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Venture Global SECOND QUARTER 2026 AUGUST 11 , 2026 VENTURE GLOBAL
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LEGAL DISCLAIMER Forward-Looking Statements This presentation includes statements that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 (as amended, the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934 (as amended, the “Exchange Act”). All statements, other than statements of historical facts, included herein are “forward-looking statements.” In some cases, forward-looking statements can be identified by terminology such as “may,” “might,” “will,” “could,” “should,” “expect,” “plan,” “project,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “pursue,” “target,” “continue,” the negative of such terms or other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties and assumptions about us, may include projections of our future financial performance, expectations regarding the permitting and regulatory filings, development, construction, commissioning and completion of our projects, expectations regarding sales of LNG cargos, estimates of the cost of our projects and schedule to construct and commission our projects, our anticipated growth strategies and anticipated trends impacting our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements, including: our potential inability to maintain profitability, maintain positive operating cash flow and ensure adequate liquidity in the future, including as a result of the significant uncertainty in our ability to generate proceeds and the amount of proceeds that will regularly be received from sales of uncontracted commissioning cargos and excess cargos due to volatility and variability in the LNG markets; our need for significant additional capital to construct and complete our projects, including some of our existing projects, future projects, potential bolt-on expansions and related assets, and our potential inability to secure such financing on acceptable terms, or at all; our potential inability to construct or operate all of our proposed LNG facilities or pipelines or any additional LNG facilities or pipelines beyond those currently planned, including any of the bolt-on expansion opportunities which we have identified, and to produce LNG in excess of our nameplate capacity, which could limit our growth prospects, including as a result of delays in obtaining regulatory approvals or inability to obtain requisite regulatory approvals to complete construction during our estimated development periods; significant operational risks related to our natural gas liquefaction and export projects, including our existing projects and any potential bolt-on expansions, any future projects we develop, our pipelines, our LNG tankers, and our regasification terminal usage rights; our potential inability to accurately estimate costs for our projects, and the risk that the construction and operations of natural gas pipelines and pipeline connections for our projects suffer cost overruns and delays related to obtaining regulatory approvals, development risks, labor costs, unavailability of skilled workers, operational hazards and other risks; the uncertainty regarding the future of international trade agreements and the United States’ position on international trade including the effects of tariffs, as well as the effects of ongoing legal challenges to tariffs and reimbursements of tariffs; our current and potential involvement in disputes and legal proceedings, including the arbitrations and other proceedings currently pending against us and the possibility and magnitude of negative outcomes in any such dispute or proceeding and the potential impact thereof on our results of operations, liquidity and our existing contracts our potential inability to enter into the necessary contracts to construct our projects, or any bolt-on expansions, on a timely basis or on terms that are acceptable to us; our potential inability to enter into Contracted SPAs with customers for, or to otherwise sell, an adequate portion of the total expected nameplate capacity at our existing projects, any potential bolt-on expansions, or any future projects we develop; our dependence on our EPC and other contractors and suppliers for the successful completion of our projects and delivery of our LNG tankers, including the potential inability of our contractors to perform their obligations under their contracts; various economic and political factors, including opposition by environmental or other public interest groups, or the lack of local government and community support required for our projects, which could negatively affect the permitting status, timing or overall development, construction and operation of our projects; the effects of FERC regulation on our interstate natural gas pipelines and their FERC gas tariffs; the risk that the natural gas liquefaction system and mid-scale design we utilize at our projects will not achieve the level of performance or other benefits that we anticipate; potential additional risks arising from the duration of and the phased commissioning start-up of our projects; the potential risk that our customers or we may terminate our SPAs if certain conditions are not met or for other reasons; potential decreases in the price of natural gas and its related impact on our ability to pay the cost of gas transportation, the payment of a premium by us for feed gas relative to the contractual price we charge our customers, or other impacts to the price of natural gas resulting from geopolitical and inflationary pressures, including from the disruption in international oil and natural gas supply chains caused by the ongoing conflict in Iran and decline in commercial vessel traffic in the Strait of Hormuz; the potential negative impacts of seasonal fluctuations on our business; the risks related to the development and/or contracting for additional gas transportation capacity to support the operation and expansion capacity of our LNG projects; the risks related to the management and operation of our LNG tanker fleet and our future regasification terminal usage rights; the potential effects of existing and future environmental and similar laws and governmental regulations on compliance costs, operating and/or construction costs and restrictions; our potential inability to obtain, maintain or comply with necessary permits or approvals from governmental and regulatory agencies on which the construction of our projects depends, including as a result of opposition by environmental and other public interest groups; our indebtedness levels, and the fact that we may be able to incur substantially more indebtedness, which may increase the risks created by our substantial indebtedness. For more information on these and other factors that could cause our results to differ materially from expected results, please refer to the risks and uncertainties discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. The forward-looking statements included in this presentation are made only as of the date of this presentation, and we undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law. The guidance in this presentation is only effective as of the date given, August 11, 2026. Distribution or reference of this deck following August 11, 2026, does not constitute Venture Global, Inc. (the “Company”) updating guidance. 2
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LEGAL DISCLAIMER (CONT’D) Market and Industry Data Certain of the information contained herein concerning industry and market data, economic trends, market position and competitiveness is based upon or derived from industry and market data from independent industry publications, other publicly available information and other reports prepared by third parties retained by the Company. Although the Company believes that these sources are reliable, the Company has not independently verified and does not guarantee the accuracy or completeness of this information, nor have we ascertained the underlying economic assumptions relied upon therein. Use of Non-GAAP Financial Measures This presentation contains references to Consolidated Adjusted EBITDA, which is not required by, or presented in accordance with, GAAP. We believe Consolidated Adjusted EBITDA provides investors and other users of our consolidated financial statements with useful supplemental information to evaluate the financial performance of our business on an unleveraged basis, to enable comparison of our operating performance across periods. Consolidated Adjusted EBITDA also allows investors and other users of our financial statements to evaluate our operating performance in a manner that is consistent with management’s evaluation of financial and operating performance. We define Consolidated Adjusted EBITDA as net income attributable to common stockholders of Venture Global, Inc., as determined in accordance with GAAP, adjusted to exclude net income attributable to non-controlling interests, income taxes, gain/loss on interest rate swaps, gain/loss on financing transactions, interest expense, net of capitalized interest, interest income, depreciation and amortization, stock-based compensation expense, gain/loss from changes in the fair value of forward natural gas supply contracts, and gain/loss from changes in exchange rates on foreign currency transactions. We believe the exclusion of these items enables investors and other users of our consolidated financial statements to assess our sequential and year-over-year performance and operating trends on a more comparable basis. The Company does not provide a reconciliation of forward-looking amounts of Consolidated Adjusted EBITDA, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. Many of the adjustments and exclusions used to calculate the projected Consolidated Adjusted EBITDA may vary significantly based on actual events, so the Company is not able to forecast on a GAAP basis with reasonable certainty all adjustments needed in order to provide a GAAP calculation of these projected amounts. The amounts of these adjustments may be material and, therefore, could result in the GAAP amount being materially different from (including materially less than) the projected non-GAAP measures. Certain Other Measures We sometimes present total contracted third-party revenue, which we define as the sum, for the remainder of the term for our contracted SPAs then in effect or subject to conditions reasonably anticipated to be satisfied, of (i) the volume weighted average of the fixed facility charge component for all such SPAs for each project or project phase, multiplied by the contracted volumes for all such SPAs for the applicable project or project phase, in each case adjusted for inflation (assuming that approximately 17.5% of the fixed facility charge component increases by 2.5% annual inflation every year following the first full year after COD), and (ii) the lifting charge (net) that would be earned for all such SPAs, assuming, for illustrative purposes only, all volumes contracted under each such SPA are lifted at an assumed Henry Hub gas price of $4.00 per MMBtu, in each case using a conversion factor of MMBtu to MTPA of 52. Our total contracted third-party revenue is illustrative only and is based on a number of important assumptions. For more information on these and other factors that could cause our results to differ materially from expected results, please refer to the risks and uncertainties discussed in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on March 2, 2026, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC's website at www.sec.gov. 3
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TABLE OF CONTENTS Section Company Highlights 5 Industry Trends 12 Financial Performance 15 Appendix 19 4
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COMPANY HIGHLIGHTS | SECOND QUARTER 2026 Recent Company Accomplishments and Company Outlook Notes: 1. Consolidated Adjusted EBITDA is a non-GAAP metric. For definition and further information on our use of non-GAAP metrics, please refer to the "Legal Disclaimer" at the beginning of the presentation. For a reconciliation of Consolidated Adjusted EBITDA to net income attributable to common stockholders as its most comparable GAAP metric for each time period presented, please refer to the Appendix at the end of this presentation 2. Consolidated Adjusted EBITDA includes portions attributable to Non-Controlling Interests 3. Represents cargos which departed from Venture Global facilities during the respective time periods listed above 4. Net income as used herein refers to net income attributable to common stockholders on our Condensed Consolidated Statements of Operations Consolidated Adjusted EBITDA(1) Summary $2,491 MM Second Quarter 2026 Consolidated Adjusted EBITDA(1)(2) $8.7 - 9.1 Bn Full Year 2026 Consolidated Adjusted EBITDA(1)(2) Forecast 127 Second Quarter Cargos Exported(3) 500 - 518 Anticipated Full Year 2026 Cargos Exported(3) 5 Income from Operations ($MM) Consolidated Adjusted EBITDA(1)(2) ($MM)Net Income (4) ($MM) Revenue ($MM) The Quarter Delivered Strong Growth Across All Key Metrics $3,101 $4,578 Q2 2025 Q2 2026 $368 $1,347 Q2 2025 Q2 2026 $1,393 $2,491 Q2 2025 Q2 2026 $1,038 $2,188 Q2 2025 Q2 2026 +266% +111%+48% +79%
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COMPANY HIGHLIGHTS | RECENT ACCOMPLISHMENTS Compounding Milestones 127 Cargos Exported in Q2 2026(1) 6 1. Represents cargos which departed from Venture Global Facilities during the respective time periods listed above Notes: Robust Quarterly Performance increased revenue by 48% and EPS by 264% year over year Exported our 1,000th LNG Cargo, solidifying our position as one of the largest and most reliable LNG producers in the world 127 Cargos for the quarter (37 from Calcasieu Pass and 90 from Plaquemines), 38 cargos higher than the second quarter of 2025 Increasing Dividend by 122% in Q3 to $0.04 per share per quarter Q2’26 Total Recordable Incident Rate across our projects was 0.10 vs. industry average of 1.8 Secured Offtake Agreements of more than 2 MTPA of 5-year and 20-year agreements with TotalEnergies, Vitol, Atlantic-See LNG, and EnBW Refinanced $5.3Bn of capital since the start of Q2 2026 delivering more than $100MM of annual interest and coupon savings New $1.5Bn Vessel Financing recapitalizing previously equity funded shipping business to provide growth equity for forthcoming expansions Filed with FERC and DOE for CP2 expansion permits and non-FTA export permit, respectively Progress at CP2 - 50 100 150 Calcasieu Pass Plaquemines Cargos
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91% and 75% of total expected cargos(1) for 2026 and 2027 respectively are contracted as of August 11, 2026 Increasing the midpoint of full year 2026 cargo expectation to 509 from 508, driven by Q2 results at the high end of the previous forecast range Q2 2026 production was at the higher end of the guidance range Final stages of commissioning and rectification (pretreatment and power island) at Plaquemines Phase I Anticipate Plaquemines Phase I COD in Q4 2026 COMPANY HIGHLIGHTS | CONSOLIDATED PRODUCTION OVERVIEW Overview Production Summary Historical Quarterly Production Summary LTM Exported Cargos 7 Quarterly and Annually Exported Cargos Quarterly Cargo Forecast(2) 100 128 130 127 Q3 '25 Q4 '25 Q1 '26 Q2 '26 89 127 380 500 - 518 Q2 '25 Q2 '26 FY'25 FY'26E Weighted Average Liquefaction Fee(3) Contracted Weighted Average Liquefaction Fee(3) $5.58 /MMBtu $6.45 /MMBtu $5.87 /MMBtu $5.05 /MMBtu Notes: 1. Represents percentage contracted relative to the high end of all expected cargos 2. Cargo forecasts are only predictions based on our current expectations and projections about future events, including our current and future levels of production and sales, assuming 3.7 TBtu per cargo. The quantity of actual cargos that will be loaded and sold is subject to various risks, uncertainties and assumptions related to, among other things, operational, commercial and regulatory matters. There are important factors that could cause the quantity of our actual future cargos to differ materially from the ranges presented in these forecasts. See “Forward-Looking Statements” on slide 2 of this presentation for further detail 3. Represents the Venture Global implied weighted average liquefaction fee associated with all cargos sourced from Calcasieu Pass and Plaquemines project excluding variable charges 118 - 125 125 - 136 125 - 134 122 - 130 Q3 '26 Q4 '26 Q1 '27 Q2 '27 (2)
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Construction(1) Expected First LNG COMPANY HIGHLIGHTS | CP2 PHASE I & II CONSTRUCTION PROGRESS CP2 Milestones from FID 8 Off-site Prefabricated Heat Recovery Steam Generator (HRSG) H2 - 2027 Construction Overview $15Bn Total Capex Spent to Date $8Bn Total Equity Spent to Date Procurement 79% 36% Engineering 100% Liquefaction Trains Delivered Pretreatment Modules Delivered Gas / Steam Turbines Delivered Key Statistics 3616 143 145 Phase I FID 1st Liquefaction Train on Foundation July 2025 January 2026 August 2026 Roof Raised on 4 Tanks 1st Pretreatment Module Delivery May 2026 Five Gas Turbines on Foundations July 2026 Phase II FID March 2026 Perimeter Wall Complete April 2026 CPX Pipeline Complete Dec 2026 Engineering Complete 1. Excludes off-site construction progress Notes:
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CP2 Brownfield Expansion includes: Addition of 12 mid-scale liquefaction trains totaling 10 MTPA 5x2 Power Island, 685 MW of additional power Three gas pretreatment modules A third marine berth Expansion will be within the existing CP2 footprint, protected by the existing wall and sitting on existing stabilized soil Target FID early 2027 Target first production late 2028 Filed for final approval with FERC in May 2026 as regulatory pre-filing was waived Filed for non-FTA export permit with DOE in July 2026 9 COMPANY HIGHLIGHTS | BOLT- ON EXPANSIONS CP2 Expansion Plaquemines Bolt-On Phase I Plaquemines Brownfield Expansion Phase I includes: Addition of 8 mid-scale liquefaction trains totaling 6 MTPA Soil stabilization, site preparation, and perimeter wall First phase of the Cloud Connector pipeline (165 miles) Target FID first half of 2027 Target first production 2029 Filed for approval with FERC and DOE in late 2025 Site development and pipeline groundwork for the full 31.0 MTPA Plaquemines expansion, which can be expanded in phases based on market demand CP2 Expansion Plaquemines Expansion Phase I Plaquemines Bolt-On Phase I
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COMPANY HIGHLIGHTS | CONTRACTING OUTLOOK 10 1. Excludes the Venture Global Commodities non-excess SPAs 2. Medium-Term denotes contracts of a duration of 3-5 years, and includes SPAs of 1.5 MTPA at Calcasieu Pass and 0.3 MTPA at Plaquemines 3. Includes bolt-on expansions as outlined on page 9 Notes: Contract Portfolio Total production including bolt-on – CP 11.2 PQ 34.4 CP2 35.4 Total – 81.0mtpa Current Contracting Portfolio – Providing Optionality, Flexibility, and Certainty Leverage currently available and incremental bolt-on capacity to sign multiple new 10 to 20 year SPAs while maintaining industry low long-term pricing Continue to prioritize long-term contracting to support construction financing and long-term cash flow visibility Long-Term Contracts (10 - 20 years) 47 MTPA Long-Term(1) 6 MTPA Medium-Term(2) 32 MTPA Available(3) Maintain a disciplined approach to medium-term contracting of capacity to balance portfolio cash flow stability with market flexibility and price exposure Expect a greater proportion of new bolt-on infrastructure to be contracted on a medium-term basis than we have historically secured Medium-Term Contracts (5 - 7 years) Necessary as part of the commissioning process, by definition a short duration process prior to COD Enhances overall portfolio optionality, contracting flexibility, and project returns Short / Medium-Term Contracts (1 - 3 years) & Regasification Capacity Near Term Focus on Contracting Available Excess and Expansion Capacity 85 MTPA Total
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INDUSTRY TRENDS
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-5 5 15 25 35 45 INDUSTRY TRENDS | HISTORICAL DISTRIBUTION OF LIQUEFACTION FEES 12 Implied liquefaction fees demonstrate significant skew to high prices with a floor, creating outsized upside potential and average rates well above long-term contract terms Assumes JKM less Henry Hub x 115% and a conservative $2/MMBtu for shipping, regas, and logistics costs Includes monthly average U.S. liquefaction fees between January 2010 and June 2026 Median liquefaction fee minimizes extraordinary impact from pandemic and Russia / Ukraine as well as the market disruption during Covid. $5.19 median remains significantly higher than 20-year average rates CommentaryFrequency Distribution of Implied Liquefaction Fees 2010 - 2026 $6.41 Mean On average, short-term liquefaction fees from the U.S. would have been 2x – 3x greater than the 20- year contract rates, implying most of the liquefaction gains are being realized by customers signing long-term contracts which do not have equity capital investments in the projects Mean $6.41 Median $5.19 Key Statistics Today 1. Data sourced from Bloomberg as of August 11, 2026 Notes: We believe LNG contracts should have a floor at the 20-year contract price Frequency $ / MMBtu
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Strong LNG demand from several Asian buyers has pulled cargos from Europe resulting in much lower-than-normal European inventory levels, which could prove problematic as demand rises during winter months Low European Gas Inventory LNG imports into major Asian buyers such as China, Japan, and India have not only recovered but are higher YoY despite JKM prices in the second quarter up 56% relative to the same quarter in 2025 Strength from Asia Notes: 1. Data sourced from Bloomberg as of August 11, 2026 INDUSTRY TRENDS | NEAR-TERM MARKET DYNAMICS 13 Underlying LNG Demand Remains FirmImport Activity Indicating Resilient Asian Markets (Million Tons) LNG import activity is beginning to increase, despite reduced exports from Ras Laffan and Das Island. Global LNG imports are effectively unchanged YoY through July even given materially higher prices Higher Prices Have not Diminished Demand – 400 800 1,200 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Min Max 2026 European Gas Storage from 2020 through 2026 (TWh) 2,000 4,000 6,000 8,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026 2,000 4,000 6,000 8,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026 1,000 1,700 2,400 3,100 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2025 2026 China Japan India
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FINANCIAL PERFORMANCE
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FINANCIAL PERFORMANCE | SECOND QUARTER 2026 Generated almost $2.5Bn of Consolidated Adjusted EBITDA during the quarter Venture Global owned or operated ships delivered their 100th cargo during the second quarter, having never missed a load or delivery window Continued balance sheet strengthening with numerous refinancings completed, reducing interest cost and extending maturities In June, we closed a $1.5Bn senior secured term loan credit facility reimbursing Venture Global LNG Inc, for certain payments made in conjunction with the acquisition of nine LNG vessels Cash & Restricted Cash of $4.6Bn as of June 30, 2026 $2.0Bn of Corporate Revolving Credit Facility remains undrawn and fully available Total assets were $61.5Bn, up $15.0Bn year over year as of June 30, 2026 Summary of Results and Drivers ($MM) Consolidated Q2 Adjusted EBITDA Bridge(2) ($MM) 1. Net income as used herein refers to net income attributable to common stockholders on our Consolidated Statements of Operations 2. Consolidated Adjusted EBITDA is a non-GAAP metric. For definition and further information on our use of non-GAAP metrics, please refer to the "Legal Disclaimer" at the beginning of the presentation. For a reconciliation of Consolidated Adjusted EBITDA to net income attributable to common stockholders as its most comparable GAAP metric of each time period presented, please refer to the Appendix at the end of this presentation 3. Represents cargos which departed Venture Global facilities during the respective time periods listed above 4. Represents volumes of LNG delivered to customers during the respective time periods listed above. Reflected in results of operations Key Q2 2026 and Recent Updates (2) (2) Notes: 15 $1,393 $805 $384 ($114) ($9) $30 $2 $2,491 Q2 2025 LNG Sales Volumes LNG Sales Prices net of the Cost of Feed Gas Operating and Maintenance Expenses General and Administrative Expenses Development Expenses Other Q2 2026 Q2 2025 ∆ Q2 2026 Revenue $3,101 48% $4,578 Income from Operations 1,038 111% 2,188 Net Income(1) 368 266% 1,347 Consolidated Adjusted EBITDA(2) 1,393 79% 2,491 LNG Cargos Exported(3) 89 43% 127 LNG Volumes Exported (TBtu) 331 45% 478 LNG Volumes Sold (TBtu)(4) 329 42% 466
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FINANCIAL PERFORMANCE | FULL YEAR 2026 GUIDANCE Notes: 1. Consolidated Adjusted EBITDA is a non-GAAP metric. For definition and further information on our use of non-GAAP metrics, please refer to the "Legal Disclaimer" at the beginning of the presentation. The Company does not provide a reconciliation of forward-looking non-GAAP financial measures, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations 2. Consolidated Adjusted EBITDA incorporates contributions from Non-Controlling Interests. For 2026, the Non-Controlling Interest share of Consolidated Adjusted EBITDA is projected to be $150MM - $170MM Full Year 2026 Guidance We currently assume a liquefaction fee range of $12.50/MMBtu - $13.50/MMBtu for our remaining unsold cargos in 2026 in support of our updated guidance, reflecting market forward prices and recently executed cargo sales Continue to expect Plaquemines Phase I COD in Q4 2026 Expect basis impact at Plaquemines of $200MM - $250MM through the remaining two quarters of 2026. We anticipate Plaquemines basis costs will decline in 2028 as new pipeline connectivity is added Expect total 2026 capex of $13Bn +/- $1.00/MMBtu change in fixed liquefaction fee will impact Consolidated Adjusted EBITDA by ~$180MM - $210MM Key drivers which could shift our guidance going forward include: Potential excess cargos from Calcasieu Pass Reliability and performance of Plaquemines liquefaction trains Domestic (Henry Hub) and International (TTF, JKM) pricing dynamics Relevant Commentary 16 Full Year 2026 Changes to EBITDA Guidance ($MM) $8,200 - $8,500 $8,700 – $9,100 145 52 555 Previous Guidance Contracted Since Previous Guidance Change in Expected Volumes Change in Forward Curve on Open Capacity Updated Guidance Full Year 2026 Guidance As of Q1 2026 ∆ As of Q2 2026 Consolidated Adjusted EBITDA(1)(2) $8.2Bn - $8.5Bn $500MM - $600MM $8.7Bn - $9.1Bn Consolidated Adjusted EBITDA Sensitivity (+/- $1/MMBtu)(1) $300MM - $350MM $(120)MM - $(140)MM $180MM - $210MM Calcasieu Pass Cargos 147 - 154 +2 - 0 149 - 154 Plaquemines Cargos 347 - 369 +4 - (5) 351 - 364
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FINANCIAL PERFORMANCE | CAPITAL ALLOCATION 17 Our Core Objectives Disciplined Growth Strategic Priorities Strategic Expansion Continued construction at Plaquemines and CP2 Phases I & II, while progressing development of the first bolt-on expansions Positioned the portfolio to achieve ~85 MTPA of total production capacity by the end of 2029 Financing the shipping assets raised $1.5 billion of debt, a portion of which was dividend recapitalization, enabling capital redeployment toward bolt- on expansions and general corporate purposes Simplify Capital Structure & Deleverage Capital Return Reduce Capital Costs Cumulative annual interest and coupon savings of more than $100MM Repaid ~$1.3Bn of the $3.0Bn CP2 equity bridge loan through July Refinanced the Calcasieu Pass Funding preferred equity Refinanced the remaining Calcasieu Pass construction term loan and revolver Refinanced $2.25Bn of corporate bonds Repriced the Blackfin Pipeline Term Loan B Growth Pipeline Continued investment in phased bolt-on expansions, supported through a combination of medium- and long-term contracting and reinvested earnings Capital Optimization & Targeted Deleveraging Reduce outstanding debt through scheduled amortization and opportunistic prepayment and refinancing of higher-cost obligations Utilize growing cash flows to further strengthen balance sheet Prioritize reduction and refinancing of higher-cost debt, including Venture Global Inc. corporate bonds Disciplined Capital Allocation Align capital allocation with long-term value creation, reducing debt, consistently growing dividends over time, and implementing strategic share buybacks in the future Growing Shareholder Returns Announcing a 122% increase in quarterly dividends for Q3 to $0.04 per share, the third increase since the IPO Achievements to Date
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APPENDIX
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APPENDIX | UNSTOPPABLE ENERGY Key Takeaways Five Final Investment Decisions (FID) in Six Years New long- and medium-term contracts signed since the start of 2025, effectively double the amount signed by the next closest competitor +13MTPA Percent of 2026 expected cargos contracted as of August 11, 2026 91 % Total Contracted Third-Party Revenue(2) $138 Bn Q2’26 Total Assets, up $8.1Bn from YE’25 $62 Bn Aug 2019 Jan 2022 May 2022 Mar 2023 Dec 2024 Apr 2025 Jul 2025 Calcasieu Pass Final Investment Decision Calcasieu Pass First LNG Plaquemines Phase I Final Investment Decision Plaquemines Phase II Final Investment Decision Plaquemines First LNG Calcasieu Pass Commercial Operations Date (COD) CP2 Phase I Final Investment Decision Notes: 1. Estimated production capacity at Calcasieu Pass, Plaquemines, and CP2 2. Total contracted third-party revenue is based on certain assumptions and is presented for illustrative purposes only and actual sales under our SPAs may differ materially from such illustrative operating results. See “Certain Other Measures” on slide 3 of this presentation 3. Bolt-on expansions are subject to regulatory approval Capital raised or repriced since the inception of the company $103.4 Bn 19 Proven Execution: advancing projects from FID to first LNG on an accelerated timeline Scalable Growth Platform: leveraging a modular development approach to enable capacity expansions with repeatable execution across projects and phases Global Energy Access: expanding supply of low-cost U.S. LNG to enable long-term energy affordability for countries around the world Visible Cash Flows & Strong Returns: generating stable and predictable revenues through long- and medium-term SPAs, with a contract portfolio delivering best-in-industry returns Long- and medium-term offtake contracts signed to date, more than a 100% of nameplate capacity +53 MTPA Mar 2026 CP2 Phase II Final Investment Decision
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Quarterly and Annual Exported Cargos Overview Production Summary Increasing expected cargos for full year 2026 to 149 -154, bringing up the low end of the range by two cargos and maintaining the high end of the range 95%(1) of potential 2026 cargos contracted at a weighted average liquefaction fee of $2.36/MMBtu Scheduled maintenance during Q2 was completed with minimal impact on production Plant operating at run-rate capacity of ~11 MTPA with focused effort to achieve 12.4 MTPA over the next 2-3 years Historical Quarterly Production Summary LTM Exported Cargos 38 37 146 149 - 154 Q2 '25 Q2 '26 FY '25 FY '26E Weighted Average Liquefaction Fee(3) Contracted Weighted Average Liquefaction Fee(3) $3.13 /MMBtu $2.44 /MMBtu $3.92 /MMBtu $2.36 /MMBtu APPENDIX | CALCASIEU PASS 20 36 - 38 38 - 41 37 - 40 36 - 38 Q3 '26 Q4 '26 Q1 '27 Q2 '27 36 38 38 37 Q3 '25 Q4 '25 Q1 '26 Q2 '26 Quarterly Cargo Forecast(2) Notes: 1. Represents percentage contracted relative to the high end of all expected cargos 2. Cargo forecasts are only predictions based on our current expectations and projections about future events, including our current and future levels of production and sales, assuming 3.7 TBtu per cargo. The quantity of actual cargos that will be loaded and sold is subject to various risks, uncertainties and assumptions related to, among other things, operational, commercial and regulatory matters. There are important factors that could cause the quantity of our actual future cargos to differ materially from the ranges presented in these forecasts. See “Forward-Looking Statements” on slide 2 of this presentation for further detail 3. Represents the Venture Global implied weighted average liquefaction fee associated with all cargos sourced from the Calcasieu Pass project excluding variable charges. Includes fixed liquefaction fees and fees indexed to foreign gas markets, exclusive of an actual or implied commodity fee (2)
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Total LNG exported from Plaquemines was 340.7 TBtu which was at the top of the expected range, although average cargo size increased to 3.79 TBtu vs. the typical 3.7 TBtu Weighted average liquefaction fee for Q2 2026 of $8.12/MMBtu 90%(1) of potential 2026 cargos contracted at a weighted average liquefaction fee of $6.25/MMBtu, including Q1 margin compression and expected post COD cargos in Q4 2026 Narrowing the range of expected cargos for the full year 2026 to 351-364, as production has been largely in line with expectations and assumes a higher average cargo size There were five cargos exported from Plaquemines that will be recognized as revenue in Q3 Plaquemines continues to expect to achieve COD in two phases on schedule Targeting Phase I COD in Q4 2026 and Phase II COD in mid-2027 APPENDIX | PLAQUEMINES Overview Production Summary Historical Quarterly Production Summary LTM Exported Cargos 21 Quarterly and Annual Exported Cargos 82 - 87 87 - 95 88 - 94 86 - 92 Q3 '26 Q4 '26 Q1 '27 Q2 '27 Quarterly Cargo Forecast(2) 64 90 92 90 Q3 '25 Q4 '25 Q1 '26 Q2 '26 51 90 234 351 - 364 Q2 '25 Q2 '26 FY '25 FY '26E Weighted Average Liquefaction Fee(3) Contracted Weighted Average Liquefaction Fee(3) $7.40 /MMBtu $8.12 /MMBtu $7.09 /MMBtu $6.25 /MMBtu Notes: 1. Represents percentage contracted relative to the high end of all expected cargos 2. Cargo forecasts are only predictions based on our current expectations and projections about future events, including our current and future levels of production and sales, assuming 3.8 TBtu per cargo. The quantity of actual cargos that will be loaded and sold is subject to various risks, uncertainties and assumptions related to, among other things, operational, commercial and regulatory matters. There are important factors that could cause the quantity of our actual future cargos to differ materially from the ranges presented in these forecasts. See “Forward-Looking Statements” on slide 2 of this presentation for further detail 3. Represents the Venture Global implied weighted average liquefaction fee associated with all cargos sourced from the Plaquemines project excluding variable changes. Includes fixed liquefaction fees and fees indexed to foreign gas markets, exclusive of an actual or implied commodity fee (2)
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APPENDIX | OUR CURRENT LNG PROJECTS Projects Summary of Near-Term Development Plans(1) Calcasieu Pass Plaquemines CP2 22 Total Notes: 1. Reflects balances as of August 11, 2026 2. In December 2025, we filed applications with FERC and DOE proposing bolt-on expansions 3. We filed applications with the FERC and DOE proposing a 11.7 MTPA expansion of the CP2 Project (the "CP2 Expansion Project") in the first half of 2026 4. The "expected" annualized production capacity for each facility represents the anticipated sustainable post-COD production levels of LNG produced by our liquefaction facilities under normal operating conditions on an annual basis (e.g., typical day-to-day temperatures, pressure, humidity, and standard operating parameters). Our facilities may temporarily achieve higher throughput—i.e., the maximum technical output—under optimal or "peak" conditions (e.g., cooler ambient temperatures, peak equipment efficiency, ideal feed-gas composition and minimal downtime). Actual performance will vary over time and depends on factors such as weather, feed-gas composition, maintenance schedules and equipment 5. Total includes 3.0 MTPA 5-year contract with Venture Global Commodities 6. Includes Calcasieu Pass Funding, LLC Term Loan, CP2 Equity Bridge Facility, and Blackfin Pipeline Term Loans, VG Shipping Holdings Term Loan 7. Total contracted third-party revenue is based on certain assumptions and is presented for illustrative purposes only and actual sales under our SPAs may differ materially from such illustrative operating results. See “Certain Other Measures” on slide 3 of this presentation Phase I & II Bolt-on(2) Status Operating Construction & Commissioning Development Construction Development Mid-Scale Liquefaction Trains 18 36 8 36 12 110 Expected Capacity(4) (MTPA) 11 28 6 29 10 85 Third Party SPAs (MTPA) 10 20 19 53(5) FID Aug-19 May-22 / Mar-23 Jul-25 / Mar-26 Total Construction Term Loan Commitments ($Bn) $2.5 $19.1 $21.6 Total Outstanding Project Bonds ($Bn) $5.5 $9.5 $15.0 Corporate / Other Debt ($Bn) (Bonds and Redeemable Preferred) $1.8 $1.7 $20.2(6) Total Contracted Third-Party Revenue ($Bn) $138(7) Phase I & II Bolt-on(3)
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– 15 30 45 60 75 90 2026 2027 2028 2029 APPENDIX | PRODUCTION OUTLOOK 23 1. Based on current production and COD schedules as outlined on page 22 2. The Company does not provide a reconciliation of forward-looking non-GAAP financial measures, due to the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliations. For further information on our use of non-GAAP metrics, please refer to the “Legal Disclaimer” at the beginning of the presentation 3. Represents expansions of 10.0 MTPA at CP2 and 6.4 MTPA at Plaquemines, subject to regulatory approval and gas supply as outlined on page 9 2027 production sensitivity is significantly impacted by the timing of production at CP2, which we expect to commence in H2 2027 We will continue to forward contract additional cargos on a rolling basis to match the timing of production while securing short- to medium-term contracts on post-COD available capacity 2028 and 2029 include the impact from the potential, initial bolt-on(3) expansions at CP2 and Plaquemines Notes: Commentary We aim to systematically contract our excess and commissioning cargos to lock in future cash flows, while potentially more than doubling the cargo count between 2025 (380 cargos) and 2028 (875 – 925 cargos) Production Outlook Range(1)(2) (MTPA) 500 - 518 575 - 625 875 - 925 1,125 – 1,175 $180MM - $210MM $650MM - $700MM $1,600MM - $1,650MM $2,450MM - $2,500MM Adj. EBITDA Impact from $1/ MMBtu Change 91% 75% 55% Number of Cargos 42% Contracted Capacity %
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APPENDIX | THIRD PARTY SPAs SIGNED TO DATE 24 2.0 20 years 2.0 20 years 1.5 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 3 years 0.5 5 years Total 10.0 Offtaker MTPA Tenor Calcasieu Pass Offtaker MTPA Tenor Plaquemines Offtaker MTPA Tenor CP2 4.0 20 years 2.0 20 years 4.0 20 years 2.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 0.7 20 years 0.3 4 years Total 20.0 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 3.0 20 years 1.0 20 years 1.5 20 years 2.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.0 20 years 1.5 20 Years Total 19.0 Atlantic-SEE LNG Notes: 1. Contracted third-party revenue is based on certain assumptions and is presented for illustrative purposes only and actual sales under our SPAs may differ materially from such illustrative operating results. See “Certain Other Measures” on slide 3 of this presentation 2. Currently contracted with Venture Global Commodities. To be assigned to CP2 upon the satisfaction of certain conditions, including Phase II COD 3. Reflects variation due to rounding UNIPEC ~0.5 5 years ~1.7 5 years ~0.85 5 years ~0.82 5 years Total 3.8(3) Offtaker MTPA Tenor Venture Global Commodities (2) (2) (2)
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- 20 40 60 80 100 Qatar Venture Global Cheniere Petronas ExxonMobil TotalEnergies Woodside Shell Novatek Sempra Chevron BP ADNOC Eni ConocoPhillips NextDecade Gazprom APPENDIX | GLOBAL LNG OWNERSHIP Venture Global’s 97% Ownership of LNG Assets Built or Under Development Uniquely Positions the Company Within the LNG Industry 25 Notes: 1. Includes ownership stake in operable LNG assets or projects under construction 2. Industry data per S&P Global Commodity Insights ©2024 by S&P Global Inc. Owned Operational/Commissioning Capacity (MTPA) Owned Bolt-on Expansion Capacity (MTPA) 85 MTPA with the Addition of Plaquemines and CP2 Bolt-on Expansions Owned Under Construction Capacity (MTPA)
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APPENDIX | CP2 SITE AND PIPELINE CONSTRUCTION PROGRESS CP2 Targeting Fastest Project to Production 26 CPX PipelineMarine TerminalPower Plants Pre-TreatmentLiquefaction Tanks
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APPENDIX | DIRECT SALES AND SHIPPING Venture Global Shipping Fleet Revenue Recognition Considerations Revenue associated with cargos exported on a Free on Board (“FOB”) basis is generally recognized when the LNG vessel is loaded and unmoors from one of our facilities. Revenue associated with cargos exported on a Delivered Ex-Ship (“DES”), Delivered Place Unloaded (“DPU”) or other delivered basis is generally recognized upon delivery of the LNG at the vessel destination. Occasionally, revenue associated with a cargo we export from our LNG terminals in a reporting period under such DES, DPU or other delivery terms will be recognized by the Company in a subsequent reporting period due to the time required for the vessel to successfully travel to its destination and unload its cargo. Notes: 1. Expected delivery dates for Venture Manatee and Venture Venice Ship Delivery Date Owned / Chartered Charter End 1. Venture Gator Jun-2024 Owned n.a. 2. Venture Bayou Jul-2024 Owned n.a. 3. Minerva Psara Sep-2024 Chartered 8/05/2027 4. Venture Acadia May-2025 Owned n.a. 5. Venture Creole Jul-2025 Owned n.a. 6. Venture Pelican Aug-2025 Owned n.a. 7. Venture Iberia Nov-2025 Owned n.a. 8. Venture Cameron Feb-2026 Owned n.a. 9. Venture Manatee(1) Q3 2026 Owned n.a. 10. Venture Venice(1) Q4 2026 Owned n.a. 27
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APPENDIX | SELECTED SIMPLIFIED ORGANIZATIONAL STRUCTURE(1) $5.5Bn Senior Secured Notes $0.6Bn Working Capital Facility $11.0Bn Senior Secured Notes Plaquemines LNG Pledgor, LLC Calcasieu Pass Pledgor, LLC Venture Global Calcasieu Pass, LLC (Calcasieu Pass LNG Facility Project Company) ~77%(2) Venture Global Plaquemines LNG, LLC (Plaquemines LNG Facility Project Company) $9.5Bn Senior Secured Notes $2.5Bn Senior Secured Credit Facility $2.1Bn Working Capital Facility $3.0Bn Perpetual Preferred Equity Venture Global, Inc. (NYSE:VG) Venture Global LNG, Inc. Notes: 1. Simplified organizational chart that does not include all legal entities. All ownership is 100% of the existing common stock of each entity listed unless otherwise noted. Reflects balances as of August 11, 2026 2. Stonepeak holds ~23% of common units of Calcasieu Pass Holdings, LLC 3. Remaining 50% owned by WhiteWater Midstream Venture Global Midstream Holdings, LLC CP2 LNG Pledgor, LLC Venture Global CP2 LNG, LLC (CP2 LNG Facility Project Company) $19.1Bn Senior Secured Credit Facility $1.6Bn Working Capital Facility 28 $1.8Bn Senior Secured Term Loan B Blackfin Pipeline, LLC ~50%(3) $2.0Bn Corporate Revolving Credit Facility Calcasieu Pass Funding, LLC $1.7Bn Phase I Equity Bridge Facility CP2 LNG Holdings, LLCCalcasieu Pass Holdings, LLC $1.5Bn Senior Secured Credit Facility Venture Global Shipping Holdings, LLC Venture Global Commodities, LLC $1.1Bn Senior Secured Term Loan B $0.4Bn Senior Secured Term Loan A $75MM Working Capital Facility
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APPENDIX | CONSOLIDATED ADJUSTED EBITDA RECONCILIATION Notes: 1. Consolidated Adjusted EBITDA is a non-GAAP metric. For definition and further information on our use of non-GAAP metrics, please refer to the "Legal Disclaimer" at the beginning of the presentation 2. Changes in fair value of forward natural gas supply contracts Consolidated Adjusted EBITDA ($MM) – Quarterly(1) and YTD(1) The following table reconciles our Consolidated Adjusted EBITDA to U.S. GAAP results for the three months ended June 30, 2026, and 2025 The following table reconciles our Consolidated Adjusted EBITDA to U.S. GAAP results for the six months ended June 30, 2026, and 2025 29 Three months ended June 30, 2026 2025 Net income attributable to common stockholders 1,347$ 368$ Net income attributable to non-controlling interests 70 107 Income tax expense 336 116 Loss on foreign currency transactions - - Loss on financing transactions 96 63 (Gain) loss on interest rate swaps (124) 112 Interest expense, net 489 310 Interest income (26) (38) Income from Operations 2,188$ 1,038$ Adjustments to reconcile income from operations to Adjusted EBITDA: Depreciation and amortization 260 267 Stock based compensation expense 15 11 Gain from changes in fair value of other derivatives(2) 28 77 Consolidated Adjusted EBITDA 2,491$ 1,393$ Six months ended June 30, 2026 2025 Net income attributable to non-controlling interests 1,835$ 764$ Net income attributable to non-controlling interests 207 228 Income tax expense 447 267 Loss on foreign currency transactions 1 - Loss on financing transactions 109 63 (Gain) loss on interest rate swaps (139) 304 Interest expense, net 933 586 Interest income (54) (94) Income from Operations 3,339$ 2,118$ Adjustments to reconcile income from operations to Adjusted EBITDA: Depreciation and amortization 511 483 Stock based compensation expense 27 23 Loss from changes in fair value of other derivatives(2) (14) 115 Consolidated Adjusted EBITDA 3,863$ 2,739$
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30 CONTACTS Investor Contacts Ben Nolan ir@venturegloballng.com Media Contact Shaylyn Hynes press@venturegloballng.com