sk, we believe that these risks have been well mitigated as described in the table below. Loan Nature of Construction Construction Risk Mitigants Cheniere Energy (SPLNG,CCTP) Assets includes operational pipeline, 4 operational LNG terminals, and 1 re- • Lump-sum, fixed-price, turnkey EPC Contracts for the

sk, we believe that these risks have been well mitigated as described in the table below. Loan Nature of Construction Construction Risk Mitigants Cheniere Energy (SPLNG,CCTP) Assets includes operational pipeline, 4 • Lump-sum, fixed-price, CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-

sk, we believe that these risks have been well mitigated as described in the table below. Loan Nature of Construction Construction Risk Mitigants Cheniere Energy (SPLNG,CCTP) Assets includes operational pipeline, 4 operational LNG terminals, and 1 re- • Lump-sum, fixed-price, turnkey EPC Contracts for the

fessor at MIT, has served as undersecretary of energy, deputy secretary of defense, and director of the CIA. He serves on the board of directors of Cheniere Energy and previously sat on the boards of Schlumberger, CMS Energy and Citigroup. Article 7. Spiegel Turkey and the Euro Crisis Kristina Karasu 8/14

-- Longer Term Liquefaction Pipelines Pipelines Exploration & Production End Users Source: JPMorgan, Alliance Bernstein, Guggenheim Research. Cheniere Energy. Data as of: 12/30/11 SO 30 $2.00 $1.75 $3.50 LNG Costs - $8 Liquefaction E&C firms focused on global energy projects MLPs LNG sites/invest