Market Overview

NextDecade Sells $50 Million of Convertible Preferred Stock

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NextDecade Corporation ("NextDecade" or the "Company") (NASDAQ:NEXT)
announced today that it has agreed to sell $50 million of convertible
preferred stock to HGC NEXT INV, LLC ("HGC"), and to funds and accounts
managed by each of York Capital Management Global Advisors, LLC and its
affiliates ("York"), Valinor Management, L.P. ("Valinor"), and Halcyon
Capital Management LP ("Halcyon").

HGC, a wholly owned subsidiary of a leading Korean petrochemical
company, will invest $35 million, and the Company's three largest
stockholders, York, Valinor, and Halcyon, will invest $15 million
pursuant to backstop agreements dated April 11, 2018. These investments
will be made in Series A Convertible Preferred Stock ("Series A")
pursuant to the Company's private offering approved at a Special Meeting
of Stockholders on June 15, 2018 ("Special Meeting").

As part of its investment in NextDecade, HGC will receive one seat on
the Company's board of directors, and will also have the right to
contribute up to $350 million of project-level equity upon the final
investment decision (FID) of NextDecade's Rio Grande LNG project.

The Company intends to use the proceeds of the Series A private offering
to continue developing its Rio Grande LNG terminal facility and
associated pipelines in South Texas and for general corporate purposes
and working capital.

During the course of the offering, the Company received expressions of
interest for convertible preferred stock in excess of the $50 million
authorized at the Special Meeting. At the direction of the Company's
board of directors, management is exploring the merits of these
expressions of interest. The Company or any prospective investors may
elect not to pursue any additional transactions at this time. Should the
Company elect to pursue any transactions in excess of the $50 million
authorized at the Special Meeting, the Company would seek stockholder
approval for the issuance of additional convertible preferred stock.

Macquarie Capital (USA), Inc. advised the Company on the HGC investment.

About NextDecade Corporation

NextDecade is an LNG development company focused on LNG export projects
and associated pipelines in Texas. NextDecade intends to develop a
portfolio of LNG projects, including the 27 mtpa Rio Grande LNG export
facility in Brownsville, Texas and the 4.5 Bcf/d Rio Bravo Pipeline that
would transport natural gas from the Agua Dulce area to Rio Grande LNG.
NextDecade's common stock is listed on the Nasdaq Capital Market under
the symbol "NEXT." NextDecade is headquartered in The Woodlands, Texas.

Located at the Port of Brownsville in South Texas, NextDecade's Rio
Grande LNG project is expected to be a leader among second wave U.S. LNG
projects. NextDecade's customers and shareholders will benefit from the
project's experienced leadership, proven approach, and optimal location.
NextDecade's technology selections will foster operational reliability
and afford NextDecade's customers access to reliable, low-cost, abundant
natural gas from the Permian Basin, Eagle Ford Shale, and other basins.

CAUTIONARY INFORMATION ABOUT FORWARD-LOOKING STATEMENTS

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.

This press release contains forward-looking statements within the
meaning of U.S. federal securities laws, including, in particular,
statements about the Company's private placement of Series A Convertible
Preferred Stock and the use of proceeds thereof. 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 the Company and its subsidiaries. These
statements have been based on the Company's current assumptions,
expectations, and projections about future events and 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 the Company's Rio
Grande LNG and Rio Bravo pipeline projects and other matters discussed
in the "Risk Factors" section of the Company's Annual Report on Form
10-K for the year ended December 31, 2017 and other subsequent reports
filed with the Securities and Exchange Commission, all of which are
incorporated herein by reference.

Any development of the projects remain contingent upon completing
required commercial agreements; acquiring all necessary permits and
approvals; securing all financing commitments and potential tax
incentives; achieving other customary conditions; and making a final
investment decision to proceed. The forward-looking statements in this
press release speak as of the date of this release. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, the Company can give no assurance that the
expectations will prove to be correct. The Company may from time
to time voluntarily update its prior forward-looking statements,
however, it disclaims any commitment to do so except as required by
securities laws.

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