Expand Energy — Jul 28, 2026 release

• Net cash provided by operating activities of $1,096 million, driven by continued operational execution • Net income of $522 million, or $2.19 per fully diluted share; adjusted net income (1) of $317 million, or $1.33 per diluted share • Adjusted EBITDAX (1) of $1,183 million • Net production of ~7.48 Bcfe/d (92% natural gas), reaffirmed full-year 2026 guidance of 7.4 – 7.6 Bcfe/d • Total debt of $3.7 billion as of quarter-end, down ~$1.3 billion from year-end as a result of senior note redemption in April 2026 • Reported quarter-end net debt (1) of $3.1 billion and peer-leading leverage ratio of ~0.5x • Approximately $530 million of common stock repurchases in the second quarter; year-to-date repurchases total approximately $850 million or 4% of shares outstanding • Announced additional ~$1 billion buyback authorization, facilitating continued opportunistic share repurchases • Released 2025 Sustainability Report with consistent, transparent performance data disclosure • Announced the acquisition of Twin Eagle Holdings, N.A. LLC ("Twin Eagle"), creating North America's leading integrated natural gas company (1) Definitions of non-GAAP financial measures and reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure are included at the end of this release. “This year, the team has been focused on two key initiatives, executing with discipline and accelerating our marketing and commercial strategy. I'm pleased with the significant progress we've made on both fronts,” said Mike Wichterich, Interim President and Chief Executive Officer of Expand Energy. “We’ve strengthened our balance sheet and achieved a peer-leading leverage ratio, giving us the flexibility to opportunistically allocate capital. We acted decisively with our buyback program, reduced outstanding shares by 4%, and authorized an additional $1 billion of share repurchases. Through our leasing program, we’ve organically extended our inventory across our portfolio at a si