As previously disclosed in April 2018, Range Resources Corporation (the “Company”), the borrower, entered into an amended and restated revolving credit agreement (as amended through October 18, 2019), with JPMorgan Chase Bank, N.A., as administrative agent and other lenders and agents party thereto (the “Credit Agreement”).

On March 27, 2020, the Company entered into a second amendment to the Credit Agreement (the “Second Amendment”) with JPMorgan Chase Bank, N.A. as administrative agent and other lenders and agents party thereto.  Pursuant to the Second Amendment and the annual borrowing base determination, which is effective as of March 27, 2020, the Borrowing Base (as defined in the Credit Agreement) was reaffirmed at $3.0 billion and total lender commitments was reaffirmed at $2.4 billion.

The Second Amendment also provides for (i) the establishment of a semi-annual borrowing base redetermination with the next scheduled redetermination to occur by November 2020; (ii) an increase in applicable margin of 50 basis points on drawn facility balances; and (iii) a permitted increase to the letter of credit sublimit.