EQT Corporation

“Additionally, our operations are capital intensive.”

Annual report unknown yearA · The company itself

“There are many environmental, energy, financial, real property and other regulations that we are required to comply with in the context of conducting our operations; otherwise, we may be exposed to fines, penalties, investigations, litigation or other legal proceedings.”

Annual report unknown yearA · The company itself

“Additionally, negative public perception of us or the natural gas industry, or increasing consumer demand for alternatives to natural gas, could adversely impact our earnings, cash flows and financial position. •Risks Associated with Strategic Transactions.”

Annual report unknown yearA · The company itself

“Advanced planning, a prerequisite to pursuing combo-development, facilitates the delivery of bulk hydraulic fracturing sand and piped fresh and recycled water and provides the ability to continuously meet completions supply needs and the use of environmentally friendly technologies such as electric hydraulic fracturing powered by natural gas.”

Annual report unknown yearA · The company itself

“Our synchronized development plan supports an integrated business model that keeps development costs low and limits our need to hedge future production.”

Annual report unknown yearA · The company itself

“Risks Associated with Natural Gas Upstream, Midstream and Processing Operations Drilling for, producing, gathering, transmitting, storing and processing natural gas are high-risk and costly activities with many uncertainties.”

Annual report unknown yearA · The company itself

“Furthermore, we may construct facilities to capture anticipated future growth in production and/or demand in a region in which such growth does not materialize or is delayed beyond our expectations. As a result, new facilities may not be able to attract enough throughput to achieve our expected investment return.”

Annual report unknown yearA · The company itself

“Our drilling locations are scheduled out over many years, making them susceptible to uncertainties that could materially alter the occurrence or timing of when they are drilled, if at all. Our management team has specifically identified and scheduled certain well locations as an estimation of our future multi-year drilling activities on our existing acreage. These well locations represent a significant part of our business strategy.”

Annual report unknown yearA · The company itself

“Our ability to drill and develop these locations depends on a number of uncertainties, including natural gas, NGLs and oil prices; the availability and cost of capital; drilling and production costs; the availability of drilling services and equipment; drilling results; lease expirations; topography; gathering system and pipeline transportation costs and constraints; access to and availability of sand and water and corresponding materials sourcing and distribution systems, including railroads; coordination with coal mining; regulatory approvals; and other factors.”

Annual report unknown yearA · The company itself

“Because the rate of production from natural gas and oil wells, and associated NGLs, generally declines as reserves are depleted, our future success depends upon our ability to develop additional reserves that are economically recoverable and to optimize existing well production, and our failure to do so may reduce our earnings.”

Annual report unknown yearA · The company itself

“Our drilling and subsequent maintenance of wells can involve significant risks, including those related to timing, cost overruns and operational inefficiency, and these risks can be affected by the availability of capital, leases, rigs, equipment, a qualified work force, and adequate capacity for the treatment and recycling or disposal of wastewater generated in our operations, as well as weather conditions, natural gas, NGLs and oil price volatility, regulatory approvals, title and property access problems, geology, equipment failure or accidents and other factors.”

Annual report unknown yearA · The company itself

“Low natural gas, NGLs and oil prices may further limit the types of reserves that we can develop and produce economically.”

Annual report unknown yearA · The company itself

“Except to the extent that we acquire additional properties containing proved reserves, conduct successful exploration and development activities or, through engineering studies, identify additional behind-pipe zones or secondary recovery reserves, our proved reserves will decline as reserves are produced. Our future natural gas, NGLs and oil production, therefore, is highly dependent upon our level of success in acquiring or finding additional reserves that are economically recoverable.”

Annual report unknown yearA · The company itself

“Table of Contents Our proved reserves are estimates that are based on many assumptions that may prove to be inaccurate. Any significant change in these underlying assumptions will greatly affect the quantities and present value of our reserves.”

Annual report unknown yearA · The company itself

“The prices for natural gas, NGLs and oil have historically been volatile and have been particularly volatile in recent years. The daily spot prices for NYMEX Henry Hub natural gas ranged from a high of $9.86 per MMBtu to a low of $2.65 per MMBtu between the period from January 1, 2025 through December 31, 2025, and the daily spot prices for NYMEX WTI oil ranged from a high of $80.73 per barrel to a low of $55.44 per barrel during the same period.”

Annual report unknown yearA · The company itself

“Additionally, in recent years, volatility in natural gas prices and prolonged periods of high market prices for natural gas have led to calls by certain politicians to impose a windfall profits tax on natural gas producers, limit or prohibit the volume of LNG exports out of the United States and similar restrictive regulations on natural gas development and sales. While no such regulations have been passed in the United States, continued natural gas price volatility or prolonged high natural gas prices could result in the imposition of certain regulations directed at driving down the market price for natural gas.”

Annual report unknown yearA · The company itself

“Quantitative and Qualitative Disclosures About Market Risk Commodity Price Risk and Derivative Instruments Our primary market risk exposure is the volatility of future prices for natural gas and NGLs. Due to the volatility of commodity prices, we are unable to predict future potential movements in the market prices for natural gas and NGLs at our ultimate sales points and, thus, cannot predict the ultimate impact of prices on our operations.”

Annual report unknown yearA · The company itself

“Prolonged low, or significant, extended declines in, natural gas and NGLs prices could adversely affect, among other things, our development plans, which would decrease the pace of development and the level of our proved reserves and, similarly, could adversely affect timing of development of additional reserves and production that is accessible by our pipeline and storage assets and limit growth in, or may reduce the demand for, and usage of, our gathering or transmission and storage services.”

Annual report unknown yearA · The company itself

“Price declines and sustained periods of low natural gas and NGLs prices could also have an adverse effect on the creditworthiness of our gathering, transmission and storage customers and related ability to pay firm reservation fees under long-term contracts.”

Annual report unknown yearA · The company itself

“Increases in natural gas and NGLs prices may be accompanied by, or result in, increased well drilling costs, increased production taxes, increased LOE, increased volatility in seasonal gas price spreads for our storage assets and increased end-user conservation or conversion to alternative fuels.”

Annual report unknown yearA · The company itself

“Strategy Our core business strategy is to be the leading low-cost producer of natural gas with a business model designed to generate durable free cash flow across commodity price cycles.”

Annual report unknown yearA · The company itself

“Our operational strategy centers on the execution of large-scale, multi-pad development projects, which we refer to as combo-development. Combo-development generates value across all levels of the reserves development process by maximizing operational and capital efficiencies.”

Annual report unknown yearA · The company itself

“Combo-development also provides meaningful environmental and social benefits when compared to more fragmented development approaches. Our operational strategy is integrated with our sustainability framework, which emphasizes continuous improvement in emissions performance, data quality and transparency, workforce development and stakeholder engagement. By concentrating development activity, combo-development results in fewer well sites, reduced truck traffic, lower fuel consumption, shorter and fewer periods of surface disturbance and reduced incremental midstream construction, contributing to improved safety performance and reduced environmental and community impacts.”

Annual report unknown yearA · The company itself

“Further, our integrated business model provides resilience across pricing environments. In periods of low commodity prices, our midstream assets support durable free cash flow due to their annuity-like nature of generating stable, predictable, long-term revenue. In periods of high commodity prices, our low-cost structure permits lower levels of financial hedging, thus providing increased exposure to higher natural gas prices.”

Annual report unknown yearA · The company itself

“Correspondingly, we have implemented a robust capital allocation strategy directed at responsibly developing our assets and positioning us for organic growth, while also returning capital to our shareholders through a combination of debt retirements, a base dividend and opportunistic share repurchases.”

Annual report unknown yearA · The company itself

“Additionally, we cannot be certain that we will be able to successfully execute combo-development projects, LNG export initiatives, midstream growth projects, data center development or other strategic projects at the pace and scale that we project, which may delay or reduce our production, reserves, revenues or expected benefits therefrom.”

Annual report unknown yearA · The company itself

“Given that our primary product and source of revenue is the gathering, transmission and sale of natural gas and NGLs, one of our most material risks is the commodity market and the price of natural gas and NGLs, which is often volatile.”

Annual report unknown yearA · The company itself

“Our primary business involves the exploration, production, gathering, transmission and sale of hydrocarbons, and in particular, natural gas. Consequently, our revenue, profitability, future rate of growth, liquidity and financial position depend upon the market prices for natural gas and, to a lesser extent, NGLs and oil.”

Annual report unknown yearA · The company itself

“Our business is capital intensive. We make and expect to continue to make substantial capital expenditures for the development and acquisition of natural gas, NGLs and oil reserves, as well as processing facilities, pipelines and related infrastructure.”

Annual report unknown yearA · The company itself

“As the only large-scale, integrated natural gas producer in the United States, we believe we are well positioned to excel during times of market volatility and to serve growing sources of demand, including power generation, industrial consumption, domestic data center development and LNG exports.”

Annual report unknown yearA · The company itself

“Additionally, we cannot be certain that we will be able to successfully execute combo-development projects, LNG export initiatives, midstream growth projects, data center development or other strategic projects at the pace and scale that we project, which may delay or reduce our production, reserves, revenues or expected benefits therefrom.”

Annual report unknown yearA · The company itself

“As the only large-scale, integrated natural gas producer in the United States, we believe we are well positioned to excel during times of market volatility and to serve growing sources of demand, including power generation, industrial consumption, domestic data center development and LNG exports.”

Annual report unknown yearA · The company itself

“This strategy relies on our substantial inventory of core drilling locations, our vast midstream infrastructure spanning across the Appalachian Basin, our investment grade credit metrics, the low emissions profile of our operations and our best-in-class team and culture.”

Annual report unknown yearA · The company itself

“Further, we operate in the Appalachian Basin, and the majority of our assets, physical infrastructure and midstream customers are also located in the Appalachian Basin, making us vulnerable to risks associated with operating primarily in one major geographic area.”

Annual report unknown yearA · The company itself

“We periodically engage in acquisitions, dispositions and other strategic transactions, including joint ventures. These transactions involve various inherent risks, such as our ability to obtain the necessary regulatory and third-party approvals; the timing of and conditions imposed upon us by regulators in connection with such approvals; the assumption of, or retaining, potential environmental or other liabilities; and our ability to realize the benefits and synergies expected from such transactions within our projected timeframe or at all.”

Annual report unknown yearA · The company itself

“Our primary business involves the exploration, production, gathering, transmission and sale of hydrocarbons, and in particular, natural gas. Consequently, our revenue, profitability, future rate of growth, liquidity and financial position depend upon the market prices for natural gas and, to a lesser extent, NGLs and oil.”

Annual report unknown yearA · The company itself

“Natural gas liquids include primarily ethane, propane, butane and isobutane.”

Annual report unknown yearA · The company itself

“As the only large-scale, integrated natural gas producer in the United States, we believe we are well positioned to excel during times of market volatility and to serve growing sources of demand, including power generation, industrial consumption, domestic data center development and LNG exports.”

Annual report unknown yearA · The company itself

“We may also face increased litigation risks arising from climate-related disclosures required by regulations.”

Annual report unknown yearA · The company itself

“Accordingly, authorizations needed for our or the MVP Joint Venture's projects, including any expansion of MVP Mainline, MVP Southgate, MVP Boost or other extensions, may not be granted or, if granted, such authorizations may include burdensome or expensive conditions or may later be stayed or revoked or vacated, as was repeatedly the case with the construction of MVP Mainline. Significant delays in the regulatory approval process for projects, as well as stays and losses of critical authorizations and permits, should they be experienced, have the potential to significantly increase costs, delay targeted in-service dates and/or affect operations for projects (among other adverse effects), as has happened with MVP Mainline and the originally certificated MVP Southgate project, and could occur in the future in the case of authorizations required for our or the MVP Joint Venture's current or future projects, including in respect of developing expansions or extensions, such as expansion of MVP Mainline, MVP Southgate and MVP Boost.”

Annual report unknown yearA · The company itself

“Our and the MVP Joint Venture's natural gas gathering, transmission and storage services, as applicable, are subject to extensive regulation by federal, state and local regulatory authorities. Changes in or additional regulatory measures adopted by such authorities, and related litigation, could have a material adverse effect on our business, financial condition, results of operations, and cash flows.”

Annual report unknown yearA · The company itself

“Our and the MVP Joint Venture's interstate natural gas transmission and storage operations, as applicable, are regulated by the FERC under the NGA and the NGPA and the regulations, rules and policies promulgated under those and other statutes. Our and the MVP Joint Venture's FERC-regulated operations are pursuant to tariffs approved by the FERC that establish rates (other than market-based rate authority), cost recovery mechanisms and terms and conditions of service to our customers.”

Annual report unknown yearA · The company itself

“Table of Contents Pursuant to the NGA, existing interstate transmission and storage rates, terms and conditions of service, and contracts may be challenged by complaint and are subject to prospective change by the FERC. Additionally, rate increases, changes to terms and conditions of service and contracts proposed by a regulated interstate pipeline may be protested and such actions can be delayed and may ultimately be rejected by the FERC.”

Annual report unknown yearA · The company itself

“Any changes to the FERC's policies regarding the natural gas industry may have an impact on us, including the FERC's approach to pro-competitive policies as it considers matters such as interstate pipeline rates and rules and policies that may affect rights of access to natural gas transmission capacity and transmission and storage facilities. The FERC and Congress may continue to evaluate changes in the NGA or new or modified FERC regulations or policies that may impact our or the MVP Joint Venture's operations and affect our or the MVP Joint Venture's ability to construct new facilities and the timing and cost of such new facilities, as well as the rates charged to our or the MVP Joint Venture's customers and the services provided.”

Annual report unknown yearA · The company itself

“Our and the MVP Joint Venture's significant construction projects generally require review by multiple governmental agencies, including state and local agencies, whose cooperation is important in completing the regulatory process on schedule. Any agency's delay in the issuance of, or refusal to issue, authorizations or permits, issuance of such authorizations or permits with unanticipated conditions, or the loss of a previously-issued authorization or permit, for one or more of these projects may mean that we will not be able to pursue these projects or that they will be constructed in a manner or with capital requirements that we did not anticipate (as was the case with MVP Mainline).”

Annual report unknown yearA · The company itself

“Failure to comply with applicable provisions of the NGA, the NGPA, federal pipeline safety laws and certain other laws, as well as with the regulations, rules, orders, restrictions and conditions associated with these laws, could result in the imposition of administrative and criminal remedies and civil penalties. For example, the FERC is authorized to impose civil penalties of up to approximately $1.6 million (as of February 11, 2026 and adjusted periodically for inflation) per violation, per day for violations of the NGA, the NGPA or the rules, regulations, restrictions, conditions and orders promulgated under those statutes.”

Annual report unknown yearA · The company itself

“The cost and financial impact of compliance will vary and depend on factors such as the number and extent of maintenance determined to be necessary as a result of the application of our integrity management programs, and such costs and financial impact could have a material adverse effect on us. Further, our pipeline and storage integrity management programs depend in part on inspection tools and methodologies developed, maintained, enhanced and applied, and certain testing conducted, by certain third parties, many of which are widely utilized within the natural gas industry.”

Annual report unknown yearA · The company itself

“Regulations related to the protection of wildlife could adversely affect our ability to conduct drilling activities and pipeline construction in some of the areas where we operate. Our operations can be adversely affected by regulations designed to protect various wildlife, including threatened and endangered species and their critical habitat.”

Annual report unknown yearA · The company itself

“If these or any other pipeline connections or facilities were to become unavailable for current or future volumes of natural gas due to repairs, damage to the facility, lack of capacity or any other reason, our or the MVP Joint Venture's ability to operate efficiently and ship natural gas to end markets could be restricted, as has occurred in the past. Any temporary or permanent interruption at any key pipeline interconnect or facility could have a material adverse effect on our business, financial condition, cash flows, and results of operations.”

Annual report unknown yearA · The company itself

“We depend on third-party pipelines and other facilities that provide receipt and delivery options to and from our transmission and storage systems. For example, our storage system and the MVP Joint Venture's transmission system interconnect, as applicable, with the following third-party interstate pipelines: Transcontinental Gas Pipe Line Company, LLC, East Tennessee Natural Gas, Texas Eastern, Eastern Gas Transmission, Columbia Gas Transmission, Tennessee Gas Pipeline Company, Rockies Express Pipeline LLC, National Fuel Gas Supply Corporation and ET Rover Pipeline, LLC, as well as multiple distribution companies.”

Annual report unknown yearA · The company itself

“Consequently, legislation and regulatory programs addressing climate change or methane and other GHG emissions could have an adverse effect on our business, financial condition and results of operations.”

Annual report unknown yearA · The company itself

“Many scientists have concluded that increasing concentrations of GHGs in the Earth's atmosphere produce climate changes that may have significant physical effects, such as increased frequency and severity of storms, fires, floods, droughts, and other extreme climatic events. If any such effects were to occur, they have the potential to cause physical damage to our assets or affect the availability of water and thus could have an adverse effect on our operations. Potential adverse effects could include disruption of our production activities; delays in getting our and our customers' produced natural gas and NGLs to market or possibly shut-in as a result of physical damage to pipelines, other midstream infrastructure and processing facilities; increases in our costs of operation or reductions in the efficiency of our operations; reduced availability of electrical power, road accessibility, and transportation facilities; impacts on our personnel, supply chain, distribution chain or customers; and potentially increased costs for insurance coverages in the aftermath of such effects.”

Annual report unknown yearA · The company itself

“In addition, enhanced climate disclosure could accelerate the trend of certain stakeholders and lenders restricting or seeking more stringent conditions with respect to their investments in certain carbon-intensive sectors. Consequently, legislation and regulatory programs addressing climate change or methane and other GHG emissions could have an adverse effect on our business, financial condition and results of operations.”

Annual report unknown yearA · The company itself

“The loss of key personnel could adversely affect our ability to execute our strategic, operational and financial plans.”

Annual report unknown yearA · The company itself

“Likewise, as a digitally-focused organization, we seek employees with a high degree of both technical skill and digital literacy, and it can be difficult to attract and retain personnel who satisfy these criteria.”

Annual report unknown yearA · The company itself

“Our drilling and subsequent maintenance of wells can involve significant risks, including those related to timing, cost overruns and operational inefficiency, and these risks can be affected by the availability of capital, leases, rigs, equipment, a qualified work force, and adequate capacity for the treatment and recycling or disposal of wastewater generated in our operations, as well as weather conditions, natural gas, NGLs and oil price volatility, regulatory approvals, title and property access problems, geology, equipment failure or accidents and other factors.”

Annual report unknown yearA · The company itself

“Increases in natural gas, NGLs and oil prices may be accompanied by or result in increased well drilling costs, increased production taxes, increased LOE, increased volatility in seasonal gas price spreads for our storage assets and increased end-user conservation or conversion to alternative fuels.”

Annual report unknown yearA · The company itself

“The unavailability or high cost of additional drilling rigs, completion services, equipment, supplies, personnel, and oilfield services could adversely affect our ability to execute our operating and development plans within our budget and on a timely basis.”

Annual report unknown yearA · The company itself

“The demand for qualified and experienced field personnel to drill wells and conduct field operations, geologists, geophysicists, engineers, and other professionals in the natural gas and oil industry can fluctuate significantly, often in correlation with natural gas and oil prices, causing periodic shortages or higher costs. Historically, there have been shortages of personnel and equipment as demand for personnel and equipment has increased along with the number of wells being drilled.”

Annual report unknown yearA · The company itself

“In addition, the success of our operations will depend, in part, on our ability to identify, attract, develop and retain experienced personnel. There is competition within our industry for experienced technical personnel and certain other professionals, which could increase the costs associated with identifying, attracting and retaining such personnel.”

Annual report unknown yearA · The company itself

“Pressures on the market as a whole, or our specific financial position – whether due to depressed commodity prices, increased prices of raw materials such as iron, sand and water, our hedge positions, leverage, credit ratings, tax law changes or otherwise – could make it difficult for us to obtain the funding necessary to conduct our operations. •Risks Associated with Our Human Capital, Technology and Other Resources and Service Providers.”

Annual report unknown yearA · The company itself

“Advanced planning, a prerequisite to pursuing combo-development, facilitates the delivery of bulk hydraulic fracturing sand and piped fresh and recycled water and provides the ability to continuously meet completions supply needs and the use of environmentally friendly technologies such as electric hydraulic fracturing powered by natural gas.”

Annual report unknown yearA · The company itself

“Our ability to drill and develop these locations depends on a number of uncertainties, including natural gas, NGLs and oil prices; the availability and cost of capital; drilling and production costs; the availability of drilling services and equipment; drilling results; lease expirations; topography; gathering system and pipeline transportation costs and constraints; access to and availability of sand and water and corresponding materials sourcing and distribution systems, including railroads; coordination with coal mining; regulatory approvals; and other factors.”

Annual report unknown yearA · The company itself

“Our drilling and subsequent maintenance of wells can involve significant risks, including those related to timing, cost overruns and operational inefficiency, and these risks can be affected by the availability of capital, leases, rigs, equipment, a qualified work force, and adequate capacity for the treatment and recycling or disposal of wastewater generated in our operations, as well as weather conditions, natural gas, NGLs and oil price volatility, regulatory approvals, title and property access problems, geology, equipment failure or accidents and other factors.”

Annual report unknown yearA · The company itself

“Growing geopolitical instability and armed conflicts (including in Venezuela, Russia and Ukraine, and the Middle East) has resulted in energy infrastructure becoming a more prominent target of attack by terrorists and conflicting countries. Natural gas, NGLs and oil related facilities, including those operated by us or our service providers, could be direct targets of physical or cyber-attacks, and, if infrastructure integral to our operations is destroyed or damaged, we may experience a significant disruption in our operations.”

Annual report unknown yearA · The company itself

“Concerns over global economic conditions, stock market volatility, energy costs, geopolitical issues (including in and relating to Venezuela, Russia and Ukraine, and the Middle East), potential tariffs imposed by the United States or other countries on goods and natural resources, including natural gas and LNG, inflation and U.S. Federal Reserve interest rate adjustments in response thereto, and the availability and cost of credit, have contributed and may continue to contribute to increased economic uncertainty and diminished expectations for the global economy.”

Annual report unknown yearA · The company itself

“We have experienced and may further experience increased opposition with respect to our and the MVP Joint Venture's projects from activists in the form of lawsuits, intervention in regulatory proceedings and otherwise, which could result in adverse impacts to our business, financial condition, results of operations and cash flows. In particular, opponents were successful in past challenges with respect to MVP Mainline.”

Annual report unknown yearA · The company itself

“Pressures on the market as a whole, or our specific financial position – whether due to depressed commodity prices, increased prices of raw materials such as iron, sand and water, our hedge positions, leverage, credit ratings, tax law changes or otherwise – could make it difficult for us to obtain the funding necessary to conduct our operations. •Risks Associated with Our Human Capital, Technology and Other Resources and Service Providers.”

Annual report unknown yearA · The company itself

“Advanced planning, a prerequisite to pursuing combo-development, facilitates the delivery of bulk hydraulic fracturing sand and piped fresh and recycled water and provides the ability to continuously meet completions supply needs and the use of environmentally friendly technologies such as electric hydraulic fracturing powered by natural gas.”

Annual report unknown yearA · The company itself

“Our ability to drill and develop these locations depends on a number of uncertainties, including natural gas, NGLs and oil prices; the availability and cost of capital; drilling and production costs; the availability of drilling services and equipment; drilling results; lease expirations; topography; gathering system and pipeline transportation costs and constraints; access to and availability of sand and water and corresponding materials sourcing and distribution systems, including railroads; coordination with coal mining; regulatory approvals; and other factors.”

Annual report unknown yearA · The company itself

“Further, energy demand could increase or decrease as a result of extreme weather conditions. A decrease in energy use due to weather or climatic changes may affect our financial condition through decreased revenues.”

Annual report unknown yearA · The company itself

“Global economic conditions, geopolitical issues and inflation have constrained global and domestic supply chains, which has impacted and could in the future continue to impact our ability to develop our reserves in accordance with our drilling and completions schedule and could impact the development schedule of our midstream customers, thereby resulting in decreased demand for, and revenue from, our midstream services.”

Annual report unknown yearA · The company itself

“Our business, and the U.S. energy grid, is predominately operated on a digital system. Our employees rely on our cloud-based digital work environment to communicate and access data that is necessary to conduct our day-to-day operations. While these systems and infrastructure enable us to efficiently supply natural gas and NGLs to the market, they are also susceptible to physical and cybersecurity threats.”

Annual report unknown yearA · The company itself

“Our business and the natural gas industry in general have become increasingly dependent upon digital technologies, including information systems, infrastructure and cloud applications, and the maintenance of our financial and other records has long been dependent upon such technologies. We depend on this technology to record and store data, estimate quantities of natural gas, NGLs and oil reserves, analyze and share operating data and communicate internally and externally.”

Annual report unknown yearA · The company itself

“While these systems and infrastructure enable us to efficiently supply natural gas and NGLs to the market, they are also susceptible to physical and cybersecurity threats.”

Annual report unknown yearA · The company itself

“Unfavorable ESG or sustainability ratings could lead to increased negative investor sentiment towards us and our industry and to the diversion of investment to other industries, which could have a negative impact on our stock price and our access to and cost of capital. In addition, failure or a perception (whether or not valid) of failure to implement our sustainability strategy or achieve sustainability goals and targets we have set, could damage our reputation, causing our investors or consumers to lose confidence in our company, and negatively impact our operations.”

Annual report unknown yearA · The company itself

“Concerns over global economic conditions, stock market volatility, energy costs, geopolitical issues (including in and relating to Venezuela, Russia and Ukraine, and the Middle East), potential tariffs imposed by the United States or other countries on goods and natural resources, including natural gas and LNG, inflation and U.S. Federal Reserve interest rate adjustments in response thereto, and the availability and cost of credit, have contributed and may continue to contribute to increased economic uncertainty and diminished expectations for the global economy.”

Annual report unknown yearA · The company itself

“Our business and operating results can be adversely affected by increases in interest rates or other increases in the cost of capital resulting from a reduction in our credit ratings or otherwise.”

Annual report unknown yearA · The company itself

“In addition, a number of areas within the Appalachian Basin have historically been subject to mining operations. For example, third parties may engage in subsurface coal and other mining operations near or under our properties, which could cause subsidence or other damage to our properties, adversely impact our drilling operations or adversely impact third-party midstream activities on which we rely.”

Annual report unknown yearA · The company itself

“Further, natural gas as a fuel competes with other forms of energy available to end-users, including coal, liquid fuels and, increasingly, renewable and alternative energy. Increases, whether driven by legislation, regulation or consumer preferences, in the availability and demand for renewable and alternative energy at the expense of natural gas (or increases in the demand for other sources of energy relative to natural gas based on price and other factors) could adversely affect the customers of our midstream services and lead to a reduction in demand for our natural gas gathering, transmission and storage services.”

Annual report unknown yearA · The company itself

“Such negative perception could, for example, adversely affect our access to and cost of capital and lead to increased litigation and regulatory, legislative and judicial scrutiny, which may, in turn, lead to new local, state and federal laws, regulations, guidelines and enforcement interpretations in safety, environmental, royalty and surface use areas. These actions may cause operational delays or restrictions, increased operating costs, additional regulatory burdens and increased risk of litigation.”

Annual report unknown yearA · The company itself

“Further, natural gas as a fuel competes with other forms of energy available to end-users, including coal, liquid fuels and, increasingly, renewable and alternative energy. Increases, whether driven by legislation, regulation or consumer preferences, in the availability and demand for renewable and alternative energy at the expense of natural gas (or increases in the demand for other sources of energy relative to natural gas based on price and other factors) could adversely affect the customers of our midstream services and lead to a reduction in demand for our natural gas gathering, transmission and storage services.”

Annual report unknown yearA · The company itself

“Substantially all of our producing properties and midstream infrastructure are geographically concentrated in the Appalachian Basin. As a result of this concentration, we may be disproportionately exposed to the impact of regional supply and demand factors, delays or interruptions of production from wells in these areas caused by, and costs associated with, governmental regulation, state and local political activities, processing or transportation capacity constraints, market limitations, availability of equipment and personnel, water shortages or other weather-related conditions, interruption of the processing or transportation of natural gas, NGLs or oil and changes in state and local laws, judicial precedents, political regimes and regulations.”

Annual report unknown yearA · The company itself