Antero Resources — Apr 30, 2025 release

  Lean Gas Hedge Program   Antero added new natural gas collars for 2026 with the amounts tied to the expected volumes from its lean gas (approximately 1200 BTU or less) pads planned through the end of 2026. Antero’s portfolio includes lean gas development in its capital budget for high gas deliverability and midstream infrastructure availability. These wide collars lock in attractive rates of returns with a floor price of $3.07 per MMBtu with a ceiling of $5.96 per MMBtu. Antero did not enter into any new natural gas hedges for 2025. For more detail please see the presentation titled “Hedges and Guidance Presentation” on Antero’s website.       Natural Gas MMBtu/d     Weighted Average Index Price ($/MMBtu)     % of Estimated Natural Gas Production (1)   2025 NYMEX Henry Hub Swap     100,000     $ 3.12       4 %             Weighted Average Index     % of Estimated       Natural Gas (MMBtu/d)     Floor Price ($/MMBtu)     Ceiling Price ($/MMBtu)     Natural Gas Production (1)   2026 NYMEX Henry Hub Collars     320,000     $ 3.07     $ 5.96       14 %   (1) Based on the midpoint of 2025 natural gas guidance (including BTU upgrade)   2     First Quarter 2025 Financial Results   Net daily natural gas equivalent production in the first quarter averaged 3.4 Bcfe/d, including 206 MBbl/d of liquids. Antero’s average realized natural gas price before hedges was $4.01 per Mcf, a $0.36 per Mcf premium to the benchmark index price. Antero’s average realized C3+ NGL price before hedges was $45.65 per barrel, a $1.66 per barrel premium to the benchmark ind