Core Viewpoint - FTAI Infrastructure Inc. is set to announce its financial results for Q4 and full year 2024 on February 27, 2025, after Nasdaq closes [1] Financial Results Announcement - The financial results will be available in a press release and an earnings supplement posted on the company's Investor Relations website [1] - A conference call to discuss the results will take place on February 28, 2025, at 8:00 A.M. Eastern Time, accessible through a registration link [2] - A simultaneous webcast of the conference call will be available for public listening, with a replay accessible from February 28, 2025, after 11:30 A.M. until March 7, 2025 [3] Company Overview - FTAI Infrastructure primarily invests in critical infrastructure sectors such as rail, ports and terminals, and power and gas, focusing on areas with high barriers to entry [5] - The company aims to generate strong and stable cash flows, with potential for earnings growth and asset appreciation [5] - FTAI Infrastructure is externally managed by an affiliate of Fortress Investment Group LLC, a diversified global investment firm [5]

Financial Data and Key Metrics Changes - The company recorded adjusted EBITDA of $36.9 million in Q3 2024, an increase of 8% from Q2 2024 and up 50% year-over-year from Q3 2023 [7] - The total company annual EBITDA is projected to be approximately $220 million, with potential to exceed $300 million if new business opportunities are successfully converted into contracts [8][9] Business Line Data and Key Metrics Changes - **Transtar**: Achieved adjusted EBITDA of $21.1 million in Q3 2024, with stable carloads and rates. Revenue was $44.8 million, down from $45.6 million in Q2 2024 [10][19] - **Jefferson**: Generated $11.8 million in adjusted EBITDA, with revenue of $19.7 million, down from $21.2 million in Q2 2024. New contracts expected to contribute $20 million of annual EBITDA starting in 2025 [11][21] - **Repauno**: Executed its first long-term contract for Phase 2 transloading system, with potential annual EBITDA contribution of $60 million to $70 million once complete [12][23] - **Long Ridge**: Generated $11.1 million in EBITDA, reflecting a capacity factor of 99%. Anticipated increase in annual revenue and EBITDA by $32 million due to capacity auction results [13][25] Market Data and Key Metrics Changes - The company has a strong pipeline of new business opportunities, with a focus on maintaining organic EBITDA growth of 15% annually across its segments [10][20] - The construction of projects at Jefferson is on budget and on time, with expected revenue service commencing in 2025 [11] Company Strategy and Development Direction - The company is focused on pursuing accretive investments and acquisitions, particularly in the Transtar segment, to enhance growth and value creation [10][42] - Financing plans include issuing $300 million of low-cost tax-exempt debt for Repauno and refinancing existing debt at Long Ridge to reduce fixed charges and enhance cash flow [15][16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth potential in the upcoming quarters, driven by new contracts and favorable market conditions [26] - The company is actively pursuing multiple new business opportunities, indicating a robust growth outlook for 2025 and beyond [8][26] Other Important Information - The Board has authorized a quarterly dividend of $0.03 per share, to be paid on November 19, 2024 [6] - Total debt as of September 30, 2024, was $1.5 billion, with significant portions allocated to specific business units [14] Q&A Session Summary Question: Expansion on Long Ridge financing and potential contract pricing - Management indicated that refinancing would be highly accretive, with potential incremental EBITDA of approximately $50 million annually from new swaps at higher market prices [30][32] Question: Update on U.S. Steel transaction and implications for Transtar - Management noted that approval for the Nippon transaction is expected in December, with potential positive implications for Transtar if approved [36][38] Question: Status of M&A opportunities for Transtar - Management confirmed ongoing negotiations for three potential acquisitions, with significant value creation expected from successful transactions [40][42] Question: Details on new contracts at Jefferson - Management provided specifics on two contracts expected to generate $20 million of annual EBITDA, both fully funded and on track for completion [44][45] Question: Role of GE in Long Ridge operations - Management clarified that no mechanical changes are needed for the turbine at Long Ridge, only a software update to increase power generation capacity [47]

Financial Performance - Total revenues for the three months ended September 30, 2024, increased to $83.3 million, up from $80.7 million in the same period of 2023, representing a change of $2.6 million [144]. - Lease income for the three months ended September 30, 2024, was $1.3 million, compared to $737,000 in 2023, an increase of $576,000 [144]. - Rail revenues rose to $44.3 million for the three months ended September 30, 2024, from $41.5 million in 2023, a growth of $2.8 million [144]. - Terminal services revenues increased to $22.8 million in Q3 2024, up from $20.4 million in Q3 2023, reflecting a rise of $2.5 million [144]. - Roadside services revenues decreased to $14.9 million in Q3 2024, down from $18.1 million in Q3 2023, a decline of $3.2 million [144]. - Net loss attributable to stockholders for the three months ended September 30, 2024, was $49.9 million, compared to a net loss of $56.1 million in 2023, an improvement of $6.1 million [144]. - Adjusted EBITDA for the three months ended September 30, 2024, was $36.9 million, an increase of $12.3 million compared to $24.7 million in the same period of 2023 [146]. - Total revenues increased by $11.7 million for the nine months ended September 30, 2024, primarily due to higher revenues in the Railroad segment ($11.3 million) and Jefferson Terminal segment ($6.7 million) [150]. - Net loss attributable to stockholders improved to $(49.97) million for the three months ended September 30, 2024, compared to $(56.10) million in the same period of 2023, a change of $6.13 million [146]. - Net loss attributable to stockholders was $40.3 million for the three months ended September 30, 2024, compared to $41.2 million for the same period in 2023, reflecting a decrease of $0.9 million (2.2%) [197]. Operating Expenses - Operating expenses for the three months ended September 30, 2024, were $62.8 million, a decrease from $68.4 million in the same period of 2023, down by $5.7 million [144]. - Total expenses decreased by $4.4 million for the three months ended September 30, 2024, primarily due to a $5.7 million decrease in operating expenses [151]. - Operating expenses decreased by $7.8 million for the nine months ended September 30, 2024, reflecting a decrease of $14.2 million in roadside services at FYX [151]. - Total expenses decreased by $5.1 million (19.7%) during the three months ended September 30, 2024, reflecting a decrease in operating expenses of $4.8 million (25.3%) and depreciation and amortization expense of $0.7 million (88.5%) [200]. - Operating expenses for the three months ended September 30, 2024, were $17.138 million, a decrease of $0.410 million (2.3%) compared to the previous year [170]. Cash Flow and Investments - Cash used for investments was $62.2 million during the nine months ended September 30, 2024, compared to $89.2 million in the same period of 2023 [204]. - Cash flows used in operating activities were $7.2 million for the nine months ended September 30, 2024, compared to $2.2 million in 2023 [204]. - Net cash used in operating activities increased by $5.0 million to $(7,223) thousand in the nine months ended September 30, 2024, compared to $(2,214) thousand in 2023 [206]. - Net cash used in investing activities decreased by $49.4 million to $(89,638) thousand, primarily due to a $25.4 million decrease in property, plant, and equipment acquisition [206]. - Net cash provided by financing activities increased by $84.5 million to $154,015 thousand, driven by a $287.6 million increase in proceeds from debt [206]. Debt and Interest Expense - Interest expense increased by $5.5 million for the three months ended September 30, 2024, primarily due to an increase in average outstanding debt of approximately $216.2 million [153]. - Interest expense for the three months ended September 30, 2024, was $13.107 million, an increase of $4.827 million (58.3%) compared to the previous year [167]. - A hypothetical 100-basis point increase in variable interest rates would result in an increase of approximately $0.4 million in interest expense over the next 12 months [215]. - The company has dividend payments of $58.2 million due on redeemable preferred stock within the next twelve months [208]. Asset Management - Total consolidated assets as of September 30, 2024, were $2.4 billion, with redeemable preferred stock and equity amounting to $0.6 billion [138]. - The Jefferson Terminal reporting unit had a carrying amount of goodwill of $122.7 million as of December 31, 2023, with an estimated fair value exceeding its carrying value by more than 10% but less than 20% [209]. - The company continues to focus on acquiring diverse long-lived assets in critical infrastructure sectors, aiming for high margins and stable cash flows [138]. Other Income and Expenses - Total other expense increased by $39.4 million during the nine months ended September 30, 2024, primarily due to an increase in equity in losses of unconsolidated entities [153]. - Total other income increased by $2.5 million for the three months and $5.3 million for the nine months ended September 30, 2024, reflecting a decrease in interest expense and loss on extinguishment of debt [162]. - Total other expense increased by $0.5 million (6.1%) during the three months ended September 30, 2024, primarily due to a $4.8 million increase in interest expense related to additional borrowings [172]. - Total other expense increased by $10.1 million (29.0%) during the nine months ended September 30, 2024, primarily due to an $8.4 million loss on modification or extinguishment of debt [172]. Adjusted EBITDA - Adjusted EBITDA is utilized as a key performance measure, providing insights into operational performance and resource allocation decisions [142]. - Adjusted EBITDA increased by $12.3 million for the three months and $24.2 million for the nine months ended September 30, 2024 [154]. - Adjusted EBITDA for the three months ended September 30, 2024, was $21.080 million, an increase of $3.646 million compared to the prior year [158]. - Adjusted EBITDA for the three months ended September 30, 2024, increased by $3,135 thousand to $11,105 thousand, compared to $7,970 thousand in the same period of 2023 [184]. - Adjusted EBITDA for the nine months ended September 30, 2024, was $(5,316) thousand, a decrease of $(1,153) thousand compared to $(4,163) thousand in the same period of 2023 [192].

FTAI INFRASTRUCTURE Supplemental Information Third Quarter 2024 1 IN GENERAL. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the "Presentation." The information contained on, or accessible through, any websites included in this Presentation is not incorporated by reference into, and should not be considered a part of, this Presentation. FORWARD-LOOKING ST ...

Exhibit 99.1 PRESS RELEASE FTAI Infrastructure Inc. Reports Third Quarter 2024 Results, Declares Dividend of $0.03 per Share of Common Stock NEW YORK, October 30, 2024 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the "Company" or "FTAI Infrastructure") today reported financial results for the third quarter 2024. The Company's consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview (in thousands, except per ...

Financial Overview - FTAI Infrastructure reported a net loss attributable to stockholders of $49.971 million for Q3 2024, compared to a loss of $56.101 million in Q3 2023, reflecting an improvement of $6.130 million [1][21] - The basic and diluted loss per share for Q3 2024 was $0.45, down from $0.55 in Q3 2023 [1][21] - Adjusted EBITDA for Q3 2024 was $36.928 million, an increase from $24.655 million in Q3 2023, representing a growth of $12.273 million [1][21] Dividend Declaration - The Board of Directors declared a cash dividend of $0.03 per share for the quarter ended September 30, 2024, payable on November 19, 2024 [2] Business Highlights - The company signed a long-term contract and additional Letter of Intent (LOI) at Repauno and commenced construction for phase 2 of the transloading system [3] - Construction projects at Jefferson are progressing on schedule and on budget for contracts commencing in 2025 [3] - The Long Ridge power plant operated at a 99% capacity factor, with new capacity pricing for the 2025-26 season expected to generate an additional $16 million in annual Adjusted EBITDA [3] Key Performance Measures - Adjusted EBITDA is utilized as a key performance measure by the Chief Operating Decision Maker (CODM) to assess operational performance and make resource allocation decisions [19][20] - The reconciliation of net loss attributable to stockholders to Adjusted EBITDA for Q3 2024 includes various adjustments such as equity-based compensation, acquisition expenses, and interest expenses [21][22] Financial Statements - Total revenues for Q3 2024 were $83.311 million, compared to $80.706 million in Q3 2023, indicating a year-over-year increase [11] - Total expenses for Q3 2024 were $90.580 million, down from $94.938 million in Q3 2023 [12] - The company reported total assets of $2.437 billion as of September 30, 2024, compared to $2.380 billion at the end of 2023 [13][14]

Financial Performance - Total revenues for the three months ended June 30, 2024, were $84.887 million, an increase of $3.055 million compared to $81.832 million for the same period in 2023[138]. - Rail revenues increased by $3.110 million to $45.256 million for the three months ended June 30, 2024, compared to $42.146 million in 2023[138]. - Terminal services revenues rose by $3.366 million to $24.234 million for the three months ended June 30, 2024, compared to $20.868 million in 2023[138]. - Total revenues increased by $3.1 million for the three months ended June 30, 2024, driven by higher revenues in the Railroad segment ($3.1 million) and Jefferson Terminal segment ($4.1 million), despite a decrease in Corporate and Other segment revenues by $4.0 million[142]. - Total revenues increased by $4.1 million and $3.6 million for the three and six months ended June 30, 2024, respectively, driven by higher average crude oil throughput volumes[160]. - Net income attributable to stockholders for the three months ended June 30, 2024, was $15.788 million, an increase of $4.002 million (33.9%) compared to $11.786 million in 2023[150]. - Net income for the six months ended June 30, 2024, was $30.224 million, an increase of $10.340 million (52.0%) compared to $19.884 million in 2023[150]. Expenses and Losses - Operating expenses decreased by $1.550 million to $61.225 million for the three months ended June 30, 2024, compared to $62.775 million in 2023[138]. - Total expenses decreased by $3.2 million for the three months ended June 30, 2024, primarily due to reductions in operating expenses, general and administrative expenses, and asset impairment[143]. - Total expenses increased by $0.5 million (1.8%) during the three months ended June 30, 2024, reflecting a total of $28.714 million[153]. - Total expenses increased by $2.1 million during the three months ended June 30, 2024, and by $5.3 million during the six months ended June 30, 2024[162]. - Net loss attributable to stockholders for the three months ended June 30, 2024, was $54.350 million, compared to a net loss of $38.853 million in 2023, reflecting an increase of $15.497 million[138]. - Net loss attributable to stockholders for the three months ended June 30, 2024, was $(54,350) thousand, an increase of $(15,497) thousand compared to $(38,853) thousand for the same period in 2023[139]. - Net loss increased by $14.3 million during the three months ended June 30, 2024, compared to the same period in 2023[146]. - Net loss attributable to stockholders was $14.152 million for the three months ended June 30, 2024, compared to a loss of $8.765 million in the same period of 2023[159]. - Net loss for the six months ended June 30, 2024, was $46.911 million, compared to a loss of $37.160 million in the same period of 2023[157]. Adjusted EBITDA - Adjusted EBITDA is utilized as the key performance measure, providing insights into operational performance and resource allocation decisions[137]. - Adjusted EBITDA (non-GAAP) increased by $6.6 million to $34,256 thousand for the three months ended June 30, 2024, compared to $27,677 thousand for the same period in 2023[147]. - Adjusted EBITDA increased by $1.8 million (8.9%) and $6.3 million (14.1%) for the three and six months ended June 30, 2024, respectively[156]. - Adjusted EBITDA for the three months ended June 30, 2024, was $(1,502), an increase of $134 compared to $(1,636) for the same period in 2023[171]. - Adjusted EBITDA for the six months ended June 30, 2024, improved by $3.3 million to $(3,185) compared to $(6,497) for the same period in 2023[171]. - Adjusted EBITDA for the three months ended June 30, 2024, decreased by $1,557 thousand to $8,846 thousand, down from $10,403 thousand in the same period of 2023[179]. - Adjusted EBITDA for the six months ended June 30, 2024, decreased by $2,479 thousand to $19,238 thousand, down from $21,717 thousand in the same period of 2023[179]. Interest Expense - Interest expense increased by $5.5 million for the three months ended June 30, 2024, primarily due to an increase in average outstanding debt of approximately $168.7 million[144]. - Interest expense decreased significantly by $1.117 million (91.9%) during the three months ended June 30, 2024, compared to the previous year[150]. - Interest expense for the Power and Gas Segment was $0 for the three months ended June 30, 2024, compared to $(1) for the same period in 2023[172]. - Interest expense for the three months ended June 30, 2024, was $9,465 thousand, compared to $7,378 thousand in the same period of 2023[175]. - Interest expense increased to $11.190 million for the three months ended June 30, 2024, from $7.978 million in the prior year[159]. - Total other expense increased by $3.8 million during the three months ended June 30, 2024, primarily due to increased interest expense[192]. Cash Flow and Investments - Cash used for investments was $52.8 million during the six months ended June 30, 2024, compared to $95.5 million in the same period of 2023[195]. - Net cash used in operating activities increased by $4.5 million, reflecting an increase in net loss and changes in working capital[196]. - Cash flows from financing activities were $173.1 million for the six months ended June 30, 2024, compared to $59.1 million in 2023[196]. - Net cash provided by financing activities increased by $114.0 million, driven by an increase in proceeds from debt of $383.1 million, partially offset by debt repayments of $242.0 million[197]. Company Strategy and Future Outlook - The company continues to focus on acquiring long-lived assets in infrastructure sectors with high barriers to entry and stable cash flows[133]. - The company expects to pursue additional investment opportunities in attractive infrastructure businesses and assets[133]. - The company is evaluating several potential transactions and related financings to increase debt capacity at certain subsidiaries within the next 12 months[195]. - The company expects to meet future short-term liquidity requirements through cash on hand, unused borrowing capacity, or future financings[199]. - The company plans to manage exposure to interest rate movements through the use of interest rate derivatives[203]. Goodwill and Impairment - The carrying amount of goodwill as of December 31, 2023, was $122.7 million for Jefferson Terminal, $147.2 million for Railroad, and $5.4 million for Corporate and Other segments[200]. - The Jefferson Terminal reporting unit had an estimated fair value exceeding its carrying value by more than 10% but less than 20% as of October 1, 2023[201]. - The discount rate for the 2023 goodwill impairment analysis was 10.3%, with an assumed terminal growth rate of 2.5%[201].

Financial Data and Key Metrics - Adjusted EBITDA before corporate expenses for Q2 2024 was $41.8 million, up 15% YoY and 12% sequentially [4] - The company forecasts generating over $200 million of run-rate annual EBITDA by the end of 2024 and expects to exceed this in 2025 [6] - Total debt as of June 30 was $1.6 billion, with $564 million at the corporate level and the rest at business units [9] Business Segment Performance Transtar - Adjusted EBITDA for Transtar was $22.1 million in Q2, with steady carload volumes and record average rates of $667 per carload [6][10] - The company added new third-party customers and expects to add more in H2 2024, diversifying its revenue base [11] - Transtar is debt-free and has potential for acquisitions of short-line and regional rail assets [9][12] Jefferson - Jefferson generated $12.3 million in adjusted EBITDA in Q2, handling record volumes of 215,000 barrels per day [7] - Two long-term contracts commencing in 2025 are expected to contribute $20 million in annual EBITDA [14] - The company is negotiating additional contracts that could generate $60 million in annual revenue [14] Repauno - Phase 2 construction is set to begin in Q3 2024, with expected capacity for 75,000 barrels per day of natural gas liquids [15] - Phase 2 is projected to contribute $75 million in annual EBITDA upon completion, up from initial expectations of $40 million [15] Long Ridge - Long Ridge generated $8.8 million in EBITDA in Q2, impacted by scheduled maintenance in May [16] - Capacity auction results for 2025-2026 indicate a 10x increase in pricing, potentially adding $32 million in incremental EBITDA [16][17] - The company is engaging with multiple parties for on-site data center projects, leveraging its power generation capabilities [18] Market and Strategic Direction - The company is focused on owning core infrastructure in major markets with long-term contracted cash flows and growth opportunities [5] - Strategic initiatives include expanding third-party customer bases, developing new facilities, and pursuing accretive acquisitions [6][12][34] - The company is well-positioned to benefit from macro trends such as AI-driven power demand and energy transitions [5][17] Management Commentary on Operating Environment and Outlook - Management expects continued momentum in H2 2024, driven by new business wins and strategic initiatives [4] - The company is optimistic about the growth potential across all segments, particularly Transtar and Long Ridge [34] - The favorable commercial landscape and strong demand for power and infrastructure support the company's growth trajectory [17][18] Other Key Information - The company declared a $0.03 per share quarterly dividend, payable on August 20 [4] - Transtar's new railcar repair facility handled 816 railcars in Q2, with plans to introduce a second shift to increase capacity [11] - Jefferson completed a new financing in Q2, refinancing near-term maturities and funding construction projects [7][9] Q&A Session Summary Question: Transtar's third-party revenue growth - When acquired, Transtar's revenue was 95% from U.S. Steel, now below 85%, with a goal to reduce it to the mid-60s [20] Question: Transtar acquisition strategy - The company is focusing on short-line railroads with regional overlap and industrial switching lines, aiming to diversify revenue [22] Question: Repauno cavern approvals - Cavern permits are expected in H2 2024, with construction starting in 2025, adding significant value to Repauno [24] Question: Long Ridge capacity auction impact - The capacity auction results have increased negotiating leverage with behind-the-meter customers, including data centers [26] Question: Jefferson's new contracts - Two contracts commencing in 2025 will contribute $20 million in annual EBITDA, with no ramp-up period [28][29] Question: Balance sheet refinancing - The company is planning a refinancing in H2 2024 to reduce borrowing costs and increase flexibility, potentially leveraging Transtar [30][31] Question: Management's priorities - Top priorities include accretive acquisitions at Transtar and development opportunities at Long Ridge [34] Question: Long Ridge swaps and merchant power - Swaps have 3-5 years remaining, and the plant is technically a merchant plant, free to provide power to any customer [36] Question: Long Ridge data center backup power - Backup power costs are likely borne by the company, with flexibility in power management being a key advantage [38][39]

Exhibit 99.1 PRESS RELEASE FTAI Infrastructure Inc. Reports Second Quarter 2024 Results, Declares Dividend of $0.03 per Share of Common Stock NEW YORK, August 2, 2024 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the "Company" or "FTAI Infrastructure") today reported financial results for the second quarter 2024. The Company's consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview (in thousands, except per ...

NEW YORK, Aug. 02, 2024 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the "Company" or "FTAI Infrastructure") today reported financial results for the second quarter 2024. The Company's consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release. Financial Overview | --- | --- | |--------------------------------------------------|-----------------| | | | | (in thousands, except per share data) | | | Selected Financial Results | Q2' ...