Expand Energy (EXE) investor relations material

Executive summary

• Achieved significant merger-related synergies, reducing Haynesville breakevens by 15% and establishing a low-cost producer position.

• Reduced gross debt by $1.2 billion since merger close and returned $865 million to shareholders in 2025.

• 2025 production reached ~7.2 Bcfe/d, with a 2026 outlook of ~7.5 Bcfe/d for $2.85bn capex.

• Focused on capital efficiency, robust deleveraging, and expanding access to premium markets.

• Relocated headquarters to Houston to strengthen commercial relationships and market access.

Voting matters and shareholder proposals

• Shareholders will vote on: (1) election of 9 directors, (2) advisory approval of 2025 executive compensation, and (3) ratification of PwC as independent auditor for 2026.

• Board recommends voting FOR all proposals.

• Majority vote standard for directors; advisory say-on-pay vote considered in future compensation decisions.

• Shareholders may submit proposals for the 2027 meeting by December 24, 2026.

Board of directors and corporate governance

• Board consists of 9 directors post-2026 meeting, with 8 independent members and a separate Lead Independent Director.

• 44% of nominees are gender, racially, ethnically, or nationality diverse.

• Board and committees held 35 meetings in 2025 with 97% attendance.

• Mandatory retirement policy at age 80; directors limited to 4 public boards, executives to 2.

• CEO Search Committee formed in 2026 to identify a permanent CEO.