Baird Investment Banking Pitch Book slide image

Baird Investment Banking Pitch Book

ANTERO RESOURCES PRICE PERFORMANCE - LAST 6 MONTHS 30% 20% 10% 0% (10%) (20%) (30%) Analyst Day Announced - Analyst Day AR 6.7% EQT Gas Peers E&P Index 2.3% (3.7%) 13.5% AR 11/29/17: Analyst Day announcement (40%) 10/16/17 11/15/17 Source: S&P Capital IQ and SEC filings as of April 17, 2018. Note: "Gas Peers includes COG, EQT, GPOR, RRC and SWN. AR 1.1% 12/16/17 EQT Analyst Day - 13D Filing EQT Gas Peers E&P Index 1.0% (4.0%) (0.7%) 1/18/18: Analyst Day 01/15/18 Gas Peers 1/29/18: Sailing Stone files 13D 02/15/18 AR 2.0% Confidential 13D Filing - Present EQT (15.9%) E&P Index 03/17/18 Gas Peers E&P Index (14.8%) (2.9%) 2/26/18: Announced formation of Special Committee BAIRD 13% E&P Index 4% AR (21%) EQT (22%) Gas Peers 04/17/18 Project Bronco | Page 4
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