Challenging Conventional Thinking with Proven Results in the LNG Industry

Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it has priced an underwritten public offering of $50 million aggregate principal amount of 8.25% senior notes due 2028. The Company has granted the underwriters a 30-day option to purchase an additional $7.5 million aggregate principal amount of senior notes in connection with the offering. The Company intends to use the net proceeds from this offering for general corporate purposes, including the potential acquisition of upstream assets. The offering is expected to close on or about November 10, 2021, subject to satisfaction of customary closing conditions.

B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. EF Hutton, division of Benchmark Investments, LLC, is acting as lead manager, and Aegis Capital Corp., Boenning & Scattergood, Inc., Colliers Securities LLC, Newbridge Securities Corporation, Revere Securities LLC, Wedbush Securities Inc. and B.C. Ziegler and Company are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the SEC). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209; Telephone: (703) 312-9580, or by emailing prospectuses@brileyfin.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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Tellurian Inc. (Tellurian or the Company) (NYSE American: TELL) today announced that it intends to offer and sell, subject to market and other conditions, 8.25% senior notes due 2028 in an underwritten public offering. The Company also expects to grant the underwriters a 30-day option to purchase additional senior notes in connection with the offering. There can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The Company intends to use the net proceeds from the offering for general corporate purposes, including the potential acquisition of upstream assets.

B. Riley Securities, Inc., Ladenburg Thalmann & Co. Inc. and William Blair & Company, L.L.C. are acting as joint book-running managers for the offering. EF Hutton, division of Benchmark Investments, LLC, is acting as lead manager, and Aegis Capital Corp., Alexander Capital L.P., Boenning & Scattergood, Inc., Colliers Securities LLC, Newbridge Securities Corporation, Revere Securities LLC, Wedbush Securities Inc. and B.C. Ziegler and Company are acting as co-managers for the offering.

The offering is being made pursuant to an effective shelf registration statement of the Company previously filed with the Securities and Exchange Commission (the SEC). The offering may be made only by means of a prospectus supplement and the accompanying prospectus. Copies of the preliminary prospectus supplement for the offering and the accompanying prospectus may be obtained by sending a request to B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209; Telephone: (703) 312-9580, or by emailing prospectuses@brileyfin.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any state or jurisdiction in which such offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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Tellurian Inc. (Tellurian) (NYSE American: TELL) completed sales from Driftwood LNG’s capacity for the first two plants with the signing of three million tonnes per annum (mtpa) in sale and purchase agreements (SPAs) with Shell and raised approximately $116 million in a public stock offering in the third quarter of 2021. Subsequent to the quarter end, Tellurian transferred its common stock listing from the Nasdaq Capital Market to the NYSE American.

Tellurian ended its third quarter of 2021 with approximately $210.8 million of cash and cash equivalents and no borrowing obligations. Natural gas sales for the third quarter generated approximately $15.6 million in revenues compared to $7.3 million during the same period of 2020.

Tellurian has a strong balance sheet consisting of approximately $483.9 million in total assets. Tellurian reported a net loss of approximately $18.7 million, or $0.04 per share (basic and diluted), for the three months ended September 30, 2021.

President and CEO Octávio Simões said, “Tellurian recently brought production online from two newly completed natural gas wells, adding to our financial strength and integrated model that provides a valuable hedge to volatile global prices. By year end 2021 we plan to produce approximately 70 million cubic feet equivalent per day (mmcfed). In addition, we have authorized a new drilling program and plan to drill 12 – 14 wells to produce approximately 220 mmcfed by year end 2022. We have turned our focus to financing Driftwood LNG and plan to give Bechtel notice to proceed with construction in early 2022.”

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Tellurian Inc. (Tellurian) announced today it will transfer the listing of its common stock from the Nasdaq Capital Market to the NYSE American.

Executive Chairman Charif Souki said, “Global natural gas shortages and recent history-making prices indicate the pressing need for additional liquefaction export capacity in the United States. Tellurian is poised to contribute to America’s status as an energy superpower, having achieved both regulatory permits and commercial success for Driftwood LNG phase one development. We have turned our focus to putting together a world class banking group and have started site preparation, in advance of giving our partner Bechtel notice to proceed with construction expected first quarter 2022. Transferring our stock listing to the NYSE American allows us to leverage the exchange’s prestigious trading platform for our shareholders’ benefit.”

“We’re excited to welcome Tellurian as it transfers to NYSE American and joins our community of innovators and disruptors,” said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group. “We look forward to working with Tellurian as it supplies the world with a reliable, clean energy supply.”

Tellurian expects its common stock to begin trading on the NYSE American on November 2, 2021 and will remain under the current symbol “TELL”. Trading of the common stock on its current platform is expected to continue until the close of business on November 1, 2021.

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