Freeport LNG provides update on restart timeline for its liquefaction facility

Freeport LNG has completed a detailed assessment of alternatives for resuming operations at its liquefaction facility following the June 8th incident and has identified a recovery plan for reinstatement of partial operations that it believes ensures the long-term safety and integrity of the facility, provides recovery execution certainty, and minimizes procurement and performance testing risks.

Although typical construction risks could impact the recovery plan, it is anticipated that initial production can commence in early to mid-November, and ramp up to a sustained level of at least 2 BCF per day by the end of November, representing over 85% of the export capacity of the facility. The recovery plan will utilize Freeport LNG's second LNG loading dock as a lay berth until loading capabilities at the second dock are reinstated in March 2023, at which time we anticipate being capable of operating at 100% of our capacity.

Freeport LNG has engaged Kiewit Energy Group Inc. (Kiewit) to perform the engineering, procurement, and reconstruction activities necessary to implement Freeport LNG's recovery effort. Kiewit has significant LNG facility experience including both greenfield and brownfield developments and large and small/mid- scale LNG projects. They have been involved in LNG projects from start to finish including, front-end engineering design, detailed engineering, procurement, construction and commissioning.

Freeport LNG continues to coordinate closely with representatives of the Pipeline Hazardous Materials Safety Administration, the Federal Energy Regulatory Commission, the U.S. Coast Guard and other applicable regulatory agencies to implement its recovery plan and corrective measures to ensure a safe and confident resumption of operations.

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