Cheniere Energy: Second Quarter 2025 Financial Results

Cheniere Energy: Second Quarter 2025 Financial Results

• 1. Cheniere Energy, Inc. Second Quarter 2025 August 7, 2025

• 2. Forward-Looking Statements This presentation contains certain statements that are, or may be deemed to be, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical or present facts or conditions, included or incorporated by reference herein are “forwardlooking statements.” Included among “forward-looking statements” are, among other things: • statements regarding the ability of Cheniere Energy Partners, L.P. to pay or increase distributions to its unitholders or Cheniere Energy, Inc. to pay or increase dividends to its shareholders or participate in share or unit buybacks; • statements regarding Cheniere Energy, Inc.’s or Cheniere Energy Partners, L.P.’s expected receipt of cash distributions from their respective subsidiaries; • statements that Cheniere Energy Partners, L.P. expects to commence or complete construction of its proposed liquefied natural gas (“LNG”) terminals, liquefaction facilities, pipeline facilities or other projects, or any expansions or portions thereof, by certain dates or at all; • statements that Cheniere Energy, Inc. expects to commence or complete construction of its proposed LNG terminals, liquefaction facilities, pipeline facilities or other projects, or any expansions or portions thereof, by certain dates or at all; • statements regarding future levels of domestic and international natural gas production, supply or consumption or future levels of LNG imports into or exports from North America and other countries worldwide, or purchases of natural gas, regardless of the source of such information, or the transportation or other infrastructure, or demand for and prices related to natural gas, LNG or other hydrocarbon products; • statements regarding any financing transactions or arrangements, or ability to enter into such transactions; • statements relating to Cheniere’s capital deployment, including intent, ability, extent, and timing of capital expenditures, debt repayment, dividends, share repurchases and execution on the capital allocation plan; • statements regarding our future sources of liquidity and cash requirements; • statements relating to the construction of our proposed liquefaction facilities and natural gas liquefaction trains (“Trains”) and the construction of our pipelines, including statements concerning the engagement of any engineering, procurement and construction ("EPC") contractor or other contractor and the anticipated terms and provisions of any agreement with any EPC or other contractor, and anticipated costs related thereto; • statements regarding any agreement to be entered into or performed substantially in the future, including any revenues anticipated to be received and the anticipated timing thereof, and statements regarding the amounts of total LNG regasification, natural gas, liquefaction or storage capacities that are, or may become, subject to contracts; • statements regarding counterparties to our commercial contracts, construction contracts and other contracts; • statements regarding our planned development and construction of additional Trains or pipelines, including the financing of such Trains or pipelines; • statements that our Trains, when completed, will have certain characteristics, including amounts of liquefaction capacities; • statements regarding our business strategy, our strengths, our business and operation plans or any other plans, forecasts, projections or objectives, including anticipated revenues, capital expenditures, maintenance and operating costs, free cash flow, run rate SG&A estimates, cash flows, EBITDA, Consolidated Adjusted EBITDA, distributable cash flow, distributable cash flow per share and unit, deconsolidated debt outstanding, and deconsolidated contracted EBITDA, any or all of which are subject to change; • statements regarding projections of revenues, expenses, earnings or losses, working capital or other financial items; • statements relating to our goals, commitments and strategies in relation to environmental matters; • statements regarding legislative, governmental, regulatory, administrative or other public body actions, approvals, requirements, permits, applications, filings, investigations, proceedings or decisions; • statements regarding our anticipated LNG and natural gas marketing activities; and • any other statements that relate to non-historical or future information. These forward-looking statements are often identified by the use of terms and phrases such as “achieve,” “anticipate,” “believe,” “contemplate,” “continue,” “could,” “develop,” “estimate,” “example,” “expect,” “forecast,” “goals,” ”guidance,” “intend,” “may,” “opportunities,” “plan,” “potential,” “predict,” “project,” “propose,” “pursue,” “should,” “subject to,” “strategy,” “target,” “will,” and similar terms and phrases, or by use of future tense. Although we believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in “Risk Factors” in the Cheniere Energy, Inc. and Cheniere Energy Partners, L.P. Annual Reports on Form 10-K filed with the SEC on February 20, 2025 and Quarterly Reports on Form 10-Q filed with the SEC on May 8, 2025, which are incorporated by reference into this presentation. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these ”Risk Factors.” These forward-looking statements are made as of the date of this presentation, and other than as required by law, we undertake no obligation to update or revise any forward-looking statement or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise. Reconciliation to U.S. GAAP Financial Information The following presentation includes certain “non-GAAP financial measures” as defined in Regulation G under the Securities Exchange Act of 1934, as amended. Schedules are included in the appendix hereto that reconcile the non-GAAP financial measures included in the following presentation to the most directly comparable financial measures calculated and presented in accordance with U.S. GAAP. Safe Harbor Statements 2

• 3. Agenda 3 Introduction Randy Bhatia Vice President, Investor Relations and Communications Financial Review Zach Davis Executive Vice President and Chief Financial Officer Q & A Company Highlights Jack Fusco President and Chief Executive Officer Commercial Update Anatol Feygin Executive Vice President and Chief Commercial Officer

• 4. Operating and Financial Highlights Jack Fusco, President and CEO

• 5. Second Quarter 2025 Highlights & Full Year 2025 Guidance 5 Consolidated Adjusted EBITDA Distributable Cash Flow 2Q 2025 Capital Allocation Progress Net Income $880 $1,626 2Q 2024 2Q 2025 $1,322 $1,416 2Q 2024 2Q 2025 ~$700 ~$920 2Q 2024 2Q 2025 Raising & Tightening Financial Guidance Commercial Progress Note: $ in millions unless otherwise noted. Net income as used herein refers to net income attributable to Cheniere on our Consolidated Statement of Operations. Consolidated Adjusted EBITDA and Distributable Cash Flow are non-GAAP measures. A definition of these non-GAAP measures and a reconciliation to Net income attributable to Cheniere, the most comparable U.S. GAAP measure, is included in the appendix. 1. Forecast as of June 24, 2025 and subject to change based upon, among other things, changes in commodity prices over time. 2. Subject to declaration by Board of Directors, plan to raise quarterly dividend to $0.555 per common share for 3Q 2025. ✓ ~$1.3 billion deployed in 2Q 2025 ✓ ~1.4 million shares repurchased for ~$306 million ✓ <220 million shares outstanding as of August 1, 2025 ✓ $0.500/sh dividends declared for 2Q 2025 ✓ Announced 3Q’25 increase to dividend of >10%2 ✓ ~$0.9 billion capex funded towards future growth ✓ Positive FID of Midscale Trains 8&9 & Debottlenecking project announced in June 2025 ✓ Updated forecast of >$25 billion of available cash1through 2030 to reach >$25/sh of run-rate DCF Operational Excellence ($ billions, except per unit data) Consolidated Adjusted EBITDA $6.5 - $7.0 $6.6 - $7.0 Distributable Cash Flow $4.1 - $4.6 $4.4 - $4.8 CQP Distribution per Unit $3.25 - $3.35 $3.25 - $3.35 Prior FY 2025 FY 2025 ✓ 550 TBtu LNG loaded and 154 cargoes exported ✓ CCL Stage 3 Train 2 Substantial Completion in August ✓ Successful completion of large-scale maintenance turnaround for Trains 3 & 4 at Sabine Pass ✓ Optimized planned maintenance schedule at Corpus Christi, accelerating maintenance activities from 3Q to 2Q ✓ Daily LNG production record at Corpus Christi achieved in July ✓ 3,000th LNG cargo produced & loaded at Sabine Pass in July ✓ Completed 500th vessel charter in July ✓ ~1.0 MTPA FOB from 2029 through 2050 ✓ ~0.85 MTPA IPM for 15 years beginning in ~2030

• 6. Corpus Christi Growth Update 6 Note: Subject to permitting, commercial, financing requirements. 1. CCL Stage 3 Project completion percentage as of June 30, 2025 and reflects: engineering 98.9% complete, procurement 99.8% complete, subcontract work 91.6% complete and construction 64.9% complete. 2. Inclusive of estimated debottlenecking opportunities. 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 FID of Midscale Trains 8&9 and Debottlenecking project announced in June 2025 – Advantaged brownfield expansion of ~5 MTPA with no need for additional berths, tanks, or pipelines Unveiling CCL Stage 4 ✓ Pre-filing process initiated in July 2025 ✓ Expected peak production capacity of up to ~24 MTPA2 ✓ Includes four large-scale trains, two tanks, a marine berth and other supporting infrastructure ✓ Adjacent to existing CCL trains ✓ Corpus Christi Pipeline Expansion Project to support feedgas needs CCL Stage 3 & CCL Midscale Trains 8&9 CCL Stage 4

• 7. Commercial Update Anatol Feygin, EVP and CCO

• 8. Global LNG Markets Prepare for Growth 8 Source: Cheniere Research, S&P Platts, Kpler. 1. LNG Capacity growth based on Q2 2025 Cheniere Research estimates. Global Gas Price Benchmarks Have Moderated TTF & JKM Prices 2024 – 2025 Global LNG Imports Reach Record Highs in 2025 Global LNG Imports 2024 – 2025 Growth in Liquefaction Capacity Gains Momentum1 Global Liquefaction Capacity 2024 – 2026 15 20 25 30 35 40 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MT 5-Yr Range 2025 2024 476.2 45.1 42.8 87.8 564.1 400 450 500 550 600 2024 2025 2026 Total MTPA US Qatar Canada Other $0 $5 $10 $15 $20 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec JKM-TTF TTF 2024 TTF 2025 JKM 2024 JKM 2025 $/MMBtu Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

• 9. Europe LNG Imports Up 25% YoY in 1H 2025 9 Source: Cheniere Research, Kpler, Commodity Essentials, GIE. 1. Europe LNG imports include Turkey. 2. European gas demand and power generation include data from Italy, Spain, United Kingdom, Germany, France and the Netherlands. 3. Q2 2025 and Q2 2024 data are through May. Europe1 LNG Imports Remain Robust EU Gas Storage Level YoY Deficit Narrows 0 2 4 6 8 10 12 14 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MT 5-Yr Range 2025 2024 European Gas Demand Growth in Key Sectors2 1H 2025 vs. 1H 2024 16 18 20 22 24 26 28 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec MT 5-Yr Range 2025 2024 Asia LNG Imports Remain Subdued -1.5 -0.5 0.5 1.5 2.5 3.5 -4 -2 0 2 4 6 Jan-23 May-23 Sep-23 Jan-24 May-24 Sep-24 Jan-25 May-25 Bcm MT Domestic Production Piped Imports LNG Imports Real Gas Demand Lower Gas Demand Reduces LNG Imports to China3 Gas Supply & Demand YoY Variance 16% 2% -2% -10% -5% 0% 5% 10% 15% 20% -2 0 2 4 Power LDC Other Industrial Bcm (Bars) % (Dots) -3.0 -2.0 -1.0 0.0 1.0 2.0 3.0 Jan-24 Mar-24 May-24 Jul-24 Sep-24 Nov-24 Jan-25 Mar-25 May-25 TWh Coal Oil Gas Nuclear Renewables Hydro Increased Gas-Fired Power Demand in Taiwan3 Power Generation by Fuel YoY Variance 0 20 40 60 80 100 0 20 40 60 80 100 % Full Bcm 5-Yr Range 5-Yr Average 2024 2023 2022 2021 2025 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

• 10. Asia Set to Lead LNG Demand Growth 10 Drivers of Commercial Momentum in Asia Enabling cleaner power generation Preparing for growth and resiliency Diversifying supply sources Positioning for more flexibility Supporting industry expansion 0 5 10 15 20 25 30 35 MTPA US Mexico Qatar Portfolio Russia RoW Annual Average: 28.0 MTPA Annual Average: 12.2 MTPA Long-Term Contracts2 Signed by Asian End Users By Supply Source Preparing for electrification and AI Asian Regas Capacity1 Outlook 2030 Snapshot 0 100 200 300 400 500 JKT Europe China Other Other Asia MTPA Operational Proposed Under Construction Source: Cheniere Research, Wood Mackenzie. 1. Regas capacity based on Wood Mackenzie’s Q2 outlook. Proposed category includes approved. 2. Contracts tenor of 5 year or longer. To avoid potential double counting, the chart excludes contracts signed by IOCs / portfolio players as purchasers, even if destination region is thought to be Asia.

• 11. Financial Review Zach Davis, EVP and CFO

• 12. Second Quarter 2025 Financial Highlights 12 Summary Results ✓ Repurchased ~1.4 million shares of common stock for ~$306 million ✓ Shares outstanding currently <220 million as of August 1, 2025 ✓ Paid quarterly dividend of $0.500/share for 1Q’25 and declared quarterly dividend of $0.500/share for 2Q’25 ✓ Increased and extended committed capital allocation targets, including plans to increase 3Q’25 dividend >10% to $2.22/share annualized4 ✓ Issued $1.0 billion of 5.550% Senior Notes due 2035 at CQP to help retire $1.0 billion of 5.875% Senior Secured Notes due 2026 at SPL in July ✓ S&P updated CQP’s unsecured credit rating to BBB from BBB- in June ✓ Refinanced CEI’s $1.25 billion revolving credit facility in August, extending maturity into 2030 ✓ Announced updated company outlook, including expected >$25 billion of available cash5through 2030 to reach >$25/share of run-rate Distributable Cash Flow Key 2Q 2025 and Recent Financial Transactions and Updates ($ millions, except per share and LNG data) 2Q 2025 2Q 2024 1H 2025 1H 2024 Revenues $4,641 $3,251 $10,085 $7,504 Consolidated Adjusted EBITDA $1,416 $1,322 $3,288 $3,095 Distributable Cash Flow ~$920 ~$700 ~$2,190 ~$1,860 Net Income1 $1,626 $880 $1,979 $1,382 LNG Exported LNG Volumes Exported (TBtu) 2 550 553 1,159 1,155 LNG Cargoes Exported 154 155 322 321 LNG Volumes Recognized in Income (TBtu) 3 LNG Volumes from Liquefaction Projects 550 552 1,159 1,160 Third-Party LNG Volumes 8 ― 15 11 Capital Allocation Plan Progress $300MM of Long-Term Debt Repaid / Redeemed >$650MM of Shares Repurchased $1.00/sh of Dividends Declared >$1.4B of Growth Capex 1H 2025 Funded Note: Consolidated Adjusted EBITDA and Distributable Cash Flow are non-GAAP measures. A definition of these non-GAAP measures and a reconciliation to Net income attributable to Cheniere, the most comparable U.S. GAAP measure, is included in the appendix. 1. Reported as Net income attributable to Cheniere on our Consolidated Statement of Operations. 2. 1H 2025 includes approximately 6 TBtu of commissioning volumes exported in the periods. There were no commissioning volumes exported in 2Q 2025. 3. 1H 2025 includes approximately 7 TBtu of net volumes in-transit before and after the periods. Volumes in-transit before and after 2Q 2025 net to zero TBtu. 4. Subject to declaration by Board of Directors. 5. Forecast as of June 24, 2025 and subject to change based upon, among other things, changes in commodity prices over time. ~$2.6 Billion Deployed Under Capital Allocation Plan in 1H 2025

• 13. 2024 2025E - Forecast Commissioning Volumes - Long-Term Contracts - Forward-Sold Spot Volumes Unsold Spot Capacity 13 Full Year 2025 Financial Guidance Note: Consolidated Adjusted EBITDA and Distributable Cash Flow are non-GAAP measures. A definition of these non-GAAP measures and a reconciliation to Net income attributable to Cheniere, the most comparable U.S. GAAP measure, is included in the appendix. Raising & Tightening Full Year 2025 Guidance 2025 Key Drivers ✓ ~47-48 MT of expected production, with >46-47 MT after commissioning volumes ✓ CCL Stage 3 Train 3 expected to reach Substantial Completion in 4Q 2025 ✓ <0.5 MT or <25 TBtu remains unsold with ~3.5-4.0 MT already sold into spot market, up ~1 MT since last quarter ✓ Forecast $1 change in market margin will impact Consolidated Adjusted EBITDA by <$25 million for the full year ✓ Timing and ramp-up of CCL Stage 3 ✓ Optimization upstream & downstream ✓ Timing of year end cargoes ✓ IRS guidance on CAMT & One Big Beautiful Bill Act ✓ Immaterial expected impact from tariffs ✓ Volatility in international gas prices ✓ Reduction of spot capacity during year 2025 LNG Volume Guidance CCL Trains 1-3 SPL Trains 1-6 ~45 MT ~47-48 MT <1 MT ~43 MT ~3.5-4.0 MT <0.5 MT <25 TBtu Unsold LNG Volumes ($ billions, except per unit data) Prior FY 2025 FY 2025 Consolidated Adjusted EBITDA $6.5 - $7.0 $6.6 - $7.0 Distributable Cash Flow $4.1 - $4.6 $4.4 - $4.8 CQP Distribution per Unit $3.25 - $3.35 $3.25 - $3.35

• 14. Cheniere Energy, Inc. Second Quarter 2025 August 7, 2025

• 15. Appendix

• 16. Cheniere LNG Exports 16 Cheniere Destinations Cheniere LNG Exports by Destination ~4,220 Cargoes Exported from our Liquefaction Projects Source: Cheniere Research. Note: Cumulative cargoes as of August 1, 2025. MENA – Middle East & North Africa 0 2 4 6 8 10 12 14 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 MT Europe Asia Latin America MENA Africa (North Africa excl.)

• 17. Industry Leading U.S. LNG Export Platform 17 Corpus Christi LNG Terminal >18 MTPA total production capacity in operation >1,190 cargoes produced & exported >12 MTPA under construction Up to ~24 MTPA expansion in development1 Sabine Pass Liquefaction >30 MTPA total production capacity in operation ~3,030 cargoes produced & exported Up to ~20 MTPA expansion in development1 Note: Cumulative cargoes of August 1, 2025. All capacity figures reflect estimated debottlenecking potential. Potential future growth subject to permitting, commercial and financial requirements. 1. Reflective of total expected peak production capacity and inclusive of estimated debottlenecking potential. In Operation Under Construction Total Expected Production In Operation or Under Construction Potential Future Growth Total Production Inclusive of Potential Future Growth ~48 - ~50 >12 ~60 - ~63 >40 >100 Cheniere Liquefaction Capacity (in MTPA) CCL Trains 1-3 CCL Midscale Trains 1-2 SPL Trains 1-6 CCL Midscale Trains 3-9 + Debottlenecking CCL Stage 4 SPL Expansion Project

• 18. 18 Cheniere’s Balanced Capital Allocation Philosophy Cash Flow Visibility Capital Management Long-Term Value Creation ✓ Best-in-class operations and safety at the foundation ✓ Unmatched contracted portfolio ensures cash flow resiliency ✓ Balance sheet management increases debt capacity for future growth ✓ Dividend and payout ratio strategy enables future financial flexibility ✓ Brownfield growth paired with share repurchases maximize shareholder returns ✓ Growth always measured against returns embedded in LNG stock Operational Excellence + Relentless Focus on Safety Long-Term Take-or-Pay Style Fixed Fee Cash Flows Investment Grade Balance Sheet Sustainable Dividend Organic Growth Share Repurchases Cash Flow Visibility and Capital Management Core to Enabling Long-Term Value Creation

• 19. Cheniere Pro Forma 2Q 2025 Debt Summary 19 Publicly Traded Equity Operating Entity Non-Operating Entity Cheniere Energy, Inc. (NYSE: LNG) Cheniere Energy Partners, L.P. (NYSE: CQP) Sabine Pass LNG Sabine Pass Liquefaction Cheniere Creole Trail Pipeline Cheniere Corpus Christi Holdings Corpus Christi Liquefaction CQP GP (& IDRs) Cheniere Marketing Cheniere Corpus Christi Pipeline Sabine Pass Liquefaction, LLC $0.5B Notes due 2026 (5.875%)5 $1.5B Notes due 2027 (5.000%) $1.35B Notes due 2028 (4.200%) $2.0B Notes due 2030 (4.500%) ~$1.78B Notes due 20376 $1.0B Senior Secured Revolving Credit Facility due 2028 Cheniere Energy Partners, L.P. $1.5B Notes due 2029 (4.500%) $1.5B Notes due 2031 (4.000%) $1.2B Notes due 2032 (3.250%) $1.4B Notes due 2033 (5.950%) $1.2B Notes due 2034 (5.750%) $1.0B Notes due 2035 (5.550%)5 $1.0B Senior Unsecured Revolving Credit Facility due 2028 Cash Balance: ~$0.1B1 Total Consolidated Debt Outstanding7: ~$22.8 Billion Cheniere Energy, Inc. $1.5B Notes due 2028 (4.625%) $1.5B Notes due 2034 (5.650%) $1.25B Unsecured Revolving Credit Facility due 20302 Cash Balance: ~$1.9B1 Cheniere Corpus Christi Holdings, LLC ~$1.20B Notes due 2027 (5.125%) ~$1.13B Notes due 2029 (3.700%) ~$2.54B Notes due 20393 $1.5B Working Capital Facility due 2027 ~$3.3B Term Loan Credit Facility4 Note: This organizational chart is provided for illustrative purposes only, is not and does not purport to be a complete organizational chart of Cheniere. Total commitments for Term Loan, Credit, and Working Capital facilities are shown above and are inclusive of undrawn balances. 1. Total cash balance, inclusive of $0.3 billion of restricted cash, as of June 30, 2025. LNG balance does not include total cash of $0.1 billion, inclusive of $0.04 billion of restricted cash, held by CQP. Cash balances not pro forma for partial redemption of SPL 2026 Notes. 2. Pro forma for August 2025 amendment and restatement. 3. Includes 4 separate tranches of notes reflecting a weighted-average interest rate of 3.788%. 4. Matures the earlier of June 2029 or two years after substantial completion of the last train of CCL Stage 3. 5. Reflects pro forma balance. In June, CQP issued $1.0B of new 2035 Notes, and in July, SPL redeemed $1.0B aggregate principal amount outstanding of its 2026 Notes with the net proceeds from the CQP 2035 notes and cash on hand. 6. Includes 8 separate tranches of notes reflecting a weighted-average interest rate of 4.746%. 7. Reflects total debt inclusive of current portion, before unamortized discount, debt issuance costs and cash and cash equivalents. See Note 8 in the Cheniere Energy, Inc. Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, filed with the Securities and Exchange Commission.

• 20. ($ billions, unless otherwise noted) 9 Trains + Stage 3 + CCL Midscale 8&9 + Debottlenecking (Full Year) 9 Trains + Stage 3 + CCL Midscale 8&9 + Debottlenecking + CCL Stage IV Phase 1 + SPL Stage V Phase 1 (Full Year) Liquefaction Production Capacity (MTPA) 60 – 63 71 – 75 CEI Consolidated Adjusted EBITDA $7.3 - $8.0 $8.6 - $9.4 Less: Distributions to CQP Non-Controlling Interest $(1.0) - $(1.1) $(1.1) - $(1.2) Less: CQP / SPL Interest Expense / Maintenance Capex / Other $(0.8) $(0.9) Less: CEI / CCH Interest Expense / Maintenance Capex / Income Taxes / Other $(1.4) - $(1.5) $(1.5) - $(1.6) CEI Distributable Cash Flow $4.1 - $4.7 $4.9 - $5.6 CQP Distributable Cash Flow Per Unit $4.00 - $4.25 $4.60 - $4.90 20 Run-Rate Guidance Update Assumes CMI Run-Rate of $2.50 - $3.00 / MMBtu Note: Numbers may not foot due to rounding. Additional assumptions include 80/20 profit-sharing tariff with SPL/CCH projects, $3.00 / MMBtu Henry Hub, effective cash tax rate as percentage of DCF of ~10% - 15%, 5.00% interest rates for refinancings, completion of $500 million of future debt paydown at CQP with no debt paydown thereafter, and CMI open capacity sales at marketing margin of $2.50 - $3.00 / MMBtu, indicative of current contracting levels on a long-term basis before lifting margin. Consolidated Adjusted EBITDA, Distributable Cash Flow, Distributable Cash Flow per Share and Distributable Cash Flow per Unit are non-GAAP measures. A definition of these non-GAAP measures is included in the appendix. We have not made any forecast of net income on a run rate basis, which would be the most directly comparable measure under GAAP, in part because net income includes the impact of derivative transactions, which cannot be determined at this time, and we are unable to reconcile differences between these run rate forecasts and net income.

• 21. 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 facilitate comparisons of operating performance across periods. These non-GAAP measures should be viewed as a supplement to and not a substitute for our U.S. GAAP measures of performance and the financial results calculated in accordance with U.S. GAAP and reconciliations from these results should be carefully evaluated. Consolidated Adjusted EBITDA is commonly used as a supplemental financial measure by our management and external users of our consolidated financial statements to assess the financial performance of our assets without regard to financing methods, capital structures, or historical cost basis. Consolidated Adjusted EBITDA is not intended to represent cash flows from operations or net income as defined by U.S. GAAP and is not necessarily comparable to similarly titled measures reported by other companies. We believe Consolidated Adjusted EBITDA provides relevant and useful information to management, investors and other users of our financial information in evaluating the effectiveness of our operating performance in a manner that is consistent with management’s evaluation of financial and operating performance. Consolidated Adjusted EBITDA is calculated by taking net income attributable to Cheniere before net income attributable to non-controlling interests, interest expense, net of capitalized interest, taxes, depreciation, amortization and accretion expense, and adjusting for the effects of certain non-cash items, other non-operating income or expense items, and other items not otherwise predictive or indicative of ongoing operating performance, including the effects of modification or extinguishment of debt, impairment expense, gain or loss on disposal of assets, changes in the fair value of our commodity and FX derivatives prior to contractual delivery or termination, and noncash compensation expense. The change in fair value of commodity and FX derivatives is considered in determining Consolidated Adjusted EBITDA given that the timing of recognizing gains and losses on these derivative contracts differs from the recognition of the related item economically hedged. We believe the exclusion of these items enables investors and other users of our financial information to assess our sequential and year-over-year performance and operating trends on a more comparable basis and is consistent with management’s own evaluation of performance. Distributable Cash Flow is defined as cash generated from the operations of Cheniere and its subsidiaries and adjusted for non-controlling interests. The Distributable Cash Flow of Cheniere’s subsidiaries is calculated by taking the subsidiaries’ EBITDA less interest expense, net of capitalized interest, taxes, maintenance capital expenditures and other non-operating income or expense items, and adjusting for the effect of certain non-cash items and other items not otherwise predictive or indicative of ongoing operating performance, including the effects of modification or extinguishment of debt, amortization of debt issue costs, premiums or discounts, impairment of equity method investment and deferred taxes. Cheniere’s Distributable Cash Flow includes 100% of the Distributable Cash Flow of Cheniere’s wholly-owned subsidiaries. For subsidiaries with non-controlling investors, our share of Distributable Cash Flow is calculated as the Distributable Cash Flow of the subsidiary reduced by the economic interest of the non-controlling investors as if 100% of the Distributable Cash Flow were distributed in order to reflect our ownership interests and our incentive distribution rights, if applicable. The Distributable Cash Flow attributable to non-controlling interests is calculated in the same method as Distributions to non-controlling interests as presented on Statements of Stockholders’ Equity. This amount may differ from the actual distributions paid to non-controlling investors by the subsidiary for a particular period. CQP Distributable Cash Flow is defined as CQP Adjusted EBITDA adjusted for taxes, maintenance capital expenditures, interest expense net of capitalized interest, and interest income. Distributable Cash Flow per Share and Distributable Cash Flow per Unit are calculated by dividing Distributable Cash Flow by the weighted average number of common shares or units outstanding. We believe Distributable Cash Flow is a useful performance measure for management, investors and other users of our financial information to evaluate our performance and to measure and estimate the ability of our assets to generate cash earnings after servicing our debt, paying cash taxes and expending sustaining capital, that could be considered for deployment by our Board of Directors pursuant to our capital allocation plan, such as by way of common stock dividends, stock repurchases, retirement of debt, or expansion capital expenditures. 1 Distributable Cash Flow is not intended to represent cash flows from operations or net income as defined by U.S. GAAP and is not necessarily comparable to similarly titled measures reported by other companies. Non-GAAP measures have limitations as an analytical tool and should not be considered in isolation or in lieu of an analysis of our results as reported under GAAP and should be evaluated only on a supplementary basis. Note: We have not made any forecast of net income on a run rate basis, which would be the most directly comparable financial measure under GAAP, in part because net income includes the impact of derivative transactions, which cannot be determined at this time, and we are unable to reconcile differences between run rate Consolidated Adjusted EBITDA and Distributable Cash Flow and income. 1 Capital spending for our business consists primarily of: • Maintenance capital expenditures. These expenditures include costs which qualify for capitalization that are required to sustain property, plant and equipment reliability and safety and to address environmental or other regulatory requirements rather than to generate incremental distributable cash flow; and • Expansion capital expenditures. These expenditures are undertaken primarily to generate incremental distributable cash flow and include investment in accretive organic growth, acquisition or construction of additional complementary assets to grow our business, along with expenditures to enhance the productivity and efficiency of our existing facilities. Reconciliation to Non-GAAP Measures 21

• 22. © 2024 Cheniere Energy, Inc. All Rights Reserved 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.naumovski@cheniere.com