Southwest Appalachia Table of Contents Index to Financial Statements Southwest Appalachia represented 41% of our total 2019 net production and 62% of our total reserves as of December 31, 2019. In 2019, our reserves in Southwest Appalachia increased by 329 Bcfe, which included net additions of 333 Bcfe and net upward performance revisions of 975 Bcfe, partially offset by net downward price revisions of 660 Bcfe and production of 319 Bcfe. As of December 31, 2019, we had approximately 287,693 net acres in Southwest Appalachia and had a total of 505 wells on production that we operated. Below is a summary of Southwest Appalachia’s operating results for the latest three years: For the years ended December 31, 2019 2018 2017 Acreage Net undeveloped acres 205,222  (1) 220,331  219,709  Net developed acres 82,471  77,114  70,582  Total net acres 287,693  297,445  290,291  Net Production Natural gas  (Bcf) 150  105  85  Oil  (MBbls) 4,673  3,355  2,228  NGL  (MBbls) 23,611  19,679  14,193  Total production  (Bcfe)  (2) 319  243  183  Reserves Reserves  (Bcfe) 7,883  7,554  6,962  Locations: Proved developed producing 496  423  364  Proved developed non-producing 48  45  37  Proved undeveloped 376  488  559  Total locations 920  956  960  Gross Operated Well Count Summary Drilled 66  63  53  Completed 72  63  50  Wells to sales 69  76  57  Capital Investments (in millions) Drilling and completions, including workovers $ 516  $ 502  $ 353  Acquisition and leasehold 42  37  59  Seismic and other 3  4  4  Capitalized interest and expense 149  148  131  Total capital investments  (3) $ 710  $ 691  $ 547  Average completed well cost  (in millions)  (4)(5) $ 8.9  $ 9.2  $ 7.4  Average lateral length  (feet) (4)(5) 10,642  7,267  7,451  (1) Our undeveloped acreage position as of December 31, 2019 had an average royalty interest of 14%. (2) Approximately 317 Bcfe, 240 Bcfe and 179 Bcfe for the years ended December 31, 2019, 2018 and 2017, respectively, were produced from the Marcellus Shale formation. (3) Excludes $35 million, $60 million and $37 million for the years ended December 31, 2019, 2018 and 2017, respectively, related to our water infrastructure project. (4) 2018 and 2017 include only wells drilled by the Company. (5) Average completed well cost and average lateral length for the year ended December 31, 2019 include both Marcellus wells and Upper Devonian wells. The years ended December 31, 2018 and 2017 include Marcellus wells only and exclude three Upper Devonian wells in 2018 and one Utica well in 2017. For 2019 as compared to 2018: • Our average completed well cost per foot decreased primarily due to increased lateral lengths, operational execution and savings from vertical integration, water systems and direct-sourcing sand. 13