Excelerate Energy, Inc. (EE) SEC Filings & Earnings Calls

Concentration Risk from Major Shareholder

“Kaiser owned directly or indirectly approximately 72.3% of the ownership interests in EELP as of June 30, 2026.” · word for word

Geopolitical Risk from International Operations

“Risks associated with conducting business outside of the United States, including political, legal and economic risk.” · word for word

Middle East conflict could delay Iraq LNG terminal project.

“Despite the ongoing conflict in the Middle East, the Company continues to advance the project while adapting its execution plans as conditions evolve.” · word for word

LNG price volatility and seasonal impacts on earnings.

“Adjusted EBITDA decreased slightly from the prior quarter primarily due to LNG, gas and power seasonal impacts.” · word for word

Customer concentration risk

“Customer A 24% of total revenues; Customer B 16%; Customer C 13%”

Geopolitical risk from international operations

“Substantially all of the net book value of the Company’s long-lived assets are located outside the United States.” · word for word

Iraq LNG import terminal delayed to 2027 due to Middle East conflict, impacting near-term growth expectations.

“Jetty reinforcement and construction of the fixed terminal infrastructure have been delayed temporarily due to the conflict in the Middle East and the terminal is no longer expected to commence operations in the third quarter of 2026 as previously disclosed. Project startup is now expected in 2027.” · word for word

Force majeure notice from QatarEnergy on LNG supply agreement introduces supply chain uncertainty.

“In March 2026, in connection with the conflict in the Middle East, Excelerate received a force majeure notice from QatarEnergy related to its long-term LNG supply agreement.” · word for word

Controlled Company Governance Risk

“As a result of the voting power currently controlled by Kaiser, we qualify as a “controlled company” within the meaning of the corporate governance rules of the New York Stock Exchange (“NYSE”). Under these rules, a listed company of which more than 50% of the voting power with respect to director elections is held by another person or group of persons actin” · word for word

Tax Receivable Agreement Liability

“we expect that future payments to EE Holdings in respect of the Reorganization and the offering will equal $58.8 million in the aggregate” · word for word

Key Person Dependency on Controlling Shareholder

“George B. Kaiser (“Kaiser”), through his ownership of Excelerate Energy Holdings, LLC (“EE Holdings”), controls approximately 71.9% of the voting power of our outstanding Common Stock.” · word for word

Moelis Decision Uncertainty

“Because the Delaware Supreme Court’s decision did not address the substantive findings of the Court of Chancery in Moelis , it is unclear whether the Court of Chancery’s decision invalidating stockholder rights similar to those held by EE Holdings under the Stockholder’s Agreement remains good law.” · word for word

Concentrated control by majority stockholder

“Kaiser, through his ownership of EE Holdings, indirectly owns 100% of our Class B Common Stock (representing 71.9% of the total combined voting power of our Class A Common Stock and Class B Common Stock).” · word for word

Debt service and refinancing risk

“As of December 31, 2025, we had outstanding principal on long-term debt to third parties of $936.3 million and principal on long-term debt to related parties of $162.0 million.” · word for word

Variable rate exposure via SOFR

“Our variable rate indebtedness uses the Secured Overnight Financing Rate (SOFR). SOFR may fluctuate based on general economic conditions, general interest rates, Federal Reserve rates and the supply of and demand for credit in the market.” · word for word

Foreign currency and devaluation risk

“the Argentine peso has devalued significantly against the U.S. dollar, from about six Argentine pesos per dollar in December 2013 to approximately 1,500 Argentine pesos per dollar in October 2025.” · word for word

Tax Receivable Agreement (TRA) payment obligation

“The TRA provides for payment by us to EE Holdings of 85% of the amount of the net cash tax savings...the payments that we will be required to make to the holders of rights under the TRA could be substantial.” · word for word

Hurricane Melissa impacted Jamaica operations in Q4

“Modestly lower LNG, gas, and power direct margin in Jamaica following Hurricane Melissa in the fourth quarter” · word for word

Integration risk from large acquisition

“our ability to realize the anticipated benefits of the Acquisition, including the expected accretion to earnings per share and the expected increase to our operating cash flow, and our ability to manage integration risks of the Acquisition” · word for word

LNG price volatility

“changes in the supply of and demand for and price of LNG and natural gas and LNG regasification capacity” · word for word

Concentrated ownership

“Kaiser (as defined herein) having the ability to direct the voting of a majority of the voting power of our common stock, and his interests possibly conflicting with those of our other stockholders” · word for word

Project execution risk: Iraq LNG terminal requires $450M investment and regulatory approvals; construction timelines uncertain.

“Total project investment expected to be approximately $450 million; commercial operations expected to commence in 2026, subject to final permitting and construction timelines.”

Hurricane impact: Hurricane Melissa expected to have limited financial impact in Q4 due to insurance and timely restoration.

“Estimated fourth quarter financial impacts to Jamaica from Hurricane Melissa; financial impacts expected to be limited.” · word for word

Geopolitical risk: Iraq project exposes company to Middle East geopolitical and regulatory risks.

“Definitive commercial agreement with subsidiary of Iraq's Ministry of Electricity.”