Slide 1: Q2 2024 Update
Cc Q2 2024 Update July 25, 2024
Slide 2: Q2 2024 Highlights
Q2 2024 Highlights “The second quarter represented the 18th consecutive quarter of free cash flow generation, a Q2 2024 RESULTS SNAPSHOT AND 2024E (1) result that we proudly consider ‘redundant and boring’ as it highlights the consistent execution that is a cornerstone of our long-term per share val
Slide 3: CNX Has Generated ~$1.9 Billion in Free Cash Flow Since Q1 2020
CNX Has Generated ~$1.9 Billion in Free Cash Flow(1) Since Q1 2020 $400 Free Cash Flow (FCF)(1) ~$300 18 consecutive $300 $276 quarters of generating positive $234 $ in millions FCF, used to return capital to $200 shareholders and $158 pay down/manage $129 $130 $135 $135 $121 debt $117 $101 $100 $89
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 ~35% reduction in total shares outstanding CNX has since Q3 2020 repurchased 78.0 million shares, at an 151.2(1) -11% CAGR, for $1.3 billion(1) since Q3 2020 at an average price of $16.29 CNX has reduced adjusted net debt(2
Slide 5: Balance Sheet and Liquidity Strength
Balance Sheet and Liquidity Strength Significant liquidity under credit Maturities as of June 30, 2024(1) facilities – combined elected $3,000 8% commitments increased to $2.0 billion and maturity dates were $2,500 6.5% 6.4% 6.6% 7% 6.2% extended to 2029 6% Undrawn Revolver $2,000 $ in millions Capa
Slide 6: 2024 Guidance
2024 Guidance PREVIOUS(1) UPDATED 2024E 2024E ($ in millions) Low High Low High Production Volumes (Bcfe) 540 - 560 545 - 555 Narrowed guidance range but midpoint % Liquids ~8% - ~9% ~8% - ~9% remains unchanged % of Natural Gas Hedged 86% 86% (2) Prices on Open Volumes Natural Gas NYMEX ($/MMBtu) $2
Slide 7: GHG Emissions
GHG Emissions Methane Intensity of Top US NG Basins CNX Methane Intensity CNX is driving by activity meaningful reductions on Production Segment G&B Segment Production Gathering and Boosting methane intensity 0.08% emissions and The Appalachian Basin is continues to target the lowest methane 0.06% f
Slide 8: Investor Contacts & Notices
Investor Contacts & Notices a global or domestic health crisis or global instability; our operations and national and global economic conditions, generally; conditions in the oil and gas industry; the financial condition of our customers; any nonperformance by customers of their Investor Relations C