NEW YORK, August 7, 2025 (GLOBE NEWSWIRE) -- FTAI Infrastructure Inc. (NASDAQ:FIP) (the “Company” or “FTAI Infrastructure”) today reported financial results for the second quarter 2025. The Company’s consolidated comparative financial statements and key performance measures are attached as an exhibit to this press release.

_______________________________

(1)For definitions and reconciliations of non-GAAP measures, please refer to the exhibit to this press release.

(2)Excludes Sustainability and Energy Transition and Corporate and Other segments.

On August 7, 2025, the Company’s Board of Directors (the “Board”) declared a cash dividend on its common stock of $0.03 per share for the quarter ended June 30, 2025, payable on September 8, 2025 to the holders of record on August 25, 2025.

•Agreed to acquire the Wheeling & Lake Erie Railway, one of the largest regional railroads in the U.S., for cash consideration of $1.05 billion.

•Plan to refinance existing 10.50% senior notes and Series A preferred stock simultaneously with the closing of the acquisition.

•Closed financing of $300 million of tax-exempt debt at Repauno at average coupons of 6.50%; construction of phase 2 infrastructure fully underway.

For additional information that management believes to be useful for investors, please refer to the presentation posted on the Investor Relations section of the Company’s website, www.fipinc.com, and the Company’s Quarterly Report on Form 10-Q, when available on the Company’s website. Nothing on the Company’s website is included or incorporated by reference herein.

In addition, management will host a conference call on Friday, August 8, 2025 at 8:00 A.M. Eastern Time. The conference call may be accessed by registering via the following link https://register-conf.media-server.com/register/BI4b5e32e58cb742c48f06db1ac56e9de4. Once registered, participants will receive a dial-in and unique pin to access the call.

A simultaneous webcast of the conference call will be available to the public on a listen-only basis at www.fipinc.com. Please allow extra time prior to the call to visit the site and download the necessary software required to listen to the internet broadcast.

A replay of the conference call will be available after 11:30 A.M. on Friday, August 8, 2025 through 11:30 A.M. on Friday, August 15, 2025 on https://ir.fipinc.com/news-events/events.

The information contained on, or accessible through, any websites included in this press release is not incorporated by reference into, and should not be considered a part of, this press release.

FTAI Infrastructure primarily invests in critical infrastructure with high barriers to entry across the rail, ports and terminals, and power and gas sectors that, on a combined basis, generate strong and stable cash flows with the potential for earnings growth and asset appreciation. FTAI Infrastructure is externally managed by an affiliate of Fortress Investment Group LLC, a leading, diversified global investment firm.

Certain statements in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of trends and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements, many of which are beyond the Company’s control. The Company can give no assurance that its expectations will be attained and such differences may be material. Accordingly, you should not place undue reliance on any forward-looking statements contained in this press release. For a discussion of some of the risks and important factors that could affect such forward-looking statements, see the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available on the Company’s website (www.fipinc.com). In addition, new risks and uncertainties emerge from time to time, and it is not possible for the Company to predict or assess the impact of every factor that may cause its actual results to differ from those contained in any forward-looking statements. Such forward-looking statements speak only as of the date of this press release. The Company expressly disclaims any obligation to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with regard thereto or change in events, conditions or circumstances on which any statement is based. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

Alan Andreini

Investor Relations

FTAI Infrastructure Inc.

(646) 734-9414

aandreini@ftaiaviation.com

The Chief Operating Decision Maker (“CODM”) utilizes Adjusted EBITDA as our key performance measure.

Adjusted EBITDA provides the CODM with the information necessary to assess operational performance, as well as make resource and allocation decisions. Adjusted EBITDA is defined as net income (loss) attributable to stockholders, adjusted (a) to exclude the impact of provision for (benefit from) income taxes, equity-based compensation expense, acquisition and transaction expenses, losses on the modification or extinguishment of debt and capital lease obligations, changes in fair value of non-hedge derivative instruments, asset impairment charges, incentive allocations, depreciation and amortization expense, interest expense, interest and other costs on pension and other pension expense benefits (“OPEB”) liabilities, dividends and accretion of redeemable preferred stock, and other non-recurring items, (b) to include the impact of our pro-rata share of Adjusted EBITDA from unconsolidated entities, and (c) to exclude the impact of equity in earnings (losses) of unconsolidated entities and the non-controlling share of Adjusted EBITDA.

The following table sets forth a reconciliation of net (loss) income attributable to stockholders to Adjusted EBITDA for the three and six months ended June 30, 2025 and 2024:

_______________________________

(1)Includes the following items for the three months ended June 30, 2025 and 2024: (i) depreciation and amortization expense of $33,998 and $20,163, (ii) capitalized contract costs amortization of $1,232 and $1,433 and (iii) amortization of other comprehensive income of $(3,144) and $—, respectively. Includes the following items for the six months ended June 30, 2025 and 2024: (i) depreciation and amortization expense of $59,010 and $40,684, (ii) capitalized contract costs amortization of $2,465 and $2,009 and (iii) amortization of other comprehensive income of $(4,732) and $—, respectively.

(2)Includes the following items for the three months ended June 30, 2025 and 2024: (i) net loss of $(100) and $(12,838), (ii) interest expense of $— and $11,182, (iii) depreciation and amortization expense of $— and $8,050, (iv) acquisition and transaction expenses of $— and $31, (v) changes in fair value of non-hedge derivative instruments of $— and $(3,875), (vi) equity-based compensation of $— and $1, (vii) asset impairment charges of $— and $163, (viii) equity method basis adjustments of $— and $16 and (ix) other non-recurring items of $— and $478, respectively. Includes the following items for the six months ended June 30, 2025 and 2024: (i) net income (loss) of $6,478 and $(24,780), (ii) interest expense of $7,648 and $22,075, (iii) depreciation and amortization expense of $2,884 and $13,180, (iv) acquisition and transaction expenses of $201 and $50, (v) changes in fair value of non-hedge derivative instruments of $(12,822) and $(1,822), (vi) equity-based compensation expense of $— and $2, (vii) asset impairment of $— and $250, (viii) equity method basis adjustments of $10 and $32 and (ix) other non-recurring items of $1 and $478, respectively.

(3)Includes the following items for the three months ended June 30, 2025: Railroad severance expense of $298. Includes the following items for the six months ended June 30, 2025: (i) incidental utility rebillings of $650, (ii) loss on inventory heel of $385 and (iii) Railroad severance expense of $298.

(4)Includes the following items for the three months ended June 30, 2025 and 2024: (i) equity-based compensation of $86 and $268, (ii) provision for (benefit from) income taxes of $84 and $(142), (iii) interest expense of $3,706 and $2,639, (iv) depreciation and amortization expense of $3,071 and $3,387, (v) acquisition and transaction expenses of $165 and $3, (vi) interest and other costs on pension and OPEB liabilities of $(1) and $—, (vii) asset impairment charges of $8 and $—, (viii) losses on the modification or extinguishment of debt of $356 and $2,150 and (ix) other non-recurring items of $2 and $—, respectively. Includes the following items for the six months ended June 30, 2025 and 2024: (i) equity-based compensation expense of $224 and $699, (ii) provision for (benefit from) income taxes of $188 and $(276), (iii) interest expense of $7,646 and $4,828, (iv) depreciation and amortization expense of $6,140 and $6,581, (v) acquisition and transaction expenses of $166 and $3, (vi) interest and other costs on pension and OPEB liabilities of $(3) and $2, (vii) asset impairment of $27 and $—, (viii) losses on the modification or extinguishment of debt of $358 and $2,150 and (ix) other non-recurring items of $63 and $—, respectively.

The following tables sets forth a reconciliation of net income (loss) attributable to stockholders to Adjusted EBITDA for our four core segments for the three months ended June 30, 2025:

_______________________________

(1)Jefferson Terminal

Includes the following items for the three months ended June 30, 2025: (i) depreciation and amortization expense of $11,290 and (ii) capitalized contract costs amortization of $1,232.

Power and Gas

Includes the following items for the three months ended June 30, 2025: (i) depreciation and amortization expense of $15,018 and (ii) amortization of other comprehensive income of $(3,144).

(2)Railroad

Includes the following items for the three months ended June 30, 2025: Railroad severance expense of $298.

(3)Railroad

Includes the following items for the three months ended June 30, 2025: (i) equity-based compensation expense of $2, (ii) provision for income taxes of $5, (iii) interest expense of $1, (iv) depreciation and amortization expense of $31, (v) acquisition and transaction expenses of $17, (vi) interest and other costs on pension and OPEB liabilities of $(1), (vii) asset impairment charges of $27 and (viii) other non-recurring items of $2.

Jefferson Terminal

Includes the following items for the three months ended June 30, 2025: (i) equity-based compensation expense of $76, (ii) provision for income taxes of $78, (iii) interest expense of $3,707, (iv) depreciation and amortization expense of $2,900, (v) acquisition and transaction expenses of $16 and (vi) losses on the modification or extinguishment of debt of $171.

Repauno

Includes the following items for the three months ended June 30, 2025: (i) equity-based compensation expense of $8, (ii) provision for income taxes of $1, (iii) interest expense of $(2), (iv) depreciation and amortization expense of $140, (v) acquisition and transaction expenses of $132, (vi) loss on the modification or extinguishment of debt of $185 and (vii) asset impairment charges of $(19).