Governance

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Public Policy and Perception

We recognize the larger impact on communities, operators, the environment, and the economy when we consider and engage with policy issues in our industry. We collaborate with government agencies such as the National Safety Council and the Occupational Safety and Health Administration to improve safety regulations related to the industry. We also work to support federal, state, and local policies that promote stable investment climates for natural gas exploration, production, storage, and transportation. These may include policies governing environmental protection, taxes, permitting reform, natural gas production, transportation, and expanding the use of natural gas in sectors such as transportation, manufacturing, and electricity generation. The impact of our operations and use of natural gas on our stakeholders remains a key driver for our influence and engagement. We advocated in support of and were pleased to see the bipartisan passage of the Fiscal Responsibility Act, which included the necessary approvals to allow the Mountain Valley Pipeline (MVP) to come online — thanks to the leadership of Senator Shelley Moore Capito (R-WV), Senator Joe Manchin (I-WV), and Representative Carol Miller (R-WV).

We shape policies that affect our company and our industry at the local, state, and federal levels directly, in addition to engaging in federal policies through our membership in trade associations. In 2024, we participated in CERAWeek and in Climate Week in New York. We also continued our leadership role in the Partnership to Address Global Emissions (PAGE). PAGE promotes policies to replace coal consumption and strives to solve complex global energy and climate problems. Within PAGE, we push for the enactment of policies that will help create the infrastructure needed to increase the production and export of U.S. LNG.

We comply with applicable local, county, state, and federal laws when we conduct public policy activities. Our Public Relations and Government Affairs teams, collectively referred to as “Stakeholder Affairs,” guide and oversee our public policy activities. Additionally, the Public Policy and Corporate Responsiblility (PPCR) Committee of our Board receives regular reports about these activities at each regular PPCR Committee meeting. The PPCR Committee reviews and receives reports on the company’s approach, programs, policies, and practices relating to matters of public policy, corporate responsibility, and sustainability.

Our Political Contributions and Political Activity Policy and Lobbying Disclosure and Compliance Policy help manage our interactions with regulatory agencies and elected officials. We require, among other things, that employees not engage in lobbying activities on our behalf and that corporate treasury dollars not be used for political purposes without prior approval from our Chief Legal and Policy Officer. The PPCR Committee annually reviews our contributions made to political candidates and discusses public policy issues that affect us to help ensure compliance with our policies and applicable law.

Our political spending is limited to the United States, and we comply with the laws and regulations in each jurisdiction where we are politically active. We also adhere to federal and state campaign finance laws on political spending in support of political parties, politicians, and related institutions. We fund our political spending through three sources:

• The non-partisan EQT Corporation Federal Political Action Committee (PAC), sourced solely from voluntary employee contributions;
• The non-partisan EQT Corporation State PAC, sourced from voluntary employee contributions and transfers from the EQT Federal PAC; and
• EQT corporate treasury dollars.

Members from our senior management comprise the Board of our PACs and our Chief Legal and Policy Officer serves as Chair of both PAC Boards. Our PAC Boards meet as necessary to approve political contributions and to take other actions.

We actively participate in member and trade organizations to improve our industry and that align with our corporate mission. In 2024, we continued our founding-member-level engagement in three key organizations — the PAGE Coalition, the Appalachian Methane Initiative, and the Appalachian Regional Clean Hydrogen Hub (ARCH2). For more information on our activities in these organizations, see Climate Change Strategy and Operational GHG Emissions.

In 2024, we continued our participation in industry associations — such as the Marcellus Shale Coalition, the Gas & Oil Association of West Virginia, the National Association of Manufacturers, and the American Exploration and Production Council — to discuss local, state, and federal issues pertinent to natural gas, and the ISNetworld^® Appalachian Working Group to share safety-related best practices. We continued to participate in Our Nation's Energy Future Coalition and The Environmental Partnership, where we work with like-minded companies to improve environmental performance and to lower emissions. Our membership with Natural Allies for a Clean Energy Future is focused on building a better understanding of how natural gas can play a vital role in the lower-carbon economy.

We assign one employee as the relationship manager for each of our membership organizations. Many of our employees also sit on the boards of local chambers of commerce and industry associations of which we are members. We provide a list of our corporate memberships, disclosing 2024 dues paid and the portion allocated to lobbying, under How We Are Doing.

In 2024, we continued to use our associations dashboard in our digital work environment to track our corporate memberships. The dashboard tracks our membership status, renewal date, membership dues, the organization type, and the geographic focus of each organization in which we are a member or have considered joining. All our employees can access this data to help ensure both accuracy and full transparency of our membership data. Additionally, in 2024, our Environmental, Social, and Governance (ESG) Committee reviewed and either approved or declined every proposed corporate membership based on the organization’s influence, historical success in achieving its stated goals, and whether the organization’s mission is aligned with our corporate mission and strategy.

Thought leadership is a critical component to achieving our mission. We believe that natural gas is an essential energy form in the United States with strong potential to satisfy the growing energy demand globally. We also recognize the importance of GHG emission reductions from our operations. That is why we have eliminated substantially all the natural gas-powered pneumatic devices used in our production operations. Natural gas pneumatic devices have historically been a significant source of methane and GHG emissions within the oil and natural gas production industry and, therefore, the replacement of these pieces of equipment provides the industry with significant opportunities to reduce emissions with limited capital outlay. Our pneumatic device replacement initiative has been impactful and has led to a significant decrease in methane emissions from our production operations. We share information on the technology, implementation process, and results of this effort in our EQT Pneumatic Replacement video so that other operators can leverage our experience and implement this process in their own operations. Read more about how we reduce our GHG emissions in Operational GHG Emissions.

Additionally, our Chief Executive Officer, Toby Rice, is a member of an LNG Task Force in Pennsylvania to further explore opportunities to export U.S. LNG, and EQT is also engaged on this topic at a national level through its membership in the U.S. LNG Association. We believe natural gas is critical to accelerate a sustainable pathway to a lower-carbon future and achieve global climate goals. We believe the United States is well positioned to lead this transition with plentiful access to natural gas resources, and we remain committed to using our voice to educate policymakers about the environmental, social, and economic benefits of natural gas production and consumption. For more information, please see Climate Change Strategy and Unleashing U.S. LNG.