On January 11, 2019, D. E. Shaw & Co., L.P. announced that it has sent a letter to the Board of Directors of EQT Corporation expressing its support for the Rice Team and its concerns regarding recent statements made and actions taken by the Company. In the letter, D. E. Shaw stated that it has been disappointed in the current management’s poor execution and it is excited about the prospect of Toby Rice and Rice Team returning to lead the Company and deliver the performance improvements shareholders deserve. D. E. Shaw also stated that it supports the Rice Team because they are seasoned operators with a proven track record of delivering peer-leading results on the exact assets that the Company owns. D. E. Shaw stated that it asks the Board to work towards constructive solution or let shareholders vote in April – when the Company has held its annual meeting for decades.