Slide 1: Q2 2025 Update
Cc Q2 2025 Update July 24, 2025
Slide 2: Q2 2025 Highlights
Q2 2025 Highlights “The company had another quarter of consistent operational execution resulting in the 22nd Q2 2025 RESULTS SNAPSHOT AND 2025E (1) consecutive quarter of free cash flow generation," commented Nick Deiuliis, CEO. “Utilizing this free cash flow, the company bought back shares at what
Slide 3: CNX Has Generated ~$2.5 Billion in Free Cash Flow Since Q1 2020
CNX Has Generated ~$2.5 Billion in Free Cash Flow(1) Since Q1 2020 $600 Free Cash Flow (FCF)(1) ~$575 $500 22 consecutive quarters of $400 generating positive FCF, used to return capital to $ in millions $300 $276 shareholders and $234 pay down/manage $199 $200 $188 debt $158 $129 $130 $135 $135 $12
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 224.5 Shares Repurchased Since Q3 2020 ~40% reduction in total CNX has (3.6) shares outstanding Shares (Millions) (18.7) repurchased 89.0 since Q3 2020 million shares, at an (33.4) 141.4(1) (17.7) (7.4) -10% CAGR, for (8.3)
Slide 5: Balance Sheet and Liquidity Strength
Balance Sheet and Liquidity Strength Significant liquidity under credit Maturities as of June 30, 2025(1) facilities – combined elected $3,000 commitments of $2.0 billion 8% $2,500 7% 6.2% 6.3% 6.0% Significant runway before 5.8% 6% Undrawn Revolver nearest bond maturity $2,000 Capacity $ in million
Slide 6: 2025 Guidance
2025 Guidance PREVIOUS UPDATED 2025E 2025E ($ in millions) Low High Low High Production Volumes (Bcfe) 605 - 620 615 - 620 % Liquids ~7% - ~8% ~7% - ~8% % of Natural Gas Hedged 85% 85% Prices on Open Volumes (1) Natural Gas NYMEX ($/MMBtu) $3.76 $3.59 Natural Gas Differential ($/MMBtu) ($0.59) ($0.6
Slide 7: GHG Emissions
GHG Emissions 2025 increases are associated with the Revised Methane Intensity of Top US NG Basins CNX Methane Intensity EPA Greenhouse Gas Reporting Program (GHGRP) 0.05% The Appalachian Basin is the lowest methane 0.04% intensity basin in the U.S. 0.03% 0.02% 0.01% 0.00% 2022 2022 2022 2023 2023 2
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