Haynesville Core Operations and ESG Overview

Appalachia - Core Dry Gas and Liquids Position Pennsylvania Operational Plan(¹) Rigs Frac fleets 2023E Appalachia 3 Net Acres: 766,000 Gas 80% 20% Liquids 2023E Net Production: ~2.8 Bcfe/day (1) 2 Wells drilled 53-58 % Marcellus liquids rich 65% Wells completed 64-69 % Marcellus liquids rich 65% Ohio Wells to sales 68-73 % Marcellus liquids rich 65% Average lateral length >15,500 Base decline <25% West Virginia swn Southwestern EnergyⓇ Capital Program (1) 2023E SWN Acreage D&C capital $840MM $950MM $/lateral foot $900 - $950 57.5% 40% Cost Structure ($/Mcfe) LOE 2023E $1.18 $1.24 TOTI $0.13 $0.17 Natural Gas Discount to NYMEX ($/Mcf)(2) ($0.75 - $0.90) $2.1B D&C (1) 4.6 Bcfe/d(¹) 42.5% 60% Haynesville Appalachia 1) Based on midpoint of guidance and related activity levels. 2) Discount to Henry Hub including transportation costs and heating content adjustment. 12

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