Exhibit 99.1
CNX Resources Corporation Announces Final Results and Expiration of Tender Offer for its 7.250% Senior
Notes due 2027
PITTSBURGH, February 19, 2024 CNX Resources Corporation (NYSE: CNX) (CNX) today announced the final results and
expiration of its previously announced cash tender offer (the Tender Offer) to purchase any and all of the $350 million aggregate principal amount outstanding of its 7.250% Senior Notes due 2027 (the 2027 Notes). As of
5:00 p.m., New York City time, on February 16, 2024, the expiration time for the Tender Offer (the Expiration Time), CNX had received tenders for an aggregate principal amount of $312,227,000 of the outstanding 2027 Notes, or 89.21%
of the aggregate principal amount of 2027 Notes outstanding. These amounts exclude any 2027 Notes that may be tendered pursuant to the guaranteed delivery procedures described in the Offer to Purchase and the Notice of Guaranteed Delivery (each as
defined below).
The Tender Offer was made pursuant to the terms and conditions contained in the Offer to Purchase, dated February 12, 2024 (the
Offer to Purchase), and the related notice of guaranteed delivery for the Tender Offer (the Notice of Guaranteed Delivery).
In
accordance with the terms of the Tender Offer, CNX will pay the purchase price (the Purchase Price) for the 2027 Notes validly tendered prior to the Expiration Time or pursuant to the Notice of Guaranteed Delivery on February 23,
2024 (the Settlement Date). The Purchase Price to be paid for the 2027 Notes is $1,018.97 for each $1,000 principal amount of the 2027 Notes validly tendered and accepted for purchase pursuant to the Tender Offer, plus accrued and unpaid
interest on the 2027 Notes validly tendered and accepted for purchase from the last interest payment date up to, but not including, the Settlement Date. For avoidance of doubt, interest on the 2027 Notes will cease to accrue on the Settlement Date
for all 2027 Notes accepted in the Tender Offer. All 2027 Notes purchased on the Settlement Date will subsequently be retired.
Concurrently with the
commencement of the Tender Offer, CNX issued a conditional notice, pursuant to the indenture governing the 2027 Notes, to redeem (the Redemption) all 2027 Notes not purchased in the Tender Offer, at a redemption price of 101.813% of the
principal amount thereof, plus accrued and unpaid interest, if any, to the redemption date of March 14, 2024 (the redemption date). The Redemption is conditioned on the closing of CNXs contemporaneous offering of new senior
notes (the new notes offering) and its receipt of net proceeds from such offering, and there can be no assurance the Redemption will be completed. The Redemption may be terminated and the redemption notice may be rescinded in the event
such conditions shall not have been satisfied by the redemption date.
CNX retained J.P. Morgan Securities LLC to serve as the Lead Dealer Manager and TD
Securities (USA) LLC to serve as the Dealer Manager for the Tender Offer. Global Bondholder Services Corporation served as the tender agent and information agent for the Tender Offer.
CNX Resources Corporation (NYSE: CNX) is a premier, ultra-low carbon intensive natural gas development, production,
midstream, and technology company centered in Appalachia, one of the most energy abundant regions in the world. With the benefit of a 160-year regional legacy, substantial asset base, leading core operational
competencies, technology development and innovation, and astute capital allocation methodologies, we responsibly develop our resources and deploy free cash flow to create long-term per share value for our shareholders, employees, and the communities
where we operate. As of December 31, 2023, CNX had 8.74 trillion cubic feet equivalent of proved natural gas reserves.