Southwestern Energy Announces Extension of Cash Tender Offers and Consent Solicitations for Senior Notes

Southwestern Energy Company (NYSE: SWN) (the “Company”) today announced that it has extended the Previous Expiration Date (as defined below) for its previously announced offers to purchase for cash (collectively, the “Tender Offers” and each a “Tender Offer”) up to a maximum aggregate purchase price (subject to the respective sub-caps and Acceptance Priority Levels as set forth in the table below), excluding accrued interest, equal to $901,728,320 of the Company’s 4.10% senior notes due 2022 (the “2022 Notes”), 4.05% senior notes due 2020 (the “2020 Notes”), 4.95% senior notes due 2025 (the “2025 Notes”), 7.50% senior notes due 2026 (the “2026 Notes”) and 7.75% senior notes due 2027 (the “2027 Notes” and, together with the 2022 Notes, the 2020 Notes, the 2025 Notes and the 2026 Notes, the “Notes”) and related Consent Solicitations (as defined below), upon the terms and conditions described in the Company’s Offer to Purchase and Consent Solicitation Statement dated September 4, 2018 (the “Offer to Purchase”). The expiration date applicable to the Tender Offers and the related Consent Solicitations, previously scheduled for 11:59 p.m., New York City time, on November 1, 2018 (the “Previous Expiration Date”), has been extended to 11:59 p.m., New York City time, on December 3, 2018 (such date and time, as extended, the “New Expiration Date”), unless further extended or earlier terminated.

The Tender Offers are not conditioned upon the tender of any minimum principal amount of Notes of any series nor on the delivery of a number of consents required to amend the indenture with respect to each series of Notes. However, the Tender Offers and Consent Solicitations are subject to, and conditioned upon, the satisfaction or waiver of certain conditions described in the Offer to Purchase, including the Company’s consummation of the sale under the Membership Interest Purchase Agreement dated as of August 30, 2018, by and between the Company and Flywheel Energy Operating, LLC, the Company’s subsidiary that owns and operates its Fayetteville Shale exploration and production and related midstream gathering assets (the “Fayetteville Sale”).

The Company intends to fund the Tender Offers, including accrued and unpaid interest and fees and expenses payable in connection with the Tender Offers, with proceeds from the Fayetteville Sale.

According to information received from Global Bondholder Services Corporation (“GBSC”), the Tender Agent and Information Agent for the Tender Offers and Consent Solicitations, as of 5:00 p.m., New York City time, on September 17, 2018 (that date and time, the “Early Tender Time”) and as of the Previous Expiration Date, the Company had received valid tenders from holders of the Notes as outlined in the table below.