Cnx Resources Corporation · NYSE:CNX

Cnx Resources — Q2 2021 Earnings Presentation

10 slides from Cnx Resources's earnings presentation, Jul 29, 2021

  1. Slide 1: Q2 2021 Update

    Cc Q2 2021 Update July 29, 2021

  2. Slide 2: Q2 2021 Highlights

    Q2 2021 Highlights “CNX continued to successfully execute its plan by delivering another quarter of 2ND QUARTER SNAPSHOT(1) positive free cash flow, reducing absolute debt, and continuing share buybacks at attractive pricing," commented Nick DeIuliis, president and CEO. “Our ability to $117MM 17% co

  3. Slide 3: CNX Net Carbon Negative for Scope 1&2 Emissions Since 2013

    CNX Net Carbon Negative for Scope 1&2 Emissions Since 2013 CNX is Scope 1 & 2 Net Carbon Negative 2,000,000 ▪ Consistent reduction in Scope 1 GHG 1,000,000 emissions, with 90% reduction since 2013 - Metric Tons of CO2e (1,000,000) ▪ Coal Mine Methane capture results in ~8 (2,000,000) Million MT/Year

  4. Slide 4: Key 2021 Financial Metrics Lead Across Major Indices

    Key 2021 Financial Metrics Lead Across Major Indices 17% 32% 2.0x FCF Yield(1) Operating Margin(1) Leverage Ratio(1) percentile S&P 1500 Index 96th 74th 61st percentile S&P 1500 Industrials 97th 94th 70th percentile S&P 400 Mid Cap 97th 76th 60th percentile S&P 600 Small Cap 91st 84th 61st Note: Fin

  5. Slide 5: Peer Leading Cost Structure Drives FCF Generation

    Peer Leading Cost Structure Drives FCF Generation LOWEST PRODUCTION COSTS IN APPALACHIA… …UNDERPIN MEANINGFUL RETURNS • CNX owns its own midstream system • $117MM in FCF(1) in Q2 2021 • Did not meaningfully subscribe to expensive FT contracts • Generated $574MM of FCF(1) over last 6 quarters • Expec

  6. Slide 6: Low Costs Driving Strong Operating Margins

    Low Costs Driving Strong Operating Margins Fully Burdened Costs(1) $1.29 Fully burdened $1.17 $1.09 $1.05 costs expected $0.45 $1.01 $1.01 $0.27 $0.21 to further decline $0.18 $0.20 $0.23 in long-term plan $/Mcfe $0.17 $0.15 $0.18 $0.15 $0.11 to average $0.21 approximately $0.90 per Mcfe(2) $0.73 $0

  7. Slide 7: Six Consecutive Quarters of Generating Significant FCF

    Six Consecutive Quarters of Generating Significant FCF $500 Free Cash Flow (FCF)(1) ~$475 $450 $400 Six consecutive quarters of $350 generating $300 significant FCF, $ in millions used to pay down $250 debt and return $200 capital to shareholders $150 $129 $121 $117 $101 $100 $85 $50 $21 $0 1Q20 2Q2

  8. Slide 8: Balance Sheet and Liquidity Strength

    Balance Sheet and Liquidity Strength Significant liquidity under credit facilities – Combined borrowing Maturities as of June 30, 2021 (Adjusted)(1) ($ in millions) base of ~$2.4 billion 2500 4.6% 5% 4.5% 4.1% 2000 4% Undrawn Revolver Net debt reduced by ~$89 million $ in millions Capacity in Q2 150

  9. Slide 9: Guidance Update & Cash Taxes

    Guidance Update & Cash Taxes 2021 Guidance Taxes PREVIOUS UPDATED As of YE2020, the company’s future federal and state 2021E 2021E cash taxes are impacted by: ($ in millions) Low High Low High ▪ Federal NOL balance of ~$1.0 billion Total Capital Expenditures $430 - $470 $430 - $470 ▪ Significant sta

  10. Slide 10: Investor Contacts & Notices

    Investor Contacts & Notices regional and national economic conditions and the impact they may have on our customers; the impact of outbreaks of communicable diseases such as COVID-19 on business activity, our operations and national and global economic conditions, Investor Relations Contact generall

CNX Resources — Q2 2021 Earnings Presentation on 6ix