CHENIERE ENERGY, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Year Ended December 31, 2018 2017 2016 Cash flows from operating activities Net income (loss) $ 1,200 $ 563 $ (665 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization expense 449 356 174 Share-based compensation expense 113 91 101 Non-cash interest expense 74 75 77 Amortization of debt issuance costs, deferred commitment fees, premium and discount 69 69 62 Loss on modification or extinguishment of debt 27 100 135 Total losses (gains) on derivatives, net 51 62 (28) Net cash provided by (used for) settlement of derivative instruments 17 (106 ) (45 ) Impairment expense and loss on disposal of assets 8 19 13 Other (10 ) (4 ) 4 Changes in operating assets and liabilities: Accounts and other receivables (131 ) (139 ) (207 ) Accounts receivable—related party (2) (2) — Inventory (73 ) (73 ) (119 ) Accounts payable and accrued liabilities 188 225 64 Deferred revenue 26 34 42 Other, net (16) (39) (12) Net cash provided by (used in) operating activities 1,990 1,231 (404 ) Cash flows from investing activities Property, plant and equipment, net (3,643) (3,357) (4,356) Investment in equity method investment (25 ) (41 ) — Other 14 17 (57) Net cash used in investing activities (3,654 ) (3,381 ) (4,413 ) Cash flows from financing activities Proceeds from issuances of debt 4,285 6,854 12,865 Repayments of debt (1,391 ) (3,632 ) (7,671 ) Debt issuance and deferred financing costs (66) (89) (172) Debt extinguishment costs (17 ) — (14 ) Distributions and dividends to non-controlling interest (576) (185) (80) Payments related to tax withholdings for share-based compensation (20 ) (12 ) (20 ) Other (8) — — Net cash provided by financing activities 2,207 2,936 4,908 Net increase in cash, cash equivalents and restricted cash 543 786 91 Cash, cash equivalents and restricted cash—beginning of period 2,613 1,827 1,736 Cash, cash equivalents and restricted cash—end of period $ 3,156 $ 2,613 $ 1,827 Balances per Consolidated Balance Sheets: The accompanying notes are an integral part of these consolidated financial statements. 67 December 31, 2018 2017 Cash and cash equivalents $ 981 $ 722 Restricted cash 2,175 1,880 Non-current restricted cash — 11 Total cash, cash equivalents and restricted cash $ 3,156 $ 2,613