Expand Energy — Jul 29, 2025 release

A detailed breakdown of second quarter production, capital expenditures and activity can be found in supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations. 2025 Annual Synergy, Capital and Operating Outlook Given the significant operational efficiency gains recognized through our integration efforts, Expand Energy is on track to capture approximately $500 million in annual synergies in 2025. The Company anticipates ultimately achieving $600 million in annual synergies by year end 2026. Expand Energy now expects to spend $100 million less capital in 2025, running approximately 11 rigs and investing approximately $2.6 billion yielding an estimated daily production of approximately 7.1 Bcfe/d. The Company intends to build incremental productive capacity for an additional $275 million by exiting 2025 with approximately 12 rigs. Should market conditions warrant, this incremental capital investment positions the Company to efficiently grow production from a year-end 2025 exit rate of approximately 7.2 Bcfe/d to average approximately 7.5 Bcfe/d in 2026. A detailed breakdown of 2025 annual synergy, capital, and operating outlook can be found in supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations. Shareholder Returns Update Expand Energy is increasing its net debt paydown from $500 million to $1 billion to further strengthen its balance sheet and to create more balance sheet capacity at cycle lows. For the second quarter, the Company will return $448 million to shareholders in the form of a quarterl