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Rice Energy | June 2015 Investor Presentation | Daniel Rice | Page 15 of 11 | November 23, 2024

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15 www.riceenergy.com Wells Turned Avg. Lateral Flow Rates (MMcf/d) D&C Period To Sales Length (Ft) 0-90 91-180 181-360 ($/Ft) 2Q 2014 1 6,957 14.0 14.2 NA 3,316 $ 3Q 2014 2 9,000 14.5 15.9 NA 2,000 $ 4Q 2014 - NA NA NA NA NA 1Q 2015 2 8,879 NA NA NA 1,837 $ Total 5 8,543 14.3 15.3 NA 2,198 $ * Flow Rates based on wells with av ailable history Utica Well Results To Date Utica: Dry-Gas Core Established, Significant Growth Ahead Utica Development Map Operational Highlights Belmont Monroe Noble Guernsey Harrison Marshall Wetze l In Progress RICE PA Utica Test (Drilling) In Sales RICE Acreage __________________________ 1. Assumes RICE + GPOR collectively have a 90% working interest in a given unit. 2. Net locations as of 12/31/14. 3. As of May 1, 2015. 4. Based on production data as of May 1, 2015. ? Concentrated core Utica assets in southeastern OH ? 57,000 net acres, 98% in Belmont County (~75% dry gas) ? RICE 62% operated and 43% non-operated avg. WI in strategic JV with GPOR (1) ? 5 operated wells (3 net) and 20 non-operated (5 net) producing into sales through 1Q15 ? 356 net undeveloped Utica locations in Belmont County (2) ? In April, turned 3 gross (1 net) wells to sales ? Rice’s peer-leading results underscore shale quality, our technical competency and low-breakeven potential ? 1 st 5 operated wells producing ~85 MMcf/d gross; expect each to produce 5-8 Bcf/well in first year (3) ? 10% IRR at $1.79 realized price ($2.35 NYMEX) Early, but Consistent and Prolific Development Leads to Predictable Results OH PA WV 20+ MMcf/d IP (4)