© Golar LNG Limited

Fourth Quarter

2018 Results

© Golar LNG Limited

FORWARD

LOOKING

STATEMENTS

2

This press release contains forward-looking statements as defined in the Securities Exchange Act of 1934, asamended and which reflect management’s current expectations, estimates and projections about itsoperations. All statements, other than statements of historical facts, that address activities and events thatshould, could or may occur in the future are forward-looking statements. Words such as “may,” “could,”“should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “propose,” “potential,”“continue,” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certainrisks, uncertainties and other factors, some of which are beyond our control and are difficult to predict.Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in suchforward-looking statements. You should not place undue reliance on these forward-looking statements,which speak only as of the date of this press release. Unless legally required, Golar undertakes no obligationto update publicly any forward-looking statements whether as a result of new information, future events orotherwise.

Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changes in LNG carriers, FSRU and floating LNG vessel market trends, includingcharter rates, ship values and technological advancements; changes in the supply and demand for LNG;changes in commodity prices; changes in trading patterns that affect the opportunities for the profitableoperation of LNG carriers, FSRUs; and floating LNG vessels; changes in Golar’s ability to retrofit vessels asFSRUs and floating LNG vessels and in our ability to obtain financing for such retrofitting; increases in costs;changes in our ability to sell additional equity interests in Hilli on a timely basis or at all; our inability to meetour obligations under the agreement entered into in connection with the BP Greater Tortue / AhmeyimProject; our ability to make additional equity funding payments to Golar Power to meet our obligationsunder the shareholders agreement; changes in the availability of vessels to purchase, the time it takes toconstruct new vessels, or the vessels’ useful lives; changes in the ability of Golar to obtain additionalfinancing; changes in Golar’s relationships with major chartering parties; changes in Golar’s ability to sellvessels to Golar LNG Partners LP; Golar’s ability to integrate and realize the benefits of acquisitions; changesin rules and regulations applicable to LNG carriers, FSRUs and floating LNG vessels; our inability to achievesuccessful utilization of our expanded fleet or inability to expand beyond the liquefaction, carriage of LNGand provision of FSRUs particularly through JVs; changes in domestic and international political conditions,particularly where Golar operates; as well as other factors listed from time to time in registrationstatements, reports or other materials that we have filed with or furnished to the Securities and ExchangeCommission, or the Commission, including our most recent annual report on Form 20-F.

As a result, you are cautioned not to rely on any forward-looking statements. Actual results may differmaterially from those expressed or implied by such forward-looking statements. The Company undertakesno obligation to publicly update or revise any forward-looking statements, whether as a result of newinformation, future events or otherwise unless required by law.

© Golar LNG Limited

Financial Highlights

3

(USD thousands)

2018

Oct-Dec

(Unaudited)

2018

Jul-Sep

(Unaudited)

2017

Oct-Dec

(Unaudited)

2018

Jan-Dec

(Unaudited)

2017

Jan-Dec

(Audited)

Total operating revenues

Voyage, charter-hire and commission expenses

Net operating revenues

Operating expenses

Administrative expenses(1)

Project development expenses(1)

Realized gain on FLNG derivative instrument

Other operating gains and losses

Adjusted EBITDA(2)

Unrealized (loss) / gain on FLNG derivative instrument

Depreciation and amortization

Other non-operating income (loss)

Net interest expense

Other financial items, net

Income taxes

Equity in net (losses) earnings of affiliates

Net income attributable to non-controlling interests

Net (loss) income attributable to Golar LNG Limited

Number of vessels

Dividend (US cents)

181,939

(40,085)

141,854

(29,099)

(12,675)

(4,726)

12,419

13,444

121,217

(195,740)

(28,295)

-

(28,268)

(24,385)

(627)

(154,089)

(2,770)

(312,957)

14

0.15

123,101

(24,737)

98,364

(28,850)

(14,775)

(5,741)

11,270

23,260

83,528

77,470

(28,528)

-

(29,539)

(8,231)

(156)

2,668

(31,000)

66,212

14

0.15

57,587

(19,464)

38,123

(17,076)

(10,844)

(5,919)

-

-

4,284

15,100

(16,585)

(189)

(5,034)

24,122

(435)

(6,348)

(11,092)

3,823

14

0.05

430,604

(105,826)

324,778

(96,860)

(51,542)

(21,690)

26,737

36,722

218,145

(9,970)

(93,689)

-

(91,775)

(32,022)

(1,267)

(157,636)

(63,214)

(231,428)

14

0.475

143,537

(61,292)

82,245

(55,946)

(38,031)

(12,303)

-

-

(24,035)

15,100

(76,522)

(81)

(53,415)

20,627

(1,505)

(25,448)

(34,424)

(179,703)

14

0.20

(1) Presentation changed in Q2 2018, prior periods retrospectively adjusted, see the Appendix attached.

(2) Adjusted EBITDA is a non-GAAP measure. See the Appendix attached for a definition of this non-GAAP measure.

© Golar LNG Limited

Balance Sheet

(USD thousands)

2018

Dec 31

(Unaudited)

2018

Sep 30

(Unaudited)

2018

Jun 30

(Unaudited)

2018

Mar 31

(Unaudited)

2017

Dec 31

(Audited)

Current assets

Cash and cash equivalents

Restricted cash and short-term deposits

Other current assets & amounts due from related parties

Non-current assets

Restricted cash

Investments in affiliates

Vessels and equipment, net

Asset under development

Other non-current assets

TOTAL ASSETS

Current liabilities

Current portion of long-term debt and short-term debt

Other current liabilities & amounts due to related parties

Non-current liabilities

Long-term debt

Other long-term liabilities

Stockholders’ equity

TOTAL LIABILITIES & EQUITY

217,835

332,033

100,069

154,393

571,782

3,271,379

20,000

139,104

4,806,595

730,257

269,881

1,835,102

145,564

1,825,791

4,806,595

306,387

302,456

77,563

155,320

702,222

3,315,960

-

327,176

5,187,084

830,911

268,659

1,788,669

152,449

2,146,396

5,187,084

375,067

276,289

62,772

176,029

708,664

3,342,677

-

251,476

5,192,974

868,725

290,427

1,855,960

335,167

1,842,695

5,192,974

172,380

215,412

43,888

175,782

726,736

2,061,027

1,212,762

176,159

4,784,146

731,053

199,377

1,735,559

337,569

1,780,588

4,784,146

214,862

222,265

36,333

175,550

703,225

2,077,059

1,177,489

157,504

4,764,287

1,384,933

247,341

1,025,914

309,795

1,796,304

4,764,287

4

© Golar LNG Limited

Further Adjusted EBITDA1

5

Further adjusted EBITDA1; full year 2018 for shipping & corporate, 4Q annualized for FLNG Annualized EBITDA1 4Q 2018

(1) Adjusted EBITDA, Further adjusted EBITDA and annualized EBITDA are non-GAAP measures. See the Appendix attached for a definition of this non-GAAP measure.

© Golar LNG Limited 6

Shipping

0

50

100

150

200

250

300

350

400

450

2016 2017 2018 2019 2020 2021 20220.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00

2016 2017 2018 2019 2020 2021 2022

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

2012 2013 2014 2015 2016 2017 2018

Global Production (mmtpa) US Production (mmtpa)

Ton Miles Shipping balance

IHS Markit - Connect

IHS Markit - Connect IHS Markit - Connect

Clarksons Platou

© Golar LNG Limited

FLNGFLNG Hilli Episeyo (Cameroon):

Continues to operate with 100%

commercial availability.

16th cargo being offloaded to FSRU

Golar Nanook.

Train 3 option likely to be exercised

during 4Q 2019 with production

starting before year end.

Discussions with Perenco and SNH

also initiated regarding Train 4.

7

FLNG Hilli Episeyo and FSRU Golar Nanook alongside offshore Cameroon.

Gimi alongside Gandria at Keppel Shipyard.

BP-Kosmos (Mauritania/Senegal):

20-year contract for converted FLNG Gimi.

Conversion expected to cost approx. $1.3

billion exclusive of financing costs with

annual contracted revenues less forecasted

operating costs of $215m.

Keppel Capital to own 30% of Gimi shares.

Credit commitment for $700m construction &

long-term financing facility being finalized.

Gimi has arrived in Keppel Shipyard where

conversion work will shortly commence.

© Golar LNG Limited

FLNG

8

FLNG technology facilitates development of Tortue field

Pictures courtesy of BP.

© Golar LNG Limited

FLNG Gimi compared to Hilli Episeyo

9

Hilli Gimi

Construction & Design

Contract

Capex

Number of Trains

• Base Capacity approximately 2.5 mmtpa

• Vessel EPC by Keppel Shipyard in Singapore

• Black & Veatch PRICO liquefaction technology and topside E&P services

• 8-year term variable price tolling contract facing Perenco and SNH Cameroon (50% capacity)

• Contract earnings less forecasted operating costs of ~$160m p.a. plus Brent-linked income

• Capex budget of approximately $1.3Bn

• Delivered under budget

• In full production

− 2 trains operational

− 1 train available at customers option

− 1 train uncontracted, under negotiation

• 20-year term fixed price tolling contract facing BP

• Contract earnings less forecasted operating costs $215m p.a. plus performance upside

• Base Capacity approximately 2.5 mmtpa

• Vessel EPC by Keppel Shipyard in Singapore

• Black & Veatch PRICO liquefaction technology and topside E&P services

• Capex budget of approximately $1.3Bn

• 4 liquefaction trains fully contracted

Ownership • Original ownership 89% Golar / 10% Keppel / 1% B&V • 70% Golar / 30% Keppel

Similar / SuperiorPositioning?

Financing• $700 MM debt facility during construction

• $260MM top up post acceptance

• $700 MM senior secured loan

• Plan to increase closer to acceptance

Opex • Opex cost risk resides exclusively with Golar• Operating cost inflation mitigated by contract structure.

Fee receivable to cover operating costs in addition to bareboat rate

© Golar LNG Limited10

Golar experiencing a

step-up in FLNG

interest from other oil

majors and national

oil companies.

FLNG Prospects

© Golar LNG Limited

FSRU and PowerSergipe project continues to plan, bids for othersmaking progress:

Progress continues on schedule for Jan 2020 COD.

First commissioning cargo being collected.

Diesel to LNG switching opportunities targeted for

part use of remaining FSRU capacity.

Other FSRU-to-power opportunities being pursued

in Brazil, including Barcarena project.

Bids also submitted for FSRU projects requiring

both new build and conversions outside Brazil.

11

LNGC conversion candidate Golar Viking/ Croation FSRU site

Sergipe power station progress to date

Croatia FSRU - convert, sell and operate:

Golar LNG executed binding agreements with

project developer LNG Hrvatska d.o.o. to

convert, sell and operate the Golar Viking as

an FSRU in Croatia.

Conversion capex to be funded by stage

payments under the agreement.

Start-up in 4Q20. Conversion to commence

at end of current LNGC contract in 1Q20.

Commencement subject to certain conditions

precedent including confirmation of funding.

© Golar LNG Limited

Summary and Outlook

12

Carriers: Structural shipping shortage thesis still stands. Remain bullish. Shipping spin-off planned, pending market conditions.

FSRU & Power: Sergipe commences operations in less than 11 months. Further growth potential in Brazil this year. Strategic options for Golar Power being discussed with joint venture partner.

FLNG: FLNG tolling contract now agreed with BP. Hilli performing well and T3 utilization expected to commence during 4Q19. Significant uptick in FLNG interest.

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

1 5 9 13 17 21 25

$'0

00

45% of FLNG Hilli T2

Golar’s share of contract earnings backlog1:

32% of GMLP (Incl. Hilli T1)

25% of Sergipe + 50% of Nanook

70% of FLNG Gimi

(1) Contract earnings backlog is a non-GAAP measure. See the Appendix attached for a definition of this non-GAAP measure.

THANK YOU

© Golar LNG Limited13

© Golar LNG Limited

Appendix: Non-GAAP Measures

14

Adjusted EBITDA: Adjusted EBITDA is calculated by taking net income before interest, tax, unrealized mark-to-market movements on the oil derivative instrument,

depreciation and amortization. We believe that the exclusion of these items enables investors and other users of our financial information to assess our sequential and

year over year performance and operating trends on a more comparable basis and is consistent with management’s own evaluation of business performance. Adjusted

EBITDA is a non-GAAP financial measure and should not be considered as an alternative to net (loss) income or any other indicator of Golar's performance calculated

in accordance with US GAAP. Please see next slide for a reconciliation of Adjusted EBITDA to Net Income.

Further Adjusted EBITDA: We have utilized Q3 2018 Further Adjusted EBITDA for the purposes of showing the proportion of Adjusted EBITDA that is attributable to

Golar after removing the Partnership’s share of Hilli Adjusted EBITDA and the impact of non-occurring items. In looking at Q4 2018 Adjusted EBITDA, management has

removed One LNG dissolution costs and receipt of Tundra claim monies as these items would not be expected to occur on a regular basis. Management believes that

that the definition of Further Adjusted EBITDA provides relevant and useful information to investors. The following slide presents a reconciliation to the most directly

comparable financial measure under US GAAP. Further Adjusted EBITDA is not intended to represent future cashflows from operations or net income (loss) as defined

by US GAAP. This measure should be seen as a supplement to and not a substitute for our US GAAP measures of performance and the financial results calculated in

accordance with US GAAP and reconciliations from these results should be carefully evaluated. Please see next slide for a reconciliation of Further Adjusted EBITDA.

Partnership’s share of Hilli Adjusted EBITDA: In Q3 2018, we completed the dropdown of 50% of the Common Units in Golar HilliLLC to the Partnership. As we

have retained control we continue to consolidate the results of Golar Hilli LLC on a line by line basis. In order to calculate our proportionate share of Adjusted EBITDA

management has removed the amount attributable to the Partnership. The Partnership’s share of Hilli Adjusted EBITDA is defined as the Partnership’s share of Golar

Hilli LLC’s revenue and operating expenses before interest, tax, depreciation, and amortization. From a US GAAP perspective the Partnersh ip’s share of Golar HilliLLC

is reflected within “net income attributable to non-controlling interests”. Partnership’s share of Hilli Adjusted EBITDA is not intended to represent future cashflows

attributable to the Partnership. The measure should be seen as a supplement to and not a substitute for our US GAAP measures of performance.

Contract Earnings Backlog: Contract earnings backlog represents Golar’s share of contracted fee income for executed contracts less forecasted operating expenses

for these contracts. In calculating forecasted operating expenditure, management has assumed that where there is an Operating Services Agreement the amount

receivable under the services agreement will cover the associated operating costs. For contracts, which do not have a separate Operating Services Agreement

management has made an assumption about operating costs based on the current run rate. The only material application of this methodology was to the Hilli Earnings

backlog where we assumed operating costs of approximately $120kpd. For consolidated subsidiaries where we do not own 100% of the share capital, management

has only included our proportionate share of contract earnings. The material application of this assumption was to Gimi (70% ownership) and Hilli (44.5% of the

Common Unit entitlement). No contracted fee income was included for T3 or for the Hilli oil derivative. For equity accounted investments (the Partnership and Golar

Power) we have included our proportionate share of their contract earnings backlog under the same assumptions that we have applied to our consolidated subsidiaries.

In the future when our contract earnings backlog actualises, we will show our share of their earnings net of interest and tax in one line in the Income Statement “Equity

in net earnings/(losses) of affiliates”. Management has not forecasted net income for these initiatives as information to provide such a forward-looking estimate is not

available without unreasonable effort. Contract earnings backlog is not intended to represent EBITDA or future cashflows that will be generated from these projects.

This measure should be seen as a supplement and not a substitute for our US GAAP measures of performance.

Change of presentation: With effect from the quarter ended June 30, 2018, we presented a new line item in operating expenses in the income statement. The new

line item, "Project development expenses", includes the costs associated with pursuing future contracts and developing our pipeline of activities that have not met our

internal threshold for capitalization. Previously, these costs were presented within "Administrative expenses" along with our general overhead costs. We believe that the

introduction of this new line item in the income statement provides users of our financial statements greater transparency over a key element of our business. This

presentation change has been retrospectively adjusted in prior periods.

© Golar LNG Limited

Non-GAAP Reconciliations

15

Adjusted EBITDA Reconciliation 2018 2018

(in thousands of $) Oct-Dec Jan-Dec

Net (loss) income attributable to Golar LNG Limited (312,957) (231,428)

Adjusted for:

Interest income (2,983) (10,133)

Interest expense 31,251 101,908

Losses on derivative instruments 23,605 30,541

Other financial items, net 780 1,481

Income taxes 627 1,267

Equity in net losses (earnings) of affiliates 154,089 157,636

Net income attributable to non-controlling interests 2,770 63,214

Operating (loss) income (102,818) 114,486

Adjusted for:

Unrealized loss (gain) on oil derivative instrument 195,740 9,970

Depreciation and amortization 28,295 93,689

Adjusted EBITDA 121,217 218,145

Further Adjusted EBITDA

Adjusted EBITDA 121,217 218,145

Non re-occurring cash item: Golar Tundra Cash Recovery Claim (14,740) (50,740)

Non re-occurring cash item: One LNG dissolution 1,296 13,978

Partnership’s Share of Hilli Adjusted EBITDA (21,211) (38,180)

Further Adjusted EBITDA 86,562 143,203

Further Adjusted EBITDA Annualised 346,248 -

16

Non-GAAP Reconciliations ctd.

(Rounded to the nearest million)

Q4

“Vessel and Operations” compromises the sum of:

As disclosed in our Q4 2018 Earnings Release

Shipping1 Corporate1 Vessel and Operations1

FLNG Total

Adjusted EBITDA 76.45 (7.25) 69.20 52.00 121.20

Tundra claim (14.70) (14.70) (14.70)

One LNG 1.30 1.30

Partnership’s share of Hilli

(21.20) (21.20)

Further Adjusted EBITDA

61.75 (7.25) 54.50 32.10 86.60

Q4 Further Adjusted EBITDA annualised

247 (29) 128 346

(1) “Vessel and Operations” as presented in our 4Q Earnings release is separated into “Shipping” and “Corporate”.