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Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2026.

The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 17, 2025.

The reporting person undertakes to provide to Excelerate Energy, Inc., any security holder of Excelerate Energy, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (3) to this Form 4.

The price reported in Column 4 is a weighted price. The shares were sold in multiple transactions at prices ranging from $33.95-34.60, inclusive.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 and March 5, 2025 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended), and a portion of each vested on March 5, 2026.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest in full on the first anniversary of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 and March 5, 2025 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended), and a portion of each vested on March 5, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 and March 5, 2025 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended), and a portion of each vested on March 5, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 and March 5, 2025 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended), and a portion of each vested on March 5, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 and March 5, 2025 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended), and a portion of each vested on March 5, 2026.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest in full on the first anniversary of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest in full on the first anniversary of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 and March 5, 2025 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended), and a portion of each vested on March 5, 2026.

Reflects PSUs reported as acquired under footnote (1) above that were withheld to satisfy the Reporting Person's tax withholding liability.

Reflects PSUs reported as acquired under footnote (1) above that were withheld to satisfy the Reporting Person's tax withholding liability.

Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A common stock of the Issuer, or the cash equivalent thereof.

The reporting person elected to defer receipt of 66,144 shares of common stock issuable upon the vesting of PSUs granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

The deferred PSUs become payable in a single lump sum or in five annual installments upon the reporting person's separation from service.

Represents performance stock units ("PSUs") granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan, each of which represented a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

Reflects PSUs reported as acquired under footnote (1) above that were withheld to satisfy the Reporting Person's tax withholding liability.

Represents performance stock units ("PSUs") granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan, each of which represented a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

Reflects PSUs reported as acquired under footnote (1) above that were withheld to satisfy the Reporting Person's tax withholding liability.

Reflects PSUs reported as acquired under footnote (1) above that were withheld to satisfy the Reporting Person's tax withholding liability.

Represents performance stock units ("PSUs") granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan, each of which represented a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A common stock of the Issuer, or the cash equivalent thereof.

The reporting person elected to defer receipt of 10,582 shares of common stock issuable upon the vesting of PSUs granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

The deferred PSUs become payable in a single lump sum or in five annual installments upon the reporting person's separation from service.

Represents performance stock units ("PSUs") granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan, each of which represented a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

Represents performance stock units ("PSUs") granted on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan, each of which represented a contingent right to receive one share of Class A common stock of the Issuer. The PSUs vested at 132% of the target amount of the Issuer's adjusted return on equity and 96.80% of the target amount of the Issuer's relative total shareholder return within a group of peer companies, both as measured from January 1, 2023 through December 31, 2025. The Issuer's compensation committee certified the achievement of the performance goal on February 18, 2026.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on November 1, 2024 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on November 1, 2025.

Includes 33,855 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2025.

Includes 35,669 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2025.

Includes 21,923 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2025.

Includes 41,018 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2025.

Includes 13,017 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 31, 2023 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 31, 2025.

Includes 15,266 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 5, 2025.

Includes 14,462 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A Common Stock.

Represents PSUs that are eligible to vest if the company's annualized absolute total shareholder return, expressed as a percentage, over the three-year performance period from January 1, 2025 through December 31, 2027, achieves certain hurdles. The actual number of PSUs earned may range from zero to 200% of the target number of PSU. The number of PSUs reported reflects the maximum number of PSUs the reporting person may earn under the award.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 5, 2025.

Includes 8,754 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest in full on the first anniversary of the grant date.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Includes 46,028 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Reflects restricted stock units ("RSUs") withheld in satisfaction of the Reporting Person's tax withholding liability. The RSUs were granted to the Reporting Person on March 5, 2024 pursuant to the Excelerate Energy, Inc. Long-Term Incentive Plan (as amended, the "Plan"), and a portion vested on March 5, 2025.

Includes 27,255 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Represents restricted stock units ("RSUs"), each of which represents the right to receive one share of Class A common stock of the Issuer. The RSUs vest ratably on each of the first three anniversaries of the grant date.

Includes 14,558 outstanding RSUs granted under the Plan. Each RSU represents the right to receive one share of Class A common stock of the Issuer.

Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A Common Stock.

Represents PSUs that are eligible to vest if the company's annualized absolute total shareholder return, expressed as a percentage, over the three-year performance period from January 1, 2025 through December 31, 2027, achieves certain hurdles. The actual number of PSUs earned may range from zero to 200% of the target number of PSU. The number of PSUs reported reflects the maximum number of PSUs the reporting person may earn under the award.

Each performance stock unit ("PSU") represents a contingent right to receive one share of Class A Common Stock.

Represents PSUs that are eligible to vest if the company's annualized absolute total shareholder return, expressed as a percentage, over the three-year performance period from January 1, 2025 through December 31, 2027, achieves certain hurdles. The actual number of PSUs earned may range from zero to 200% of the target number of PSU. The number of PSUs reported reflects the maximum number of PSUs the reporting person may earn under the award.