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Southwestern Energy Co
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November 2023 Investor Presentation
| William Way | Page 6 of 11 |
December 20, 2025
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"November 2023 Investor Presentation"
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6 Largest Dual Basin Natural Gas Producer Appalachia Net Acres: 734,000 (1) 2023E Net Production: ~2.8 Bcfe/day (2) 20% Liquids 80% Gas Natural Gas Peer 2023E Net Production (Bcfe/d) (3,4) Companies with multi-basin assets Haynesville Net Acres: 286,000 2023E Net Production: ~1.8 Bcfe/day (2) 100% Gas 5.5 4.6 3.8 3.5 3.4 2.1 1.5 1.4 1.1 Peer 1 SWN Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 1) Pro forma for Pennsylvania Utica asset sale in June 2023. 2) Based on midpoint of guidance. 3) Based on midpoint of company provided guidance and most recent SEC filings. 4) Peers include AR, CHK, CNX, CRK, CTRA, EQT, GPOR and RRC. 5) Based on publicly available materials and SWN estimates. Well positioned to convert differentiated scale and market access into long-term shareholder value 1.5 1.0 0.4 0.4 0.3 0.3 SWN Peer 4 Peer 5 Peer 2 Peer 3 Peer 7 Peer 1 Peer 6 Peer 8 Current LNG Sales (Bcf/d) (4,5)