Cheniere Energy, Inc. · NYSE:LNG
Cheniere Energy — Q3 2026 Earnings Presentation
22 slides from Cheniere Energy's earnings presentation, Oct 29, 2026
Slide 1: Cheniere Energy, Inc. Third Quarter 2026
Cheniere Energy, Inc. Third Quarter 2026 October 29, 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 Chairman, President and Chief Executive Officer Commercial Update Anatol Feygin Executive Vice President and Chief Commercial Officer Financial Review Zach Davis Executive Vice Presid
Slide 4: Operating and Financial Highlights
Operating and Financial Highlights Jack Fusco, Chairman, President and CEO
Slide 5: Third Quarter 2026 Highlights & 2026 Guidance
Third Quarter 2026 Highlights & 2026 Guidance Consolidated Adjusted EBITDA Raising Full Year 2026 Financial Guidance Prior FY 2026 Revised FY 2026 $1,900 ($ billions, except per unit data) $1,608 Consolidated Adjusted EBITDA $7.90 - $8.40 $8.75 - $9.25 Distributable Cash Flow $5.30 - $5.80 $6.05 - $
Slide 6: Advancing Cheniere Platform to up to ~100 MTPA
Advancing Cheniere Platform to up to ~100 MTPA Midscale Trains 8 & 9 SPL Expansion Project CCL Expansion Project Commercial Commercial EPC Contract EPC Contract ~5 MTPA Under Construction1 Up to ~20 MTPA in Development1 Up to ~24 MTPA in Development1 Financing Financing ▪ Expected Substantial Comple
Slide 7: Commercial Update
Commercial Update Anatol Feygin, EVP and CCO
Slide 8: Ongoing Supply Disruption Exposes Market Vulnerabilities
Ongoing Supply Disruption Exposes Market Vulnerabilities SoH Transits Remain Well Below Pre-War Levels Disruption Erases 2026 LNG Supply Growth Disruption Reprices the LNG Forward Curves SoH Weekly Transits Monthly Change in Exports YoY Global Gas Prices / Forward Curve $/MMBtu Dashed lines = August
Slide 9: Persistent Market Tightness Underscores Need for LNG Supply Growth
Persistent Market Tightness Underscores Need for LNG Supply Growth Low Storage Levels Increase Europe’s LNG Demand Global LNG Supply Growth Resumes from 2028 Even Emerging Asian Demand Outlook Remains Strong Amid Increased Competition if SoH Remains Constrained Estimated Demand Growth 2025-2040 EU &
Slide 10: Financial Review
Financial Review Zach Davis, EVP and CFO
Slide 11: Third Quarter 2026 Financial Highlights
Third Quarter 2026 Financial Highlights Summary Results Key 3Q 2026 Financial Updates ($ millions, except per share and LNG data) 3Q 2026 3Q 2025 9M 2026 9M 2025 ✓ Deployed ~$1.5 billion of equity cash flows under Capital Allocation plan ▪ Returned ~$846 million to shareholders Revenues $6,173 $4,44
Slide 12: Full Year 2026 Guidance & Initial 2027 Production Outlook
Full Year 2026 Guidance & Initial 2027 Production Outlook Full Year 2026 Financial Guidance Drivers of Today’s Upward Revision ($ billions, except per unit data) February Guidance May Guidance August Guidance Revised FY 2026 ✓ Improved margin capture & outlook for remainder of 2026 Consolidated Adju
Slide 13: Cheniere Energy, Inc. Third Quarter 2026
Cheniere Energy, Inc. Third Quarter 2026 October 29, 2026
Slide 14: Appendix
Append ix CHENIERE
Slide 15: Cheniere LNG Exports
Cheniere LNG Exports ~5,120 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 2022 2023 2024 2025 2026 Europe Asia Latin America MENA Cheniere Destinations Source: Cheniere Research. 15 N
Slide 16: 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 in operation in operation ~1,560 cargoes produced & exported ~3,560 cargoes produced & exported ~5 MTPA under construction Up to ~20 MT
Slide 17: 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 18: Cheniere 3Q 2026 Debt Summary
Cheniere 3Q 2026 Debt Summary Cash Balance: ~$1.5B1 Cheniere Energy, Inc. Cheniere Energy, Inc. $1.5B Notes due 2028 (4.625%) (NYSE: LNG) $1.5B Notes due 2034 (5.650%) $1.0B Notes due 2036 (5.200%) $0.75B Notes due 2056 (6.000%) Cheniere Corpus Christi Holdings, LLC $1.75B Senior Unsecured Revolving
Slide 19: 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 20: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures 20
Slide 21: Reconciliation to Non-GAAP Measures (Continued)
Reconciliation to Non-GAAP Measures (Continued) Regulation G Reconciliations This presentation contains non-GAAP financial measures. Consolidated Adjusted EBITDA, Adjusted Net Income, Distributable Cash Flow, Distributable Cash Flow per Share, and Distributable Cash Flow per Unit are non-GAAP financ
Slide 22: Investor Relations Contacts
Investor Relations Contacts Randy Bhatia Vice President, Investor Relations and Communications – (713) 375-5479, [email protected] Frances Smith Director, Investor Relations – (713) 375-5753, [email protected] John Naumovski Lead Analyst, Investor Relations – (713) 375-5087, john.na