NextDecade Announces Chief Financial Officer Transition

HOUSTON--(BUSINESS WIRE)--NextDecade Corporation (NextDecade or the Company) (NASDAQ: NEXT) announced today that Brent Wahl, Chief Financial Officer, has resigned from the Company effective October 20, 2025, and the Company has appointed Mike Mott, Senior Vice President Enterprise Transformation, as Interim Chief Financial Officer effective October 20, 2025.

Mr. Wahl is leaving NextDecade to join a digital infrastructure company, and he has agreed to serve in a consultant capacity through December 31, 2025, to facilitate a seamless transition. The Company will initiate a comprehensive search process to find a permanent successor.

“I want to thank Brent for the significant impact he has made at NextDecade,” said Matt Schatzman, Chairman and CEO. “As CFO of NextDecade, Brent and his team led one of the largest energy infrastructure financings in US history, and I’m sure this experience will serve him well in his next chapter.”

Mr. Mott brings broad experience to the role of Interim Chief Financial Officer. In addition to leading the Company’s enterprise transformation program, he previously was responsible for Carbon Solutions and corporate strategy at NextDecade. He also served as the Chief Financial Officer of LNG Limited, and held a number of senior strategy, finance and operations roles at BG Group.

The Company continues to expect to achieve a positive final investment decision on Train 5 and related infrastructure at Rio Grande LNG, subject to obtaining adequate financing, on or before November 15, 2025.

About NextDecade Corporation

NextDecade is committed to providing the world access to reliable, lower carbon energy. We are focused on delivering secure, low-cost, and sustainable energy solutions through the safe and efficient development and operation of natural gas liquefaction and carbon capture and storage infrastructure. Through our subsidiaries, we are developing and constructing the Rio Grande LNG natural gas liquefaction and export facility near Brownsville, Texas, with approximately 48 MTPA of potential liquefaction capacity currently under construction or in development. We are also developing a potential carbon capture and storage project at the facility that is expected to make meaningful impacts toward a lower carbon future. NextDecade’s common stock is listed on the Nasdaq Stock Market under the symbol “NEXT.” NextDecade is headquartered in Houston, Texas. For more information, please visit www.next-decade.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of U.S. federal securities laws. The words “anticipate,” “contemplate,” “estimate,” “expect,” “project,” “plan,” “intend,” “believe,” “may,” “might,” “will,” “would,” “could,” “should,” “can have,” “likely,” “continue,” “design,” “assume,” “budget,” “guidance,” “forecast,” and "target," and other words and terms of similar expressions are intended to identify forward-looking statements, and these statements may relate to the business of NextDecade and its subsidiaries. These statements have been based on assumptions and analysis made by NextDecade in light of current expectations, perceptions of historical trends, current conditions and projections about future events and trends and involve a number of known and unknown risks, which may cause actual results to differ materially from expectations expressed or implied in the forward-looking statements. Although NextDecade believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that the expectations will prove to be correct. NextDecade’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in NextDecade’s periodic reports that are filed with and available from the Securities and Exchange Commission. The taking of a final investment decision on Train 5 at the Rio Grande LNG Facility is subject to, among other things, maintaining requisite governmental approvals and obtaining adequate financing to construct each train and related infrastructure. Additionally, any development of additional expansion trains at the Rio Grande LNG Facility or CCS projects remains contingent upon receipt of requisite governmental approvals, execution of definitive commercial and financing agreements, securing all financing commitments and potential tax incentives, achieving other customary conditions and making a final investment decision to proceed. The forward-looking statements in this press release speak as of the date of this release. NextDecade may from time to time voluntarily update its prior forward-looking statements, however, it disclaims any commitment to do so except as required by securities laws.