Cheniere Energy : Presentation Q1 2023

Cheniere Energy, Inc.

First Quarter 2023

May 2, 2023

NYSE American: LNG

Safe Harbor Statements

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 "forward-looking 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 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 23, 2023, 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.

2

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 Officer

Q & A

3

Operating and Financial Highlights

Jack Fusco, President and CEO

First Quarter 2023 Highlights and FY 2023 Guidance Update

Consolidated Adjusted EBITDA

$3,153	$3,599
Q1 2022	Q1 2023

Raising Full Year 2023 Financial Guidance	Prior FY 2023			New FY 2023
($ billions, except per unit data)
Consolidated Adjusted EBITDA	$8.0	-	$8.5	$8.2	-	$8.7
Distributable Cash Flow	$5.5	-	$6.0	$5.7	-	$6.2
CQP Distribution per Unit	$4.00	-	$4.25	$4.00	-	$4.25

Distributable Cash Flow

~$2,500~$2,940

Q1 2022

Q1 2023

Net Income (Loss)

$5,434

($865)

Q1 2022

Q1 2023

Execution on Comprehensive Long-Term

Capital Allocation Plan

• ~$896 million of long-term debt reduction in Q1 2023
• ~3.1 million shares repurchased for ~$450 million
• $0.395/sh quarterly dividend paid in February 2023
• ~$550 million capex funded for CCL Stage 3
• In January, Cheniere achieved an investment grade rating of BBB- from Fitch
• In February, S&P upgraded SPL from BBB to BBB+

Quarterly Record - 167 Cargoes Exported

• Exported a record number of 167 cargoes (~603 TBtu) during the first quarter from our liquefaction platform

Disciplined Accretive Growth Across

Cheniere Platform

• CCL Stage 3 - 28.7% complete1

Engineering	Procurement	Subcontract Work	Construction
49.5%	41.8%	37.1%	3.4%

• CCL Midscale Trains 8 & 9 application filed with FERC
• SPL Expansion Project in pre-filing process with FERC
• Front End Engineering and Design (FEED) contract executed with Bechtel in April for the SPL Expansion Project

Energy Emissions Modeling & Data Lab (EEMDL)

Co-funded & sponsored multidisciplinary research & education initiative to provide reliable, science-based, transparent, measurement-informed GHG assessments by developing publicly available models & datasets

Note: $ in millions unless otherwise noted. Net income (loss) as used herein refers to Net income attributable to common stockholders on our Statement of Operations. Consolidated Adjusted EBITDA and Distributable Cash Flow

5 are non-GAAP measures. A definition of these non-GAAP measures and a reconciliation to Net income (loss) attributable to common stockholders, the most comparable U.S. GAAP measure, is included in the appendix.

1. CCL Stage 3 Project completion percentage as of March 31, 2023.