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Cabot Oil & Gas Corp | Q2 2020 Results Presentation | Dan Dinges | Page 3 of 11 | December 19, 2025

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CABOT OIL & GAS CORPORATION Second Quarter 2020 Highlights 3 • Daily production of 2,229 Mmcfe per day, exceeding the high- end of the Company’s guidance range • All operating expenses were in-line or below guidance ranges for the quarter • Despite the lowest average quarterly NYMEX price since the third quarter of 1995, Cabot was able to generate positive net income of $30.4 million (or $0.08 per share) and adjusted net income (non-GAAP) of $18.0 million (or $0.05 per share) • Return on capital employed (ROCE) (non-GAAP) for the trailing twelve months of 10.3 percent • Subsequent to the end of the second quarter, Cabot repaid $87.0 million of senior notes that matured in July 2020 Note: See supplemental tables at the end of the presentation for a reconciliation of non-GAAP measures 1 Includes direct operations, transportation and gathering, taxes other than income, exploration, DD&A, general and administrative, and interest expense Q2 2020 Q1 2020 Q2 2019 Equivalent Production (Mmcfe/d) 2,229 2,363 2,349 Realized Gas Price (Incl. Hedges) ($/Mcf) $1.52 $1.72 $2.27 Realized Gas Price (Excl. Hedges) ($/Mcf) $1.42 $1.72 $2.20 Net Income ($mm) $30.4 $53.9 $181.0 Adjusted Net Income (non-GAAP) ($mm) $18.0 $54.0 $150.6 Discretionary Cash Flow (non-GAAP) ($mm) $119.2 $198.5 $301.9 Free Cash Flow (non-GAAP) ($mm) ($63.3) $49.8 $72.7 EBITDAX (non-GAAP) ($mm) $136.9 $189.0 $311.1 Operating Expenses 1 ($/Mcfe) $1.44 $1.46 $1.41 LTM Net Debt / EBITDAX (non-GAAP) 1.2x 0.9x 0.6x TTM ROCE (non-GAAP) 10.3% 14.1% 23.5%