Final investment decision for MK II 3.5 million tonnes per year FLNG Page 1

Golar LNG Limited (“Golar” or the “Company”) today announces that it has signed an Engineering, Procurement and Construction (“EPC”) Agreement with CIMC Raffles (“CIMC”) for a MK II Floating LNG Production (“FLNG”) vessel with an annual liquefaction capacity of 3.5 million tonnes per annum (“MTPA”) of LNG. Under the agreement with CIMC, Black & Veatch will supply its licensed PRICO technology, perform detailed engineering and process design, specify and procure topside equipment, and provide commissioning support for the FLNG topsides and liquefaction process, similar to Black & Veatch’s role in the construction of Golar’s existing assets, the FLNG Hill and FLNG I am.

The Golar MK II design is an evolution of FLNG’s MK I design Hill and FLNG I am and is also based on the conversion of an existing LNG carrier to an FLNG. The MK II design allows for modularization of the construction process as well as further improvements in efficiency and operability based on previous experience in building and operating our existing FLNG assets. The project will utilize Golar’s LNG carrier Fuji LNG with a storage capacity of 148,500 m3. The total EPC price is US$1.6 billion. The total budget for the MK II FLNG conversion is US$2.2 billion, including the conversion vessel, yard supervision, spare parts, crew, training, contingencies, initial bunkering and voyage related costs to bring the FLNG to the operational location, excluding financing costs. The MK II FLNG is expected to be delivered in Q4 2027. Of the total conversion price, Golar has already spent US$0.3 billion to date, including the conversion candidate, engineering and long lead time items which are now 63% complete.

The yard selection for the MK II FLNG conversion was completed two years ago. CIMC, Black & Veatch and Golar subsequently spent approximately 350,000 man hours optimizing the conversion process and de-risking the project execution. As part of the EPC agreement, Golar also secured an option for a second MK II FLNG conversion slot with CIMC for delivery within 2028.

Delivery in 2027 makes the MK II FLNG the earliest available floating liquefaction capacity globally. Based on potential charter terms consistent with the most recent long-term FLNG charter agreements, the MK II FLNG has an earning potential of approximately US$0.5 billion in adjusted annual EBITDA, before commodity exposure.

Golar CEO Karl Fredrik Staubo commented: “We are pleased to announce the order for a MK II FLNG, a significant milestone for Golar and our partners CIMC and Black & Veatch. The order for the MK II FLNG strengthens Golar’s ​​position as a market leader in FLNGs, increasing our controlled liquefaction capacity by approximately 70% to 8.6 MTPA. With a delivered price of approximately USD 600/ton liquefaction capacity and an attractive delivery in Q4 2027, we believe today’s FLNG order is well positioned to provide potential customers with an attractive time to market to enable gas monetization, while enhancing value for Golar. We look forward to working with CIMC and Black & Veatch on another successful FLNG delivery and hope to further expand the relationship with potential additional MK II FLNG units.”

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