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The Woodlands, TX, - October 28, 2025 Excelerate Energy, Inc. (the "Company" or "Excelerate") (NYSE: EE) today announced that it has executed a definitive commercial agreement with a subsidiary of Iraq's Ministry of Electricity for the development of the country's first liquefied natural gas (LNG) import terminal at the Port of Khor Al Zubair. The agreement was signed at the Office of the Prime Minister in a ceremony attended by Excelerate's President and CEO Steven Kobos, U.S. Deputy Secretary of Energy James Danly, Chargé d'Affaires of the U.S. Embassy in Baghdad Joshua Harris, Iraq's Prime Minister Mohammed Shia' al-Sudani, and Minister of Electricity Ziyad Ali Fadhil. "The landmark agreement we reached today with the Ministry of Electricity demonstrates Excelerate's strong commitment to Iraq's energy future and regional stability," said Steven Kobos, President and CEO of Excelerate Energy. "By combining terminal development, LNG supply, and operational expertise, we are helping Iraq secure reliable energy, diversify its fuel mix, and strengthen its long-term energy security." "Strategically, this project extends the reach of Excelerate's global infrastructure platform deeper into the Middle East and represents our first fully integrated floating LNG import terminal with supply in the region," Kobos added. "By executing a single agreement that encompasses both terminal development and LNG supply, we are responding to the growing global demand for regasification infrastructure and reinforcing Excelerate's position as a leading provider of integrated LNG solutions." The integrated project includes a five-year agreement for regasification services and LNG supply with extension options, and a minimum contracted offtake of 250 million standard cubic feet per day (MMscf/d). Under the agreement, Excelerate will construct the floating LNG import terminal, which is designed to accommodate a guaranteed 500 MMscf/d of regasification capacity. The Company will deploy Hull 3407, its newest floating storage and regasification unit (FSRU), and will be responsible for delivering the topside equipment and berth modifications to enable FSRU operations at the jetty. The total project investment is expected to be approximately $450 million, inclusive of the cost of the FSRU. As part of the integrated arrangement, Excelerate will serve as the LNG supplier to the terminal. Commercial operations are expected to commence in 2026, subject to final permitting and construction timelines, and other closing conditions. Hull 3407: A Strategic Fit Excelerate's newest FSRU, Hull 3407, is currently under construction by HD Hyundai Heavy Industries in South Korea and is on track for delivery in 2026. The vessel is designed with a storage capacity of 170,000 cubic meters and a regasification capacity of up to 1 billion standard cubic feet per day (1,000 MMscf/d). In addition to its high send-out capability, Hull 3407 features best-in-class boil-off gas management, ensuring operational efficiency and reliability. Hull 3407's advanced design and flexible deployment capabilities make it ideally suited to meet Iraq's large-scale and urgent energy needs. Strengthening Iraq's Energy Security The floating LNG import terminal marks a historic milestone for Iraq, enabling the country to access global LNG markets for the first time. By diversifying its fuel supply, Iraq is expected to reduce reliance on imported pipeline gas, enhance energy security, and support its rapidly growing electricity demand. The project has been developed in close collaboration with the Iraqi government and enjoys strong support from both Iraqi and U.S. government stakeholders. It represents not only a commercial partnership but also a strategic step toward enhancing Iraq's long-term energy security. About Excelerate Energy Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG-to-power value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from floating LNG terminals to infrastructure development to LNG supply and power generation. Excelerate has a presence in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, Jamaica, Karachi, London, Rio de Janeiro, Singapore, Washington, D.C., and Wilhelmshaven. For more information, please visit www.excelerateenergy.com. Excelerate Energy L.P. press release 
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