CNX Resources Corp — Call Transcript 2026

Good day. Welcome to the 2026 CNX Resources Annual Meeting of Shareholders. I would now like to turn the conference over to Ian McGuire. Please go ahead. I am Ian McGuire, Chairman of the Board of Directors. I now call the meeting to order. Representatives of our auditors, Ernst & Young, are present. They've informed me that they do not wish to make a statement. They are available to answer questions during the Q&A portion of the meeting. In connection with this meeting, I wanted to mention a few housekeeping items. We are excited to be hosting our shareholder meeting virtually. The virtual approach provides a convenient way to access our proxy materials and vote, enables greater shareholder participation in the proceedings, and reduces the cost and environmental impact of our annual meeting, which is consistent with our commitment to sustainable business practices. In order to provide a fair, informative, and orderly meeting, we've established rules of conduct for the meeting, which can be found in the lower portion of your screen. We will conduct the meeting in accordance with these rules, and your cooperation is greatly appreciated. During the meeting, shareholders have the opportunity to submit questions in writing where indicated on the website portal. Please submit your questions by typing the question into the Ask a Question field and clicking Submit. Questions violating the rules of conduct will not be answered. We will do our best to respond to appropriate questions received relating to the business of the meeting in the time permitted. We will address any unanswered appropriate questions on our investor relations page under Events and Presentations as soon as practicable after the meeting. Since our earnings release was recently issued and we made a number of management presentations regarding CNX during the year, all of which are available to you on our website, we will not hold a management presentation at this meeting. I'm now gonna ask Tim Bedard, our Executive Vice President, General Counsel, and Corporate Secretary, to handle the business portion of today's meeting. Thank you, Ian. This meeting is being held pursuant to the Notice of Annual Meeting of Shareholders and Proxy Statement released to shareholders on March 26, 2026, which were provided to shareholders of record as of the close of business on March 9, 2026. In accordance with Delaware law, a list of shareholders as of March 9, 2026, the record date, has been made available for the examination by shareholders for any purpose germane to this meeting for a period of at least 10 days prior to the meeting. CNX has appointed Mr. Tony Carideo of The Carideo Group to serve as the Inspector of Elections at the meeting. As the Inspector of Elections, Mr. Carideo will determine the presence of a quorum and judge the voting on all matters requiring a shareholder vote at this meeting. I've been informed by the Inspector of Elections that a majority of the outstanding shares of common stock entitled to vote at this meeting is represented. Therefore, a quorum is present for purposes of transacting the business of this meeting, and I declare that this meeting is legally convened. As described in detail in our proxy statement, there are three matters before this meeting for action by the shareholders. The board recommends that shareholders vote for each of the Director nominees named in proposal 1 and for proposals 2 and 3. To summarize, the proposals are as follows. First, the election of the eight Director nominees named in the proxy statement. Second, ratification of the anticipated appointment of Ernst & Young LLP as CNX's Independent Auditor for the fiscal year ending December 31st, 2026. Third, advisory approval of CNX's named Executive Officer compensation. The time is now 10:04 A.M. on May 7th, 2026, and the polls are open for voting on each of these matters. For purposes of efficiency, since most shareholders have voted prior to this meeting, we will conduct a vote on all of these matters simultaneously. If you haven't voted yet or wish to change your vote, you may do so now by clicking on the voting button on the web portal and following the instructions there. Remember, if you have voted, you should not vote through the web portal unless you specifically desire to revoke your proxy or change your vote. We will now take a minute to allow the shareholders voting through the web portal an opportunity to finish doing so. The time is now 10:05 A.M. on May 7, 2026, and I declare the polls closed for each matter and direct the Inspector of Elections to tabulate the votes. We've been informed by the Inspector of Elections that the preliminary vote report shows the following. Each of the eight Director nominees has been elected. The anticipated appointment of Ernst & Young as CNX's independent auditor for the fiscal year ending December 31, 2026, has been approved. CNX's named executive officer compensation has been approved on an advisory basis. These results are preliminary until we receive a final report from the Inspector of Elections. After we receive this report, CNX will disclose the final results on a Form 8-K filed with the SEC within four business days after this meeting. There being no further business to come before this meeting, the formal part of the meeting is adjourned. We will now address any appropriate questions. Since there are no questions, the Q&A is concluded, and I will now turn the meeting back over to Ian McGuire to close the meeting. This concludes the annual meeting of shareholders for 2026. We appreciate your attendance at this meeting. Thank you for your investment in CNX Resources Corporation. The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.

Speaker 2: Good day. Welcome to the 2026 CNX Resources Annual Meeting of Shareholders. I would now like to turn the conference over to Ian McGuire. Please go ahead. Good day. good day Welcome to the 2026 CNX Resources Annual Meeting of Shareholders. welcome to the 2026 cnx resources annual meeting of shareholders I would now like to turn the conference over to Ian McGuire. i would now like to turn the conference over to ian mcguire Please go ahead. please go ahead

Speaker 1: I am Ian McGuire, Chairman of the Board of Directors. I now call the meeting to order. Representatives of our auditors, Ernst & Young, are present. They've informed me that they do not wish to make a statement. They are available to answer questions during the Q&A portion of the meeting. In connection with this meeting, I wanted to mention a few housekeeping items. We are excited to be hosting our shareholder meeting virtually. The virtual approach provides a convenient way to access our proxy materials and vote, enables greater shareholder participation in the proceedings, and reduces the cost and environmental impact of our annual meeting, which is consistent with our commitment to sustainable business practices. I am Ian McGuire, Chairman of the Board of Directors. i am ian mcguire chairman of the board of directors I now call the meeting to order. i now call the meeting to order Representatives of our auditors, Ernst & Young, are present. representatives of our auditors ernst & young are present They've informed me that they do not wish to make a statement. they've informed me that they do not wish to make a statement They are available to answer questions during the Q&A portion of the meeting. they are available to answer questions during the q&a portion of the meeting In connection with this meeting, I wanted to mention a few housekeeping items. in connection with this meeting i wanted to mention a few housekeeping items We are excited to be hosting our shareholder meeting virtually. we are excited to be hosting our shareholder meeting virtually The virtual approach provides a convenient way to access our proxy materials and vote, enables greater shareholder participation in the proceedings, and reduces the cost and environmental impact of our annual meeting, which is consistent with our commitment to sustainable business practices. the virtual approach provides a convenient way to access our proxy materials and vote enables greater shareholder participation in the proceedings and reduces the cost and environmental impact of our annual meeting which is consistent with our commitment to sustainable business practices In order to provide a fair, informative, and orderly meeting, we've established rules of conduct for the meeting, which can be found in the lower portion of your screen. In order to provide a fair, informative, and orderly meeting, we've established rules of conduct for the meeting, which can be found in the lower portion of your screen. in order to provide a fair informative and orderly meeting we've established rules of conduct for the meeting which can be found in the lower portion of your screen We will conduct the meeting in accordance with these rules, and your cooperation is greatly appreciated. During the meeting, shareholders have the opportunity to submit questions in writing where indicated on the website portal. Please submit your questions by typing the question into the Ask a Question field and clicking Submit. Questions violating the rules of conduct will not be answered. We will do our best to respond to appropriate questions received relating to the business of the meeting in the time permitted. We will conduct the meeting in accordance with these rules, and your cooperation is greatly appreciated. we will conduct the meeting in accordance with these rules and your cooperation is greatly appreciated During the meeting, shareholders have the opportunity to submit questions in writing where indicated on the website portal. during the meeting shareholders have the opportunity to submit questions in writing where indicated on the website portal Please submit your questions by typing the question into the Ask a Question field and clicking Submit. please submit your questions by typing the question into the ask a question field and clicking submit Questions violating the rules of conduct will not be answered. questions violating the rules of conduct will not be answered We will do our best to respond to appropriate questions received relating to the business of the meeting in the time permitted. we will do our best to respond to appropriate questions received relating to the business of the meeting in the time permitted We will address any unanswered appropriate questions on our investor relations page under Events and Presentations as soon as practicable after the meeting. Since our earnings release was recently issued and we made a number of management presentations regarding CNX during the year, all of which are available to you on our website, we will not hold a management presentation at this meeting. We will address any unanswered appropriate questions on our investor relations page under Events and Presentations as soon as practicable after the meeting. we will address any unanswered appropriate questions on our investor relations page under events and presentations as soon as practicable after the meeting Since our earnings release was recently issued and we made a number of management presentations regarding CNX during the year, all of which are available to you on our website, we will not hold a management presentation at this meeting. since our earnings release was recently issued and we made a number of management presentations regarding cnx during the year all of which are available to you on our website we will not hold a management presentation at this meeting I'm now gonna ask Tim Bedard, our Executive Vice President, General Counsel, and Corporate Secretary, to handle the business portion of today's meeting. I'm now gonna ask Tim Bedard, our Executive Vice President, General Counsel, and Corporate Secretary, to handle the business portion of today's meeting. i'm now gonna ask tim bedard our executive vice president general counsel and corporate secretary to handle the business portion of today's meeting

Speaker 3: Thank you, Ian. This meeting is being held pursuant to the Notice of Annual Meeting of Shareholders and Proxy Statement released to shareholders on March 26, 2026, which were provided to shareholders of record as of the close of business on March 9, 2026. In accordance with Delaware law, a list of shareholders as of March 9, 2026, the record date, has been made available for the examination by shareholders for any purpose germane to this meeting for a period of at least 10 days prior to the meeting. CNX has appointed Mr. Tony Carideo of The Carideo Group to serve as the Inspector of Elections at the meeting. As the Inspector of Elections, Mr. Carideo will determine the presence of a quorum and judge the voting on all matters requiring a shareholder vote at this meeting. Thank you, Ian. thank you ian This meeting is being held pursuant to the Notice of Annual Meeting of Shareholders and Proxy Statement released to shareholders on March 26, 2026, which were provided to shareholders of record as of the close of business on March 9, 2026. this meeting is being held pursuant to the notice of annual meeting of shareholders and proxy statement released to shareholders on march 26 2026 which were provided to shareholders of record as of the close of business on march 9 2026 In accordance with Delaware law, a list of shareholders as of March 9, 2026, the record date, has been made available for the examination by shareholders for any purpose germane to this meeting for a period of at least 10 days prior to the meeting. in accordance with delaware law a list of shareholders as of march 9 2026 the record date has been made available for the examination by shareholders for any purpose germane to this meeting for a period of at least 10 days prior to the meeting CNX has appointed Mr. Tony Carideo of The Carideo Group to serve as the Inspector of Elections at the meeting. cnx has appointed mr tony carideo of the carideo group to serve as the inspector of elections at the meeting As the Inspector of Elections, Mr. Carideo will determine the presence of a quorum and judge the voting on all matters requiring a shareholder vote at this meeting. as the inspector of elections mr carideo will determine the presence of a quorum and judge the voting on all matters requiring a shareholder vote at this meeting I've been informed by the Inspector of Elections that a majority of the outstanding shares of common stock entitled to vote at this meeting is represented. Therefore, a quorum is present for purposes of transacting the business of this meeting, and I declare that this meeting is legally convened. As described in detail in our proxy statement, there are three matters before this meeting for action by the shareholders. The board recommends that shareholders vote for each of the Director nominees named in proposal 1 and for proposals 2 and 3. I've been informed by the Inspector of Elections that a majority of the outstanding shares of common stock entitled to vote at this meeting is represented. i've been informed by the inspector of elections that a majority of the outstanding shares of common stock entitled to vote at this meeting is represented Therefore, a quorum is present for purposes of transacting the business of this meeting, and I declare that this meeting is legally convened. therefore a quorum is present for purposes of transacting the business of this meeting and i declare that this meeting is legally convened As described in detail in our proxy statement, there are three matters before this meeting for action by the shareholders. as described in detail in our proxy statement there are three matters before this meeting for action by the shareholders The board recommends that shareholders vote for each of the Director nominees named in proposal 1 and for proposals 2 and 3. the board recommends that shareholders vote for each of the director nominees named in proposal 1 and for proposals 2 and 3 To summarize, the proposals are as follows. First, the election of the eight Director nominees named in the proxy statement. Second, ratification of the anticipated appointment of Ernst & Young LLP as CNX's Independent Auditor for the fiscal year ending December 31st, 2026. Third, advisory approval of CNX's named Executive Officer compensation. To summarize, the proposals are as follows. to summarize the proposals are as follows First, the election of the eight Director nominees named in the proxy statement. first the election of the eight director nominees named in the proxy statement Second, ratification of the anticipated appointment of Ernst & Young LLP as CNX's Independent Auditor for the fiscal year ending December 31st, 2026. second ratification of the anticipated appointment of ernst & young llp as cnx's independent auditor for the fiscal year ending december 31st 2026 Third, advisory approval of CNX's named Executive Officer compensation. third advisory approval of cnx's named executive officer compensation The time is now 10:04 A.M. on May 7th, 2026, and the polls are open for voting on each of these matters. For purposes of efficiency, since most shareholders have voted prior to this meeting, we will conduct a vote on all of these matters simultaneously. If you haven't voted yet or wish to change your vote, you may do so now by clicking on the voting button on the web portal and following the instructions there. Remember, if you have voted, you should not vote through the web portal unless you specifically desire to revoke your proxy or change your vote. We will now take a minute to allow the shareholders voting through the web portal an opportunity to finish doing so. The time is now 10:04 A.M. on May 7th, 2026, and the polls are open for voting on each of these matters. the time is now 10:04 a.m on may 7th 2026 and the polls are open for voting on each of these matters For purposes of efficiency, since most shareholders have voted prior to this meeting, we will conduct a vote on all of these matters simultaneously. for purposes of efficiency since most shareholders have voted prior to this meeting we will conduct a vote on all of these matters simultaneously If you haven't voted yet or wish to change your vote, you may do so now by clicking on the voting button on the web portal and following the instructions there. if you haven't voted yet or wish to change your vote you may do so now by clicking on the voting button on the web portal and following the instructions there Remember, if you have voted, you should not vote through the web portal unless you specifically desire to revoke your proxy or change your vote. remember if you have voted you should not vote through the web portal unless you specifically desire to revoke your proxy or change your vote We will now take a minute to allow the shareholders voting through the web portal an opportunity to finish doing so. we will now take a minute to allow the shareholders voting through the web portal an opportunity to finish doing so The time is now 10:05 A.M. on May 7, 2026, and I declare the polls closed for each matter and direct the Inspector of Elections to tabulate the votes. We've been informed by the Inspector of Elections that the preliminary vote report shows the following. Each of the eight Director nominees has been elected. The anticipated appointment of Ernst & Young as CNX's independent auditor for the fiscal year ending December 31, 2026, has been approved. CNX's named executive officer compensation has been approved on an advisory basis. The time is now 10:05 A.M. on May 7, 2026, and I declare the polls closed for each matter and direct the Inspector of Elections to tabulate the votes. the time is now 10:05 a.m on may 7 2026 and i declare the polls closed for each matter and direct the inspector of elections to tabulate the votes We've been informed by the Inspector of Elections that the preliminary vote report shows the following. we've been informed by the inspector of elections that the preliminary vote report shows the following Each of the eight Director nominees has been elected. each of the eight director nominees has been elected The anticipated appointment of Ernst & Young as CNX's independent auditor for the fiscal year ending December 31, 2026, has been approved. the anticipated appointment of ernst & young as cnx's independent auditor for the fiscal year ending december 31 2026 has been approved CNX's named executive officer compensation has been approved on an advisory basis. cnx's named executive officer compensation has been approved on an advisory basis These results are preliminary until we receive a final report from the Inspector of Elections. After we receive this report, CNX will disclose the final results on a Form 8-K filed with the SEC within four business days after this meeting. There being no further business to come before this meeting, the formal part of the meeting is adjourned. These results are preliminary until we receive a final report from the Inspector of Elections. these results are preliminary until we receive a final report from the inspector of elections After we receive this report, CNX will disclose the final results on a Form 8-K filed with the SEC within four business days after this meeting. after we receive this report cnx will disclose the final results on a form 8-k filed with the sec within four business days after this meeting There being no further business to come before this meeting, the formal part of the meeting is adjourned. there being no further business to come before this meeting the formal part of the meeting is adjourned We will now address any appropriate questions. Since there are no questions, the Q&A is concluded, and I will now turn the meeting back over to Ian McGuire to close the meeting. We will now address any appropriate questions. we will now address any appropriate questions Since there are no questions, the Q&A is concluded, and I will now turn the meeting back over to Ian McGuire to close the meeting. since there are no questions the q&a is concluded and i will now turn the meeting back over to ian mcguire to close the meeting

Speaker 1: This concludes the annual meeting of shareholders for 2026. We appreciate your attendance at this meeting. Thank you for your investment in CNX Resources Corporation. This concludes the annual meeting of shareholders for 2026. this concludes the annual meeting of shareholders for 2026 We appreciate your attendance at this meeting. we appreciate your attendance at this meeting Thank you for your investment in CNX Resources Corporation. thank you for your investment in cnx resources corporation

Speaker 2: The conference is now concluded. Thank you for attending today's presentation. You may now disconnect. The conference is now concluded. the conference is now concluded Thank you for attending today's presentation. thank you for attending today's presentation You may now disconnect. you may now disconnect