FTAI Infrastructure (FIP) 15th Annual Midwest IDEAS Investor Conference summary

Strategic transformation and asset performance

• Completed a spin-off two years ago, separating infrastructure from aviation, resulting in significant share price appreciation and improved market recognition.

• Infrastructure entity now trades at a much higher valuation, with steady EBITDA growth expected to reach $50 million by Q4 this year.

• Four main assets—Transtar, Jefferson Terminal, Repauno, and Long Ridge—are central to the growth strategy, each with unique value drivers and optionality.

Asset-specific developments and growth plans

• Transtar, a short line railroad, has diversified its revenue base, reducing reliance on U.S. Steel and increasing third-party business to 15%.

• Jefferson Terminal has secured long-term contracts with Exxon and Saudi Aramco, benefiting from low-cost, non-recourse municipal financing and proximity to major refineries.

• Repauno is positioned for significant upside with planned underground cavern storage, leveraging new regulatory approvals and cost advantages over above-ground storage.

• Long Ridge power plant is attracting strong demand from data center operators, with potential to expand capacity and integrate backup solutions for reliability.

Market trends, optionality, and forward-looking statements

• Freight rail assets are in high demand, with potential for partial asset sales at substantial premiums.

• Repauno's cavern project could generate $50–$60 million in EBITDA per million barrels of storage, with total capacity up to 6 million barrels.

• Long Ridge is currently using 15% hydrogen in its feedstock, with the ability to increase to 50% as economics and regulations evolve.

• Broader industry trends highlight surging power demand from AI, driverless cars, and robotics, with nuclear and microreactors being considered for future energy needs.

• The investment is best suited for long-term holders (18–36 months), with potential for significant value creation as assets mature or are monetized.