Cheniere Energy, Inc.

The following table summarizes the sources and uses of our cash, cash equivalents and restricted cash and cash equivalents (in millions). The table presents capital expenditures on a cash basis; therefore, these amounts differ from the amounts of capital expenditures, including accruals, which are referred to elsewhere in this report. Additional discussion of these items follows the table.

Operating Cash Flows

The $303 million decrease between the periods was primarily related to lower cash flows attributed to working capital from differences in timing of payments to suppliers and cash collections from the sale of LNG cargoes, partially offset by higher net cash inflows from LNG sales, as explained above in Results of Operations, and increased cash inflows from settlement of derivative instruments.

As described in Results of Operations, the OBBBA was signed into law on July 4, 2025 and includes, among other provisions, the FDDEI, which is expected to reduce our income taxes payable once effective beginning in 2026, and 100% bonus depreciation on qualifying assets acquired after January 19, 2025, which is expected to reduce our income taxes payable in 2025.

Investing Cash Flows

Our investing net cash outflows in both periods were primarily for construction costs for the Corpus Christi Stage 3 Project, which were $741 million and $909 million during the six months ended June 30, 2025 and 2024, respectively, as well as for optimization and other site improvement projects. The $168 million decrease in construction costs for the Corpus Christi Stage 3 Project between the periods was primarily related to the timing of cash payments under the related EPC contract. Further contributing to our investing net cash outflows for the six months ended June 30, 2025 was $547 million of costs paid for the CCL Midscale Trains 8 & 9 Project, primarily related to procurement under the related EPC contract with Bechtel, and work performed by them under a limited notice to proceed. We expect to continue to incur capital expenditures for the Corpus Christi Stage 3 Project and the CCL Midscale Trains 8 & 9 Project as construction progresses on these projects.

Financing Cash Flows

The following table summarizes our financing activities (in millions):

Proceeds from Issuances of Debt and Borrowings

The following table shows the proceeds from issuances of debt and borrowings, including intra-quarter activity (in millions):

Debt Redemptions and Repayments

The following table shows the redemptions and repayments of debt, including intra-quarter activity (in millions):

Repurchase of Common Stock

During the six months ended June 30, 2025 and 2024, we paid $656 million and $1.7 billion to repurchase approximately 3.0 million and 10.7 million shares of our common stock, respectively, under our share repurchase program. Additionally, during the six months ended June 30, 2025, we paid $33 million of excise taxes related to our repurchase of common stock during the fiscal years 2023 and 2024. As of June 30, 2025, we had approximately $3.2 billion remaining under our share repurchase program.

Cash Dividends to Stockholders

During the six months ended June 30, 2025, we paid aggregate dividends of $1.000 per share of common stock for a total of $223 million and during the six months ended June 30, 2024, we paid aggregate dividends of $0.870 per share of common stock for a total of $202 million.

On June 17, 2025, we declared a quarterly dividend of $0.500 per share of common stock that is payable on August 18, 2025 to stockholders of record as of the close of business on August 8, 2025.