Investor Presentaiton

U.S. NGL Supply Growth Expected to Peak by 2030 U.S. NGL supply growth is expected to decline by 2030 despite the continued growth in demand well into the 2040's U.S. Shale Crude and Condensate Production Forecast to 2040 (MMBbl/d) 12 10 8 6 4 2 0 2010 Other Eagle Ford Bakken "Peak Shale" Permian 2020 2025 2030 2035 2040 2015 Year on Year Growth by Basin (MMBbl/d 2.0 "Peak Shale" 1.0 0.0 -1.0 2011 2016 2021 2026 2031 2036 2041 | Antero Resources (NYSE: AR) Source: S&P Global Commodity Insights. 28

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