Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q3 2024 Earnings Presentation
23 slides from Cheniere Energy's earnings presentation, Oct 31, 2024
Slide 1: Cheniere Energy, Inc. Third Quarter 2024
Cheniere Energy, Inc. Third Quarter 2024 October 31, 2024
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 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: Third Quarter 2024 Highlights & Full Year 2024 Guidance
Third Quarter 2024 Highlights & Full Year 2024 Guidance Raising and Tightening Financial Guidance Consolidated Adjusted EBITDA Prior FY 2024 FY 2024 ($ billions, except per unit data) Consolidated Adjusted EBITDA $5.7 - $6.1 $6.0 - $6.3 $1,663 $1,483 Distributable Cash Flow $3.1 - $3.5 $3.4 - $3.7 3
Slide 6: Cheniere's Methane Intensity Target Builds Upon Climate Strategy
Cheniere’s Methane Intensity Target Builds Upon Climate Strategy Cheniere Establishes Methane Intensity Target ✓ Aims to maintain Scope 1 annual methane emissions intensity of 0.03% per tonne of LNG produced across SPL & CCL by 2027 ✓ Leverages data from Cheniere’s multi-scale emissions measurement
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Global LNG Market Remains Tight as Import Rise
Global LNG Market Remains Tight as Import Rise Global LNG Imports Reach New Highs for September TTF Rallies Amid Weather & Geopolitical Risks Asia Led 3Q Import Growth 2023 vs. 2024 Monthly Global LNG Imports TTF vs. JKM Prices LNG Import Variance YTD 2024 vs. YTD 2023 MT $/MMBtu MT 45 25 30 + 18.8
Slide 9: LNG Flows Shift from Europe to Asia
LNG Flows Shift from Europe to Asia Sustained Growth in Asian LNG Imports Asia LNG Imports Variance Middle East & North Africa Imports at Record Highs 3Q’24 vs. 3Q’23 MT China MT 29 5 Yr- Range 2024 2023 South Korea 2.0 5 Yr- Range 2024 2023 India 27 Japan Taiwan 1.5 25 Indonesia Malaysia 23 Singapo
Slide 10: Long-Term LNG Contracts Enable Security, Affordability & Flexibility
Long-Term LNG Contracts Enable Security, Affordability & Flexibility Russian Gas Flows To Europe at Risk of Further Cuts Risks to Egypt’s Supplies Could Further Tighten Market Liquefaction Output Consistent with Historic Levels2 Russian Pipeline Gas to Europe Since 20211 Egyptian Natural Gas Product
Slide 11: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 12: Third Quarter 2024 Financial Highlights
Third Quarter 2024 Financial Highlights Summary Results Key 3Q 2024 Financial Transactions and Updates ✓ Repurchased ~1.6 million shares of common stock for ~$282 million ($ millions, except per share and LNG data) 3Q 2024 3Q 2023 9M 2024 9M 2023 ✓ Shares outstanding currently <225 million Revenues
Slide 13: Increased 2024 Guidance and 2025 Outlook
Increased 2024 Guidance and 2025 Outlook Raising and Tightening 2024 Guidance Previous Revised ✓ Increased guidance driven by: ($ billions, except per unit data) − Portfolio optimization activities across Consolidated Adjusted EBITDA $5.7 - $6.1 $6.0 - $6.3 Cheniere platform − Higher production & ma
Slide 14: Cheniere Energy, Inc. Third Quarter 2024
Cheniere Energy, Inc. Third Quarter 2024 October 31, 2024
Slide 15: Appendix
Append ix CHENIERE
Slide 16: Cheniere LNG Exports
Cheniere LNG Exports ~3,720 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 2020 2021 2022 2023 2024 Europe Asia Latin America MENA Cheniere Destinations Sources: Cheniere Research. 16
Slide 17: 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 >1,600 Employees Trains 1-3 operating, long-term contracts commenced Trains 1-6 operating, long-term contracts commenced 6 Offices Wor
Slide 18: Liquefaction Platform Update
Liquefaction Platform Update Sabine Pass Liquefaction Corpus Christi Liquefaction Liquefaction Operations Growth Liquefaction Operations Stage 3 6 Trains in operation SPL Expansion Project in permitting 3 Trains in operation 10+ mtpa brownfield expansion process; FID anticipated in 2026 project unde
Slide 19: 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 20: Cheniere 3Q 2024 Debt Summary
Cheniere 3Q 2024 Debt Summary Cash Balance: ~$2.6B1 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 2026 Cheniere Corpus Christi Holdings, LLC ~$1.20B Notes due 2027 (5.125%) ~$1.13B No
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: Investor Relations Contacts
Investor Relations Contacts Randy Bhatia Vice President, Investor Relations – (713) 375-5479, randy.bhatia@cheniere.com Frances Smith Director, Investor Relations – (713) 375-5753, frances.smith@cheniere.com © 2024 Cheniere Energy, Inc. All Rights Reserved