CNX Resources Corporation Completes \$500 Million Senior Notes Offering

Key Developments and Strategic Implications for Shareholders

PITTSBURGH, February 26, 2026 – CNX Resources Corporation (NYSE: CNX) has announced the successful closing of its private placement of \$500 million aggregate principal amount of 5.875% senior notes due 2034 (the “Notes”). This move represents a significant financial maneuver for the company, with several important implications for shareholders and potential impacts on the company’s share price.

Key Points of the Announcement

• Private Placement Details: CNX completed the issuance of \$500 million in 5.875% senior notes due 2034. The offering was executed under an indenture dated February 26, 2026, with UMB Bank, N.A. acting as trustee. The Notes are fully guaranteed by all of CNX’s restricted subsidiaries that also guarantee its revolving credit facility.
• Use of Proceeds: The net proceeds from the Notes will be used primarily to:
  1. Repurchase any and all of its outstanding 6.000% senior notes due 2029 via a concurrent tender offer (the “2029 Notes” and “Tender Offer”).
  2. Redeem any 2029 Notes not repurchased in the Tender Offer (the “Redemption”).

  If the net proceeds are insufficient to meet the Tender Offer and Redemption obligations, CNX will utilize its revolving credit facility for additional funds. Any excess proceeds will be used to temporarily pay down the revolving credit facility.

• Targeted Investors: The Notes are not registered under the Securities Act of 1933 and are offered only to qualified institutional buyers under Rule 144A, and to certain non-U.S. investors under Regulation S.
• Company Positioning: CNX highlighted its unique position as an ultra-low carbon intensive natural gas development, production, midstream, and technology company, with a 161-year regional legacy and 9.7 trillion cubic feet equivalent of proved reserves as of December 31, 2025. The company is a member of the S&P Midcap 400 Index.

Important Considerations for Shareholders

• Debt Refinancing Strategy: Replacing higher-coupon 2029 Notes (6.000%) with lower-rate 2034 Notes (5.875%) can reduce future interest expenses and improve the company’s capital structure. This is a positive step towards enhancing free cash flow and long-term shareholder value.
• Potential Share Price Impact: The capital restructuring, with an emphasis on reducing debt costs and reinforcing liquidity, is a strategic move that may support share price appreciation, enhance credit metrics, and bolster investor confidence.
• Risk Factors: The company cautions that forward-looking statements in the release are subject to various risks, uncertainties, and contingencies—many outside management’s control. These include business, economic, competitive, and regulatory factors, as detailed in the company’s 2025 Annual Report on Form 10-K under “Risk Factors.”
• No Offer to Sell Securities: The press release does not constitute an offer to sell or buy any securities, nor does it serve as a notice of redemption for the 2029 Notes. The Notes offering was made only by means of an offering memorandum.

Forward-Looking Statements

The company emphasizes that statements regarding expectations, intentions, or beliefs about the offering, tender, and redemption are forward-looking and speak only as of the date of this announcement. CNX disclaims any obligation to update such statements unless required by law. Shareholders are advised to consider all related risks when evaluating this announcement.

Conclusion

For investors, this announcement is a noteworthy development as it directly impacts CNX’s capital structure, cost of debt, and overall financial flexibility. The company’s focus on reducing interest costs and deploying capital efficiently could have favorable long-term implications for shareholder value and the company’s competitive positioning within the energy sector.

Disclaimer: This article is prepared for informational purposes only and should not be construed as investment advice or a recommendation to buy or sell any securities. Investors should consider consulting their financial advisor and review the company’s filings with the SEC for complete information and risk disclosures.

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