Antero Resources (AR) Conference presentation summary

Strategic position and growth

• Holds the top producer and midstream provider positions in West Virginia, with ~$14 billion enterprise value each for upstream and midstream segments.

• Invested $23 billion in West Virginia, representing significant capital commitment and regional focus.

• Controls about 4% of the U.S. natural gas market and has over 30 years of drilling inventory.

• Recent $4 billion acquisition made it a pure West Virginia operator, adding 385,000 net acres and 850 MMcfe/d production.

• Net production increased by 41% since the last conference, now at 4.5 Bcfe/d.

Market leadership and production

• Accounts for approximately 45% of West Virginia's total natural gas production and 51% of its natural gas liquids.

• Produces more natural gas equivalent than the next four state operators combined.

• West Virginia is now the 5th largest natural gas producing state, with Antero's growth driving this rise.

• Added 400,000 acres and 1.3 Bcfe/d in production over four years.

Economic and community impact

• Paid $9.7 billion in lease and royalty payments, benefiting over 17,000 West Virginia residents.

• Largest taxpayer in the state, with $1.8 billion paid in property and severance taxes since inception.

• Direct annual economic impact of $6.5 billion, supporting over 3,000 sustainable jobs.

• Significant increases in lease, royalty, and tax payments since the last conference.