Expand Energy — Oct 28, 2025 release

A detailed breakdown of third quarter production, capital expenditures and activity can be found in the supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations. 2025 Synergy, Capital and Operating Outlook Given the significant operational efficiency gains recognized through the Company's 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. Full year 2025 net production is expected to be 7.15 Bcfe/d, approximately 50 MMcfe/d higher than the prior production mid-point. Expand Energy reduced its full year capital investment expectations by approximately $75 million to $2.85 billion, inclusive of approximately $250 million to build productive capacity by exiting 2025 with approximately 12 rigs. Should market conditions warrant, this incremental capital investment positions the Company to efficiently grow production to approximately 7.5 Bcfe/d in 2026. Expand Energy acquired ~7,500 acres of undeveloped Core Marcellus for $57 million during the third quarter, adding approximately 425,000 lateral feet for the equivalent of greater than 40 near-term development locations in Southwest Appalachia. Additionally, the Company has established a 75,000+ net-acre position in Western Haynesville through targeted leasing and an undeveloped leasehold acquisition, including cash consideration of approximately $117 million in the second half of 2025 and approximately $29 million of capital carry expected to be inc