NFE subsidiary commits to $885M senior secured notes at 12% PIK; part of Brazil separation

New Fortress Energy Inc.

$885M aggregate principal of senior secured notes due 2029, 12.00% PIK interest, no call protection or financial covenants.
Use of proceeds: ~$368M for operations/capex/working capital, $52M refinance Brazil bridge term loan, $420M refinance existing Brazil notes, $45M cash reserves.
Notes are part of broader UK recapitalization separating Brazil operations from NFE; expected close Q3 2026 subject to conditions.
Existing 2029 Noteholders can subscribe ratably; commitment premium paid in kind for commitments by May 18, 2026.
Notes convertible/exchangeable into BrazilCo debt/equity upon approvals; plans to list on UK stock exchange.

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