Golar Lng Limited · NASDAQ:GLNG
Golar Lng — Q2 2026 Earnings Presentation
31 slides from Golar Lng's earnings presentation, Aug 13, 2026
Slide 1: Second Quarter 2026 Results
SECOND QUARTER 2026 RESULTS August 13, 2026 Golar LNG Limited 2026 I
Slide 2: Forward looking statements
Forward looking statements This press release contains forward-looking statements actual results to differ materially from those in the activities, financings or relationships during the review related costs, repairs and maintenance and spares; (as defined in Section 21E of the Securities Exchange A
Slide 3: Golar LNG | Market-leading FLNG operator with visible growth
Golar LNG | Market-leading FLNG operator with visible growth FLNG ASSET PORTFOLIO KEY FIGURES $5.2BN OPERATING FLNG ASSETS FLNG UNDER CONSTRUCTION Market Cap2 12+MTPA Total Golar controlled liquefaction capacity • Completed contract in Cameroon • Repositioning to Singapore for modifications • Operat
Slide 4: Adjusted EBITDA backlog of ~$17bn before commodity upside
Adjusted EBITDA backlog1,5 of ~$17bn before commodity upside, further earnings potential from FLNG #4 1,5 Golar LNG Limited 2026 I 4
Slide 5: Significant accretion potential of Golar's FLNG #4
Significant accretion potential of Golar’s FLNG #4 41% Increase in Golar controlled liquefaction capacity from 8.6 MTPA to 12.1 MTPA ~50% Potential annual earnings increase if contracted at similar terms to the FLNG Esperanza Diversification of Golar earnings backlog Replicable model with options fo
Slide 6: Golar - The only proven provider of FLNG as a service
Golar - The only proven provider of FLNG as a service Overview of the global FLNG fleet by Owner 12.1 Under Construction (2) Under Construction FLNG #2 FLNG #1 10.0 3.5 Operating capacity 3.6 3.5 4.7 4.1 (MTPA) 2.4 3.6 3.0 2.7 0.6 2.0 1.2 4.1 1.2 3.4 3.6 3.0 2.4 1.5 1.2 Company Contract Liquefaction
Slide 7: Securing attractive FLNG delivery in a tight FLNG supply market
Securing attractive FLNG delivery in a tight FLNG supply market Global FLNG fleet by Shipyard Newbuild FLNGs Conversion FLNGs FLNG #4 MKII 18.7 MKII / Fuji FID for second MKII FLNG for delivery PFLNG Satu Signed LOI reserving 3.3 within 2029 Alam Guyub yard slot for MKI or MKII FLNG order Nguya FLNG
Slide 8: FLNG can diversify supply in an increasingly concentrated LNG market
FLNG can diversify supply in an increasingly concentrated LNG market Increased LNG supply concentration Geopolitical events increasing supply uncertainty FLNG enables diversified supply of LNG Changes in global LNG 2026 Jan-May MT - YoY 20 32 mtpa 15 10 103 mtpa 10 mtpa 5 Gimi FLNG 2.7 mtpa 98 mtpa
Slide 9: Q2 Business update
Q2 Business update Group results Summary Golar LNG Limited 2026 I 9
Slide 10: Recent highlights & developments
Recent highlights & developments Continued strong operational performance with FLNG Gimi delivering 15% above its contractual day rate and 41st cargo offload completed FLNG Hilli ended its 8-year contract in Cameroon with 100% economic uptime since start-up, offloading 156 cargoes and is repositioni
Slide 11: FLNG #1 | Hilli successfully concluded operations in Cameroon
FLNG #1 | Hilli successfully concluded operations in Cameroon FLNG Hilli highlights Start date of contract term (COD) June 2018 End date of current contract term July 2026 Number of cargoes offloaded – Q2 2026 5 Number of cargoes offloaded from Cameroon 156 LNG produced during 8-year Cameroon contra
Slide 12: FLNG #1 | Delivering lasting impact for local communities in Cameroon
FLNG #1 | Delivering lasting impact for local communities in Cameroon Local Content and Community Impact Employment 100+ Cameroonians employed 70 scholarships awarded 40%+ local employees onboard 8 water boreholes constructed Hilli during operations 17 solar streetlights installed 400 training cours
Slide 13: FLNG #2 | Gimi continues producing above contractual levels
FLNG #2 | Gimi continues producing above contractual levels FLNG Gimi highlights FLNG Gimi – continues its strong operational performance 14 Start date of contract term (COD) June 2025 Prelude (3.6 MTPA) 12 Coral South (3.4 MTPA) End date of contract term June 2045 Hilli (2.4 MTPA) Cumulative LNG Pr
Slide 14: FLNG #3 | Esperanza project on schedule and on budget
FLNG #3 |Esperanza project on schedule and on budget Esperanza progressing toward contract start-up in 2028 Midship section launched Forward and aft sections status • All conditions precedent successfully completed in October 2025 for 20-year contract of FLNG Esperanza with SESA in Argentina • $8bn
Slide 15: Argentina | Infrastructure continues to advance towards FLNGs arrival
Argentina | Infrastructure continues to advance towards FLNGs arrival Construction activities at compressor SESA infrastructure execution progressing to plan station Offshore pipeline trenching activities SESA • Including onshore pipe laying and offshore pipe trenching, construction of compressor st
Slide 16: FLNG #4 | The earliest available FLNG globally
FLNG #4 | The earliest available FLNG globally Confirmed FID for Golar’s FLNG #4 3.5 MTPA MKII FLNG • Golar and CIMC Raffles announces today the signing of Golar’s FLNG #4 , and the second 3.5 MTPA MKII FLNG to be constructed at CIMC Raffles Shipyard in Yantai, China • The FLNG vessel will be simila
Slide 17: FLNG growth initiatives
FLNG growth initiatives CIMC Raffles, Yantai China Seatrium, Singapore Signed LOI with Seatrium shipyard, securing yard slot for incremental EPC contract for FLNG #4 includes option for incremental FLNG unit FLNG units Strong existing relationship through FLNG Esperanza construction, now Strong exis
Slide 18: Q2 Business update
Q2 Business update Group results Summary Golar LNG Limited 2026 I 18
Slide 19: Financial performance | Q2 2026
Financial performance | Q2 2026 Q2 2026 financial highlights Q2 2026 financial highlights and recent updates Q2 2026 Q1 2026 2026 YTD 2025 YTD Operating Revenue ($M) Adjusted EBITDA1 ($M) Net Income ($M) $m $m $m $m 130 138 127 106 102 Total operating revenue 130 138 268 138 56 Commodity-linked earn
Slide 20: Balance sheet flexibility to fund continued FLNG growth
Balance sheet flexibility to fund continued FLNG growth Q2 2026 net interest bearing debt4 FLNG financing optimization targeting 4-5x Adjusted EBITDA1 FLNG Hilli FLNG Esperanza Q2 2026 Q1 2026 2,000 $m $m 1,600 Potential to 1 release up to Golar's share of contractual debt 2,682 2,705 Potential to ~
Slide 21: Strengthening commodity markets unlock significant commodity-linked revenue potential
Strengthening commodity markets unlock significant commodity- linked revenue potential Commodity price development Significant upside potential in Golar’s commodity-linked earnings Forward curve as at beginning March 2026 20 Forward curve as at mid-August 2026 • FLNG Hilli generated > $654m commodit
Slide 22: Strong contracted EBITDA with attractive commodity-linked upside
Strong contracted EBITDA with attractive commodity-linked upside Pathway to ~50% annual earnings increase if FLNG #4 contracted at similar terms Significant earnings upside potential from SESA to the FLNG Esperanza contract FOB-linked earnings 3.9bn 4,000 Annual Base Fixed Adjusted EBITDA1,7, before
Slide 23: FLNG combines supply diversification with compelling charterer economics
FLNG combines supply diversification with compelling charterer economics Illustrative margin to Charterer on 3.5 MTPA MKII FLNG ($/MMBTU) Illustrative Operating Margin - Charterer 15 ~8 Total annual Operating margin ~8 Operating Margin18 per cargo ~2 $1.3bn ~50 cargoes $25m per annum ~3 ~3 Costs Mar
Slide 24: Summary
Q2 Business update Group results Summary Golar LNG Limited 2026 I 24
Slide 25: Summary
Summary Leading global FLNG platform with 12.1 MTPA of controlled capacity 100% economic uptime and delivered 197 LNG cargoes to date Adjusted EBITDA backlog1,5 of ~$17bn before commodity upside and inflationary $17bn+ adjustments, further upside in charter for FLNG #4 FLNG Hilli, FLNG Gimi and FLNG
Slide 26: Appendix
Appendix Golar LNG Limited 2026 I 26
Slide 27: Appendix: Golar Q2 2026 Debt Summary
Appendix: Golar Q2 2026 Debt Summary Total Golar Cash1: ~$0.9bn Golar LNG Limited Golar LNG Limited: $300m Unsecured Bond due 2029 (7.00%) (Nasdaq: GLNG) $575m Unsecured Notes due 2030 (7.50%) $500m Convertible Bond due 2030 (2.75%) Gimi Holding Company Golar Hilli LLC Limited 70% Gimi MS Corporatio
Slide 28: Appendix: Fleet summary
Appendix: Fleet summary Liquefaction Current Contract Year of Delivery Vessel Name Capacity Flag Type Ownership Counterparty Expiration/ from Shipyard (MTPA) Commencement Perenco/SNH July 2026 FLNG Hilli 2017 2.45 Marshall Islands FLNG Moss 100% SESA 20-year contract to commence H2 2027 FLNG Gimi 20
Slide 29: Appendix: Adjusted EBITDA reconciliation
Appendix: Adjusted EBITDA1 reconciliation Three Months Ended June 30, March 31, June 30 (in thousands of $) 2026 2026 2025 Net Income 55,835 101,804 30,779 Income tax expense 1,724 923 439 Net income before income taxes 57,559 102,727 31,218 Depreciation and amortization 14,249 16,305 12,206 Unreali
Slide 30: Appendix: Endnotes
Appendix: Endnotes 1. Non-GAAP Measures: Please see our Q2 2026 and Q1 2026 earnings release for a reconciliation to the most comparable US GAAP measure and the rationale for the adjustments: https://www.golarlng.com/investors/quarterly-reports/2026 2. Shares issued and outstanding as of 12 August 2
Slide 31: Appendix: Abbreviations used
Appendix: Abbreviations used COD Commercial Operations Date EBITDA Earnings before interest, taxes, depreciation and amortization EPC Engineering, Procurement and Construction FLNG Floating Liquefaction Natural Gas vessel FOB Freight On Board GTA Greater Tortue Ahmeyim JKM Japan Korea Marker LOI Let