<SEC-DOCUMENT>0001104659-21-062515.txt : 20210506
<SEC-HEADER>0001104659-21-062515.hdr.sgml : 20210506
<ACCEPTANCE-DATETIME>20210506172413
ACCESSION NUMBER:		0001104659-21-062515
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210506
DATE AS OF CHANGE:		20210506

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			EQT Corp
		CENTRAL INDEX KEY:			0000033213
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				250464690
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03551
		FILM NUMBER:		21899053

	BUSINESS ADDRESS:	
		STREET 1:		625 LIBERTY AVENUE
		STREET 2:		SUITE 1700
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222
		BUSINESS PHONE:		4125535700

	MAIL ADDRESS:	
		STREET 1:		625 LIBERTY AVENUE
		STREET 2:		SUITE 1700
		CITY:			PITTSBURGH
		STATE:			PA
		ZIP:			15222

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQT Corp /PA/
		DATE OF NAME CHANGE:	20090206

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITABLE RESOURCES INC /PA/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EQUITABLE GAS CO
		DATE OF NAME CHANGE:	19841120
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm2113945-4_defa14a.htm
<DESCRIPTION>DEFA14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 2in"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 13.5pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a) of<BR>
the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B></B></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 2in"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Filed by the Registrant&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Filed by a Party other than the Registrant&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Check the appropriate box:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 14pt"><B>EQT CORPORATION</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt; text-align: center"><FONT STYLE="font-size: 10pt">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="3" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Payment of Filing Fee (Check the appropriate box):</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">x</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">No fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="width: 0.5in; padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Title of each class of securities to which transaction applies:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Aggregate number of securities to which transaction applies:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Proposed maximum aggregate value of transaction:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(5)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Total fee paid:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(1)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Amount Previously Paid:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(2)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Form, Schedule or Registration Statement No.:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(3)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Filing Party:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">(4)</FONT></TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt"><FONT STYLE="font-size: 10pt">Date Filed:</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 0.7pt; padding-left: 0.7pt">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>The following is an article which was published by the Pittsburgh
Business Times on May 6, 2021 which contains quotes from Toby Z. Rice, President and Chief Executive Officer of EQT Corporation regarding
EQT Corporation&rsquo;s proposed transaction with Alta Resources, LLC.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Rice: EQT's latest acquisition about fit, not scale &mdash; and
about getting better</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #707070">May 6, 2021, 4:42pm EDT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #707070"><FONT STYLE="text-transform: uppercase">CONTRIBUTED</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #707070">Toby Rice, CEO of EQT Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #707070">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">EQT Corp.&rsquo;s $2.9 billion acquisition
of Alta Resources Development LLC</FONT>&nbsp;will make EQT responsible for about 17% of all the natural gas in the Appalachian basin
and about 7% of all natural gas produced in the United States. But CEO&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">Toby Z. Rice</FONT>&nbsp;said
the Alta deal is so much more than just adding to the driller&rsquo;s already large scale.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;EQT is going to be a more profitable organization that&rsquo;s
got lower leverage and (is) more profitable, more bulletproof, a stronger company that&rsquo;s going to allow us to continue to produce
great results for all stakeholders,&rdquo; Rice told the Business Times in an interview Thursday afternoon. EQT announced the pending
acquisition of the privately held Houston-based Alta earlier in the day, the same day EQT announced first-quarter earnings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">It&rsquo;s also coming on the heels of two other deals EQT (NYSE: EQT)
has done in recent months, including the $735 million purchase of Chevron Corp.&rsquo;s Appalachian assets in late 2020 and a&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">much
smaller $69 million buy of some Reliance Marcellus assets in southwestern Pennsylvania</FONT>. Alta, one of the 10 largest drillers in
Pennsylvania, has about 499 wells clustered in the dry-gas rich core of the Marcellus in the northeastern part of the state.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;It&rsquo;s a natural step forward for us,&rdquo; Rice said.
 &ldquo;The transaction is something&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">that allows us to do a lot of the things that we&rsquo;ve been talking
about</FONT>: that&rsquo;s grow free cash flow per share, deleverage the business, and give us more exposure to what we think is a high
quality, low-risk asset base.&rdquo; EQT will have a higher free cash flow with Alta than it projected before the acquisition, and it&rsquo;ll
take another step toward getting the investment grade rating that Rice and the executive team has been focused on. (Moody&rsquo;s Investor
Service said it had put EQT up for review for an upgrade due to the Alta deal.)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">But, Rice said, scale and getting larger isn&rsquo;t what drives the
EQT management team. Instead, the driving force beyond the financials are how EQT can improve on its highly efficient operating model
that has turned the company around since the Rice executive team arrived in 2019. That&rsquo;s its operating model, highly efficient development
model, the strength of its team and culture, and what value the company can create by an acquisition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;We&rsquo;re never going to do anything just because it makes
us bigger. We&rsquo;re going to be doing things because it makes us better,&rdquo; Rice said. &ldquo;That&rsquo;s a big part of the mentality
here at EQT.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EQT has already shaved $75 million off its capital expenditures for
2021 and the Alta acquisition is expected to add at least 15% to free cash flow annually, all helping to deliver the business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;It&rsquo;s always been about the right fit, the price, and checking
the right boxes,&rdquo; Rice said. &ldquo;We&rsquo;ve gravitated toward looking for the highest-quality, high margin, low risk assets.
The Alta Resources package really checked all of those boxes.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Initial market reaction&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">sent EQT
shares down 8.8% to $18.41 a share in trading Thursday</FONT>. Rice said he wasn&rsquo;t concerned by that and said that it would take
time for such a big deal to digest. He said the deal grew free cash flow per share, which is good for shareholders; it reduces leverage
meaningfully, which is good for bondholders; it lowers break-even costs; and being in basin allows it to leverage existing service providers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;It just makes a whole lot of industrial sense across all aspects
of the deal,&rdquo; Rice said.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Many of the details surrounding the deal to acquire Alta haven&rsquo;t
yet been disclosed. Alta is a privately owned company, the eighth largest natural gas producer in Pennsylvania, with operations in the
core northeastern part of Pennsylvania. The wells and acreage EQT is buying has a pedigree: it was first developed by international oil/gas
producer Anadarko Petroleum Corp. and sold to Alta in 2016 for $1.24 billion. Alta grew further in December 2017 with a $115 million deal
to buy the nonoperated assets of Ultra Petroleum Corp., which like Alta is based in Houston.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EQT CFO&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">David Khani</FONT>&nbsp;said
that Alta&rsquo;s assets had been marketed for sale and that it was a six-month process. EQT was the winning bidder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;One thing that&rsquo;s important about the Alta team, these
are smart oil and gas guys that understand that management teams matter. These guys created a lot of value in Appalachia, they understand
what it takes,&rdquo; Rice said. &ldquo;For them to say &lsquo;we want to ride with EQT,&rsquo; we take that seriously and we think our
track record is one of the leading reasons for that that positions us to be successful.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Important Additional Information will be Filed with the SEC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This communication is being made in respect of the proposed transaction
involving EQT Corporation (&ldquo;EQT&rdquo;) and Alta Resources, LLC (&ldquo;Alta&rdquo;), and/or one or more of their respective subsidiaries.
The issuance of the stock consideration for the proposed transaction will be submitted to the shareholders of EQT for their consideration.
In connection with the proposed transaction, EQT will file with the U.S. Securities and Exchange Commission (the &ldquo;SEC&rdquo;) a
proxy statement (the &ldquo;proxy statement&rdquo;). INVESTORS AND SHAREHOLDERS OF EQT ARE URGED TO CAREFULLY READ THE PROXY STATEMENT,
AND OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC BY EQT, IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT EQT, ALTA, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and shareholders will be able to obtain a free copy
of the proxy statement and other documents filed with the SEC by EQT through the website maintained by the SEC at www.sec.gov or through
EQT&rsquo;s website at www.eqt.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Participants in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">EQT and its directors and executive officers may be deemed to be participants
in the solicitation of proxies from EQT&rsquo;s shareholders in respect of the proposed transaction contemplated by the proxy statement.
Information regarding the persons who are, under the rules of the SEC, participants in the solicitation of the shareholders of EQT in
connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise,
will be set forth in the proxy statement when it is filed with the SEC. Information regarding EQT&rsquo;s directors and executive officers
is contained in its Annual Report on Form 10-K for the year ended December 31, 2020 and its Proxy Statement on Schedule 14A, dated April
20, 2021, which are filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
