- Bolsters Brazil’s energy security as the country advances its decarbonization efforts —
   - Maintains Excelerate’s continued presence in the Brazilian energy market —

Excelerate Energy, Inc. (Excelerate) announced today that the Company and Petróleo Brasileiro S.A. (Petrobras) signed a ten-year contract to charter the floating storage and regasification unit (“FSRU”) Sequoia. Under the Time Charter Party and Operation and Services Agreement (collectively, the “Agreement”), which will commence on January 1, 2024, Excelerate will continue to deploy the Sequoia to provide regasification services in Brazil, primarily at the Bahia Regasification Terminal (TR-BA) in Salvador, Bahia.

“Brazil is an excellent market. This Agreement is an important step in furthering Excelerate’s long-term sustainable growth plan in South America,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “Deploying the Sequoia for 10 more years will position Excelerate well to support Brazil’s efforts to strengthen its energy security. We have been a reliable partner to Petrobras for more than a decade, and we are committed to maintaining that partnership and supporting the energy transition for all Brazilians.”

Since 2012, Excelerate has provided regasification services in Brazil at Petrobras’s LNG import terminals. In addition to the Sequoia, Excelerate’s FSRU Experience is currently providing regasification services in Brazil. Maintaining a continued presence in the Brazilian market is a fundamental part of Excelerate’s strategic position as a reliable backstop to the country’s energy system for which intermittent renewable energy contributes approximately 85 percent.

This Agreement highlights Excelerate Energy’s commitment to using its flexible FSRU fleet to enhance energy security and reliability for its customers around the world. The deal also expands the Company’s core regasification business, which allows for increased visibility to predictable near-term and long-term earnings and cash flows.

About Excelerate Energy

Excelerate Energy, Inc. (NYSE: EE) 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 value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Manila, Rio de Janeiro, Singapore, and Washington, DC.

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.