ASCENT RESOURCES, LLC RELEASES 2023 SUSTAINABILITY REPORT

OKLAHOMA CITY, July 1, 2024 /PRNewswire/ -- Ascent Resources, LLC (together with its subsidiaries, "Ascent" or the "Company") announced today that it has published its 2023 Sustainability Report (formerly Environmental, Social and Governance Report) chronicling the Company's environmental, health and safety; social; and governance efforts and accomplishments in 2023.

Jeff Fisher, Ascent's Chairman and Chief Executive Officer, commented "We are pleased to share with our stakeholders our sixth annual sustainability report. As a staunch ally of human progress now in our second decade of existence, we remain committed to responsibly delivering affordable, reliable, cleaner-burning energy while working diligently to maintain our social license to operate. As always, 2023's strong performance is a testament to our team of dedicated employees."

2023 Sustainability Report Highlights

Environmental

• 3^rd consecutive year of low Scope 1 GHG emissions intensity (below 3.00 on mt CO₂e / mboe basis); approximately 20% below our 2020 baseline year
• Ultra-low Scope 1 methane emissions intensity of 0.02%
• 2023 Scope 1 methane intensity (0.02%) represents nearly 50% reduction from 2022 total combined assets (e.g., mid-2022 acquisition)
• Reused 77% of all produced flowback water in our operations
• Achieved Grade A recertification from MiQ on 100% of our gas production
• We expect to finalize our third-consecutive MiQ Grade A recertification on 100% of our 2024-2025 gas production as Grade A in mid-2024

Social

• Directly responsible for greater than $580 million in local economic impact (excludes indirect economic benefit from >$1 billion from capital and other corporate expenditures)
• Paid over $510 million to landowners
• Paid over $60 million in taxes, helping to fund public works in local economies
• Spent ~$10 million to repair, replace and improve nearly 28 miles of Ohio roads
• Greater than $760,000 in philanthropic giving
• Named a Great Place to Work for a 8^th consecutive year in 2023 (extended to a 9^th consecutive year in April 2024)

Governance

• Governed by a 12-member Board which includes two independent directors
• Active Audit, ESR and Compensation Committees ensure full and proper governance of the company
• Sustainability-related performance metrics are included in employee and management compensation

The entire 2023 Sustainability Report can be found at https://www.ascentresources.com/responsibility.

About Ascent Resources:

Ascent is one of the largest private producers of natural gas in the United States and is focused on acquiring, developing, producing, and operating natural gas and oil properties located in the Utica Shale in southern Ohio. With a continued focus on good corporate citizenship, Ascent is committed to delivering low-cost clean-burning energy to our country and the world, while reducing environmental impacts. For more information, visit www.ascentresources.com.

Contact:
Chris Benton
Vice President – Finance and Investor Relations
405-252-7850
[email protected]

Steven Feisal
Director – Sustainability & Federal Regulatory
405-252-7780
[email protected]

SOURCE ASCENT RESOURCES, LLC