UTE Porto de Sergipe IProject Overview

The Norwegian Brazilian Chamber of CommerceRio de Janeiro, May 23 2017

Edson RealBusiness Development DirectorGolar Power Latam

Agenda

1.Shareholding Structure

2.Project Overview

3.Timeline & Key Milestones

Shareholding Structure

3

Founded in 2008, one of the largest independent power

producers in Brazil. Currently own stakes in 4 TPPs

amounting to 700MW installed Capacity

Strong power generation operational expertise and

successful project implementation track record

Golar Power is a 50/50 Joint venture between Golar LNG and

the private equity firm Stonepeak Infrastructure Partners

Currently owns a fleet of 26 vessels, including 16 LNGC, 7

FSRUs, 3 FLNGV (1 under construction, 2 candidates for

conversion)

50% 50%

50% 50%

Project Contractual Structure

4

FSRU

LNG Supplier

Pipeline & Mooring

CCGT

Power Plant

O&M

TransmissionLine

UTE Porto de Sergipe I

PPA Offtakers

21st New Energy Auction (A-5/2015)

Auction Date: April/2015

Contracted Capacity: 1.516,64 MW

COD: 01/01/2020

Physical Guarantee: 867,00 MWm

Offtakers: 26 power distribution companies

Fixed Capacity Payment: R$1,25bi/year (base

date:2015)

PPA Tenor: 25 years from 01/01/2020 a

31/12/2044

Dispatch Notice: 60 days

5

Project Location

6

Aracaju Metropolitan Area

Project Overview

7

CCGT Porto de Sergipe I

Installed Capacity: 1,516MW Config: 3x1 Combined Cycle Major Equipment:

3 GE 7HA.02 Gas Turbines 1 GE condensing Steam Turbine 32 km Transmission Line (500KV)

Connection Point: SS Jardim (CHESF)

FSRU & Mooring Solution Storage capacity: 170,000m3 of LNG Side-by-side LNG Transfer Submerged Soft Yoke Mooring Dedicated 8km pipeline (6km offshore)

Total Investment

R$5,0billion

UTE Porto de Sergipe I

8

Project Overview (Aerial View May/2017)

9

Total: 1120 piles completed

UNIT 10Piling started

UNIT 11Piling completedUNIT 12

Piling completed

UNIT 13Cage for Pile

Preparation for Pile cutting

Project Overview (Aerial View May/2017)

10

FSRU - Golar Nanook

• Newbuild vessel with storage capacity of 170,000m3 of LNG, being capable to supply the TPP Porto de Sergipe I for 17 days at full load (24hs/day)

• Send-out properties: up to 21M m3/day• Dimensions: 293m length, 43m breadth• Draught: 12m• Yard: Samsung Heavy Industries (SHI) • Delivery Date: Dec/2017

11

FSRU - Golar Nanook

12

Expected delivery on Dec/2017

Vessel launched on February 13, 2017

13

Mooring System – NOV SSY

Expected delivery onJuly 2018

Concluded FSRU Operability, Approach and departure operations, HAZID and Max environmental conditions simulations.

Transmission Lines

500 kV Transmission Line

• Extension: 33 km

• Connection Point: Jardim Substation (owned by CHESF) located in Nossa Senhora do Socorro

14

Operations and Maintenance

Long term contracts (25yrs) were executed in

Dec/2016 with GE General Electric

International Inc.

Operations and Maintenance (O&M)

Agreement

The O&M Contractor will provide O&M

staff after the beginning of Commercial

Operation

Contractual Service Agreement (CSA)

The CSA provides long term maintenance

services and parts for the three GE 7HA.02

combustion turbine-generators and one GE

steam turbine-generator (Covered Units)15

LNG Supply Agreement

16

SPA executed in November, 2016

Long Term Contract with the required level of flexibility under the contracted PPA

QP and Exxon account for a relevant part of the LNG export Market worldwide and have at their disposal a number of facilities that can provide LNG to the Porto de Sergipe Project

70% 30%

Timeline

17

Atividades 4T/16 1T/17 2T/17 3T/17 4T/17 1T/18 2T/18 3T/18 4T/18 1T/19 2T/19 3T/19 4T/19 1T/20

Earthmoving

Pilling & Foundations

Civil Works

Mechanical & Assembly

Commissioning

Mooring Solution

FSRU

Fuel Gas TP0112/02

TAC30/09

Geração Comercial

01/01

DeliveySamsung

22/12

FIM