Excelerate Energy, Inc.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 16. Form 10-K Summary
None.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Excelerate Energy, Inc. | ||
| Date: February 26, 2026 | By: | /s/ Dana Armstrong |
|---|---|---|
| Dana Armstrong | ||
| Executive Vice President and Chief Financial Officer (Principal Financial Officer) | ||
Pursuant to the requirements of the Securities Exchange Act of 1934, this report had been signed by the following persons on behalf of the registrant and in the capacities indicated on February 26, 2026.
| Signature | Title (Position with Excelerate Energy, Inc.) |
|---|---|
| /s/ Steven Kobos | President, Chief Executive Officer and Director |
| Steven Kobos | (Principal Executive Officer) |
| /s/ Dana Armstrong | Executive Vice President and Chief Financial Officer |
| Dana Armstrong | (Principal Financial Officer) |
| /s/ Michael Bent | Vice President, Controller and Chief Accounting Officer |
| Michael Bent | (Principal Accounting Officer) |
| /s/ Don P. Millican | Chairman of the Board and Director |
| Don P. Millican | |
| /s/ Deborah L. Byers | Director |
| Deborah L. Byers | |
| /s/ Nisha D. Biswal | Director |
| Nisha D. Biswal | |
| /s/ Paul T. Hanrahan | Director |
| Paul T. Hanrahan | |
| /s/ Tyler D. Todd | Director |
| Tyler D. Todd | |
| /s/ Robert A. Waldo | Director |
| Robert A. Waldo | |
INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
| Report of Independent Registered Public Accounting Firm (PCAOB ID: 238) | F-2 |
|---|---|
| Consolidated Balance Sheets as of December 31, 2025 and 2024 | F-5 |
| Consolidated Statements of Income for the Years Ended December 31, 2025, 2024 and 2023 | F-6 |
| Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2025, 2024 and 2023 | F-7 |
| Consolidated Statements of Changes in Equity for the Years Ended December 31, 2025, 2024 and 2023 | F-8 |
| Consolidated Statements of Cash Flows for the Years Ended December 31, 2025, 2024 and 2023 | F-9 |
| Notes to Consolidated Financial Statements | F-10 |
| Note 1 – General business information | F-10 |
| Note 2 – Summary of significant accounting policies | F-10 |
| Note 3 – Acquisition | F-18 |
| Note 4 – Fair value of financial instruments | F-19 |
| Note 5 – Accounts receivable, net | F-20 |
| Note 6 – Derivative financial instruments | F-20 |
| Note 7 – Other current assets | F-21 |
| Note 8 – Property and equipment, net | F-22 |
| Note 9 – Goodwill and intangible assets, net | F-22 |
| Note 10 – Accrued liabilities | F-23 |
| Note 11 – Long-term debt, net | F-23 |
| Note 12 – Long-term debt – related party | F-26 |
| Note 13 – TRA liability | F-26 |
| Note 14 – Equity | F-27 |
| Note 15 – Earnings per share | F-29 |
| Note 16 – Leases | F-30 |
| Note 17 – Revenue | F-31 |
| Note 18 – Long-term incentive compensation | F-34 |
| Note 19 – Income taxes | F-36 |
| Note 20 – Related party transactions | F-40 |
| Note 21 – Defined contribution plan | F-40 |
| Note 22 – Concentration risk | F-40 |
| Note 23 – Commitments and contingencies | F-41 |
| Note 24 – Asset retirement obligations | F-41 |
| Note 25 – Supplemental disclosures for consolidated statement of cash flows | F-42 |
| Note 26 – Accumulated other comprehensive income | F-42 |
| Note 27 – Subsequent events | F-42 |
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