Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q4 2022 Earnings Presentation
24 slides from Cheniere Energy's earnings presentation, Feb 23, 2023
Slide 1: Cheniere Energy, Inc. Fourth Quarter and Full Year 2022
Cheniere Energy, Inc. Fourth Quarter and Full Year 2022 February 23, 2023 NYSE American: LNG
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 that our Trains, when completed, will have certain characteristics, including amounts of liquefaction statements” within the meaning of Sect
Slide 3: Agenda
Agenda Introduction Randy Bhatia Vice President, Investor Relations 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 Chief Financial Offic
Slide 4: Operating and Financial Highlights
Operating and Financial Highlights Jack Fusco, President and CEO
Slide 5: Full Year 2022 Highlights and 2023 Guidance
Full Year 2022 Highlights and 2023 Guidance Consolidated Adjusted EBITDA Financial Guidance ($ billions, except per unit data) FY 2023 Above high end of latest guidance range Consolidated Adjusted EBITDA $8.0 - $8.5 $11,564 Distributable Cash Flow $5.5 - $6.0 $4,867 CQP Distribution per Unit $4.00 -
Slide 6: 2023 Strategic Priorities
2023 Strategic Priorities DELIVER ON FINANCIAL LEAD WITH ORGANIC ADVANCE ON ACTIONABLE GUIDANCE GROWTH CLIMATE INITIATIVES Maintain focus on reliability and safety throughout Corpus Christi Stage 3 under construction – 24.5% Continue to assess supply chain emissions through 2023 complete as of Janua
Slide 7: Sabine Pass Expansion Project
Sabine Pass Expansion Project Expected Total Production Expansion 3 liquefaction trains with expected production capacity of ~6.5 mtpa each 2 LNG storage tanks,Expected Totalof Production each with capacity 220,000m3 Capacity ~0.75 mtpa Boil-Off Gas Re-Liquefaction Unit Expected to benefit from exis
Slide 8: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 9: U.S. & Cheniere Led Global LNG Market Growth in 2022
U.S. & Cheniere Led Global LNG Market Growth in 2022 Changes in LNG Supply by Producer United States LNG Exports by Destination Global Gas & LNG Prices 2022 vs. 2021 $/MMBtu MT Middle East and North Africa ~70% of all US LNG in 2022 was MT 100 TTF 25 exported to Europe, rising from 7 Latin America 9
Slide 10: Europe and Asia Continued to Drive Global LNG Trade in 2022
Europe and Asia Continued to Drive Global LNG Trade in 2022 LNG Imports to Europe Russian Pipe vs. US LNG Imports to Europe(1) Power Generation(2) Variance 2022 vs. 2021 European LNG imports up 60% or 46 MT yoy in 2022 US LNG surpassed Russian piped gas supply to Europe for the Gas & coal burn incre
Slide 11: New Liquefaction Capacity Critical to Serve Growing Demand
New Liquefaction Capacity Critical to Serve Growing Demand LNG Exports from Legacy Projects(1) Regasification Capacity(2) Additions by 2030 Prospective New LNG Markets Declining output from legacy projects is contributing to Over 370 MT of regas capacity is under development globally, 9 new markets
Slide 12: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 13: Fourth Quarter and Full Year 2022 Financial Highlights
Fourth Quarter and Full Year 2022 Financial Highlights Summary Results Key Financial Transactions and Updates >$3 Billion Deployed Under Capital Allocation Plan in Q4 2022 ($ millions, except per share and LNG data) Q4 2022 Q4 2021 FY 2022 FY 2021 • Achieved investment grade ratings across Cheniere
Slide 14: Full Year 2023 Financial Guidance
Full Year 2023 Financial Guidance Full Year 2023 Guidance FY 2023 financial results subject to volatility of global vs. 9-Train Run- gas market prices & timing of cargoes scheduled to ($ billions, except per unit data) Rate Guidance be delivered year-end 2023 Consolidated Adjusted EBITDA $8.0 - $8.5
Slide 15: Cheniere Energy, Inc. Fourth Quarter and Full Year 2022
Cheniere Energy, Inc. Fourth Quarter and Full Year 2022 February 23, 2023 NYSE American: LNG
Slide 16: Appendix
Append ix CHENIERE
Slide 17: Cheniere LNG Exports
Cheniere LNG Exports ~2,650 Cargoes Exported from our Liquefaction Projects Cheniere LNG Exports by Destination MT 12 10 8 6 4 2 0 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 2020 2021 2022 Europe Asia Latin America MENA Cheniere Destinations Sources: Cheniere Research. 17 Note: Cumulative cargoes and volum
Slide 18: Industry Leading U.S. LNG Export Platform
Industry Leading U.S. LNG Export Platform Corpus Christi LNG Terminal Sabine Pass Liquefaction ~25+ mtpa Total Production Capacity ~30 mtpa Total Production Capacity Trains 1-3 operating, contracts with long-term buyers Trains 1-6 operating, most contracts with long-term commenced buyers commenced >
Slide 19: Liquefaction Platform Update
Liquefaction Platform Update Sabine Pass Liquefaction Corpus Christi Liquefaction Liquefaction Operations Growth Liquefaction Operations Stage 3 6 Trains in operation Substantial Completion of 3rd berth 3 Trains in operation 10+ mtpa brownfield expansion project under construction - ~24.5% ~1,990 ca
Slide 20: Cheniere Debt Summary as of December 31, 2022
Cheniere Debt Summary as of December 31, 2022 Cash Balance: ~$0.4B(1) Cheniere Energy, Inc. Cheniere Energy, Inc. $1.5B Senior Notes due 2028 (4.625%) (NYSE American: LNG) $1.25B Senior Secured Revolving Credit Facility due 2026 Cheniere Corpus Christi Holdings, LLC ~$0.50B Notes due 2024 (7.000%)(2
Slide 21: Run-Rate Guidance
Run-Rate Guidance Assumes CMI Run-Rate of $2.00 - $2.50 / MMBtu 9 Trains + Stage 3 + Midscale 8 & 9 + 9 Trains 9 Trains + Stage 3 Capital Return (Full Year) (Full Year) (Full Year) SPL T1-6 SPL T1-6 SPL T1-6 ($ bn, unless otherwise noted) CCL T1-3 CCL T1-3 + Stage 3 CCL T1-3 + Stage 3 + Midscale T8-
Slide 22: 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 23: Reconciliation to Non-GAAP Measures (continued)
Reconciliation to Non-GAAP Measures (continued) Regulation G Reconciliations (continued) Prior to 2022, we used an alternative definition for Distributable Cash Flow, which we believe no longer best reflect the consolidated distributable cash flow of each of our subsidiaries, including Cheniere Part
Slide 24: Investor Relations Contacts
Investor Relations Contacts Randy Bhatia Vice President, Investor Relations – (713) 375-5479, randy.bhatia@cheniere.com Frances Smith Manager, Investor Relations – (713) 375-5753, frances.smith@cheniere.com © 2021 Cheniere Energy, Inc. All Rights Reserved