TELL Tellurian Inc

On July 12, 2021, Tellurian Inc., a Delaware corporation (“Tellurian”), terminated that certain Common Stock Purchase Agreement dated April 3, 2019 between Tellurian and Total Delaware, Inc., a Delaware corporation and subsidiary of TOTAL SE (“Total”), pursuant to which Total had agreed to purchase, and Tellurian had agreed to issue and sell in a private placement to Total, 19,872,814 shares of Tellurian common stock, par value $0.01 per share, in exchange for a cash purchase price of $10.064 per share, subject to the satisfaction of certain closing conditions (the “CSPA”).

Also on July 12, 2021, Driftwood Holdings LP, a Delaware limited partnership and wholly owned subsidiary of Tellurian (the “Partnership”), terminated that certain Equity Capital Contribution Agreement dated July 10, 2019 between the Partnership and Total (the “Contribution Agreement”). The Contribution Agreement principally governed the terms of Total’s proposed investment in the Partnership, subject to the satisfaction of certain closing conditions. As a result of the termination of the Contribution Agreement, (i) the counterparts of the Partnership Agreement, the LNG SPA, and the DOE Agreement (each as defined in the Contribution Agreement) that were executed and delivered into escrow by Total automatically terminated in accordance with the terms of the Contribution Agreement; and (ii) that certain LNG Sale and Purchase Agreement dated July 10, 2019 between Tellurian Trading UK Ltd, a wholly owned subsidiary of Tellurian (“Tellurian Trading”), and Total Gas & Power North America, Inc., an affiliate of Total (“Total Gas & Power”), pursuant to which Total Gas & Power had the right to purchase from Tellurian Trading approximately 1.5 million tonnes per annum of liquefied natural gas on a free on board basis at prices based on the Platts Japan Korea Marker index price (the “TTUK SPA,” and together with the CSPA, Contribution Agreement, Partnership Agreement, LNG SPA, and DOE Agreement, the ”Total Agreements”), automatically terminated in accordance with its terms.

The Total Agreements were terminated because they are not consistent with the commercial agreements that Driftwood LNG LLC, a Delaware limited liability company and wholly owned subsidiary of Tellurian, has reached with other counterparties.