Slide 1: Q2 2023 Update
Cc Q2 2023 Update July 27, 2023
Slide 2: Q2 2023 Highlights
Q2 2023 Highlights “The second quarter represented the 14th consecutive quarter of significant free cash flow RESULTS SNAPSHOT(1) generation," commented Nick Deiuliis, president and CEO. “Utilizing this free cash flow, we continued to pay down debt and repurchase shares. Cumulatively, since the ince
Slide 3: CNX has Generated ~$1.8 Billion in Free Cash Flow since Q1 2020
CNX has Generated ~$1.8 Billion in Free Cash Flow(1) since Q1 2020 Free Cash Flow (FCF)(1) $800 $707 $700 14 consecutive quarters of $600 generating $506 significant FCF, $500 used to return $ in millions capital to $400 $356 shareholders and ~$325 pay down/manage $300 debt $224 $200 $100 $0 2020 20
Slide 4: Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt
Balance Sheet and Hedge Book Drive Capacity to Retire Shares and Reduce Debt ~30% reduction in total shares outstanding CNX has since Q3 2020 repurchased 66.3 161.5(1) million shares for $1.0 billion(1) since Q3 2020 at an average price of $15.36 CNX has reduced adjusted net debt(2) by $414 million
Slide 5: Balance Sheet and Liquidity Strength
Balance Sheet and Liquidity Strength Significant liquidity under credit Maturities as of June 30, 2023(1) facilities – Combined elected 2500 7.5% 7.6% 8% 7.3% 7.4% commitments of $1.95 billion 7% 2000 6% Undrawn Revolver Significant runway before 5% Capacity $ in millions 1500 nearest bond maturity
Slide 6: 2023 Guidance Update
2023 Guidance Update PREVIOUS UPDATED Wellhead production on- Activit 2023E track & on schedule 2023E 2023E ($ in millions) Low High Low High Volumes adjusted 15 Bcfe: Production Volumes (Bcfe) 555 - 575 545 - 555 9 Bcfe decrease from non- op sale & 9 Bcfe decrease % Liquids ~7% - ~8% ~7% - ~8% from
Slide 7: GHG Emissions
GHG Emissions Methane Intensity of Top US NG Basins CNX Methane Intensity by segment 0.06% The Appalachian Production Segment G&B Segment CNX is driving Basin is the lowest meaningful methane intensity 0.04% reductions on basin in the U.S. methane intensity emissions and 0.02% continues to target fu
Slide 8: Investor Contacts & Notices
Investor Contacts & Notices and transportation facilities and other midstream facilities owned by others; conditions in the oil and gas industry; our current long-term debt obligations, and the terms of the agreements that govern that debt; strategic determinations, including Investor Relations Cont