Expand Energy — Feb 17, 2026 release

Fourth Quarter 2025 Highlights • Net cash provided by operating activities of $956 million, more than 150% increase from the fourth quarter of 2024 • Net income of $553 million, or $2.30 per fully diluted share; adjusted net income (1) of $481 million, or $2.00 per diluted share • Adjusted EBITDAX (1) of $1,425 million • Produced ~7.40 Bcfe/d net (92% natural gas), an increase of 15% compared to the fourth quarter of 2024 Full-Year 2025 Highlights • Net cash provided by operating activities of $4,575 million • Net income of $1,819 million, or $7.57 per fully diluted share; adjusted net income (1) of $1,467 million, or $6.10 per diluted share • Adjusted EBITDAX (1) of $5,078 million • Produced ~7.18 Bcfe/d net (92% natural gas) • Reduced gross debt by ~$660 million in 2025 and ~$1.25 billion since merger close • Returned $865 million to shareholders in the form of quarterly base dividend, variable dividend, and share repurchases 2026 Outlook • Quarterly base dividend of $0.575 per common share to be paid in March 2026, 20th straight quarter paying a dividend • Expect to produce ~7.5 Bcfe/d for ~$2.85 billion of capital, inclusive of ~$75 million of Western Haynesville appraisal spend • Prioritizing the balance sheet with continued debt reduction of at least $1 billion; shareholder returns through base dividend and opportunistic share repurchases (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 release. “In 2025, Expand Energy took clear action to meet the world’s need for affordable, reliable, lower carbon energy. In our first year since announcing the merger, we exceeded our synergy targets and improved our Haynesville breakevens by approximately 15%, while achieving double‑digit production growth,” said Mike Wichterich, Interim President and Chief Executive Officer of Expand Energy. “This year-over-year improvement reflects our scale, financial strength, and capital efficiency. We’re creating more value from every molecule, and we’re in an advantaged position to meet growing demand in the power, industrial, and LNG markets. In 2026, we expect to deliver higher volumes with less capital, leverage our productive capacity and flexibility to manage volatility, and consistently grow free