG出口商注入了强劲发展动力。 不过Kelty同时指出，该协议可能对天然气价格构成压力。"欧盟增加美国能源采购的计划将导致更多 LNG输入欧洲市场"，这暗示未来可能出现供应过剩局面。 根据上周日公布的框架贸易协议，为摆脱对俄罗斯天然气的依赖，欧盟承诺每年从美国采购2500亿美元 的液化天然气。据悉，2023年，美国已超越澳大利亚和卡塔尔成为全球最大LNG供应国，这主要得益 于俄乌战争引发的供应中断及制裁措施推高了全球能源价格。 值得注意的是，协议规定美国将对大多数欧盟商品征收15%的进口关税，这一税率低于市场此前担忧的 30%水平。 智通财经APP获悉，周一美股盘前，美国液化天然气(LNG)开发商股价集体大涨。此前欧盟承诺在未来 三年内斥资7500亿美元采购美国液化天然气，作为全面贸易协议的一部分。 Panmure ...

Rio Grande LNG Project Overview - Phase 1 (Trains 1-3) of the Rio Grande LNG Facility is under construction after achieving FID on July 12, 2023[13] - The project secured $18.4 billion in project financing, marking the largest greenfield energy project financing in U S history[13] - Phase 1 is supported by fixed-fee long-term LNG Sales and Purchase Agreements (SPAs) covering over 90% of its nameplate production capacity[17] - NextDecade expects an economic interest of up to 20 8% from Phase 1 operations[17] - Trains 1 and 2 are 8 1% complete as of September 2023, with engineering at 35 7%, procurement at 14 1%, and construction at 0 2%[21] Expansion Plans and Commercial Momentum - NextDecade is focused on expanding the LNG platform with Trains 4 and 5, leveraging Phase 1 agreements and commercial momentum[22] - Equity partner options are in place to potentially fund 60% of the equity financing required for each of Train 4 and Train 5[23] - TotalEnergies holds LNG SPA options for approximately 32% of the minimum expected contracted volume for each of Train 4 and Train 5[23] - The company is targeting a positive FID on Train 4 in the second half of 2024[24] Carbon Capture and Storage (CCS) Initiatives - NextDecade is committed to developing more sustainable LNG with lower emissions through project design, responsibly sourced gas, a pledge to use net-zero power, and planned carbon capture and storage[12] - The company plans to capture up to 5 million metric tonnes per annum (mta) of CO2 at the Rio Grande LNG Facility, aiming to produce the lowest carbon-intensive LNG in North America[109]

Rio Grande LNG Project Overview - Phase 1 (Trains 1-3) is fully funded and under construction, with a final investment decision (FID) achieved on July 12, 2023, for 17.6 MTPA of liquefaction capacity[12, 13] - Phase 1 secured $18.4 billion in project financing concurrently with FID[13] - Total equity commitments for Phase 1 amount to $6.1 billion, with NextDecade's equity commitment at approximately $283 million[17] - Project debt financing for Phase 1 totals $12.3 billion, including $11.1 billion in construction term loan facilities[17] - Over 90% of Phase 1 liquefaction capacity is supported by fixed-fee long-term LNG Sales and Purchase Agreements (SPAs)[17] Expansion Plans and Financing - NextDecade expects to fund 40% of equity financing required for each of Train 4 and Train 5, for an expected initial economic interest of 40%, increasing to 60% when equity partners receive certain returns[23] - TotalEnergies holds LNG purchase options for 1.5 MTPA in each of Trains 4 and 5 for 20-year free on board (FOB) LNG SPAs indexed to Henry Hub[24] - Approximately 3 MTPA of additional contracted volumes from Train 4 are expected to be needed to support project financing[26] Financial Transactions and Liquidity - NextDecade LNG, LLC entered into a $50 million senior secured revolving credit facility in January 2024 for general corporate purposes, including Train 4 development costs[27] - Rio Grande LNG, LLC (Rio Grande) entered into $251 million of senior secured loans in December 2023, reducing commitments under existing bank credit facilities for Phase 1[27] - Rio Grande issued $190 million of senior secured notes in a private placement transaction in February 2024, further reducing Phase 1 bank credit facility commitments[27] LNG Market and Demand - Estimated demand growth scenario calls for approximately 370 MTPA of incremental LNG supply by 2040[34] - Existing global regas infrastructure can accommodate a significant increase in LNG supply, with an additional ~370 MTPA of LNG supply expected to be needed by 2040[44] Carbon Capture and Storage (CCS) - Planned CCS project at Rio Grande LNG Facility expects to capture up to 5 million mta of CO2[109] - Approximately 650 U.S facilities reporting ≥1MM MTA of CO2 emissions, totaling ~1.75 billion MTA total CO2 emissions[99]

Rio Grande LNG Facility Phase 1 Construction and Financing - Rio Grande LNG Phase 1 achieved FID in July 2023 for Trains 1-3 with 17.6 MTPA liquefaction capacity[13, 49] - Project financing of $18.4 billion fully funds Phase 1 construction[49] - Phase 1 is supported by fixed-fee long-term LNG SPAs covering over 90% of liquefaction capacity[55] - NextDecade's expected economic interest in Phase 1 is up to 20.8%[55] - Trains 1 and 2 overall project completion is 18.2%, with engineering at 54.9%, procurement at 34.4%, and construction at 1.9%[16] - Train 3 overall project completion is 6.9%, with engineering at 5.2%, procurement at 16.7%, and construction at 0.0%[16] Train 4 Development and Expansion - Targeting positive FID on Train 4 in 2H 2024[20] - TotalEnergies holds an LNG purchase option for 1.5 MTPA from Train 4[22] - Approximately 3 MTPA of additional contracted volumes from Train 4 are expected to be needed to reach FID[22] - Phase 1 equity partners hold options to fund a cumulative 60% of the equity of Train 4[22] LNG Market and Demand - Estimated demand growth scenario calls for ~375 MTPA of incremental LNG supply by 2040[30] - Existing global regas infrastructure can accommodate a significant increase in LNG supply, with an additional ~375 MTPA of LNG supply expected to be needed by 2040[41] Carbon Capture and Storage (CCS) - Planned CCS project at Rio Grande LNG Facility expects to capture up to 5 million MTPA of CO2[119]

Rio Grande LNG Facility & Construction Progress - Rio Grande LNG Phase 1 (Trains 1-3) achieved FID in July 2023 and is under construction, progressing on schedule and on budget[30, 63, 67] - As of June 2024, Trains 1 and 2 are 24.1% complete (Engineering 66.4%, Procurement 45.4%, Construction 3.5%), and Train 3 is 7.8% complete (Engineering 8.4%, Procurement 18.4%, Construction 0.1%)[33] - Rio Grande LNG, LLC refinanced over $1.85 billion of the original $11.1 billion term loan facilities since FID of Phase 1 in July 2023[36] Train 4 Development & Commercial Agreements - EPC contract for Train 4 was finalized in August 2024, with a price of approximately $4.3 billion and validity through December 31, 2024[39] - A 20-year SPA with ADNOC for 1.9 MTPA of LNG has been secured for Train 4, and a Heads of Agreement with Aramco for 1.2 MTPA is in progress[23, 40] - TotalEnergies holds an LNG purchase option for 1.5 MTPA from Train 4, which NextDecade expects to be exercised, potentially providing sufficient commercial support for FID[23, 40] LNG Market Fundamentals & Demand - Estimated global LNG demand is projected to grow by approximately 350 MTPA by 2040[45] - Existing operational regas capacity is expected to accommodate up to approximately 1,150 MTPA of LNG by 2040, with over 325 MTPA in development[53] - Phase 1 is supported by fixed-fee long-term LNG Sale and Purchase Agreements (SPAs) with high caliber offtakers, SPA volumes total over 90% of Phase 1 liquefaction capacity[71, 100] Sustainability & Carbon Capture - The Rio Grande LNG Facility is designed to produce less-carbon-intensive LNG through project design, responsibly sourced gas, a pledge to use net-zero electricity, and a proposed CCS project[27, 61] - Next Carbon Solutions is developing end-to-end carbon capture and storage (CCS) solutions, including a proposed project at the Rio Grande LNG Facility with a target of capturing up to 5 million metric tonnes per annum of CO2[13, 122, 130]