Expand Energy — Jul 29, 2025 release

• Net cash provided by operating activities of $1,322 million • Net income of $968 million, or $4.02 per fully diluted share; adjusted net income (1) of $265 million, or $1.10 per share • Adjusted EBITDAX (1) of $1,176 million • Produced ~7.20 Bcfe/d net (92% natural gas) • Delivered the highest average drilled footage per day in all three business units • Reduced full year 2025 drilling and completion capital expenditures guidance by ~$100 million to achieve ~$2.9 billion total capital expenditures • Increased annual synergy outlook to $600 million by year end 2026 • Announced ~$425 million of incremental free cash flow in 2025, primarily driven by improved business performance • Increasing 2025 net debt paydown to $1.0 billion • Returning $585 million to shareholders in the form of quarterly base dividend, variable dividend, and share repurchases in the first half of 2025 • Released inaugural Sustainability Report for the combined company (1) Definitions of non-GAAP financial measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure are included at the end of this news release. “Expand Energy was created to make a more durable and efficient business,” said Nick Dell’Osso, Expand Energy’s President and Chief Executive Officer. “We are delivering more for less, outperforming every expectation set when we announced our merger, including an approximate 50% increase to run-rate synergies. Importantly, our outperformance is repeatable, achieving approximately 30% more free cash flow in 2025 and approximately 20% more in 2026 compared to our expectations at the beginning of the year. This significant improvement further demonstrates how our culture of continuous improvem