Investor Presentaiton

Low Decline Rate Leads to Lower Maintenance Capital (Percent Decline) Antero Decline Rates vs Peers 1-Year 3-Year 5-Year 5-yr 56% 3-yr 44% 1-yr 23% Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Antero Resources | Antero Resources (NYSE: AR) Source: April 2023 Enverus Intelligence Research note. Note: Represents U.S. Onshore Boe annual decline rates. Peers include Aethon, Ascent, CHK, CNX, CRK, EQT, RRC and SWN.

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