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Investor Presentaiton

Diverse Production Mix & Export Exposure = Premium Pricing Liquids Production - 2023 Guidance (MBbl/d), 190 % of Natural Gas Sold Out of Basin (1) (2023E) 100% ~40% Exported 75% to LNG Fairway RRC SWN EQT CHK CNX 2023E Liquids % of Total Revenue 46% RRC CHK SWN CNX EQT Source: Company presentations and filings. RRC (2) EQT SWN CNX CHK) Natural Gas Price Differential to Henry Hub ($/Mcf) $0.10 (2023 Guidance) ($0.35) ($0.40) ($0.43) ($0.48) ($0.63) CHK RRC CNX EQT SWN Note: Liquids production includes C2+ NGLS and oil. Exports include -50% of C3+ NGLs and 11.5 MBbl/d of ethane. | Antero Resources (NYSE: AR)1) Natural gas sold out of basin refers to all gas sold using pricing indices other than those published for the TETCO M2 & Eastern Gas markets in Appalachia. 2) Represents CHK and SWN's Appalachia firm transport volumes only.
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