Antero Resources Corp

During the year, we used this Free Cash Flow to finance several bolt-on acquisitions, pay down $182 million of debt, and purchase $163 million of stock.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Looking ahead, we will continue to focus on opportunistically adding to our position in the core of the West Virginia Marcellus, maintaining low absolute debt levels and repurchasing our stock.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

” For a discussion of the non-GAAP financial measures including Adjusted Net Income, Adjusted EBITDAX, Free Cash Flow and Net Debt please see “Non-GAAP Financial Measures.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Antero has approximately $915 million of capacity remaining on its previously approved share repurchase program.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Mont Belvieu ($/Bbl) $ 1.25 $ 1.75 Land Capital Expenditures ($MM) $ 25 $ 50 Full Year 2025 Revised Full Year 2025 Guidance Updates Low High Land Capital Budget ($MM) $ 125 $ 150 C3+ NGL Realized Price Premium vs.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Three Months Ended September 30, 2024 2025 Net cash provided by operating activities $ 166,177 310,090 Less: Capital expenditures (173,630 ) (202,659 ) Less: Distributions to non-controlling interests in Martica (15,736 ) (16,525 ) Free Cash Flow $ (23,189 ) 90,906 Changes in Working Capital (1) 12,222 (21,311 ) Free Cash Flow before Changes in Working Capital $ (10,967 ) 69,595 (1) Working capital adjustments in the third quarter of 2024 includes $11 million in net decreases in current assets and liabilities and $1 million in net decreases in accounts payable and accrued liabilities for additions to property and equipment.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

These strategic transactions are immediately accretive on a per share basis across all key metrics including Free Cash Flow and Net Asset Value.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Looking ahead, we will continue to focus on opportunistically adding to our position in the core of the West Virginia Marcellus, maintaining low absolute debt levels and repurchasing our stock.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

” 1 Strategic Initiatives Acquisitions - Antero completed three separate acquisitions, all in its West Virginia development footprint, for approximately $260 million.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

" Words such as “may,” “assume,” “forecast,” “position,” “predict,” “strategy,” “expect,” “intend,” “plan,” “estimate,” “anticipate,” “believe,” “project,” “budget,” “potential,” or “continue,” “goal,” “target,” and similar expressions are used to identify forward-looking statements, although not all forward-looking statements contain such identifying words.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

All statements, other than statements of historical fact included in this Quarterly Report on Form 10-Q, regarding our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements.

SEC original ↗Antero Resources Corp — 10-Q Quarterly report10-QOct 28, 2026

Such forward-looking statements are subject to a number of risks and uncertainties, many of which are not under Antero Resources’ control.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Antero Resources cautions you that these forward-looking statements are subject to all of the risks and uncertainties, incidental to our business, most of which are difficult to predict and many of which are beyond the Antero Resources’ control.

SEC original ↗Antero Resources Corp — Earnings release (8-K exhibit)EX-99Oct 29, 2025

Legal Proceedings 57 Item 1A.

SEC original ↗Antero Resources Corp — 10-Q Quarterly report10-QOct 28, 2026

We caution investors that these forward-looking statements are subject to all of the risks and uncertainties incidental to our business, most of which are difficult to predict and many of which are beyond our control.

SEC original ↗Antero Resources Corp — 10-Q Quarterly report10-QOct 28, 2026

Should one or more of the risks or uncertainties described or referenced in this Quarterly Report on Form 10-Q occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements.

SEC original ↗Antero Resources Corp — 10-Q Quarterly report10-QOct 28, 2026

Operating results for the three and nine months ended September 30, 2026 are not necessarily indicative of the results that may be expected for the full year because of the impact of changes in prices received for natural gas, NGLs and oil, natural production declines, the uncertainty of exploration and development drilling results, changes in the fair value of derivative instruments and other factors.

SEC original ↗Antero Resources Corp — 10-Q Quarterly report10-QOct 28, 2026