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 $148 million decrease between the periods was primarily related to a more significant decrease in net working capital in the current period as compared to prior period due to differences in timing of cash collections from the sale of LNG cargoes and payments to suppliers. Also contributing to the decrease in operating cash flows was cash used for settlement of derivative instruments during the three months ended March 31, 2026 compared to cash provided by settlement of derivative instruments during the same period in 2025. Partially offsetting these decreases was increased cash receipts from the sale of LNG cargoes due to higher revenue from increased Henry Hub pricing and higher production volume, as explained above in Results of Operations.

Investing Cash Flows

Our investing net cash outflows primarily related to: (1) construction costs for the Corpus Christi Stage 3 Project, which were $414 million and $321 million during the three months ended March 31, 2026 and 2025, respectively; (2) $247 million of costs paid for the CCL Midscale Trains 8 & 9 Project during the three months ended March 31, 2026, primarily related to procurement and engineering; and (3) optimization and other site improvement projects during both periods. 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 three months ended March 31, 2026 and 2025, we paid $537 million and $350 million to repurchase approximately 2.7 million and 1.6 million shares of our common stock, respectively, under our share repurchase program. Additionally, the Internal Revenue Service imposes an excise tax of 1% on the fair market value of our stock repurchases less our stock issuances, and we paid $13 million of such excise taxes during the three months ended March 31, 2025 related to our repurchases during the fiscal year 2023. In April 2026, we paid $26 million of excise taxes related to our repurchases during the fiscal year 2025. In February 2026, our Board approved an increase in our share repurchase authorization to approximately $10 billion from 2026 through 2030 with a $9 billion increase to the existing authorization. As of March 31, 2026, we had approximately $9.7 billion remaining under our share repurchase program.

Cash Dividends to Stockholders

During the three months ended March 31, 2026 and 2025, we paid dividends of $0.555 and $0.500 per share of common stock for a total of $117 million and $112 million, respectively.

On April 28, 2026, we declared a quarterly dividend of $0.555 per share of common stock that is payable on May 19, 2026 to stockholders of record as of the close of business on May 11, 2026.