Stabilis Solutions, Inc.

MANAGEMENT COMMENTARY

“Stabilis demonstrated strong operational execution during the third quarter, capitalizing on demand for our integrated last-mile LNG solutions,” stated Casey Crenshaw, Executive Chairman and Interim President & Chief Executive Officer. “Higher throughput volumes across our marine, aerospace, and power generation markets translated to improved profitability in the third quarter, consistent with our expectations.”

“In October, we announced our largest planned LNG liquefaction capacity expansion to-date with the proposed construction of a new facility in Galveston, Texas,” continued Crenshaw. “In conjunction with this planned expansion, we announced that Stabilis had secured a 10-year marine bunkering agreement with a global marine operator to supply LNG for their bunkering operations at the Port of Galveston. We have commenced detailed engineering and design work on both the Galveston LNG facility and related logistics assets, which include a Jones Act-compliant LNG bunkering vessel.”

“The planned financing of the Galveston LNG project continues to progress on-schedule,” noted Crenshaw. “At this time, we are evaluating various financing structures with our advisors, including project-level joint venture partners. As before, we remain committed to the collective interests of all shareholders as we progress toward this next chapter of value creation. We expect to finalize project financing in early 2026, with construction of the Galveston LNG facility to commence shortly thereafter.”

“As we advance our strategic expansion in Galveston, we remain committed to maintaining our disciplined approach toward capital allocation," stated Andy Puhala, Chief Financial Officer. “Capital expenditures increased during the third quarter as we ramped investment to support engineering and design work for the Galveston LNG project ahead of a final investment decision. Our liquidity position remains robust, supported by consistent operating cash flow generation, including strong cash conversion in the third quarter. We are well positioned to fund our near-term growth initiatives while maintaining the financial flexibility to execute on our long-term strategy.”