Slide 1: Cheniere Energy, Inc. Fourth Quarter and Full Year 2025
Cheniere Energy, Inc. Fourth Quarter and Full Year 2025 February 26, 2026
Slide 2: Safe Harbor Statements
Safe Harbor Statements Forward-Looking Statements This presentation contains certain statements that are, or may be deemed to be, “forward-looking • statements regarding our planned development and construction of additional Trains or pipelines, including statements” within the meaning of Section 27
Slide 3: Agenda
Agenda Introduction Randy Bhatia Vice President, Investor Relations and Communications Company Highlights Jack Fusco President and Chief Executive Officer Commercial Update Anatol Feygin Executive Vice President and Chief Commercial Officer Financial Review Zach Davis Executive Vice President and Ch
Slide 4: Operating and Financial Highlights
Operating and Financial Highlights Jack Fusco, President and CEO
Slide 5: Fourth Quarter and Full Year 2025 Highlights & 2026 Guidance
Fourth Quarter and Full Year 2025 Highlights & 2026 Guidance Consolidated Adjusted EBITDA Full Year 2026 Financial Guidance +13% FY 2026 ($ billions, except per unit data) +30% Consolidated Adjusted EBITDA $6.75 - $7.25 $2,047 $6,155 $6,943 $1,577 Distributable Cash Flow $4.35 - $4.85 4Q 2024 4Q 202
Slide 6: Cheniere's Advantaged Brownfield Growth Platform
Cheniere’s Advantaged Brownfield Growth Platform CCL Stage 3 & Midscale Trains 8 & 9 SPL Expansion Project CCL Expansion Project Regulatory Regulatory Commercial Commercial EPC Contract EPC Contract ~15 MTPA In Operation or Under Construction Up to ~20 MTPA in Development3 Up to ~24 MTPA in Developm
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Global LNG Market Neared Inflection Point in 2025
Global LNG Market Neared Inflection Point in 2025 Global Prices Moderate from Historic Highs; Europe Imported Record Volumes of LNG, Global LNG Exports Hit Record High as LNG Remain Elevated on Geopolitics & Weather Once Again Pulling Cargoes From Asia Market Enters a Multi-Year Growth Cycle Global
Slide 9: Supply Additions Expected to Stimulate Asian Growth
Supply Additions Expected to Stimulate Asian Growth Growth in Asia LNG Demand Supported by Affordability of Supply Strong LNG Demand Forecast for 2026-2030 with Ample Regas Capacity Price Sensitive Asia Markets (Excl. JKT) LNG Demand Growth Across Price Cycles1 Forecast CAGR per Asia Region for 2026
Slide 10: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 11: Fourth Quarter and Full Year 2025 Financial Highlights
Fourth Quarter and Full Year 2025 Financial Highlights Summary Results Key 2025 Financial Updates 2024 2025 ($ millions, except per share and LNG data) 4Q Full Year 4Q Full Year ✓ Repurchased >12.1 million shares for ~$2.7 billion in 2025 Revenues $4,436 $15,703 $5,450 $19,976 ▪ Repurchased ~4.8 mil
Slide 12: Full Year 2026 Guidance
Full Year 2026 Guidance Full Year 2026 Financial Guidance 2026 Key Drivers ($ billions, except per unit data) FY 2026 ✓ Timing & ramp-up of CCL Stage 3 Trains 5 – 7 Consolidated Adjusted EBITDA $6.75 - $7.25 ✓ Upstream & downstream optimization activities ✓ Timing of year-end cargoes Distributable C
Slide 13: Capital Allocation Update: '20/20 Vision' Complete + New Targets
Capital Allocation Update: ‘20/20 Vision’ Complete + New Targets >$20 >$20 Completion of ‘20/20’ Vision Today’s Announcement >95% >$10B ~175 Million ~$30/Share >$20B >$20/Share Contracted Repurchase Shares Run-Rate from Authorization Outstanding Distributable Cash Deployed Since 2H 20221 Run-Rate
Slide 14: Cheniere Energy, Inc. Fourth Quarter and Full Year 2025
Cheniere Energy, Inc. Fourth Quarter and Full Year 2025 February 26, 2026
Slide 15: Appendix
Append ix CHENIERE
Slide 16: Cheniere LNG Exports
Cheniere LNG Exports >4,610 Cargoes Exported from our Liquefaction Projects Cheniere LNG Exports by Destination MT 14 12 10 8 6 4 2 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2020 2021 2022 2023 2024 2025 Europe Asia Latin America MENA Cheniere Destinations Source: Che
Slide 17: Industry Leading U.S. LNG Export Platform
Industry Leading U.S. LNG Export Platform Corpus Christi LNG Terminal Sabine Pass Liquefaction >21 MTPA total production capacity >30 MTPA total production capacity in operation in operation >1,340 cargoes produced & exported >3,270 cargoes produced & exported >9 MTPA under construction Up to ~20 MT
Slide 18: Cheniere's Balanced Capital Allocation Philosophy
Cheniere’s Balanced Capital Allocation Philosophy Operational Excellence + Relentless Focus on Safety Cash Flow Visibility ✓ Best-in-class operations and safety at the foundation ✓ Unmatched contracted portfolio ensures cash flow resiliency Long-Term Take-or-Pay Style Fixed Fee Cash Flows Investment
Slide 19: Cheniere Pro-Forma 4Q 2025 Debt Summary
Cheniere Pro-Forma 4Q 2025 Debt Summary Cash Balance: ~$1.4B1 Cheniere Energy, Inc. Cheniere Energy, Inc. $1.5B Notes due 2028 (4.625%) (NYSE: LNG) $1.5B Notes due 2034 (5.650%) $1.25B Unsecured Revolving Credit Facility due 2030 Cheniere Corpus Christi Holdings, LLC ~$1.20B Notes due 2027 (5.125%)
Slide 20: Run-Rate Guidance Update
Run-Rate Guidance Update Assumes CMI Run-Rate of $2.50 - $3.00 / MMBtu 9 Trains + Stage 3 + CCL Midscale 8 & 9 + 9 Trains + Stage 3 + Debottlenecking + CCL Midscale 8 & 9 + CCL Expansion Phase 1 + Debottlenecking SPL Expansion Phase 1 ($ billions, unless otherwise noted) (Full Year) (Full Year) Liqu
Slide 21: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures Regulation G Reconciliations This presentation contains non-GAAP financial measures. Consolidated Adjusted EBITDA, Distributable Cash Flow, Distributable Cash Flow per Share, and Distributable Cash Flow per Unit are non-GAAP financial measures that we use to facil
Slide 22: Investor Relations Contacts
Investor Relations Contacts Randy Bhatia Vice President, Investor Relations and Communications – (713) 375-5479, randy.bhatia@cheniere.com Frances Smith Director, Investor Relations – (713) 375-5753, frances.smith@cheniere.com John Naumovski Lead Analyst, Investor Relations – (713) 375-5087, john.na