FTAI Infrastructure Business Summary

FTAI Infrastructure Inc. (FIP) operates a diversified portfolio of critical infrastructure assets across North America, generating revenue through long-term service contracts, transportation tariffs, and energy sales. The company’s business model is organized into five primary segments: Railroad (comprising the Transtar system and Wheeling & Lake Erie Railway), Jefferson Terminal (a multi-modal crude and refined products hub), Repauno (a deepwater port and liquid storage facility), Power and Gas (anchored by the Long Ridge Energy terminal), and Sustainability and Energy Transition (focusing on hydrogen and recycling initiatives). FIP distinguishes itself by acquiring high-barrier-to-entry assets with stable cash flows and significant appreciation potential. In the competitive landscape, FIP contends with major infrastructure and logistics players such as Brookfield Infrastructure Partners (BIP), Macquarie Infrastructure, Delek Logistics Partners (DKL), and RXO. Relative to these peers, FIP occupies a high-growth niche, leveraging its relationship with Fortress Investment Group to execute complex asset spin-offs and intensive capital improvements in the North American energy and transport sectors. Leadership is spearheaded by CEO and President Kenneth J. Nicholson, a Managing Director at Fortress Investment Group with over 30 years of experience in transportation and energy investment banking at firms like UBS and Donaldson, Lufkin & Jenrette. The executive team was further strengthened in March 2025 with the appointment of Carl Russell "Buck" Fletcher IV as CFO and Chief Accounting Officer; Fletcher brings a pedigree from Blackstone Energy Partners and Onyx Renewable Partners, where he served as co-CEO. The company is chaired by Joseph P. Adams, Jr., who also serves as the CEO of FTAI Aviation and was instrumental in the 2022 spin-off that established FIP as an independent entity. FTAI Infrastructure is externally managed by an affiliate of Fortress Investment Group, and its institutional investor base includes major financial entities such as Vanguard Group, JPMorgan Chase, and Goldman Sachs, reflecting a high degree of institutional confidence in its long-term infrastructure development strategy.