Rio Grande LNG, Cameron County Agree to Chapter 312 Property Tax Incentives

• Agreements provide full abatement of county property taxes for ten
  years of operations
• Rio Grande LNG commits to maximize local hiring, significant
  payments-in-lieu-of-taxes, and funding for community projects

THE WOODLANDS, Texas–(BUSINESS WIRE)–NextDecade Corporation (NASDAQ: NEXT) (“NextDecade”), a liquefied
natural gas (“LNG”) development company focused on LNG export projects,
announced today that its wholly-owned subsidiary, Rio Grande LNG, LLC
has executed agreements with Cameron County, Texas (the “County”) to
receive Chapter 312 tax incentives for its proposed Rio Grande LNG
export project at the Port of Brownsville.

The tax abatement agreements are aligned with distinct phases of the
project and provide for the full abatement of County property taxes for
each phase’s first ten years of operations. Subject to a positive final
investment decision, Rio Grande LNG agrees to pay $2.7 million in
payments-in-lieu-of-taxes during each year of tax abatement for all
phases. Additionally, the Rio Grande LNG agrees to provide up to $10
million to fund community projects and to maximize the hiring of local
residents during construction and operations.

Currently one of the largest proposed private investments in the State
of Texas, Rio Grande LNG and its associated Rio Bravo Pipeline could
invest more than $15 billion in the County. At full build-out, the
proposed facility and pipelines are expected to create approximately
6,000 direct jobs during construction; more than 250 permanent jobs at
the facility during operations; and more than 3,000 indirect permanent
jobs in the County. Additionally, exports from Rio Grande LNG could
significantly improve the U.S. balance of trade while supporting key
allies with access to cleaner-burning natural gas.

NextDecade Chief Financial Officer, Ben Atkins, said, “This marks the
start of our company’s formal partnership with Cameron County. We look
forward to a long collaboration to positively impact the economic
wellbeing of County residents.” Atkins continued, “These tax incentives
are essential to the project’s competitiveness, and we are grateful to
have received broad political support, evidencing our commitment to safe
operations and sensitivity to the region’s environment and tourist
sectors. Rio Grande LNG is ideally located with access to a capable
workforce, superb port facilities and abundant, low-cost feed gas from
the Eagle Ford and Permian basins.”

The Rio Grande LNG project is in the advanced stages of its regulatory
approval process with the U.S. Federal Energy Regulatory Commission and
hopes to receive all necessary approvals by mid-2018, allowing for a
final investment decision later that year and first LNG in 2022. The
terminal is to be engineered and constructed by CB&I, a world-class LNG
engineering and construction company, and will utilize a proven, safe,
low-cost design based on equipment supplied by Air Products and
Chemicals, Inc., and Baker Hughes GE.

About NextDecade Corporation

Based in The Woodlands, Texas, NextDecade is a developer of LNG projects
providing customers access to the full LNG value chain. NextDecade
comprises a team of industry leaders with extensive experience in
signing major LNG off-take deals, and developing and managing LNG, FLNG,
and FSRU projects, as well as associated natural gas infrastructure
around the world. For more information, please visit www.next-decade.com.

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the
meaning of U.S. federal securities laws. The words “believe”, “expect”,
“intend”, “plan”, “potential”, and similar expressions are intended to
identify forward-looking statements, and these statements may relate to
the business of NextDecade Corporation and its affiliates. These
statements 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. These risks include
uncertainties about NextDecade’s Rio Grande LNG and Rio Bravo pipeline
projects and other matters discussed in the “Risk Factors” section of
the definitive proxy statement filed by NextDecade (formerly “Harmony
Merger Corp.”) on June 29, 2017 and other reports filed with the
Securities and Exchange Commission (the “SEC”), all of which are
incorporated herein by reference. The forward-looking statements in this
press release speak as of the date of this release. Although NextDecade
may from time to time voluntarily update its prior forward-looking
statements, it disclaims any commitment to do so except as required by
securities laws.

Contacts

INVESTORS
NextDecade
Patrick Hughes, + 1 (832)
209 8131
[email protected]
or
MEDIA
Ward
for NextDecade
Molly LeCronier, +1 (713) 869 0707
[email protected]