Expand Energy — Apr 28, 2026 release

A detailed breakdown of first quarter production, capital expenditures and activity can be found in the supplemental slides which have been posted at https://investors.expandenergy.com/events-presentations. 2026 Capital and Operating Outlook In 2026, Expand Energy expects to run 11 to 12 rigs and invest approximately $2.85 billion yielding an estimated daily production of approximately 7.5 Bcfe/d. A detailed breakdown of 2026 annual capital and operating outlook can be found in the supplemental slides. Delfin Sales and Purchase Agreement On April 22, 2026, we executed a Sales and Purchase Agreement (“SPA”) for long-term liquefaction offtake with Delfin FLNG 1 LLC, subject to final investment decision. Under the SPA, we will purchase approximately 1.15 million tonnes of LNG per annum from Delfin FLNG 1 LLC at a Henry Hub price with a contract targeted start date in 2031. The previously announced SPAs with Delfin and Gunvor Group Ltd have been terminated. Shareholder Returns Update Expand Energy expects to utilize free cash flow generated during 2026 to further strengthen its balance sheet in order to create more capacity at cycle lows while also returning cash to shareholders through the base dividend and share repurchases. Year-to-date through April 24, 2026, the Company has redeemed approximately $1.3 billion of gross debt and executed $150 million of share repurchases. The Company plans to pay its quarterly base dividend of $0.575 per share on June 4, 2026 to shareholders of record at the close of busines