Key Takeaways CQP's Q2 earnings per unit was $0.91, missing estimates and declining from $0.95 last year.Revenues totaled $2.5B, beating estimates and up from $1.9B a year ago.Lower LNG volumes and higher costs drove a 13% drop in adjusted EBITDA.Cheniere Energy Partners, L.P. (CQP) recorded second-quarter 2025 earnings per unit of 91 cents, which missed the Zacks Consensus Estimate of 96 cents. The bottom line declined from 95 cents reported in the year-ago quarter.Total quarterly revenues of $2.5 billion ...

Cheniere Energy, Inc. Second Quarter 2025 August 7, 2025 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 ...

EXHIBIT 99.1 CHENIERE ENERGY PARTNERS, L.P. NEWS RELEASE Cheniere Partners Reports Second Quarter 2025 Results and Reconfirms Full Year 2025 Distribution Guidance HOUSTON--(BUSINESS WIRE)-- Cheniere Energy Partners, L.P. ("Cheniere Partners") (NYSE: CQP) today announced its financial results for second quarter 2025. HIGHLIGHTS 2025 FULL YEAR DISTRIBUTION GUIDANCE SUMMARY AND REVIEW OF FINANCIAL RESULTS | (in millions, except LNG data) | | | | Three Months Ended June 30, | | | | Six Months Ended June 30, | | ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q For the quarterly period ended June 30, 2025 ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-33366 Cheniere Energy Partners, L.P. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Core Insights - Blackstone's total market value of holdings reached $24.1 billion for Q1 2025, up from $22.0 billion in the previous quarter, representing a 9% increase [1][2] - The investment portfolio included 47 new stocks, 36 stocks were increased, 25 stocks were reduced, and 39 stocks were completely sold out [1][2] - The top ten holdings accounted for 68.8% of the total market value [1][2] Holdings Overview - The largest holding is Cheniere Energy Partners (CQP.US) with approximately 102 million shares valued at about $6.759 billion, making up 28.07% of the portfolio, unchanged from the previous quarter [2][3] - Corebridge Financial Inc. (CRBG.US) is the second-largest holding with around 61.96 million shares valued at approximately $1.956 billion, also unchanged [2][3] - Williams (WMB.US) ranks third with about 20.08 million shares valued at approximately $1.200 billion, reflecting a 5.94% increase in holdings [3][4] Sector Focus - The portfolio shows a strong inclination towards energy stocks, with significant positions in companies like Targa Resources (TRGP.US), Energy Transfer Equity LP (ET.US), and MPLX LP (MPLX.US) [3][4] - The top five purchases included SPDR S&P 500 ETF put options, CoreWeave (CRWV.US), Kinder Morgan (KMI.US), Hess Midstream (HESM.US), and Enbridge (ENB.US) [4][5] - The top five sales included Expand Energy, First Industrial Realty (FR.US), Western Midstream (WES.US), Energy Transfer (ET.US), and NextEra Energy (NEE.US) [5][6]

Financial Performance - Cheniere Partners reported revenues of $2.989 billion for Q1 2025, a 30% increase from $2.295 billion in Q1 2024[4] - Net income for Q1 2025 was $641 million, down 6% from $682 million in Q1 2024, primarily due to $84 million in unfavorable variances related to derivative instruments[4] - Adjusted EBITDA increased by 4% to $1.038 billion in Q1 2025, compared to $1.000 billion in Q1 2024, driven by higher total margins per MMBtu of LNG delivered[5] - Adjusted EBITDA for Q1 2025 was $1,038 million, an increase from $1,000 million in Q1 2024, representing a growth of 3.8%[24] - Net income for Q1 2025 was $641 million, down from $682 million in Q1 2024, reflecting a decrease of 6.0%[24] - Income from operations for Q1 2025 was $826 million, compared to $875 million in Q1 2024, indicating a decline of 5.6%[24] - Interest expense, net of capitalized interest, decreased to $190 million in Q1 2025 from $202 million in Q1 2024, a reduction of 5.9%[24] - Depreciation and amortization expense increased slightly to $171 million in Q1 2025 from $168 million in Q1 2024, a rise of 1.8%[24] - The company reported a loss of $41 million from changes in the fair value of commodity derivatives in Q1 2025, contrasting with a gain of $43 million in Q1 2024[24] Liquidity and Debt Management - As of March 31, 2025, total available liquidity was approximately $2.0 billion, including $94 million in cash and cash equivalents[8] - Cheniere Partners repaid $300 million in principal of its 5.625% Senior Secured Notes due 2025 during Q1 2025[9] LNG Operations - Cheniere Partners exported 112 LNG cargoes in Q1 2025, a 2% decrease from 114 cargoes in Q1 2024, with total volumes of 406 TBtu, down 3% from 418 TBtu[4] - The Sabine Pass LNG terminal has a total production capacity of approximately 30 mtpa, with over 200 million tonnes of LNG produced and exported since inception[10] - The SPL Expansion Project is expected to add up to 20 mtpa of LNG production capacity, with regulatory applications submitted in February 2024[11] Asset Management - Total assets as of March 31, 2025, were $17.094 billion, a decrease from $17.453 billion as of December 31, 2024[22] Adjusted EBITDA Definition - Adjusted EBITDA is used by management and external users to assess financial performance without regard to financing methods or capital structures[25] - The calculation of Adjusted EBITDA excludes certain non-cash items and non-operating income or expenses to provide a clearer view of ongoing operating performance[26]

Financial Performance - LNG revenues for Q1 2025 reached $2,267 million, an increase of 31.8% compared to $1,720 million in Q1 2024[111] - Total revenues for Q1 2025 were $2,989 million, up 30.3% from $2,295 million in Q1 2024[111] - Net income for Q1 2025 was $641 million, a decrease of 6% from $682 million in Q1 2024[111] - Net income decreased by $41 million for the three months ended March 31, 2025, compared to the same period in 2024, primarily due to an $84 million unfavorable change in fair value of derivative instruments[114] - Revenues increased by $694 million during the three months ended March 31, 2025, mainly driven by a $733 million rise in pricing per MMBtu due to higher Henry Hub pricing[115] - Operating costs and expenses rose by $743 million for the three months ended March 31, 2025, largely due to a $643 million increase in the cost of natural gas feedstock[116] - The company reported a net income of $(10) million for the three months ended March 31, 2025, compared to a net income of $0 million in the same period of 2024[129] Cash Flow and Liquidity - Net cash provided by operating activities was $665 million for the three months ended March 31, 2025, compared to $669 million in the same period of 2024[131] - Total available liquidity as of March 31, 2025, was $1,955 million, consisting of cash and cash equivalents, restricted cash, and available commitments under credit facilities[120] - The company repaid $300 million of its 2025 SPL Senior Notes during the three months ended March 31, 2025, and borrowed and repaid $125 million under the SPL Revolving Credit Facility[135] - Cash distributions to unitholders for the three months ended March 31, 2025, totaled $397 million, with a distribution per common unit of $0.820[137] - The increase in operating cash flows was primarily attributed to a decrease in interest payments due to reduced total indebtedness[132] Assets and Liabilities - Total assets decreased from $3,502 million as of December 31, 2024, to $3,254 million as of March 31, 2025[128] - The company has commodity derivatives related to natural gas supply contracts for the Liquefaction Project, with a fair value of $(1,277) million as of March 31, 2025, reflecting a change of $(1,281) million from December 31, 2024[141] - A 10% change in the commodity price for natural gas would impact the fair value of the Liquefaction Supply Derivatives, with specific values detailed in the financial statements[141] Projects and Capacity - The Sabine Pass LNG Terminal has a total production capacity of approximately 30 mtpa and has produced over 200 million tonnes of LNG since inception[101][108] - The SPL Expansion Project aims to add up to approximately 20 mtpa of LNG production capacity, with a target FID in 2026/2027[106][107] - Approximately 80% of the total anticipated production from the Liquefaction Project is contracted under long-term SPAs and IPM agreements[104] - The company has increased available liquefaction capacity through optimization projects, supporting future growth in customer contracts[106] - As of May 1, 2025, over 2,930 cumulative LNG cargoes have been produced and exported from the Liquefaction Project[108] Ratings and Accounting - Fitch Ratings upgraded the issuer credit rating of CQP to BBB from BBB- with a stable outlook in February 2025[113] - The company has not made significant changes to its critical accounting estimates since the annual report for the fiscal year ended December 31, 2024[139]

Financial Performance - For the fourth quarter of 2024, Cheniere Partners reported revenues of $2.46 billion, a decrease of 8% compared to $2.69 billion in Q4 2023[4] - Net income for Q4 2024 was $623 million, down 31% from $906 million in the same quarter of 2023[4] - Adjusted EBITDA for Q4 2024 was $890 million, reflecting a 15% decrease from $1.05 billion in Q4 2023[4] - Adjusted EBITDA for the twelve months ended December 31, 2024, was $3,574 million, slightly down from $3,626 million in 2023, a decrease of approximately 1.4%[26] LNG Exports - Cheniere Partners exported 110 LNG cargoes in Q4 2024, a 4% decrease from 115 cargoes in Q4 2023[4] Cash Distribution - The company declared a cash distribution of $0.820 per common unit for Q4 2024, with a total cash distribution of $3.25 per common unit for the full year 2024[5] - Cheniere Partners introduced full year 2025 distribution guidance of $3.25 to $3.35 per common unit[3] Liquidity and Assets - As of December 31, 2024, total available liquidity was approximately $2.2 billion, including cash and cash equivalents of $270 million[10] - Total assets decreased from $18,102 million in 2023 to $17,453 million in 2024, a decline of approximately 3.6%[24] - Cash and cash equivalents decreased significantly from $575 million in 2023 to $270 million in 2024, a decline of about 53.1%[24] Liabilities and Debt - Current liabilities increased from $1,566 million in 2023 to $1,712 million in 2024, an increase of about 9.3%[24] - Long-term debt decreased from $15,606 million in 2023 to $14,761 million in 2024, a reduction of approximately 5.4%[24] - Total liabilities decreased from $18,886 million in 2023 to $17,962 million in 2024, a decline of about 4.9%[24] - The company reported interest expense of $800 million for the twelve months ended December 31, 2024, compared to $823 million in 2023, a decrease of approximately 2.8%[26] Inventory and Production Capacity - Inventory increased from $142 million in 2023 to $151 million in 2024, an increase of approximately 6.3%[24] - The Sabine Pass LNG terminal has a total production capacity of approximately 30 million tonnes per annum (mtpa) and has exported over 195 million tonnes of LNG since inception[12] - The SPL Expansion Project is expected to add up to approximately 20 mtpa of LNG production capacity, with regulatory applications submitted in February 2024[13] Non-Cash Changes and Partners' Deficit - Cheniere Partners recognized approximately $13 million and $251 million of non-cash favorable changes in fair value from Integrated Production Marketing agreements for Q4 and full year 2024, respectively[8] - The partners' deficit improved from $(784) million in 2023 to $(509) million in 2024, indicating a reduction of approximately 35%[24]

Regulatory Approvals and Compliance - The Sabine Pass LNG Terminal has received FERC approvals for a total of 1,661.94 Bcf/yr for both FTA and non-FTA countries, with a DOE approved volume of 33 mtpa for each category[26] - In October 2024, the DOE authorized the export of an additional 899 Bcf/yr to FTA countries for the SPL Expansion Project, effective upon the first commercial export[26] - The SPL Expansion Project is pending regulatory approval from the FERC and DOE for non-FTA export[47] - The FERC's jurisdiction includes regulation of rates, construction, and operation of LNG terminals, which impacts the company's operational costs[34] - The company is subject to extensive regulatory requirements, including compliance with the PHMSA for safety standards and inspections[48] - The Sabine Pass LNG Terminal is subject to various environmental regulations, which may impose substantial penalties for non-compliance and increase operational costs[55] - The company anticipates capital expenditures for air pollution control equipment due to the Clean Air Act, but does not expect a material adverse effect on operations[56] - The EPA's recent regulations on methane emissions will require monitoring at compressor stations, but the company believes these will not materially impact operations[58] Operational Capacity and Customers - The operational regasification capacity of the Sabine Pass LNG Terminal is approximately 4 Bcf/d, with an aggregate LNG storage capacity of about 17 Bcfe[30] - Major customers contributing 10% or more of total consolidated revenues include BG Gulf Coast LNG (22%), Korea Gas Corporation (15%), and GAIL (India) Limited (15%) for the year ended December 31, 2024[31] - The company has initiated commercial delivery for ten out of eleven third-party long-term SPA customers as of December 31, 2024[27] - The company has secured long-term natural gas supply agreements to support its Liquefaction Project and planned expansions[27] Market Demand and Competition - Global demand for LNG is projected to increase by approximately 61%, from 418 million tons per annum (mtpa) in 2023 to 675 mtpa in 2040[69] - Wood Mackenzie forecasts a need for an additional 142 mtpa of LNG production by 2040 and about 227 mtpa by 2050 to meet market demand[69] - Competition for new SPAs will be based on price per contracted volume and attributes such as reliable production and customer-focused operations[71] Workforce and Corporate Strategy - As of December 31, 2024, Cheniere and its subsidiaries had 1,714 full-time employees, including 501 supporting the Sabine Pass LNG Terminal operations[78] - The company has collaborated on life-cycle assessment models and emissions quantification to enhance its climate strategy and transparency[75] Financial Instruments and Risk - The ultimate fair value of the company's derivative instruments is uncertain and may be subject to material changes due to commodity price volatility[253] - The company has limited exposure to oil price movements due to long-term sales and purchase agreements (SPAs) that generate fixed and variable fees[70]

Financial Performance - Cheniere Partners generated revenues of $2.1 billion and $6.2 billion for the three and nine months ended September 30, 2024, respectively, representing a decrease of 3% and 11% compared to the same periods in 2023[3]. - Net income for the third quarter and nine months ended September 30, 2024, was $635 million and $1.9 billion, down 20% and 44% year-over-year, primarily due to unfavorable variances related to changes in fair value of derivative instruments[3][5]. - LNG revenues for Q3 2024 were $1,479 million, a decrease of 5.4% from $1,564 million in Q3 2023[1]. - Total revenues for the nine months ended September 30, 2024, were $6,244 million, down 10.5% from $6,978 million in the same period of 2023[1]. - Net income for Q3 2024 was $635 million, a decline of 19.7% compared to $791 million in Q3 2023[1]. - Adjusted EBITDA increased by 7% to $852 million for the third quarter and by 4% to $2.7 billion for the nine months ended September 30, 2024, driven by higher volumes delivered[5][6]. - Adjusted EBITDA for Q3 2024 was $852 million, an increase of 7.4% from $793 million in Q3 2023[22]. - The company reported a basic and diluted net income per common unit of $1.08 for Q3 2024, down from $1.19 in Q3 2023[1]. Liquidity and Capital Structure - As of September 30, 2024, total available liquidity was approximately $2.2 billion, including cash and cash equivalents of approximately $331 million[9]. - Total current assets decreased to $1,186 million as of September 30, 2024, from $1,581 million at the end of 2023, a decline of 25%[21]. - Cash and cash equivalents decreased to $331 million as of September 30, 2024, from $575 million at the end of 2023, a decline of 42.5%[21]. - The company’s long-term debt as of September 30, 2024, was $14,756 million, down from $15,606 million at the end of 2023, a decrease of 5.4%[21]. - Total liabilities as of September 30, 2024, were $18,011 million, down from $18,886 million at the end of 2023, a reduction of 4.6%[21]. Operational Highlights - The number of LNG cargoes exported increased by 4% to 104 for the third quarter and 321 for the nine months ended September 30, 2024[5]. - Operating costs and expenses for Q3 2024 totaled $1,228 million, an increase of 7.7% from $1,140 million in Q3 2023[1]. - Cheniere Partners is developing the SPL Expansion Project, expected to add up to approximately 20 million tonnes per annum of LNG production capacity[12]. - The company received authorization from the Department of Energy in October 2024 to export LNG to Free-Trade Agreement countries as part of the SPL Expansion Project[12]. Distributions - Cheniere Partners declared a cash distribution of $0.810 per common unit for the third quarter, with a base amount of $0.775 and a variable amount of $0.035, to be paid on November 14, 2024[3][13]. - The company reconfirmed its full year 2024 distribution guidance of $3.15 - $3.35 per common unit, maintaining a base distribution of $3.10[4]. Derivative Instruments - A significant portion of derivative gains recognized were related to long-term Integrated Production Marketing agreements, with non-cash favorable changes in fair value of approximately $32 million and $238 million for the three and nine months ended September 30, 2024, respectively[7].