Cheniere Energy, Inc.

NOTE 1—NATURE OF OPERATIONS AND BASIS OF PRESENTATION

We operate natural gas liquefaction and export facilities located in Cameron Parish, Louisiana at Sabine Pass and near Corpus Christi, Texas (respectively, the“Sabine Pass LNG Terminal” and“Corpus Christi LNG Terminal”), with total expected production capacity of over 60 mtpa of LNG, including approximately 14 mtpa under construction as of June 30, 2025, inclusive of estimated debottlenecking opportunities.

CQP owns the Sabine Pass LNG Terminal, which has natural gas liquefaction facilities with a total production capacity of over 30 mtpa of LNG (the“SPL Project”) as of June 30, 2025. The Sabine Pass LNG Terminal also hasfive LNG storage tanks, vaporizers andthree marine berths. CQP also owns and operates a 94-mile natural gas supply pipeline that interconnects the Sabine Pass LNG Terminal with several large interstate and intrastate pipelines (the“Creole Trail Pipeline”). As of June 30, 2025, we owned 100% of the general partner interest, a 48.6% limited partner interest and 100% of the incentive distribution rights of CQP.

The Corpus Christi LNG Terminal has natural gas liquefaction facilities with total expected production capacity of over 30 mtpa of LNG, including approximately 14 mtpa under construction as of June 30, 2025, inclusive of estimated debottlenecking opportunities. The Corpus Christi LNG Terminal also hasthree LNG storage tanks andtwo marine berths. We also own an approximately 21-mile natural gas supply pipeline that interconnects the Corpus Christi LNG Terminal with several large interstate and intrastate natural gas pipelines (the“Corpus Christi Pipeline”).

As noted above, we are constructing an expansion of the Corpus Christi LNG Terminal that is expected to add over 10 mtpa of operational liquefaction capacity across seven midscale Trains once fully completed (the“Corpus Christi Stage 3 Project”), inclusive of the first midscale Train that reached substantial completion in March 2025. Subsequently, in August 2025, the second midscale Train of the Corpus Christi Stage 3 Project reached substantial completion. In addition to the Corpus Christi Stage 3 Project, on June 17, 2025, our board of directors (the“Board”) made a positive FID with respect totwo additional midscale Trains with an expected total production capacity of approximately 5 mtpa of LNG, inclusive of estimated debottlenecking opportunities (the“Midscale Trains 8 & 9 Project” and together with the existing assets at the Corpus Christi LNG Terminal, the Corpus Christi Stage 3 Project and the Corpus Christi Pipeline, the“CCL Project”), and issued a full notice to proceed with construction to Bechtel Energy Inc. effective June 18, 2025.

In addition to the Corpus Christi Stage 3 Project and the CCL Midscale Trains 8 & 9 Project, we are developing expansion projects to provide additional liquefaction capacity at both the SPL Project and the CCL Project (collectively, the“Liquefaction Projects”), and have started commercializing to support the additional liquefaction capacity associated with these potential expansion projects. The development of these projects or other projects, including infrastructure projects in support of natural gas supply and LNG demand, will require, among other things, acceptable commercial and financing arrangements before we make a positive FID.

Basis of Presentation

The accompanying unaudited Consolidated Financial Statements of Cheniere have been prepared in accordance with GAAP for interim financial information and in accordance with Rule 10-01 of Regulation S-X and reflect all normal recurring adjustments which are, in the opinion of management, necessary for a fair statement of the financial results for the interim periods presented. Accordingly, these Consolidated Financial Statements do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in ourannual report on Form 10-K for the fiscal year ended December 31, 2024.