Range Who We Are Pure Play Appalachian Producer with 30+ Years of Core Marcellus Inventory Durable Free Cash Flow Paired with Efficient Growth Access to Growing Demand in Domestic and International Markets Strong Balance Sheet to…
Range Positioned to Deliver Value Through the Cycles Unmatched Position in Southwest Appalachia 30+ Years of High-Quality Marcellus Inventory to Meet Long-Term Demand Growth Durable Free Cash Flow with Efficient Growth History of…
Unmatched Core Marcellus Inventory 30+30+ Years Years of High-Quality of High-Quality Marcellus Marcellus Inventory Inventory 27 Million Lateral Feet of Undrilled Marcellus at YE 2025 70,000 Net Acres in /MMbtu Breakeven(a)…
Global Sales Portfolio Concentrated Marcellus Assets Access Multiple End-Markets for Natural Gas and NGL Price Diversification Natural Gas End-Markets Local & LNG Northeast 20% of Natural Midwest 30% of Natural Gas to Local &…
Durable Free Cash Flow Through the Cycles History of Sustainable Free Cash Flow and Capital Returns 1,800 2026E-2027E FCF Sensitivity(b) 1,600 1,580 4.50 NG 3.75 NG 3.00 NG 1,400 RRC Free Cash Flow ( MM)(a) 1,200…
Range Multiyear Outlook Efficient Growth into Increasing Demand 2,000 2,800 Outlook Through 2027 1,800 2,700 Cumulative 2026-2027 FCF of 1.7 billion(a) at 3.75 NYMEX natural gas 1,600 650 - 700 million annual capex EBITDAX and…
Positioned for Capital-Efficient Growth Differentiated Investments in Inventory Drive Capital-Efficient Growth RRC Lateral Feet Drilled and TIL 1,200,000 Differentiated Inventory Position Lateral Feet Drilled Lateral Feet TIL…
2026 Capital Investments Operational Plan Supports Efficient Wedge of Production Growth through 2027 15 - 25 650 - 700 5 - 15 120 - 140 10 - 20 500 Million Pneumatic Maintain Existing Devices, Growth Future Inventory…
Compelling Free Cash Flow and Valuation Range Offers Durable Free Cash Flow Yield and Attractive Trading Multiple and Yield versus Other Sectors 2026 FCF Yield(a) Reinvestment Rate (% of Cash Flow)(b) 14.0% 100% RRC at 4.50 NG 12% 90%…
Why Invest In Range Large Contiguous Acreage Position Provides 30+ Years of Low-Breakeven, High-Return Marcellus Inventory History of Resilient Free Cash Flow Driven by Peer-Leading Well Costs and Decline Rate, Low Capital…
Natural Gas & NGL Macro 13
Natural Gas Plays Key Role in Reducing Emissions U.S. CO2 Emissions Reductions Driven by Coal Coal Consumption & CO2 Emissions from Energy Displacement (MMT)(a) (2005-2024 Change)(b) 6,500 4,000 8,000 70 26% 7,000 60 3,500 6,000…
Natural Gas Benefiting from Coal Displacement and Electrification Growing Market Share in U.S. Power Generation U.S. Power Generation by Source(a) Gas power demand grew by 16 Bcf/d from 2010-2024, while coal declined 40 48% 22 Bcf/d(c)…
U.S. LNG Plays A Vital Role in Global Energy Security Global LNG Exports (Bcf/d)(a) European Gas Supply by Source (Bcf/d)(b) 20 68 45 18 64 2.2 40 2.9 60 16 7.0 56 35 12.0 14 12.9 52 7.6 5.7 30 5.7 9.1 12 48 2.1 2.8 10 44 25 1.0…
Future Natural Gas Fundamentals Are Strong Natural Gas Plays Key Role in Meeting Growing Global Energy Demand 134 130 U.S. Demand (Bcf/d) 126 122 19 118 Bcf/d 114 110 106 102 2025 ResCom Industrial Electric Mexico LNG…
Significant Natural Gas Demand Growth Through 2030 2026-2030 Demand Outlook U.S. LNG Export Demand Outlook Total demand growth of +24 Bcf/d through 2030 from LNG and pipeline Range forecasts U.S. LNG feedgas capacity to reach 30 Bcf/d…
Growing Power Demand Highlights Critical Role of Natural Gas PJM Projections of Future Load Growth (MW)(b) Strong Northeast Gas Demand Growth Potential PJM forecasts a 25 GW increase in summer load demand for 2026- 2030, and raised…
Appalachia Demand Fundamentals Improving 5-8 Bcf/d of Demand Growth and Additional Takeaway Capacity Through 2030 46 Data Centers 42-45 Bcf/d Northeast data center projects underway 45 (pre/post-FID) 3 Bcf/d by 2030(a) 44 Homer…
Lower 48 Dry Gas Production Future U.S. Supply Growth Expected to be Limited by Infrastructure Constraints and Productivity Declines 134 Projected 2030 Demand 130 126 U.S. L48 Pipeline Flows (Bcf/d) 122 118 114 110…
Lower 48 Storage Days of Supply U.S. Natural Gas Days of Supply Are Below Average 80 Lack of additional storage built in the U.S. over the last decade 75 likely results in increased volatility for natural gas, ultimately 70…
NGL Macro Strengthens with International Demand Growth Increasing Global Demand Being Supplied by U.S. LPG 13,250 13,000 Global LPG Demand (MBD) 12,750 12,500 605 12,250 MBD 12,000 11,750 11,500 2025 Demand ResCom +…
U.S. Exports Efficiently Meet Global LPG Demand Global LPG Supply and Demand Markets Shift U.S. LPG Supply Shifts to Markets Outside of China U.S. share of global LPG exports has doubled to 47% since 2014 2,500 U.S. LPG Export…
Global Naphtha Cracking Rationalization Supports U.S. NGL Demand Global Ethylene Production Announced Naphtha-Fed Ethylene Production Closures Although ethylene demand has grown by 8.5% since 2021, the global 800 overbuild of ethylene…
Global Ethylene Demand Growth Drives U.S. Ethane Exports Global Ethane Demand U.S. Export Growth Needed to Meet Global Demand Growth Demand growth for packaging, automobiles, and electronics requires Currently planned U.S. ethane export…
ESG 27
Leading in Environmental Practices Lowest Methane Intensity Compared to Peers(a) Industry-Leading Emissions Targets 0.60% Methane (CH4) Emissions Intensity as % of Expect to Maintain Net Zero for Scope 1 and 2 GHG emissions…
Governance & Social Responsibility Range Is Committed to Strong Governance and Social Responsibility. Range Views These Objectives as Core to Delivering Long-Term Value for Shareholders. Board Governance Social Responsibility Average…
Executive Compensation Aligned with Shareholders Changes to Incentive Plans Have Been Informed by the Boards Direct Outreach to Stakeholders, Annual Outreach Targets Greater than 65% of Shares Outstanding Long-Term Equity Incentive…
Appendix 31
Appalachia Stacked Pay Gas in Place Analysis Shows the Greatest Potential is in Southwest Pennsylvania 1.5 million net effective acres(a) in PA provides decades of drilling inventory Activity led by Core Marcellus development in…
Multi-Decade Inventory of Capital Efficient Wells = Existing Pad Southwest Pennsylvania Range Has Delineated Its Entire Acreage Position Since pioneering the Marcellus in 2004, Range has drilled across its Appalachian position 1,600…
Northeast Pennsylvania = Existing Pad Northeast Pennsylvania Approximately 70,000 net acres prospective for Marcellus development 2025 Northeast PA production averaged over 100 Mmcf per day Utilizing existing infrastructure to…
Northwest Pennsylvania Utica/Point Pleasant Northwest Pennsylvania Range has approximately 220,000 net acres with Utica/Point Pleasant potential 190,000 net acres have similar thermal maturity and liquids potential as EOGs liquids…
Marcellus Modeling Data Previous Wet and Super-Rich Area type curves combined into a single Liquids Rich Area as an increasing number of long laterals are extending across both areas. Dry Gas Areas type curve expanded to include Northeast…
NGL Price Calculation Example % of RRC Barrel Mont Belvieu (/gal) Avg. 2024 Avg. 2025 1Q 2026E 2Q 2026E 3Q 2026E 4Q 2026E Avg. 2026E Additional Considerations 53% Ethane 0.19 0.25 0.23 0.23 0.24 0.26 0.24 Range NGL differential can be…
Range 2026 Guidance 2026 Guidance Production per Day 2.35 - 2.40 Bcfe Capital Expenditures 650-700 Million Maintenance Drilling & Completion 500 Million Growth Drilling & Completion 120 - 140 Million Maintenance Land 10 - 20…
Hedge Summary Ranges Hedging Strategy, Marketing Contracts, and Diversified Production Mix Support Consistent Operational Plans and Shareholder Returns Through the Cycles. 2026 Hedging 2027 Hedging 50% 50% 45% 45% 40% 40% 35%…
Resilient Balance Sheet Strong Balance Sheet Provides Flexibility Through the Cycles and Lower Debt Improves Cost Structure RRC Net Debt(a) RRC Maturity Profile(b) billion million 5.00 10.0x 2,500 4.50 4.1 Ability to…
Contact Information Range Resources Corporation 100 Throckmorton Street, Suite 1200 Fort Worth, Texas 76102 Laith Sando, CPA (817) 869-4267 lsandorangeresources.com Matt Schmid (817) 869-1538 mschmidrangeresources.com…
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