Excelerate Energy, Inc. Q1 FY2026 earnings call

• Acknowledged thoughts and prayers for employees, seafarers, and partners in the Arabian Gulf. - Highlighted Accelerate's position as a global LNG and power infrastructure company with operations spanning four continents for revenue and earnings diversification. - In the Middle East, optimized asset portfolio to protect earnings and maintain operational continuity; terminal services in UAE performed as expected. - Iraq terminal project fundamentals unchanged but startup delayed to 2027 due to Middle East conflict. - Deployed Accelerate Acadia to Jordan's LNG import terminal, generating roughly 20 million of adjusted EBITDA this year. - Jamaica platform delivered strong operations with reliability above 99% and commercial progress on gas volumes. - Board approved quarterly dividend and share repurchase program, with share repurchases in the first quarter.

Accelerate delivered 122 million of adjusted EBITDA in the first quarter with a 99.8% reliability rate across its asset portfolio. In the Middle East, terminal services operations performed as expected with limited financial impact; the Iraq terminal project was delayed to 2027 due to Middle East conflict. The Jamaica platform delivered reliability above 99% in the first quarter with gas volumes growing through new customer agreements and incremental sales to existing customers.

• Revised full year 2026 adjusted EBITDA to range between 480 million and 510 million and committed growth capital to range between 270 million and 300 million due to Iraq terminal startup delay. - Maintenance capex guidance unchanged at 100 million to 110 million. - Growth path through 2028 remains intact with initiatives like Express redeployment and FSRU conversion expected to support earnings growth.

• Middle East conflict causing logistical constraints delaying Iraq terminal startup and affecting supply agreements like the force majeure notice from Qatar Energy to Petro Bangla.

Q: Eli Josson asked about supply portfolio diversification and capital allocation.

A: Steven said they have good geographic diversity already and will continue, focusing on being a boring infra provider; growth priorities in Jamaica and Caribbean with opportunistic opportunities.

Q: Chris Robertson followed up on FSRU conversion and investment positioning.

A: Steve said strategic priorities haven't changed, looking on every continent including Caribbean, South Asia, East Asia.

Q: Craig Sherry asked about Jamaica growth opportunity.

A: Oliver said there are early opportunities using current platform with de minimis capex showing up in performance later in 2026.

Q: Bobby Brooks asked about FSRU Acadia deployment and Jamaica growth.

A: Steven said regional teams have long relationships, and Oliver talked about Jamaica market growth and broader Caribbean opportunities.

Q: Wade Suki asked about Express in Jordan and longer term.

A: Steven said Jordan has had LNG for 10 years and likely wants more, respecting their work.

Q: Zach Van Everen asked about Iraq project startup and macro demand.

A: Steven said they'll serve Iraq as soon as possible but can't guide specific timelines, and emphasized long term need for regas capacity.