Expand Energy Corp 2024年度报告

Expanding with Purpose Dear Fellow Shareholders, Now, more than ever, the world needs affordable, reliable and lowercarbon energy. Population growth and increased technologicaldemands have heightened the need for energy access and securityto support innovation, societal progress and human well-being. Expanding Energy Access Expand Energy was formed on the belief that U.S. natural gas is best positioned to deliver critical energy to global markets. By successfully completing the merger of two companies and establishing ExpandEnergy as the U.S.’s largest natural gas producer, we are expanding energy access and accelerating opportunity for all stakeholders. Expand Energy’s scale and strength enable us to respond to volatile market conditions and spend less, giving us a competitive advantagein meeting the world’s evolving energy needs. Our Strategy: Expanding Returns, Expanding Opportunities Delivering on our corporate strategy requires innovative and experienced leadership and effective governance. This starts with our Boardof Directors and management team who foster a culture of integrity while executing on Expand Energy’s strategic pillars for shareholdervalue creation. We pride ourselves on our ability to react to market changes and, when needed, disrupt traditional industry practices. Expand Energywas built to meet growing demand by enhancing margins, reaching more markets and being LNG ready. S&P Dow Jones Indices recentlyaffirmed our strategy and portfolio performance, adding EXE to the S&P 500 in March 2025. Peer-leadingReturns ResponsibleStewardship ResilientFinancialFoundation Attractive,ConnectedPortfolio Connecting affordable,reliable and lower carbonenergy to markets in need Most efficient operatorwith proven track recordof delivering returns toshareholders Premium rock, returns,runway with access topremium markets Investment Grade balancesheet provides strategicthrough-cycle advantages Expanding with Purpose Our enhanced portfolio, resilient balance sheet and flexible production profile position us to effectively navigate price cycles. As marketfundamentals continue to improve the outlook for natural gas, we plan to invest approximately $3.0 billion of capital in 2025. This cap-ital spend positions the Company to deliver 7.1 Bcfe per day in 2025 with the option to grow to 7.5 Bcfe per day in 2026 at a time whennatural gas supply is anticipated to be constrained.250300 Key to our long-term success is our unwavering commitment to corporate responsibility. Our mission, vision and values help drive ourdecision-making and enhance our ability to deliver value for all our stakeholders. With this strong foundation, we focus on ensuringadequate energy access for our consumers, minimizing emissions, reducing environmental impact and cultivating a culture whereeveryone owns safety.100150200 While no single organization can solve the global energy security crisis, Expand Energy is devoted to being a catalyst for progress. Ourconfidence flows from the strength of our team — we have the right people in place who are emboldened by our mission of increasingenergy access. By leveraging their expertise, alongside our connected portfolio and resilient financial foundation, we will deliver sus-tained value to our fellow shareholders.50300 Our mission is big, our team is motivated and our portfolio isprimed to seize opportunity. We invite your partnership as wegrow upon the success of our first year.200250 Domenic J. “Nick” Dell’Osso, Jr.President, Chief Executive Officerand Director Michael A. WichterichChairman of the Board UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549FORM 10-K ☒ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2024☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromto Commission File No. 001-13726 EXPAND ENERGY CORPORATION (Exact name of registrant as specified in its charter) Oklahoma (State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Common Stock, $0.01 par value per shareClass A Warrants to purchase Common StockClass B Warrants to purchase Common StockClass C Warrants to purchase Common Stock The Nasdaq Stock Market LLCThe Nasdaq Stock Market LLCThe Nasdaq Stock Market LLCThe Nasdaq Stock Market LLC Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☒No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.Yes☐No☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the