Appointment of Director to the Board

Rhea-AI Summary

Golar LNG Limited (NASDAQ: GLNG) has announced the appointment of Stephen J. Schaefer to its Board of Directors, effective August 1, 2025. Mr. Schaefer brings extensive experience in natural gas and electricity markets since 1993, currently serving as Chairman of Talen Energy Corporation and Board Member of GenOn Energy.

Mr. Schaefer's distinguished career includes roles as a Partner at Riverstone Holdings, Managing Director at Huron Consulting Group, and Vice President at Duke Energy North America. He is a Chartered Financial Analyst with a magna cum laude B.S. in Finance and Accounting from Northeastern University.

Positive

• Appointment of highly experienced director with extensive energy market expertise
• Addition of strategic leadership with strong background in mergers and acquisitions
• Enhancement of board expertise in natural gas markets

Negative

• None.

Golar LNG Limited (“Golar”) (Nasdaq: “GLNG”) is pleased to announce that effective August 1, 2025, Mr. Stephen J. Schaefer will join its Board of Directors.

Mr. Schaefer brings extensive experience in the natural gas and electricity markets, having been actively involved in the sector since 1993. Mr. Schaefer currently serves as Chairman of the Board of Talen Energy Corporation, as a member of the Board of Directors for GenOn Energy and as a Senior Advisor of EverGen Power LLC. His previous roles include Chairman of GenOn Energy and Texgen Power LLC and as a member of the Board of Directors for Homer City Holdings LLC and Element Markets LLC. Prior to retiring in 2015, he was a Partner with Riverstone Holdings, a private equity firm focused on energy investing. Previously, Mr. Schaefer was a Managing Director with Huron Consulting Group, where he founded and headed its Energy Practice. From 1998 to 2003 Mr. Schaefer was Managing Director and Vice President of Duke Energy North America, responsible for mergers and acquisitions. Mr. Schaefer is a Chartered Financial Analyst and holds a B.S., magna cum laude, in Finance and Accounting from Northeastern University.

Commenting on the appointment, Mr. Troim, Chairman of the Board, said: “We are honoured to welcome Mr. Schaefer to the Board. His deep expertise in global energy markets combined with a sharp strategic vision and well-established industry credibility will be instrumental in advancing Golar’s growth ambitions. We look forward to the valuable insights and leadership he will bring.”

Hamilton, Bermuda
July 30, 2025

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

FAQ

Who is Stephen J. Schaefer, the new board member of Golar LNG (NASDAQ:GLNG)?

Stephen J. Schaefer is an experienced energy sector executive who currently serves as Chairman of Talen Energy Corporation and Board Member of GenOn Energy. He is a CFA charterholder with extensive experience in natural gas markets since 1993.

When will Stephen Schaefer join Golar LNG's board of directors?

Stephen J. Schaefer will join Golar LNG's Board of Directors effective August 1, 2025.

What is Stephen Schaefer's background in the energy sector?

Schaefer has been involved in natural gas and electricity markets since 1993, serving as Partner at Riverstone Holdings, Managing Director at Huron Consulting Group, and VP at Duke Energy North America. He currently chairs Talen Energy Corporation and serves on GenOn Energy's board.

How will Stephen Schaefer's appointment benefit Golar LNG (GLNG)?

According to Chairman Troim, Schaefer's deep expertise in global energy markets, strategic vision, and industry credibility will be instrumental in advancing Golar's growth ambitions.