CNX Resources Corporation (?CNX? or the ?Company?) as borrower and certain of its subsidiaries as guarantor loan parties entered into a new Fourth Amended and Restated Credit Agreement for a senior secured revolving credit facility, dated as of May 17, 2024 (the ?CNX Credit Agreement?) and maturing on May 17, 2029, with certain lenders and PNC Bank, National Association as administrative agent and collateral agent. The new senior secured revolving credit facility has a $2.25 billion borrowing base and $1.4 billion elected commitments and replaces the Company?s existing senior secured revolving credit facility which had a $2.25 billion borrowing base and $1.35 billion elected commitments, had been entered into as of October 6, 2021 (together with all amendments, supplements and modifications thereto, the ?Existing CNX Facility?), and had a maturity of October 6, 2026.

The CNX Credit Agreement provides for a secured revolving credit facility (the ?CNX Credit Facility?) in an aggregate outstanding principal amount of up to $1.4 billion, including borrowings and letters of credit. In addition to refinancing all outstanding amounts under the Existing CNX Facility, borrowings under the CNX Credit Facility may be used by CNX for general corporate purposes. The availability under the CNX Credit Facility, including availability for letters of credit, is generally limited to a borrowing base, which is determined by the required number of lenders in good faith by calculating a loan value of the Company?s proved reserves.

Interest on outstanding indebtedness under the CNX Credit Facility currently accrues, at the Company?s option, at a rate based on either: the highest of (i)PNC Bank, National Association?s prime rate, (ii)the federal funds open rate plus 0.50%, and (iii)the one-month SOFR rate plus 1.0%, in each case, plus a margin ranging from 0.75% to 1.75%; or the SOFR rate plus a margin ranging from 1.85% to 2.85%. The CNX Credit Facility matures on May 17, 2029, provided that if at any time on or after (1) January 30, 2026 (or October 31, 2025, if any Pari Passu Term B Debt (as defined in the CNX Credit Facility) is outstanding with a springing maturity date), if any of the Company?s 2.25% Convertible Senior Notes due 2026 are outstanding and (a) availability under the CNX Credit Facility minus (b) the aggregate principal amount of all such outstanding Convertible Senior Notes is less than 20% of the aggregate commitments under the CNX Credit Facility, or (2) October 16, 2028 (or July 17, 2028, if any Pari Passu Term B Debt is outstanding with a springing maturity date), if any of the Company?s 6.0% Senior Notes due 2029 are outstanding and (a) availability under the CNX Credit Facility minus (b) the aggregate principal amount of all such outstanding Senior Notes is less than 20% of the aggregate commitments under the CNX Credit Facility (the first such date on which the circumstances in either clause (1) or clause (2) shall exist, the ? Springing Maturity Date?), then the CNX Credit Facility will mature on the Springing Maturity Date.