Expand Energy Closes $500 Million 5.650% Senior Notes Offering Due 2031

Executive Summary

On September 17, 2026, Expand Energy Corporation (NASDAQ: EXE) filed a Form 8-K under Items 1.01, 2.03, 8.01, and 9.01 reporting the closing of its underwritten public offering of $500,000,000 aggregate principal amount of 5.650% Senior Notes due 2031.

Key Terms of the Notes Offering

• Issuer: Expand Energy Corporation
• Trustee: Regions Bank
• Principal Amount: $500,000,000
• Coupon / Maturity: 5.650% maturing in 2031
• Governing Indenture: Base Indenture dated December 2, 2024, supplemented by the Second Supplemental Indenture dated September 17, 2026
• Ranking: Senior unsecured obligations; rank equally in right of payment with all existing and future unsecured senior debt (including revolving credit facility borrowings and existing senior notes), senior to any future subordinated indebtedness, and structurally subordinated to liabilities of subsidiaries
• Optional Redemption: Callable prior to August 15, 2031 (the Par Call Date) at a make-whole redemption price; callable on or after August 15, 2031 at 100% of principal plus accrued and unpaid interest
• Covenants: Customary limitations on liens securing funded debt and restrictions on mergers, consolidations, or sales of substantially all assets

Capital Structure and Financial Impact

This debt issuance strengthens the company's liquidity position and locks in fixed-rate, five-year funding at a 5.650% coupon. Because the notes are unsecured and not guaranteed by subsidiaries, they maintain the standard debt hierarchy while expanding financial flexibility.