Cheniere Energy (LNG) investor relations material

Executive summary

• Achieved record operational and financial performance in Q2 2026, with consolidated adjusted EBITDA of $1.80 billion, net income of $3.07 billion, and distributable cash flow of ~$1.17 billion, driven by higher LNG exports and production reliability.

• Exported 184 LNG cargoes (672 TBtu) in Q2, a 20% year-over-year increase, supported by accelerated start-up of new trains and debottlenecking efforts.

• Raised full-year 2026 guidance for consolidated adjusted EBITDA to $7.90–$8.40 billion and distributable cash flow to $5.30–$5.80 billion, with the new low end above the previous high end.

• Advanced major growth projects, including substantial completion of Corpus Christi Stage 3 Train 6, commissioning of Train 7, and progress on Sabine Pass Expansion Phase 1.

• Returned over $666 million to shareholders through dividends and share repurchases in Q2 2026.

Financial highlights

• Q2 2026 revenues rose to $5.73 billion, up 24% year-over-year; consolidated adjusted EBITDA was $1.80 billion, and net income reached $3.07 billion, up 89% year-over-year.

• Distributable cash flow grew 27% to ~$1.17 billion; 184 LNG cargoes exported, up from 154 in Q2 2025.

• Dividend declared at $0.555 per share; total H1 2026 dividend payout ~$233 million.

• Repurchased 2.2 million shares in Q2 for $550 million; H1 buybacks total $1.1 billion for nearly 5 million shares.

• Cash and cash equivalents at June 30, 2026: $1.1 billion; total available liquidity: $7.5 billion.

Outlook and guidance

• Full-year 2026 consolidated adjusted EBITDA guidance raised to $7.90–$8.40 billion; distributable cash flow guidance increased to $5.30–$5.80 billion.

• Production forecast for 2026 increased to 53–54 million tonnes, up from 52–54 million tonnes.

• Less than 1 million tonnes of unsold open volumes remain for 2026; $1 change in market margins impacts EBITDA by less than $50 million.

• Maintaining $500 million guidance range due to market volatility, timing of train completions, and optimization activities.

• Expect to seek Board approval for annual dividend increase in Q3.