NFE closes $1.055B sale of Jamaica LNG business to Excelerate Energy; repays $279M debt

New Fortress Energy Inc.

Closed sale of Jamaica assets (Montego Bay terminal, Old Harbour FSRU, 150 MW CHP plant) for $1.055B cash on May 14, 2025.
Proceeds used to repay $224.1M South Power Bonds and $55.0M Term Loan A; net cash increased ~$677M.
Pro forma shows removal of Jamaica operations: revenue down ~$94M in Q1 2025, $358M in FY2024.
Recognized pre-tax gain on sale of $488.3M in pro forma 2024; non-recurring transaction costs of $45.2M estimated.
Amended RCF waives 75% asset-sale debt prepayment requirement; $270M applied to extended tranche due Sept 2025.

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