Cheniere Energy Partners, Lp · NYSE:CQP
Cheniere Energy Partners, Lp — Q2 2025 Earnings Presentation
22 slides from Cheniere Energy Partners, Lp's earnings presentation, Aug 7, 2025
Slide 1: Cheniere Energy, Inc. Second Quarter 2025
Cheniere Energy, Inc. Second Quarter 2025 August 7, 2025
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: Second Quarter 2025 Highlights & Full Year 2025 Guidance
Second Quarter 2025 Highlights & Full Year 2025 Guidance Consolidated Adjusted EBITDA Raising & Tightening Financial Guidance Prior FY 2025 FY 2025 ($ billions, except per unit data) $1,322 $1,416 Consolidated Adjusted EBITDA $6.5 - $7.0 $6.6 - $7.0 Distributable Cash Flow $4.1 - $4.6 $4.4 - $4.8 2Q
Slide 6: Corpus Christi Growth Update
Corpus Christi Growth Update CCL Stage 3 and CCL Midscale Trains 8&9 Update ✓ CCL Stage 3 total project completion 86.7%1 – Substantial Completion of Train 2 achieved on August 6, 2025 – Continue to expect Substantial Completion of Train 3 and first LNG from Train 4 before year end 2025 ✓ Positive F
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Global LNG Markets Prepare for Growth
Global LNG Markets Prepare for Growth Global Gas Price Benchmarks Have Moderated Global LNG Imports Reach Record Highs in 2025 Growth in Liquefaction Capacity Gains Momentum1 TTF & JKM Prices 2024 – 2025 Global LNG Imports 2024 – 2025 Global Liquefaction Capacity 2024 – 2026 $/MMBtu MT MTPA JKM-TTF
Slide 9: Europe LNG Imports Up 25% YoY in 1H 2025
Europe LNG Imports Up 25% YoY in 1H 2025 Europe1 LNG Imports Remain Robust European Gas Demand Growth in Key Sectors2 EU Gas Storage Level YoY Deficit Narrows 1H 2025 vs. 1H 2024 MT Bcm (Bars) % (Dots) % Full Bcm 5-Yr Range 4 20% 100 14 2025 100 2024 16% 15% 12 80 80 10 2 10% 60 8 5-Yr Range 60 5% 5
Slide 10: Asia Set to Lead LNG Demand Growth
Asia Set to Lead LNG Demand Growth Drivers of Commercial Momentum in Asia Asian Regas Capacity1 Outlook Long-Term Contracts2 Signed by Asian End Users 2030 Snapshot By Supply Source MTPA MTPA 500 35 Preparing for growth and resiliency Operational US Mexico Qatar Portfolio Russia RoW Proposed Under C
Slide 11: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 12: Second Quarter 2025 Financial Highlights
Second Quarter 2025 Financial Highlights Summary Results Key 2Q 2025 and Recent Financial Transactions and Updates ($ millions, except per share and LNG data) 2Q 2025 2Q 2024 1H 2025 1H 2024 ✓ Repurchased ~1.4 million shares of common stock for ~$306 million ✓ Shares outstanding currently <220 milli
Slide 13: Raising & Tightening Full Year 2025 Guidance
Raising & Tightening Full Year 2025 Guidance Full Year 2025 Financial Guidance 2025 Key Drivers Prior FY 2025 FY 2025 ✓ Timing and ramp-up of CCL Stage 3 ($ billions, except per unit data) ✓ Optimization upstream & downstream Consolidated Adjusted EBITDA $6.5 - $7.0 $6.6 - $7.0 ✓ Timing of year end
Slide 14: Cheniere Energy, Inc. Second Quarter 2025
Cheniere Energy, Inc. Second Quarter 2025 August 7, 2025
Slide 15: Appendix
Append ix CHENIERE
Slide 16: Cheniere LNG Exports
Cheniere LNG Exports ~4,220 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 2020 2021 2022 2023 2024 2025 Europe Asia Latin America MENA Africa (North Africa excl.) Cheniere De
Slide 17: Industry Leading U.S. LNG Export Platform
Industry Leading U.S. LNG Export Platform Corpus Christi LNG Terminal Sabine Pass Liquefaction >18 MTPA total production capacity >30 MTPA total production capacity in operation in operation >1,190 cargoes produced & exported ~3,030 cargoes produced & exported >12 MTPA under construction Up to ~20 M
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 2Q 2025 Debt Summary
Cheniere Pro Forma 2Q 2025 Debt Summary Cash Balance: ~$1.9B1 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 20302 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 - $3.00 / MMBtu 9 Trains + Stage 3 + CCL Midscale 8&9 + 9 Trains + Stage 3 + Debottlenecking + CCL Midscale 8&9 + CCL Stage IV Phase 1 + Debottlenecking SPL Stage V Phase 1 ($ billions, unless otherwise noted) (Full Year) (Full Year) Liquefactio
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
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