X0306 4 2022-08-08 0 0001899883 FTAI Infrastructure Inc. FIP 0001672945 Nicholson Kenneth J. 1345 AVENUE OF THE AMERICAS, 45TH FLOOR NEW YORK NY 10105 0 1 0 0 President and CEO Stock Options (Right to Buy) 1.65 2022-08-08 4 A 0 225 A 2030-07-06 Common Stock 225 225 D Stock Options (Right to Buy) 1.65 2022-08-08 4 A 0 75 A 2030-07-07 Common Stock 75 75 D Stock Options (Right to Buy) 1.68 2022-08-08 4 A 0 71 A 2030-07-08 Common Stock 71 71 D Stock Options (Right to Buy) 1.68 2022-08-08 4 A 0 71 A 2030-07-13 Common Stock 71 71 D Stock Options (Right to Buy) 1.72 2022-08-08 4 A 0 69 A 2030-07-14 Common Stock 69 69 D Stock Options (Right to Buy) 1.91 2022-08-08 4 A 0 950 A 2030-07-29 Common Stock 950 950 D Stock Options (Right to Buy) 1.88 2022-08-08 4 A 0 68 A 2030-07-30 Common Stock 68 68 D Stock Options (Right to Buy) 1.93 2022-08-08 4 A 0 198 A 2030-07-31 Common Stock 198 198 D Stock Options (Right to Buy) 1.96 2022-08-08 4 A 0 63 A 2030-08-04 Common Stock 63 63 D Stock Options (Right to Buy) 1.93 2022-08-08 4 A 0 195 A 2030-08-05 Common Stock 195 195 D Stock Options (Right to Buy) 1.94 2022-08-08 4 A 0 259 A 2030-08-06 Common Stock 259 259 D Stock Options (Right to Buy) 2.04 2022-08-08 4 A 0 248 A 2030-08-07 Common Stock 248 248 D Stock Options (Right to Buy) 2.18 2022-08-08 4 A 0 696 A 2030-08-10 Common Stock 696 696 D Stock Options (Right to Buy) 2.19 2022-08-08 4 A 0 870 A 2030-08-11 Common Stock 870 870 D Stock Options (Right to Buy) 2.19 2022-08-08 4 A 0 816 A 2030-08-12 Common Stock 816 816 D Stock Options (Right to Buy) 2.20 2022-08-08 4 A 0 358 A 2030-08-13 Common Stock 358 358 D Stock Options (Right to Buy) 2.21 2022-08-08 4 A 0 178 A 2030-08-14 Common Stock 178 178 D Stock Options (Right to Buy) 2.20 2022-08-08 4 A 0 298 A 2030-08-17 Common Stock 298 298 D Stock Options (Right to Buy) 2.24 2022-08-08 4 A 0 176 A 2030-08-18 Common Stock 176 176 D Stock Options (Right to Buy) 2.17 2022-08-08 4 A 0 364 A 2030-08-19 Common Stock 364 364 D Stock Options (Right to Buy) 2.16 2022-08-08 4 A 0 369 A 2030-08-20 Common Stock 369 369 D Stock Options (Right to Buy) 2.17 2022-08-08 4 A 0 183 A 2030-08-21 Common Stock 183 183 D Stock Options (Right to Buy) 2.15 2022-08-08 4 A 0 117 A 2030-08-25 Common Stock 117 117 D Stock Options (Right to Buy) 2.19 2022-08-08 4 A 0 230 A 2030-08-26 Common Stock 230 230 D Stock Options (Right to Buy) 2.15 2022-08-08 4 A 0 941 A 2030-08-27 Common Stock 941 941 D Stock Options (Right to Buy) 2.09 2022-08-08 4 A 0 548 A 2030-08-28 Common Stock 548 548 D Stock Options (Right to Buy) 2.08 2022-08-08 4 A 0 181 A 2030-08-31 Common Stock 181 181 D Stock Options (Right to Buy) 2.08 2022-08-08 4 A 0 4182 A 2030-09-01 Common Stock 4182 4182 D Stock Options (Right to Buy) 1.94 2022-08-08 4 A 0 57538 A 2029-09-12 Common Stock 57538 57538 D Stock Options (Right to Buy) 2.17 2022-08-08 4 A 0 68698 A 2029-11-27 Common Stock 68698 68698 D Represents tandem awards granted by Fortress Transportation and Infrastructure Investors LLC ("FTAI") that have been converted into tandem awards of the Issuer in connection with the spin-off of the Issuer from FTAI (the "Spin-off"). The exercise price was determined based on the five-day volume weighted average price of each of the Issuer and FTAI following the closing of the Spin-off, which five-day trading period ended on August 8, 2022. Tandem awards are options that correspond on a one-to-one basis with options held by FIG LLC, the Issuer's manager (or an affiliate of the Issuer's manager), such that exercise by the recipient of the tandem award would result in the corresponding option held by the manager being cancelled. (Continued in Footnote 3) Upon the grant of options to the manager (or an affiliate), such options are fully vested and become exercisable over a 30-month period (the "Total Exercisability Period") in monthly installments beginning on the first of each month following the month in which the options were granted. When tandem awards are granted with respect to manager options, the manager options become exercisable in monthly installments over a portion of the Total Exercisability Period equal to 30 months, minus the product of (i) the ratio of manager options not subject to corresponding tandem awards to the total number of related manager options (including the manager options subject to such tandem awards) multiplied by (ii) 30 (such period, the "Manager Exercisability Period"). Following the Manager Exercisability Period, the tandem awards vest in generally monthly installments over the remainder of the Total Exercisability Period and become exercisable only at the end of the Total Exercisability Period. Represents the expiration date of the related manager option. In general, the expiration date of the tandem award occurs prior to the expiration date of the related manager option. Due to SEC row limitations, this Form 4 is filed in two parts. This is Part 1 of 2. /s/ BoHee Yoon, as Attorney-in-Fact 2022-08-10