RANGE RESOURCES CORP

Our overarching business objective is to build stockholder value through returns-focused development of our natural gas, NGLs and oil properties. The strategy to achieve our business objectives is to generate consistent cash flows from reserves and production through internally generated drilling projects occasionally coupled with complementary acquisitions and dispositions. Our strategy requires us to make significant investments and financial commitments in technical staff, acreage, seismic data, drilling and completion technology and gathering and transportation arrangements to build drilling inventory and market our products. Our strategy has the following key elements that are anchored by our assets located in the Commonwealth of Pennsylvania which is anticipated to have remaining productive life in excess of 50 years:

Commit to Environmental Protection, Worker and Community Safety. We strive to implement technologies and commercial practices to minimize potential adverse impacts from the development of our properties on the environment, worker health and safety and the safety of the communities where we operate. We analyze and review performance while striving for continual improvement by working with peer companies, regulators, non-governmental organizations, industries not related to the oil and natural gas industry and other engaged stakeholders. We expect every employee to maintain safe operations, minimize environmental impact and conduct their daily business with the highest ethical standards. Safety is at the foundation of everything we do at Range and it is essential to our success. We have published on our website our 2024 - 2025 Corporate Sustainability Report which includes more information related to our sustainability practices.

Concentrate in Our Core Operating Area. We currently operate in the Commonwealth of Pennsylvania. Concentrating our drilling and producing activities allows us to develop the regional expertise needed to interpret specific geological and operating conditions and develop economies of scale. Our management team has extensive experience in executing a multi-rig development drilling program, planning long-term logistics, marketing production and prudently allocating capital. Operating in our core area also allows us to pursue our goal of consistent production at attractive returns. We intend to further develop our acreage and improve our operating and financial results through the use of technology and detailed analysis of our properties. We periodically evaluate and pursue acquisition opportunities (including opportunities to acquire particular natural gas, NGLs and oil properties or entities owning natural gas and oil assets) and at any given time we may be in various stages of evaluating such opportunities.

Focus on Cost Efficiency. We concentrate in areas which we believe to have sizable hydrocarbon deposits in place that will allow economic production while controlling costs. Because there is little long-term competitive sales price advantage available to a commodity producer, the costs to find, develop, and produce a commodity are important to organizational sustainability and long-term stockholder value creation. We endeavor to control costs such that our cost to find, develop and produce natural gas, NGLs and oil is one of the lowest in the industry. We operate almost all of our total net production and believe that our extensive knowledge of the geologic and operating conditions in the areas where we operate provides us with the ability to achieve operational efficiencies.

Maintain a High-Quality Multi-Year Drilling Inventory. We focus on areas with multiple prospective and productive horizons and development opportunities. We use our technical expertise to build and maintain a multi-year drilling inventory. We believe that a large, high-quality multi-year inventory of drilling projects increases our ability to efficiently plan for economic production. Currently, we have an estimated 27 million lateral feet of drilling inventory remaining in the Marcellus Shale, both proved and unproved.

Maintain a Long-Life Reserve Base with a Low Base Decline Rate. Long-life natural gas, NGLs and oil reserves provide a more stable platform than short-life reserves. Long-life reserves with relatively low decline rates reduce reinvestment risk as they lessen the amount of reinvestment capital deployed each year to replace production. Long-life natural gas, NGLs and oil reserves also assist us in minimizing costs as stable production makes it easier to build and maintain operating economies of scale and also offer upside from technology enhancements.

Market Our Products to a Large Number of Customers in Diverse Markets Under a Variety of Commercial Terms. We market our natural gas, NGLs and oil to a large number of customers in both domestic and international markets to maximize cash flow and diversify risk. We hold numerous firm transportation contracts on multiple pipelines to enable us to transport and sell natural gas and NGLs in the Midwest, Gulf Coast, Southeast, Northeast and international markets. We sell our products under a variety of price indices and price formulas that assist us in optimizing regional price differentials and reducing commodity price volatility.

Maintain Operational and Financial Flexibility. Because of the risks involved in drilling, coupled with changing commodity prices, we are flexible and may adjust our capital budget or other projections throughout the year. We are the operator of almost all of our total net production. This operating control allows us to better execute our strategies of enhancing returns through operational and cost efficiencies and increasing recovery of hydrocarbons by seeking to continually improve our drilling techniques, completion methodologies and reservoir evaluation process. We believe our asset base, revenue diversity, low-cost structure and strong balance sheet provide us the flexibility we need to thrive across various commodity price environments. We also believe in maintaining ample liquidity, using commodity derivatives to help stabilize our realized prices, and focusing on financial discipline. We believe this provides more predictable cash flows and financial results.

Provide Employee Equity Ownership and Incentive Compensation Aligned with Our Stakeholders’ Interests. We want our employees to think and act like business owners. To achieve this, we reward and encourage them through equity ownership in Range. All full-time employees are eligible to receive equity grants. As of December 31, 2025, our employees and directors owned equity securities in our benefit plans (vested and unvested) that had an aggregate market value of approximately $140.6 million. However, many employees and directors have Range stock ownership outside of our benefit plans, which would only further increase the total market value owned. We seek to align our incentive compensation with stakeholders’ interests and key business objectives. Members of our board of directors annually engage with stockholders to discuss our incentive compensation framework.