Business Wire | Aug 27, 2020 06:00AM EDT

New Fortress Energy Declares Inaugural Common Stock Dividend

Aug. 27, 2020

NEW YORK--(BUSINESS WIRE)--Aug. 27, 2020--New Fortress Energy Inc. (NASDAQ:NFE) ("New Fortress" or the "Company") announced today that its Board of Directors (the "Board") has declared a third quarter 2020 common stock dividend of $0.10 per Class A Common Share.

"We are pleased to announce our first common stock dividend," said Wes Edens, Chairman and CEO of New Fortress. "As we stated on our earnings call, one of our strategic goals is to begin paying dividends to our shareholders as our long-term capital structure becomes highly cash flow generative. This dividend is a significant step forward toward our goal to become a world-class investment grade operating company."

Common Stock Dividend

The Board declared a quarterly dividend of $0.10 per Class A Common Share for the third quarter of 2020. The dividend is payable on September 14, 2020, to Class A Common Shareholders of record on September 7, 2020.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About New Fortress Energy Inc.

New Fortress Energy (NASDAQ: NFE) is a global energy infrastructure company founded to help accelerate the world's transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities.

Cautionary Language Regarding Forward-Looking Statements

This press release contains forward-looking statements, including but not limited to statements regarding the payment of a dividend in respect of the Company's Class A Common Shares. All statements contained in this press release other than historical information are forward-looking statements that involve known and unknown risks and relate to future events, our future financial performance or our projected business results. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "projects," "targets," "potential" or "continue" or the negative of these terms or other comparable terminology. Such forward-looking statements are necessarily estimates based upon current information and involve a number of risks and uncertainties. Actual events or results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors.

All forward-looking statements speak only as of the date on which it is made. When considering forward-looking statements, you should keep in mind the risk factors and other cautionary statements included in our annual, quarterly and other reports we file with the SEC. We undertake no duty to update these forward-looking statements, even though our situation may change in the future. Furthermore, we cannot guarantee future results, events, levels of activity, performance, projections or achievements.

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CONTACT: IR: Alan Andreini (212) 798-6128 aandreini@fortress.com

CONTACT: Joshua Kane (516) 268-7455 jkane@newfortressenergy.com

CONTACT: Media: Jake Suski (516) 268-7403 press@newfortressenergy.com