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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event
reported): March 24, 2026
EQT CORPORATION
(Exact name of registrant as specified in
its charter)
| Pennsylvania |
|
001-3551 |
|
25-0464690 |
(State or other jurisdiction of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
625 Liberty Avenue, Suite 1700
Pittsburgh, Pennsylvania 15222
(Address of principal executive offices,
including zip code)
Registrant’s telephone
number, including area code: (412) 553-5700
Not Applicable
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing
is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of
the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, no par value |
|
EQT |
|
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of
the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company ¨
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with
any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
On
March 24, 2026, EQT Corporation (“EQT”) issued a news release announcing the
early tender results and upsizing of its previously announced tender offer to purchase for cash (the “Tender Offer”) certain
of its outstanding 3.900% Senior Notes due 2027, 6.375% Senior Notes due 2029, 4.50% Senior Notes due 2029, 5.00% Senior Notes due 2029,
4.75% Senior Notes due 2031, 3.625% Senior Notes due 2031, 7.000% Senior Notes due 2030 and 7.500% Senior Notes due 2030 (collectively,
the “Notes”). EQT has amended the Tender Offer to (i) increase the maximum aggregate purchase price, excluding accrued and
unpaid interest, for all Notes that may be purchased from $1.15 billion to $1.4 billion and (ii) increase the maximum aggregate purchase
price, excluding accrued and unpaid interest, for the 6.375% Senior Notes due 2029, 4.50% Senior Notes due 2029 and 5.00% Senior Notes
due 2029, collectively, that may be purchased from $750 million to $1.0 billion. On March 24, 2026, EQT also issued a news release announcing
the pricing of the Tender Offer and the aggregate principal amount accepted for purchase
for each series of Notes. Copies of such news releases are attached hereto as Exhibits 99.1 and 99.2, respectively, and are incorporated
by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
|
Description |
| 99.1 |
|
News Release, dated March 24, 2026, issued by EQT Corporation,
announcing early tender results and upsizing of the Tender Offer. |
| 99.2 |
|
News Release, dated March 24, 2026, issued by EQT Corporation,
announcing pricing of the Tender Offer. |
| 104 |
|
Cover Page Interactive Data File (embedded within
the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
EQT CORPORATION |
| |
|
| Date: March 24, 2026 |
By: |
/s/ Jeremy T. Knop |
| |
Name: |
Jeremy T. Knop |
| |
Title: |
Chief Financial Officer |
Exhibit 99.1
EQT Announces Early Results and Upsizing
of its Tender Offer for Certain Senior Notes
PITTSBURGH, March 24, 2026 -- EQT
Corporation (NYSE: EQT) (“EQT” and, collectively with its consolidated subsidiaries, the “Company”) today announced
the early results and upsizing of its previously announced tender offer to purchase for cash (the “Tender Offer”) certain
of its outstanding 3.900% Senior Notes due 2027, 6.375% Senior Notes due 2029, 4.50% Senior Notes due 2029, 5.00% Senior Notes due 2029,
4.75% Senior Notes due 2031, 3.625% Senior Notes due 2031, 7.000% Senior Notes due 2030 and 7.500% Senior Notes due 2030 (collectively,
the “Notes”). EQT has amended the Tender Offer to (i) increase the maximum aggregate purchase price, excluding accrued
and unpaid interest, for all Notes that may be purchased from $1.15 billion to $1.4 billion (the “Aggregate Offer Cap”) and
(ii) increase the maximum aggregate purchase price, excluding accrued and unpaid interest, for the 6.375% Senior Notes due 2029,
4.50% Senior Notes due 2029 and 5.00% Senior Notes due 2029, collectively, that may be purchased from $750 million to $1.0 billion. All
other terms and conditions of the Tender Offer remain unchanged and are described in the Offer to Purchase dated March 10, 2026 (as
amended and supplemented by this news release and as it may be further amended or supplemented from time to time, the “Offer to
Purchase”). Capitalized terms used but not defined herein have the meanings ascribed thereto in the Offer to Purchase.
The principal amount of each series of Notes that
were validly tendered as of 5:00 p.m., New York City time, on March 23, 2026 (the "Early Tender Date"), as well as certain
other terms of the Tender Offer, are set forth in the table below. Withdrawal rights for the Tender Offer expired at 5:00 p.m., New York
City time, on March 23, 2026. As a result, tendered Notes may no longer be withdrawn, except in certain limited circumstances where
additional withdrawal rights are required by law. In this news release, all Notes that have been validly tendered and not validly withdrawn
are referred to as having been “validly tendered.”
| Title of Notes |
CUSIP
Number |
Principal
Amount
Outstanding |
Offer
SubCap |
Acceptance
Priority
Level |
Principal Amount
Tendered at
Early Tender Date |
Approximate Percentage of
Outstanding Notes Tendered at
Early Tender Date |
| 3.900% Senior Notes due 2027 |
26884LAF6 |
$936,158,000 |
$400,000,000 |
1 |
$657,134,000 |
70.2% |
| 6.375% Senior Notes due 2029 |
26884LAZ2 /
26884LAY5 /
U2689EAF7 |
$596,725,000 |
$1,000,000,000 |
2 |
$547,736,000 |
91.8% |
| 4.50% Senior Notes due 2029 |
26884LAX7 /
26884LAW9 / U2689EAE0 |
$734,583,000 |
3 |
$705,274,000 |
96.0% |
| 5.00% Senior Notes due 2029 |
26884LAL3 |
$318,494,000 |
4 |
$227,081,000 |
71.3% |
| 4.75% Senior Notes due 2031 |
26884LBD0 /
26884LBC2 /
U2689EAH3 |
$1,090,218,000 |
N/A |
5 |
$1,006,098,000 |
92.3% |
| 3.625% Senior Notes due 2031 |
26884LAN9 / U2689EAB6 |
$435,165,000 |
N/A |
6 |
$340,813,000 |
78.3% |
| 7.000% Senior Notes due 2030 |
26884LAG4 |
$674,800,000 |
N/A |
7 |
$441,844,000 |
65.5% |
| 7.500% Senior Notes due 2030 |
26884LBB4 /
26884LBA6 / U2689EAG5 |
$494,086,000 |
N/A |
8 |
$452,300,000 |
91.5% |
Because the aggregate purchase price, excluding
accrued and unpaid interest, for Notes validly tendered on or prior to the Early Tender Date will be greater than the Aggregate Offer
Cap, EQT will accept Notes for purchase based on the Acceptance Priority Procedures and the proration procedures described in the Offer
to Purchase, and EQT does not expect to accept for purchase any tenders of Notes after the Early Tender Date.
Payment for Notes validly tendered by the Early
Tender Date and accepted for purchase is expected to be made on March 26, 2026. EQT’s obligation to accept for payment and
to pay for Notes validly tendered in the Tender Offer is subject to the satisfaction or waiver of a number of conditions described in
the Offer to Purchase. EQT reserves the right, subject to applicable law, to hereafter (i) waive or modify, in whole or in part,
any or all conditions of the Tender Offer, (ii) extend, terminate or withdraw the Tender Offer, (iii) increase or decrease the
Aggregate Offer Cap or either or both Offer SubCaps or (iv) otherwise amend the Tender Offer in any respect.
Citigroup Global Markets Inc. and BofA Securities, Inc.
are severally acting as the Lead Dealer Managers for the Tender Offer. Any persons with questions regarding the Tender Offer should contact
(i) Citigroup Global Markets Inc. by calling (800) 558-3745 (toll-free) or (212) 723-6106 (collect) or emailing ny.liabilitymanagement@citi.com
or (ii) BofA Securities, Inc. by calling (888) 292-0070 (toll-free) or (980) 287-6959 (collect) or emailing debt_advisory@bofa.com.
The Information Agent and Tender Agent is Global
Bondholder Services Corporation. Copies of the Offer to Purchase and any related Tender Offer materials may be obtained from Global Bondholder
Services Corporation by calling (212) 430-3774 (banks and brokers, collect) or (855) 654-2015 (all others, toll-free) or by emailing contact@gbsc-usa.com.
This news release is for informational purposes
only. The Tender Offer is being made only pursuant to the Offer to Purchase, and the information in this news release is qualified by
reference to the Offer to Purchase. Further, this news release does not constitute an offer to sell or the solicitation of an offer to
buy the Notes or any other securities. No recommendation is made as to whether holders should tender any Notes in response to the Tender
Offer. Holders of Notes must make their own decision as to whether to participate in the Tender Offer and, if so, the principal amount
of Notes to tender.
Investor Contact
Cameron Horwitz
Managing Director, Investor Relations & Strategy
412.445.8454
Cameron.Horwitz@eqt.com
About EQT Corporation
EQT Corporation is a premier, vertically integrated
American natural gas company with upstream and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly
developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes
operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible,
reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the
reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day –
trust, teamwork, heart, and evolution are at the center of all we do.
Cautionary Statements
This news release contains certain forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the
generality of the foregoing, forward-looking statements contained in this news release specifically include statements regarding EQT’s
plans and expected timing with respect to the Tender Offer.
These forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place
undue reliance on forward-looking statements as a prediction of actual results. The Company has based these forward-looking statements
on current expectations and assumptions about future events, taking into account all information currently known by it. While the Company
considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive,
regulatory and other risks and uncertainties, many of which are difficult to predict and beyond its control. These risks and uncertainties
include, but are not limited to, volatility of commodity prices; the costs and results of drilling and operations; uncertainties about
estimates of reserves, identification of drilling locations and the ability to add proved reserves in the future; the assumptions underlying
production forecasts; the quality of technical data; the Company’s ability to appropriately allocate capital and other resources
among its strategic opportunities; access to and cost of capital; the Company’s hedging and other financial contracts; inherent
hazards and risks normally incidental to drilling for, producing, transporting, storing and processing natural gas, natural gas liquids
(NGLs) and oil; operational risks and hazards incidental to the gathering, transmission and storage of natural gas as well as unforeseen
interruptions; cyber security risks and acts of sabotage; availability and cost of drilling rigs, completion services, equipment, supplies,
personnel, oilfield services and pipe, sand and water required to execute the Company’s exploration and development plans, including
as a result of inflationary pressures or tariffs, particularly on steel and aluminum; risks associated with operating primarily in the
Appalachian Basin; the ability to obtain environmental and other permits and the timing thereof; construction, business, economic, competitive,
regulatory, judicial, environmental, political and legal uncertainties related to the development and construction by the Company or its
joint ventures of pipeline and storage facilities and transmission assets and the optimization of such assets; the Company’s ability
to renew or replace expiring gathering, transmission or storage contracts at favorable rates, on a long-term basis or at all; risks relating
to the Company’s joint venture arrangements; government regulation or action, including regulations pertaining to methane and other
greenhouse gas emissions; negative public perception of the fossil fuels industry; increased consumer demand for alternatives to natural
gas; environmental and weather risks, including the possible impacts of climate change; and disruptions to the Company’s business
due to recently completed or pending divestitures, acquisitions and other significant strategic transactions. These and other risks and
uncertainties are described under the “Risk Factors” section and elsewhere in EQT’s Annual Report on Form 10-K
for the year ended December 31, 2025 and in other documents EQT subsequently files from time to time with the Securities and Exchange
Commission. In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it.
Any forward-looking statement speaks only as of
the date on which such statement is made, and, except as required by law, the Company does not intend to correct or update any forward-looking
statement, whether as a result of new information, future events or otherwise.
Exhibit 99.2
EQT Announces Pricing of its Tender Offer for
Certain Senior Notes and
Amounts Accepted for Purchase
PITTSBURGH, March 24, 2026 -- EQT
Corporation (NYSE: EQT) (“EQT” and, collectively with its consolidated subsidiaries, the “Company”) today announced
the consideration payable with respect to its previously announced tender offer to purchase for cash (the “Tender Offer”)
certain of its outstanding 3.900% Senior Notes due 2027, 6.375% Senior Notes due 2029, 4.50% Senior Notes due 2029, 5.00% Senior Notes
due 2029, 4.75% Senior Notes due 2031, 3.625% Senior Notes due 2031, 7.000% Senior Notes due 2030 and 7.500% Senior Notes due 2030 (collectively,
the “Notes”) for an aggregate purchase price, excluding accrued and unpaid interest, of up to $1.4 billion (the “Aggregate
Offer Cap”), in accordance with the acceptance priority levels set forth in the table below (the “Acceptance Priority Levels”),
with “1” being the highest Acceptance Priority Level and “8” being the lowest Acceptance Priority Level, and subject
to any applicable Offer SubCap set forth in the table below (such caps, the “Offer SubCaps”).

The following table sets forth some of the terms
of the Tender Offer, including the consideration payable and the aggregate principal amount accepted for purchase for each series of Notes:
|
Title of
Notes |
CUSIP
Number |
Principal
Amount
Outstanding |
Offer
SubCap |
Acceptance
Priority
Level |
Reference
U.S.
Treasury Security |
Reference U.S. Treasury Yield |
Fixed
Spread(1) |
Early
Tender
Premium(2) |
Total Consi-deration(1)(2)(3) |
Principal Amount Accepted |
Approx.
Proration Factor(4) |
|
3.900%
Senior Notes
due 2027 |
26884LAF6 |
$936,158,000 |
$400,000,000 |
1 |
3.500% UST
due September
30, 2027 |
3.952% |
+35bps |
$30 |
$994.16 |
$402,349,000 |
61.3% |
|
6.375%
Senior Notes
due 2029 |
26884LAZ2 /
26884LAY5 /
U2689EAF7 |
$596,725,000
|
$1,000,000,000
|
2 |
4.500% UST
due March 31,
2026 |
4.404% |
+50bps |
$30 |
$1,032.04 |
$547,736,000 |
100.0% |
|
4.50%
Senior Notes
due 2029 |
26884LAX7 /
26884LAW9 /
U2689EAE0 |
$734,583,000
|
3 |
3.500% UST
due February
15, 2029 |
3.925% |
+60bps |
$30 |
$999.29 |
$435,023,000 |
61.7% |
|
5.00%
Senior Notes
due 2029 |
26884LAL3 |
$318,494,000 |
4 |
3.500% UST
due February
15, 2029 |
3.925% |
+60bps |
$30 |
$1,010.21 |
— |
N/A |
|
4.75%
Senior Notes
due 2031 |
26884LBD0 /
26884LBC2 /
U2689EAH3 |
$1,090,218,000 |
N/A |
5 |
3.500% UST
due February
28, 2031 |
4.028% |
+70bps |
$30 |
$1,000.78 |
— |
N/A |
|
3.625%
Senior Notes
due 2031 |
26884LAN9 /
U2689EAB6 |
$435,165,000 |
N/A |
6 |
3.500% UST
due February
28, 2031 |
4.028% |
+85bps |
$30 |
$943.63 |
— |
N/A |
|
7.000%
Senior Notes
due 2030 |
26884LAG4 |
$674,800,000 |
N/A |
7 |
3.500% UST
due February
28, 2031 |
4.028% |
+60bps |
$30 |
$1,077.78 |
— |
N/A |
|
7.500%
Senior Notes
due 2030 |
26884LBB4 /
26884LBA6 /
U2689EAG5 |
$494,086,000 |
N/A |
8 |
3.500% UST
due February
28, 2031 |
4.028% |
+65bps |
$30 |
$1,094.31 |
— |
N/A |
| (1) | Includes the Early Tender Premium. |
| (2) | Per $1,000 principal amount of
Notes accepted for purchase. |
| (3) | In addition to the applicable Total Consideration, holders whose Notes are accepted for purchase will receive accrued and unpaid interest,
rounded to the nearest cent, on such Notes from and including the last interest payment date applicable to the relevant series of Notes
up to, but not including, the settlement date for such Notes. |
| (4) | With respect to the 3.900% Senior Notes due 2027 and the 4.50% Senior Notes due 2029, the proration factor has been rounded to the
nearest tenth of a percentage point for presentation purposes. |
The Tender Offer is being made upon and is subject
to the terms and conditions set forth in the Offer to Purchase dated March 10, 2026, as amended and supplemented by EQT’s news
release earlier today announcing the upsizing of the Aggregate Offer Cap and the Offer SubCap applicable to the 6.375% Senior Notes due
2029, 4.50% Senior Notes due 2029 and 5.00% Senior Notes due 2029 and as it may be further amended or supplemented from time to time (as
so amended, the “Offer to Purchase”). As set forth in the Offer to Purchase, withdrawal rights for the Tender Offer expired
at 5:00 p.m., New York City time, on March 23, 2026. As a result, tendered Notes may no longer be withdrawn. In this news release,
all Notes that have been validly tendered and not validly withdrawn are referred to as having been “validly tendered.”
The applicable consideration (the “Total
Consideration”) to be paid per $1,000 principal amount of each series of Notes validly tendered on or prior to 5:00 p.m., New York
City time, on March 23, 2026 (the “Early Tender Date”) and accepted for purchase is set forth in the table above and
was determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread for such Notes specified in
the table above, plus the applicable yield of the applicable U.S. Treasury security specified in the table above, calculated as of 10:00
a.m., New York City time, today.
The Early Tender Date was the last date and time
for holders to tender their Notes in order to be eligible to receive the Total Consideration, which includes an early tender premium of
$30 per $1,000 principal amount of Notes. In addition to the Total Consideration, holders whose Notes are purchased in the Tender Offer
will receive accrued and unpaid interest, rounded to the nearest cent, on such Notes from and including the last interest payment date
applicable to the relevant series of Notes up to, but not including, the Early Settlement Date (as defined below).
Payment for Notes accepted for purchase is expected
to be made on March 26, 2026 (the “Early Settlement Date”). EQT’s obligation to accept for payment and to pay for
Notes validly tendered in the Tender Offer is subject to the satisfaction or waiver of a number of conditions described in the Offer to
Purchase. EQT reserves the right, subject to applicable law, to hereafter (i) waive or modify, in whole or in part, any or all conditions
of the Tender Offer, (ii) extend, terminate or withdraw the Tender Offer, (iii) increase or decrease the Aggregate Offer Cap
or either or both Offer SubCaps or (iv) otherwise amend the Tender Offer in any respect.
Because the aggregate purchase price, excluding
accrued and unpaid interest, for Notes validly tendered on or prior to the Early Tender Date is greater than the Aggregate Offer Cap,
EQT will accept Notes for purchase based on the Acceptance Priority Procedures and the proration procedures described in the Offer to
Purchase, and EQT does not expect to accept for purchase any tenders of Notes after the Early Tender Date even though the Tender Offer
is not scheduled to expire until 5:00 p.m., New York City time, on April 8, 2026.
Citigroup Global Markets Inc. and BofA Securities, Inc.
are severally acting as the Lead Dealer Managers for the Tender Offer. Any persons with questions regarding the Tender Offer should contact
(i) Citigroup Global Markets Inc. by calling (800) 558-3745 (toll-free) or (212) 723-6106 (collect) or emailing ny.liabilitymanagement@citi.com
or (ii) BofA Securities, Inc. by calling (888) 292-0070 (toll-free) or (980) 287-6959 (collect) or emailing debt_advisory@bofa.com.
The Information Agent and Tender Agent is Global
Bondholder Services Corporation. Copies of the Offer to Purchase and any related Tender Offer materials may be obtained from Global Bondholder
Services Corporation by calling (212) 430-3774 (banks and brokers, collect) or (855) 654-2015 (all others, toll-free) or by emailing contact@gbsc-usa.com.
This news release is for informational purposes
only. The Tender Offer is being made only pursuant to the Offer to Purchase, and the information in this news release is qualified by
reference to the Offer to Purchase. Further, this news release does not constitute an offer to sell or the solicitation of an offer to
buy the Notes or any other securities. No recommendation is made as to whether holders should tender any Notes in response to the Tender
Offer. Holders of Notes must make their own decision as to whether to participate in the Tender Offer and, if so, the principal amount
of Notes to tender.
Investor Contact
Cameron Horwitz
Managing Director, Investor Relations & Strategy
412.445.8454
Cameron.Horwitz@eqt.com
About EQT Corporation
EQT Corporation is a premier, vertically integrated
American natural gas company with upstream and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly
developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes
operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible,
reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors, and communities, and to the
reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day –
trust, teamwork, heart, and evolution are at the center of all we do.
Cautionary Statements
This news release contains certain forward-looking
statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities
Act of 1933, as amended. Statements that do not relate strictly to historical or current facts are forward-looking. Without limiting the
generality of the foregoing, forward-looking statements contained in this news release specifically include statements regarding EQT’s
plans and expected timing with respect to the Tender Offer.
These forward-looking statements involve risks
and uncertainties that could cause actual results to differ materially from projected results. Accordingly, investors should not place
undue reliance on forward-looking statements as a prediction of actual results. The Company has based these forward-looking statements
on current expectations and assumptions about future events, taking into account all information currently known by it. While the Company
considers these expectations and assumptions to be reasonable, they are inherently subject to significant business, economic, competitive,
regulatory and other risks and uncertainties, many of which are difficult to predict and beyond its control. These risks and uncertainties
include, but are not limited to, volatility of commodity prices; the costs and results of drilling and operations; uncertainties about
estimates of reserves, identification of drilling locations and the ability to add proved reserves in the future; the assumptions underlying
production forecasts; the quality of technical data; the Company’s ability to appropriately allocate capital and other resources
among its strategic opportunities; access to and cost of capital; the Company’s hedging and other financial contracts; inherent
hazards and risks normally incidental to drilling for, producing, transporting, storing and processing natural gas, natural gas liquids
(NGLs) and oil; operational risks and hazards incidental to the gathering, transmission and storage of natural gas as well as unforeseen
interruptions; cyber security risks and acts of sabotage; availability and cost of drilling rigs, completion services, equipment, supplies,
personnel, oilfield services and pipe, sand and water required to execute the Company’s exploration and development plans, including
as a result of inflationary pressures or tariffs, particularly on steel and aluminum; risks associated with operating primarily in the
Appalachian Basin; the ability to obtain environmental and other permits and the timing thereof; construction, business, economic, competitive,
regulatory, judicial, environmental, political and legal uncertainties related to the development and construction by the Company or its
joint ventures of pipeline and storage facilities and transmission assets and the optimization of such assets; the Company’s ability
to renew or replace expiring gathering, transmission or storage contracts at favorable rates, on a long-term basis or at all; risks relating
to the Company’s joint venture arrangements; government regulation or action, including regulations pertaining to methane and other
greenhouse gas emissions; negative public perception of the fossil fuels industry; increased consumer demand for alternatives to natural
gas; environmental and weather risks, including the possible impacts of climate change; and disruptions to the Company’s business
due to recently completed or pending divestitures, acquisitions and other significant strategic transactions. These and other risks and
uncertainties are described under the “Risk Factors” section and elsewhere in EQT’s Annual Report on Form 10-K
for the year ended December 31, 2025 and in other documents EQT subsequently files from time to time with the Securities and Exchange
Commission. In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it.
Any forward-looking statement speaks only as of
the date on which such statement is made, and, except as required by law, the Company does not intend to correct or update any forward-looking
statement, whether as a result of new information, future events or otherwise.