EXPAND ENERGY Business Summary

Expand Energy Corp (EXE) operates as the largest natural gas producer in North America, generating revenue primarily through the exploration, development, and acquisition of properties for the production of natural gas, oil, and natural gas liquids (NGLs). The company’s business is structured around three core geographical segments: the Haynesville Shale in Louisiana and East Texas, and the Northeast and Southwest Appalachia regions. Formed through the high-profile merger of Chesapeake Energy and Southwestern Energy, the firm maintains a returns-focused business model that prioritizes free cash flow generation and debt reduction over aggressive volume growth. Expand Energy competes directly with major independent producers such as EQT Corporation, Coterra Energy, and Devon Energy; it distinguishes itself as a market leader in scale and capital efficiency, leveraging its proximity to Gulf Coast LNG export hubs to capture global demand. The company is currently led by Michael Wichterich, who serves as the Interim President and Chief Executive Officer as well as Chairman of the Board, bringing a deep pedigree as the founder of Three Rivers Operating Company and former executive chairman of Chesapeake Energy. Supporting the leadership transition is Executive Vice President and COO Joshua Viets, an industry veteran with extensive operational experience at ConocoPhillips, and Interim CFO Brittany Raiford, who oversees the firm's aggressive 2026 debt-reduction mandate. The board of directors features notable industry figures including Lead Independent Director Matt Gallagher and Shameek Konar, a partner at Ara Energy Decarbonization. In a strategic move to strengthen commercial partnerships, the company is currently transitioning its corporate headquarters from Oklahoma City to Houston, a process slated for completion by mid-2026.