The following table sets forth information with respect to the
beneficial ownership of the Corporation’s common stock by:
Unless otherwise indicated, the named person has the sole voting
and dispositive powers with respect to the shares of CNX common stock set forth opposite such person’s name.
| (2) |
Based on a Schedule 13G/A filed by BlackRock, Inc. on January 23, 2024. BlackRock,
Inc., as a parent holding company for a number of investment management subsidiaries, is deemed to be the beneficial owner
of 19,717,169 shares and has sole voting power with respect to 19,366,846 shares, shared voting power with respect to zero
shares, sole dispositive power with respect to 19,717,169 shares and shared dispositive power with respect to zero shares.
The following subsidiaries of BlackRock, Inc. are investment advisors which hold shares of our common stock: BlackRock Life
Limited; BlackRock Advisors, LLC; Aperio Group, LLC; BlackRock (Netherlands) B.V.; BlackRock Fund Advisors; BlackRock Institutional
Trust Company, National Association; BlackRock Asset Management Ireland Limited; BlackRock Financial Management, Inc.; BlackRock
Investment Management, LLC; BlackRock Investment Management (UK) Limited; BlackRock Asset Management Canada Limited; and BlackRock
Investment Management (Australia) Limited. BlackRock Fund Advisors beneficially owns 5% or greater of the outstanding shares
of CNX common stock. |
| (3) |
Based on a Schedule 13G/A filed by The Vanguard Group (“Vanguard”) on March
11, 2024, Vanguard is deemed to be the beneficial owner of 15,927,013 shares and has sole voting power with respect to zero
shares, shared voting power with respect to 104,781 shares, sole dispositive power with respect to 15,673,803 shares and shared
dispositive power with respect to 253,210 shares. |
| (4) |
Based on a Schedule 13G/A filed by Dimensional Fund Advisors LP (“Dimensional”)
on February 9, 2024, Dimensional is an investment advisor registered under Section 203 of the Investment Advisors Act of 1940
that furnishes investment advice to four investment companies registered under the Investment Company Act of 1940, and serves
as investment manager or sub-adviser to certain other commingled funds, group trusts and separate accounts (such investment
companies, trusts and accounts, collectively referred to as the “Funds”). In certain cases, subsidiaries of Dimensional
may act as an adviser or sub-adviser to certain Funds. In its role as investment advisor, sub-adviser and/or manager, Dimensional
or its subsidiaries may possess voting and/or investment power over the securities of CNX that are owned by the Funds and
may be deemed to be the beneficial owner of the shares of CNX held by the Funds. The Funds own all of the shares, and Dimensional
disclaims beneficial ownership of such shares. Dimensional is deemed to be the beneficial owner of 13,472,040 shares and has
sole voting power with respect to 13,427,450 shares, shared voting power with respect to zero shares, sole dispositive power
with respect to 13,472,040 shares and shared dispositive power with respect to zero shares. |
| (5) |
Based on a Schedule 13G/A filed by State Street Corporation (“State Street”)
on January 25, 2024, State Street, as a parent holding company for a number of investment management subsidiaries, is deemed
to be the beneficial owner of 9,522,611 shares and has sole voting power with respect to zero shares, shared voting power
with respect to 9,303,909 shares, sole dispositive power with respect to zero shares and shared dispositive power with respect
to 9,522,611 shares. The following subsidiaries of State Street are investment advisors which hold shares of our common stock:
SSGA Funds Management, Inc.; State Street Global Advisors Europe Limited; State Street Global Advisors Limited; State Street
Global Advisors Trust Company; and State Street Global Advisors Asia Limited. |
| (6) |
Based on a Schedule 13G/A filed by Southeastern Asset Management, Inc. (“Southeastern”),
an investment adviser registered under Section 203 of the Investment Advisers Act of 1940, and O. Mason Hawkins, Chairman
of the Board of Southeastern, on February 14, 2024. Southeastern is deemed to be the beneficial owner of 8,338,233 shares
and has sole voting power with respect to 2,246,238 shares, shared voting power with respect to 6,091,995 shares, sole dispositive
power with respect to 2,246,238 shares, and shared dispositive power with respect to 6,091,995 shares. O. Mason Hawkins is
deemed to be the beneficial owner of zero shares. |
| (7) |
Amounts include options that are currently exercisable or that may become exercisable within
60 days of March 5, 2024 (i.e., May 4, 2024) and shares underlying DSUs, RSUs (including in the case of Mr. DeIuliis the 2022
PSUs related to the absolute stock price (“ASP”) metric) and deferred RSUs that will or may be settled on or before
May 6, 2024 as set forth below: |
| (8) |
Information for Mr. Akinkugbe is as of June 30, 2023, the date of his departure
from CNX. For more information about the treatment of Mr. Akinkugbe’s awards upon his departure, see “Agreements
with Former Named Executives.” |
| (9) |
Information for Mr. Reyes is as of December 22, 2023, the date of his departure from CNX.
For more information about the treatment of Mr. Reyes’s awards upon his departure, see “Agreements with Former
Named Executives.” |
| (10) |
Includes 58,536 CNX shares held by Mr. Lanigan, 30,600 CNX shares held by Lanigan Family
Holdings, LLC (formerly Lanigan Family Limited Partnership), of which Mr. Lanigan is one of the members, and 1,063,071 CNX
shares held by other limited liability companies, of which Mr. Lanigan is part owner of the managing member. These shares
are currently held in a marginable account but are on non-margin status. Also includes 1,231,617 shares of CNX common stock
held in investment advisory accounts of clients of Southeast Asset Advisors, Inc., an investment advisor of which Mr. Lanigan
serves as Chairman and Chief Executive Officer and disclaims beneficial ownership of such shares. |
| (11) |
Includes CNX shares held in a trust for his children. In addition, as a result of Mr. Thorndike’s
contractual arrangement with a third party, Mr. Thorndike may be deemed to have a beneficial interest with respect to 50,000
shares of CNX stock. |
| (12) |
Of the 7,120,653 CNX shares held by the directors and executive officers as a group, 1,208,834
represent options that are currently exercisable or that may become exercisable within 60 days of March 5, 2024 (i.e., May
4, 2024), excluding those of Messrs. Akinkugbe and Reyes, who are former named executives of CNX; 253,730 represent RSUs that
may or will be settled on or before May 4, 2024; 514,014 represent deferred RSUs that may be settled on or before May 4, 2024;
and 112,412 represent DSUs that may be settled on or before May 4, 2024. |
Brokerage account agreements may grant security
interests in securities held at the broker to secure payment and performance obligations of the brokerage account holder in the
ordinary course. Shares shown in the table for the directors and executive officers may be subject to this type of security interest.
Section 16(a) of the Exchange Act requires
that certain of our officers, our directors and persons who beneficially own more than 10% of a registered class of our equity
securities file reports of initial ownership and changes in ownership with the SEC. The SEC has established specific due dates
for these reports, and we are required to disclose in this Proxy Statement any known late filings or failures to file. Based solely
on our review of Section 16 reports filed electronically with the SEC and written representations from certain reporting persons,
we believe that during 2023, all Section 16(a) filing requirements applicable to those officers, directors and 10% shareholders
were satisfied, except that one Form 4 filing for Mr. Lanigan reporting one transaction on June 30, 2023, in which an unaffiliated
third party contributed shares of CNX common stock to Teton Pines Capital, LLC, the managing member of which Mr. Lanigan controls,
was filed late on September 19, 2023 due to an administrative error.
