EXHIBIT 2 EXHIBIT 3-2. UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF WEST VIRGINIA If You Were a Royalty Owner and Received a Payment from EQT Beginning December 8, 2008 for a West Virginia Natural Gas Well, You Could Get Benefits from a Class Action Settlement A Federal Court authorized this notice. This is not a solicitation from a lawyer. Please read this Notice carefully as it impacts your rights and provides you with information regarding a class action lawsuit against EQT Corporation; EQT Production Company; EQT Energy; EQT Gathering, EQT Investment Holdings, and EQT Midstream Partners, LP (together called the Defendants?) over royalty payments on gas leases in West Virginia. Your legal rights are affected whether or not you take action. A $53.5 million Settlement has been reached with the EQT Defendants (?the Settlement?). The Settlement includes natural gas or mineral lessors who have leasehold interest within the state of West Virginia and who had leases (except as excluded below) owned by the EQT Defendants during the period from December 8, 2009 through December 31, 2017 Lease?). The lawsuit claims that the EQT Defendants failed to make proper royalty payments under their leases. The Settlement will pay money to those who submit valid claims, as well as fees and expenses for the lawyers approved by the Court, plus certain costs of the Settlement Administration. YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT DO NOTHING Get a Claim Form automatically after the Court approves the Settlement which is scheduled for hearing on July 11, 2019, if you received this notice in the mail. All Class Members must ?le a claim form to get paid. Give up your rights to sue the EQT Defendants about the same legal claims in this case. FILE A CLAIM Complete the Claim Form you receive in the mail and get a payment. Give up your rights to sue the EQT Defendants about the same legal claims in this case. EXCLU DE YOURSELF If you ask to be excluded from the Settlement, you won?t be eligible to receive a payment. However, you would keep any rights to sue the EQT Defendants on your own about the same legal claims in this case. Any Class Member who does not ask to be excluded will be deemed to be a Class Participant. OBJECTICOMMENT Write to the Court about why you object and request the Court not to approve the Settlement. Go To THE HEARING Ask to speak in Court about the fairness of the Settlement. Your rights and options - and the deadlines to exercise them - are explained in more detail in this Notice. The Court in charge of this case still has to decide whether to approve the Settlement. If it does, and after any appeals are resolved, Settlement Payments will be distributed to those who qualify. Please be patient. If more than 17% of Class Participants (measured by volumes of gas produced and sold) opt out of this Settlement, then EQT may cancel the agreement. CALL 1 600-564-601 9 OR VISIT WHAT THIS NOTICE CONTAINS BASIC INFORMATION . PAGE 3 1. Why was this Notice issued? 2. What is the lawsuit about? 3. Why is this a class action? 4. Why is there a Settlement? 5 Is there a related lawsuit? INCLUDED IN THE PAGE 4 6 Who is part of the Class? 7 What Flat Rate Leases and Wells are included in the Class? 8 What are Percentage Leases and Wells? 9. What if my well was a Percentage Well and a Flat Rate Well at different times? 10. Are storage wells included? 11 Does the settlement include claims for liquids? 12 Are there exceptions to being included? 13 I?m still not sure if I?m included in the Settlement. THE SETTLEMENT BENEFITS WHAT You GET IF You QUALIFY PAGE 6 A. FOR ALL CLASS MEMBERS 14. What does the Settlement provide? 15. What can I get from the Settlement? 16. Is there a minimum payment? 17. How will payments be distributed? B. FOR CLASS MEMBERS WHO OWNED AN INTEREST IN A WELL 0R LEASE DURING THE CLASS PERIOD AND WHOSE WELLS 0R LEASES WERE NOT DIVESTED BY EQT BEFORE THE DATE OF THE SETTLEMENT 18. What else does the Settlement provide going forward? 19. What is the Royalty Method? 20. What are the Tawney Compliant deductions? 21. What is the Index Price and where can I ?nd it? 22. What Is the Limited Optional Pooling Modi?cation? THE CLAIMS PROCESS FOR ALL CLASS MONETARY BENEFIT PAGE payment? 24. When would I get a payment? 25. What if I disagree with the amount Of my Settlement payment? REMAINING IN THE SETTLEMENT . PAGE 11 26. What happens if I do nothing? 27. What am I giving up as part of the Settlement? EXCLUDING YOURSELF FROM THE SETTLEMENT PAGE 11 28. What if I don?t want to be part of the Class? 29. If I don?t exclude myself, can I sue later? OBJECTING TO OR COMMENTING ON THE SETTLEMENT . . PAGE 12 30. How do I tell the Court that I do not like the Settlement? 31. What is the difference between objecting and asking to be excluded? THE LAWYERS REPRESENTING You PAGE 1 3 32. Do I have a lawyer in this Settlement? 33. How will the lawyers be paid? THE FAIRNESS HEARING .. PAGE 13 34. When and where will the Court decide whether to approve the Settlement? 35. DO I have to come to the hearing? 36. May I speak at the hearing? GETTING MORE INFORMATION . . PAGE 14 37. How do I get more information about the Settlement? CALL 1-800-564-6019 OR VISIT 2 BASIC INFORMATION I 1. Why was this Notice issued? A Court authorized this Notice because you have a right to know about the proposed Settlement and about all of your options before the Court decides whether to give ??nal approval? to the Settlement. If the Settlement is approved, Settlement Payments will be given to everyone who submitted a valid Claim Form. This Notice explains the lawsuit, the Settlement, your legal rights, what bene?ts are available, who is eligible for those bene?ts, and how to get them. The Honorable John Preston Bailey of the United States District Court for the Northern District of West Virginia, at Wheeling is overseeing this case. The case is known as The Kay Company, LLC v. EQT Production, Co., No. 13-CV-151. The company and people who sued are called Plaintiffs, and the companies being sued are called Defendants. The Plaintiffs in this case are The Kay Company, William Cather, Trustee of Diana Goff Cather Trusts; and James E. Hamric, The Defendants are EQT Corporation; EQT Production Company; EQT Energy; EQT Gathering, EQT Investment Holdings, EQT Midstream Partners (together called the Defendants?). I 2. What is the lawsuit about? I The lawsuit claims that the EQT Defendants made improper deductions in calculating royalties under the leases and did not pay plaintiffs the royalties they were entitled to under their lease(s). It also claims that they improperly deducted post-production expenses from royalty payments. Post-production expenses may include, but are not necessarily limited to, one or more of the following expenses: gathering, compression, capacity and transportation charges, selling, general and administrative costs, and other related expenses. The EQT Defendants argue that they have complied with the terms of the leases in calculating royalty payments and deductions and that all royalties have been properly paid. Why is this a class action? I In a class action, one or more individuals called ?Class Representatives? (in this case, The Kay Company, William Cather, Trustee of Diana Goff Cather Trusts; and James E. Hamric, sue on behalf of those who have similar claims. All of these individuals are a ?Class? or ?Class Members.? One court resolves the issues for all class members, except for those who properly exclude themselves from the Class (see Question 28). Why is there a Settlement? I The Court did not decide in favor of the Plaintiffs or the EQT Defendants. Instead, both sides agreed to settle this case to avoid the cost and risk of trial. The Settlement does not mean that any law was broken or that the EQT Defendants did anything wrong. The EQT Defendants deny all legal claims in this case. The Class Representatives and their lawyers think the Settlement is best for all Class Members. As with many lawsuits, there may be various methods to calculate and distribute settlement proceeds (some of which may result in different settlement amounts to individual Class Members). I 5. Is there a related lawsuit? There was a previous class action that preceded this lawsuit, which was resolved by a class action settlement, effective on December 8, 2008. All participants of the previous settlement entered into CALL 1-800-564-6019 OR VISIT 3 releases, resolving claims which relieved EQT from any ?irther liability prior to December 8, 2008, but retained plaintiffs? claims for any liability and damages from December 8, 2008 to the present. WHo?s INCLUDED IN THE 6. Who i part of the Class? Your EQT Lease is included if: Your lease is on land in West Virginia; You owned a royalty interest for this lease anytime from December 8, 2008 to December 31, 2017; 0 Gas was produced on the land anytime between December 8, 2008 and December 31, 2017; You received or are due royalty payments from this lease; and You received or are due royalty payments from the EQT Defendants. There are three different groups or subclasses included in the Settlement: the Flat Rate Subclass and two Percentage Subclasses (see Questions 7 and 8 below). The full class de?nition is included in the Settlement Agreement available at The leases involved in this action are those in effect anytime from December 8, 2008 to December 31, 2017, except for leases or wells acquired by EQT from Trans Energy, Statoil, Stone Energy or Republic Energy. The leases in the latter acquisitions are not included in the class since they were leases of other parties acquired after this case was ?led. I 7. What Flat Rate Leases and Wells are included in the Class? Flat Rate Leases include leases where EQT pays a ?at rate royalty that is not based on a percentage of the revenue or value from sales of the production from a natural gas well. EQT has converted some ?at rate leases to percentage leases as provided by W. Va. Code 22-6-8. The Flat Rate Subclass only includes gas wells that were drilled under leases that have a ?at-rate royalty provision but were converted to a percentage royalty. I 8. What are Percentage Leases and Wells? Percentage Leases and Wells include all EQT natural gas lessors with percentage leases. Percentage Leases include leases where EQT pays a royalty based on a percentage of the revenue or value from sales of the production ?'om a natural gas well. There are two types of Percentage Leases in this Settlement: 0 Percentage Leases that do not permit the deduction of post-production expenses (?Tawney Non- Compliant?); and 0 Percentage Leases that contain language expressly permitting the deduction of post?production expenses (?Tawney Compliant?). A Tawney Compliant lease must have speci?c language in the lease to allow for a lessee to take deductions from the lease or from a royalty payment. The Court has already ruled which leases or type of leases allow deductions and which ones do not allow deductions. You should review your particular lease to determine if deductions are allowed. The Judge has ruled that only leases that have the following Quesnons? CALL 1-800-564-6019 OR VISIT 4 language permits deductions: The Lessee shall pay to Lessor a royalty of one eighth of the net proceeds realized from the sale of all oil produced and sold from the premises after deducting charges for making it merchantable and transporting the oil to the point of sale, and shall pay to Lessor for all gas produced and sold from the Leased Premises, a royalty equal to one-eighth of the Amount Realized (as de?ned below) by Lessee. The Lessor will be paid a royalty based on the volumes of oil and gas sold by Lessee and shall not be entitled to royalty payments for any volumes not sold, regardless if produced or measured at any point other than the point of sale. The "Amount Realized" is the amount received by Lessee for the sale of the gas minus any and all reasonable and actual post production cost and expenses incurred by Lessee and/or its affiliates between the wellhead and the point of sale, including, but not limited to, cost associated with the following: gathering and/or transporting the gas from the well to the point of sale (including line loss); and compressing (including the cost of electricity, gas or other fuel); and desulphurization and puri?cation; and treating; and dehydrating; and extracting; and processing; and storage; and marketing; and sweetening; and removal of liquid or gaseous substances or impurities from the gas. Such expenses and cost shall include all severance, ad valorem, and other production related taxes charged to or incurred by Lessee. Lessee shall have the right to allocate post production costs and expenses in its reasonable discretion. For the purpose of this Litigation, if your lease does not have the preceding language then it is not a Tawney Compliant lease. I 9. What if my well was a Percentage Well and a Flat Rate Well at different times? The well is included in the Percentage Subclasses for the period during which it was a Percentage Well and in the Flat Rate Subclass for the period during which it was a Flat Rate Well. Your Settlement payment will be determined based on and proportional to the time your well was in each Subclass. I 10. Are storage wells included? No. Storage wells are not included in the Settlement. I 11. Does the settlement include claims for liquids? The Court ruled that claims for liquid hydrocarbons (NGLs), if any, were not included in the case. Both plaintiffs and defendants therefore, reserved all claims and defenses for these claims. The agreement however, provides that, should NGL claims be brought, that charges by third parties to process the natural gas into liquids are allowed as a deduction, unless speci?c language in the lease prohibits such third party charges. I 12. Are there exceptions to being included? The Class does n_qt include: 0 Officers and agents of any defendant or subsidiary of any defendant named in this lawsuit or any lawsuit involving the same or similar claims as those alleged in this lawsuit; Any attorney for any defendant; Any attorney for any plaintiff in this lawsuit or in any lawsuit involving the same or similar claims as those alleged in this lawsuit against any defendant; and 0 Any judicial of?cer who presides over this lawsuit or over any other lawsuit involving the same or similar claims as those alleged in this lawsuit against any defendant. CALL 1 600-564-6019 OR VISIT 5 I 13. I?m still not sure if I?m included in the Settlement. If you are not sure whether you are included in the Settlement, you may call 1-800-564-6019 with questions or visit You may also mail questions to EQT Royalty Class Administrator, PO. Box 4227, Charleston, WV 25364, or email THE SETTLEMENT BENEFITS - WHAT You GET IF You QUALIFY A. FOR ALL CLASS MEMBERS [14. What does the Settlement provide? A $53.5 million Settlement Fund will be established by the EQT Defendants. After deducting court- approved attorneys? fees and expenses, Settlement Payments will be distributed to eligible Class Members. The EQT Defendants will also pay certain costs (up to $2 million) to administer the Settlement, separate from the Settlement Fund. More details on the Settlement are available in the Settlement Agreement, which is available at I 15. What can I get from the Settlement? The amount of your Settlement Payment will be based on: The production and sale of the natural gas from EQT Wells and Leases which you had an interest in during the class period of December 8, 2008 to December 31, 2017; The royalty volumes of gas produced and sold from your well(s) and the amount of any alleged improper deductions taken, less attorney fees, litigation costs and incentive awards; The percentage ownership that you may own in the wells; and The total number of Class Members who participate in the Settlement. 16. Is there a minimum payment? The settlement agreement provides that all Class Participants will receive, at a minimum, a payment of $200 after attorney fees and all costs have been deducted. I 17. How will payments be distributed? If the Court approves the Settlement, you will receive a Bene?t Notice describing the amount of money you are entitled to receive. Because participation in the Settlement by Class Members will not be known for certain until the Claim Forms are processed, Settlement Payments will be made in two stages in order to expedite payments. First Stage Pament: The First Stage Payment will distribute 75% of the net Settlement Fund (after attorneys? fees and costs). Second Stage Pament: The Second Stage Payment will distribute the remaining net Settlement Fund. After the distribution of the First Stage Payment, any money left in the Settlement Fund (after attorneys? fees and costs) will be distributed to the Class Participants in the same proportion as the Settlement Payments in the First Stage Payment. CALL 1-800-564-6019 OR VISIT 6 B. FOR CLASS MEMBERS WHO OWNED AN INTEREST IN A WELL OR LEASE DURING THE CLASS PERIOD AND WHOSE WELLS OR LEASEs WERE NOT DIVESTED BY EQT BEFORE THE DATE OF SETTLEMENT H8. What else does the going forward? A, For Flat Rate Converted Leases and Tawney Non-Compliant Leases: EQT agrees going forward to pay Class Participants 100% of the royalty, based on the royalty method, (see Question 19) Without any deductions, including any deductions for gathering or severance taxes. For Tawney Compliant Leases: EQT agrees going forward to pay Class Participants the royalty based on the royalty method (see Question 19) less only the Tawney Compliant Deduction de?ned in Question 20. IO For All Leases: Class Participants agree that for the period after December 31, 2017 to not assert any new royalty claims for issues litigated and settled in this case as long as the royalties paid under Class Member Leases meet or exceed the amounts calculated under the applicable Royalty Methods described in Question 19. . Future Deductions for Class Participants: EQT will take no further deductions on Flat Rate and Tawney Non-Complaint lease interests where the Court ruled that EQT could not take deductions. For those leases that the Court determined were ?Tawney Compliant,? EQT will only take deductions that are reasonable and actually incurred and limited as described in Question 20 herein. The bene?ts of the Royalty Method (see Question 19) and the Pooling Optional Modi?cation (see Question 22) going forward are limited to Class Participants that have Leases and associated wells except to the extent EQT no longer owned the leases and associated wells after December 31, 2017, due to a sale, exchange, or other divestiture entered into by EQT with third party transferees before the date of this Settlement Agreement. If you owned such a lease, then the Royalty Method calculation of royalties does not apply to you. However, you will receive the same monetary settlement bene?t as all Class Participants with like circumstances as provided by your lease. However, if EQT holds the right to certain strata under such a lease after December 31, 2017, then the rights and duties to pay royalties in accordance with the Royalty Method are to be applied only to the lease interests and strata retained by EQT following the Royalty Method Effective Date. For the leases and wells that were not sold by EQT prior to the date of the settlement agreement, nothing Will prohibit, restrict or limit ability to sell, assign, sublease or otherwise transfer any such leases and wells in the ?iture. If EQT does transfer your lease, the duties and obligations under the Agreement will continue and be binding on the transferee. 19. What is the Royalty Method? Upon ?nal approval, there are two types of wells that impact the Royalty Method calculations: CALL 1 300-564-601 9 OR VISIT 7 (1) Marcellus and Deeper Wells: includes wells drilled into the Marcellus and deeper production (full de?nition of Marcellus to include all shales including and below the Middlesex Shale of the Sonyea Formation). The royalty will be calculated for all volumes of natural gas produced and sold at the applicable percentage in the lease multiplied at 100% of the ?rst of the month Texas Eastern (TETCO) M2 published IFERC Index Price per MMBTU. Tawney Compliant leases would also include deductions described in Question 18. If for any period of twelve consecutive months, EQT actually ?rst delivers more than 35% of its gas from Covered Leases to the ?rst receipt point of a pipeline at an index price higher than the Index Price for TETCO M2, EQT will calculate royalty payments based on: The volume weighted average ?rst of the month price of TETCO M2 and the additional published index (within the next full payment period after the twelve consecutive months); and . Will continue to use this calculation for as long as this threshold continues to be met. If for any period of twelve consecutive months, EQT actually ?rst delivers gas from Covered Leases to the ?rst receipt point of other pipelines at a Index Price such that the TETCO M2 index price volume is lower than the two highest pipelines by volume of actual ?rst deliveries made by EQT, EQT will calculate royalty based on: . The volume weighted average of the Index Prices of the two highest by volume pipelines within the next full payment period after the twelve consecutive months; and . Will continue to use this calculation for as long as this threshold continues to be met. (2) Non- Marcellus and Shallower Wells: includes wells drilled into non-Marcellus and shallower (?rll de?nition to include all production shallower than the Marcellus described above (to include all formations of the Middlesex Shale of the Sonyea Formation) the royalty will be calculated for all volumes of natural gas produced and sold at the applicable percentage in the lease multiplied at 100% of the ?rst of the month Columbia Gas Appalachian (TCO) published IFERC Index Price per MMBTU. Tawney Compliant leases would also include deductions described in Question 18. If for any period of twelve consecutive months, EQT actually ?rst delivers more than 35% of its gas from Covered Leases to the ?rst receipt point of a pipeline at an index price higher than the Index Price for Columbia Gas Appalachian (TCO), EQT will calculate royalty payments based on: . The volume weighted average ?rst of the month index price of TCO and the additional published index (within the next ?ll] payment period after the twelve consecutive months); and . Will continue to use this calculation for as long as this threshold continues to be met. If for any period of twelve consecutive months, EQT actually ?rst delivers gas ?'om Covered Leases to the ?rst receipt point of other pipelines at a Index Price such that the TCO index price volume is lower than the two highest pipelines by volume of actual ?rst deliveries made by EQT, EQT will calculate royalty based on: . The volume weighted average of the Index Prices of the two highest by volume pipelines within the next ?rll payment period after the twelve consecutive months; and . Will continue to use this calculation for as long as this threshold continues to be met. (3) Miscellaneous Provisions 0 Volumes- Royalty will be paid on volumes sold. CALL 1-800-564-6019 OR VISIT 8 0 Prices- The index prices for the gas will be deemed the reasonably highest price available in the location at issue unless there is a signi?cant change in circumstances which makes the methodology unreasonable in the future then, in i a EQT agrees it will continue to adopt a method which satis?es its obligations as the lessee to market and sell the gas under the leases. I 20. What are the Tawney Compliant deductions? For the Tawney Compliant Leases the actual and reasonably incurred, agreed upon post production deductions going forward will be twelve cents per MMBTU for 2019. This deduction will be adjusted annually on January 1 of each year to account for in?ation. The adjustment will be based on the Consumer Price Index. The deduction will never be less than twelve cents per MMBTU. If the rate is changed, notice shall be provided to Tawney Compliant lessors. I 21. What is the Index Price and where can I ?nd it? The Index Price is the average first of the month price for gas sold on the EQT Defendants? pipeline and is available in Inside Gas Market Report for Columbia Gas Appalachian. Deeper wells use the Price Index for Texas Eastern (T ETCO) M2 and shallow wells use Columbia Gas Appalachian (TCO). EQT agrees that all royalty statements provided to Class Participants will identify the ?rst of the month index prices for TetcoM2, TCO and any other Index utilized by EQT in calculating Class Participants? royalties as set forth above. EQT further agrees that it will maintain all historical ?rst of the month index prices for TetcoM2, TCO and any other Index utilized by EQT in calculating Class Participants? royalties as set forth above for a period of three (3) years following the issuance of royalty statements containing the applicable Index price. Upon written request by a Class Participant to EQT Owner Relations, EQT Corporation, PO. Box 23536, Pittsburgh, PA 15222-6536 Land Administration), EQT will provide the Class Participant with the ?rst of the month index price for a speci?c month(s). I 22. What is the Limited Optional Poolin? Modi?cation? EQT o?'ers eligible Class Participants who agree to modify their Leases to include EQT's standard pooling provision would be eligible to receive a 2% increase in their applicable royalty percentage not to exceed 18% in total. The decision to modify or not modify does not affect your rights to any other part of the Settlement. If you do not understand the terms and conditions of this proposed pooling modi?cation, you should consult your own counsel with regard to accepting or rejecting the option. If your lease already includes standard pooling provision or your EQT Lease or Well has been sold by EQT, then you would not be eligible to further modify your lease in order to receive a 2% increase. The leases which may become subject to this Option will be limited to the following counties: Wetzel, Doddridge, Harrison, Marion, Marshall, Monongalia, Ritchie, Taylor, and Tyler. standard pooling provision language includes: Lessee may pool or unitize any or all of the Leased Premises (and any or all strata) with other lands or interests to create pools or units of any size and shape, not to exceed 1,280 acres (plus 10% acreage tolerance); if larger pools or units are required or allowed by law, pools and units may conform to such size. Pools and units may contain one or more wells. Any well or operations in a pool or unit shall (except for royalties, which shall be allocated as set forth below) be considered a well or operations CALL 1 -300-554-6019 OR VISIT 9 on the Leased Premises. A pool or unit may be created, changed, or cancelled by Lessee at any time (including after drilling): by: mailing a written declaration-notice to Lessor, or (2) ?ling a declaration-notice in the applicable County real property records. To the extent permitted by law, Lessor waives rights to notice (except the above described declaration-notice), hearing and objection concerning any pooling or unitization. There shall be allocated to the portion of the Leased Premises in a pool or unit, a fractional part of the production from the pool or unit, using one of the following methods as determined by Lessee: (1) in the proportion that the Leased Premises? acreage in the pool or unit bears to the total acreage in the pool or unit; or (2) any other method or basis approved or allowable under law or governmental authority or that Lessee believes to be fair and appropriate. For royalty purposes, the production so allocated shall be deemed the entire production from the portion of the Leased Premises included in the pool or unit. Lessee may use the entire Leased Premises for the operation of any pools or units that contain a part of the Leased Premises, including to drill for, produce, transport, and remove gas and oil regardless of location. The surface location of a horizontal/directional well which is producing in a pool or unit may or may not be located on the Leased Premises or lands pooled or unitized therewith. THE CLAIMS PRocess FOR ALL CLASS MONETARY BENEFIT [23. How can I get a payment? You do not have to do anything now. If the Settlement receives ?nal Court approval, Class Members who receive this Notice in the mail will get a Claim Form in the mail automatically. That Claim Form will tell you how much you are eligible to receive from the SettlementClaim Form in the mail automatically, but you think you qualify for a payment, call 1-800-564-6019 toll free to register your name and address with the EQT Royalty Class Administrator, email or visit [24. When would I get a payment? The Court has scheduled a hearing on July 11, 2019 in Wheeling, West Virginia, to decide whether to approve the Settlement. If the Court approves the Settlement at that time or sometime a?er that, there may be appeals. There are no guarantees about how these issues will be resolved, or how long that might take. Please be patient. If the Court approves the Settlement, and it becomes ?nal, 3 claims process will begin as described in Question 23 and Claim Forms will be sent approximately two months after the Court grants ?nal approval of the Settlement. I 25. What if I disagree with the amount of my Settlement payment? There is a process included in the Settlement to resolve disagreements over the amount of your payment. You will get ?irther details in the letter you receive about your eligibility and the amount of your payment. However, unless you exclude yourself ?om the Settlement, you cannot bring a separate lawsuit concerning this matter. CALL 1-800-564-6019 OR VISIT 10 REMAINING IN THE SETTLEMENT If you are a member of the Class, you have a choice whether to remain a member of the Class or to exclude yourself. Either choice will have its consequences, which you should understand before making your decision. I 26. What happens if I do nothing? If you do nothing you will automatically remain in the Class. You will be legally bound by all Court orders, which means you won?t be able to sue, or continue to sue, the EQT Defendants about the legal claims in this case. If you received this Notice in the mail, you should receive a Claim Form in the mail automatically two months after the Court grants ?nal approval of the Settlement. In order to receive a payment, you will need to return a valid claim form. [27. What am I givingup as part of the Settlement? If the Settlement becomes ?nal and you have not excluded yourself (see Question 28), you will not be able to start a separate lawsuit, continue with a lawsuit, or be part of any other lawsuit against the EQT Defendants about the claims in this case for the time period covered by this Settlement. You will release all claims and causes of action which were litigated and settled in this lawsuit from the class period December 8, 2008 to December 31, 2017. The rights you are giving up are described in the Settlement Agreement, which is available at Please read it carefully. You can talk to the law finns representing the Class listed in Question 32 for free or you can, at your own expense, talk to your own lawyer if you have any questions concerning your rights. EXCLUDING YOURSELF FROM THE SETTLEMENT If you do not want to participate in this proposed Settlement and you want to keep the right to sue the EQT Defendants about the legal issues in this case, then you must take steps to get out of the Settlement. This is called asking to be excluded from the Class or is sometimes called ?Opting-out? of the Class. I 28. What if I don?t want to be part of the Class? If you decide not to participate in the Settlement, you must exclude yourself from the Class. If you exclude yourself, you may choose to take no further action regarding your gas lease or you may ?le an individual claim against the EQT Defendants in a separate proceeding, but you will not receive any bene?ts from this Settlement. You will not be bound by any Court orders or necessarily retain any rights from those orders and you keep your right to sue the EQT Defendants on your own regarding the issues in this case. To exclude yourself from the Class, you must mail or otherwise deliver a letter to the Claims Administrator stating that you want to be excluded from the Class. Your letter must also include: 0 Your full name, current address, property address (if different), telephone number, and your signature; 0 A description Of the property(ies), name of the well(s) involved, and your ?Owner Number? CALL 1-800-564-6019 OR VISIT 1 (found on your EQT royalty statements); 0 A statement substantially to the effect of: ?We hereby request that I/we be excluded from the proposed class in The Kay Company, LLC v. EQT Production, Co., No. and receive none of the bene?ts in this settlement.? You must mail your letter postmarked by May 17, 2019 to: EQT Royalty Class Administrator P.O. Box 4227 Charleston, WV 25364 I 29. [fl don?t exclude myself, can I sue later? Unless you exclude yourself, you give up any right to sue the EQT Defendants for the claims being resolved by this Settlement. OBJECTING TO OR COMMENTING ON THE SETTLEMENT 30. How do I tell the Court that I do not like the Settlement? You can object to or comment on the Settlement if you do not like some or all of it. The Court will consider your views. To do so, you must mail in a written objection referencing the case, The Kay Company, LLC v. EQT Production, Co., No. Include your full name, address, telephone number, signature, the speci?c reasons why you are objecting, and any legal support or evidence you wish to use to support your objection. You must mail or deliver a copy of your objection to Lead Class Counsel, Defendants' Counsel, and the Court Clerk?s of?ce, listed below, by May 28, 2019. Wheeling, WV 26003 Reference: Civil Action 13-CV-151 Court Lead Class Counsel Defendants? Counsel United States District Clerk Marvin W. Masters David K. Hendrickson, United States District Court for the The Masters Law Firm Hendrickson Long, Northern District of West Virginia 81 Summers Street PLLC 1125 Chapline Street Charleston, WV 25301 214 Capitol Street 25301 P. O. Box 11070 Charleston, WV 25339 John Kevin West. Steptoe Johnson PLLC Huntington Center - Suite 2200 41 South High Street Columbus, OH 43215 I 31. What is the difference between objecting and asking to be excluded? Objecting is simply telling the Court that you do not like something about the Settlement. You can object only if you stay in the Class. Excluding yourself is telling the Court that you do not want to be part of the CALL 1-800-564-6019 OR VISIT 12 Class. If you exclude yourself, then you cannot object to the Settlement because the case no longer affects you, and you will not get any bene?ts from the Settlement. THE LAWYERS REPRESENTING You [32. Do I have a lawyer in this Settlement? Yes. The Court appointed Marvin W. Masters and The Masters Law Firm 1c and Michael W. Carey and Carey, Scott, Douglas Kessler, PLLC as ?Class Counsel? to represent the interests of the Class. Their contact information is below: Marvin W. Masters Michael W. Carey The Masters Law Firm Carey, Scott, Douglas Kessler, PLLC 181 Summers Street 707 Virginia Street East, Suite 901 Charleston, WV 25301 Charleston, West Virginia 25301 Telephone: (304) 342-3106 Telephone: (304) 345-1234 Facsimile: (304) 342-3189 Facsimile: (304) 342-1105 If you want to be represented by another lawyer, you may hire one to appear in Court for you at your own expense. [33. How will the lawyers be paid? Class Counsel will ask the Court for attorneys? fees of up to one-third of the Settlement Fund, plus the costs of litigation which would be deducted from the Settlement Payments before distributing the rest to Class Participants. The Court may award more or less than the requested amount. Please note that the attorneys? fees and litigation costs are deducted proportionally from each Class Participant?s Settlement Payment. THE FAIRNESS HEARING I 34. When and where will the Court decide whether to approve the Settlement? The Court will hold a Fairness Hearing at on July 11, 2019 at the United States District Court for the Northern District of West Virginia, at 1125 Chapline Street, Wheeling, WV 26003, or at another United States District Court in the Northern District of West Virginia should the Court so decide. At the Fairness Hearing, the Court will consider whether the proposed Settlement is fair, reasonable, and adequate. The Court also will consider Class Counsel?s request for attorneys? fees and costs. If there are objections, the Court will consider them. A?er the Fairness Hearing, the Court will decide whether to approve the proposed Settlement and how much to award to Class Counsel as fees and costs. The Fairness Hearing may be moved to a different date without additional notice, so you should check for updated information. I 35. Do I have to come to the hearing? No. Class Counsel will answer any questions the Court may have. However, you or your own lawyer, are welcome to attend the hearing at your own expense. If you send in a written objection, you do not have to come to the Fairness Hearing to talk about it. As long as you submitted your written objection on CALL 1-800-564-6019 OR VISIT 13 time, the Court will consider it. I 36. May I speak at the hearing? 1 Yes. You may ask the Court for permission to speak at the Fairness Hearing. To do so, you must mail a letter saying that it is your ?Notice of Intent to Appear? at the Fairness Hearing in The Kay Company, LLC v. EQT Production, Co., et al No. Include your name, address, telephone number, and signature. Your Notice of Intent to Appear must be postmarked by no later than June 10, 2019 and must be sent to all three of the addresses listed in Question 30. GETTING MORE INFORMATION I 37. How do I get more information about the Settlement? I This Notice summarizes the Settlement. You can get a copy of the Settlement Agreement and other important information about the Settlement at You may also contact the Claims Administrator directly if you have any questions. Before doing so, however, please read this Notice carefully. EQT Royalty Class Administrator PO. Box 4227 Charleston, WV 25364 1-800-564-6019 If you think you may be a member of the Class and did not receive this Notice by mail, please register at the website or contact Class Counsel to provide a current address. CALL 1-800-564-6019 OR VISIT 14