EQT Corporation (EQT) official guidance

| Average Differential ($/Mcf, including basis hedges) | ($0.75) – ($0.65) | ($0.55) – ($0.35) |

| Average Differential ($/Mcf, including basis hedges) | ($0.75) – ($0.65) | ($0.55) – ($0.35) |

| Average Differential ($/Mcf) | $0.05 – $0.15 | ($0.55) – ($0.35) |

| Btu uplift (MMBtu/Mcf) | 1.050 – 1.060 | 1.050 – 1.060 |

| Btu uplift (MMBtu/Mcf) | 1.050 – 1.060 | 1.050 – 1.060 |

| Btu uplift (MMBtu/Mcf) | 1.050 – 1.060 | 1.050 – 1.060 |

| Capital contributions to equity method investments (c) | $60 – $70 | $150 – $170 |

| Capital contributions to equity method investments (b) | $25 – $35 | $70 – $80 |

| Capital contributions to equity method investments (b) | $20 – $30 | $70 – $80 |

| Corporate and capitalized costs | $55 – $65 | $220 – $240 |

| Corporate and capitalized costs | $50 – $60 | $205 – $225 |

| Corporate and capitalized costs | $50 – $60 | $205 – $225 |

| Growth capital expenditures | $200 – $240 | $580 – $640 |

| Growth capital expenditures | $210 – $235 | $580 – $640 |

We are allocating the first $600 million of post-dividend free cash flow to these projects in 2026, which is largely comprised of compression projects, water infrastructure, the Clarington Connector Pipeline into Ohio, and strategic leasing.

| Growth capital expenditures | $120 – $145 | $580 – $640 |

The Company now expects its full-year 2026 maintenance capital expenditures to total $2,040 – $2,190 million, inclusive of $510 – $580 million in the third quarter of 2026.

| Total maintenance capital expenditures | $525 – $595 | $2,070 – $2,210 |

Shifting to our 2026 outlook, we are initiating a production forecast of 2.275-2.375 TCFE, with continued outperformance of operational efficiency and well productivity likely to drive upside bias to this range. As it relates to our investments, we have established a maintenance capital budget of $2.07 billion-$2.21 billion, which includes a full-year impact from the Olympus acquisition.

| Total maintenance capital expenditures | $515 – $590 | $2,070 – $2,210 |

We expect maintenance CapEx in line with 2025, plus the full-year impact of the Olympus acquisition.

| Midstream maintenance | $70 – $80 | $220 – $250 |

| Midstream maintenance | $75 – $85 | $220 – $250 |

| Midstream maintenance | $50 – $60 | $220 – $250 |

| Upstream maintenance | $385 – $435 | $1,600 – $1,700 |

| Upstream maintenance | $400 – $450 | $1,645 – $1,735 |

| Upstream maintenance | $415 – $470 | $1,645 – $1,735 |

| Distributions from equity method investments (a) | $60 – $70 | $220 – $250 |

| Distributions from Mountain Valley Pipeline, LLC (the MVP Joint Venture) and Laurel Mountain Midstream, LLC (LMM) | $65 – $75 | $215 – $240 |

| Distributions from Mountain Valley Pipeline, LLC (the MVP Joint Venture) and Laurel Mountain Midstream, LLC (LMM) | $45 – $55 | $205 – $230 |

| Distributions to PipeBox LLC (the Midstream JV) noncontrolling interest (b) | $110 – $125 | $430 – $470 |

| Distributions to PipeBox LLC (the Midstream JV) Noncontrolling Interest (a) | $125 – $140 | $420 – $460 |

| Distributions to PipeBox LLC (the Midstream JV) Noncontrolling Interest (a) | $100 – $115 | $420 – $460 |