EQT Corporation Investor Presentation — July 2017

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July 27, 2017Analyst PresentationCautionary Statement Regarding Forward -Looking Information

This communication may contain certain forward -looking statements, including certain plans, expectations, goals, projections, an d statements about the benefits of the proposed acquisition of Rice Energy

Inc. (Rice), the merger parties’ plans, objectives, expectations and intentions, the expected timing of completion of the tra nsaction, and other statements that are not historical facts. Such statements are

subject to numerous assumptions, risks, and uncertainties. Statements that do not describe historical or current facts, inclu ding statements about beliefs and expectations, are forward -looking statements.

Forward -looking statements may be identified by words such as expect, anticipate, believe, intend, estimate, plan, target, goal, or similar expressions, or future or conditional verbs such as will, may, might,

should, would, could, or similar variations. The forward -looking statements are intended to be subject to the safe harbor provid ed by Section 27A of the Securities Act of 1933, Section 21E of the Securities

Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995.

While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors w hich could cause actual results to differ materially from those contained or implied in

the forward -looking statements including: risks related to EQT’s strategy to develop its Marcellus, Utica, Upper Devonian and ot her reserves; changes in EQT’s drilling plans and programs and the availability

of capital to complete these plans and programs (including the number, type, average length -of-pay and locations of wells to be drilled and number of rigs); changes in production sales volumes and growth