Explanation of Responses:
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1)
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David Einhorn is the president of Greenlight Capital, Inc. ("Greenlight Inc."), the senior manager of DME Advisors GP, LLC ("DME GP") and the Senior Manager of Greenlight Masters, LLC ("Masters LLC"). DME GP is the general partner of DME Advisors, LP ("DME") and DME Capital Management, LP ("DME CM"). Mr. Einhorn may be deemed to beneficially own the securities reported herein by virtue of his positions with respect to Greenlight Inc., DME GP and Masters LLC.
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2)
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The foregoing entities control the disposition and voting of common stock (the "Common Stock") of CONSOL Energy Inc. ("Issuer"), owned by the following entities: Greenlight Capital, L.P. ("Greenlight Fund"), Greenlight Capital Qualified, L.P. ("Greenlight Qualified"), Greenlight Capital Offshore Partners ("Greenlight Offshore"), Greenlight Capital (Gold), LP ("Greenlight Gold"), Greenlight Capital Offshore Master (Gold), Ltd. ("Greenlight Gold Offshore"), an account managed by DME (the "Managed Account") and Greenlight Masters Partners ("Greenlight Masters" and, together with Greenlight Fund, Greenlight Qualified, Greenlight Offshore, Greenlight Gold, Greenlight Gold Offshore and the Managed Account, the "Greenlight Accounts," and the Greenlight Accounts, together with, Greenlight Inc., DME GP, Masters LLC, DME, DME CM and Mr. Einhorn, the "Greenlight Parties"), in the respective capacities and quantities further described in the footnotes below.
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3)
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Pursuant to Rule 16a-1 under the Securities Exchange Act of 1934, as amended (the "Act"), the Greenlight Parties disclaim beneficial ownership of the Common Stock except to the extent of their respective pecuniary interests therein. The filing of this Form 4 shall not be construed as an admission that any of the Greenlight Parties is or was for the purposes of Section 16(a) of the Act, or otherwise, the beneficial owner of any of the Common Stock owned by the Greenlight Accounts.
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4)
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of Greenlight Fund, for which Greenlight Inc. serves as investment manager.
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5)
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of Greenlight Qualified, for which Greenlight Inc. serves as investment manager.
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of Greenlight Offshore, for which Greenlight Inc. serves as investment manager.
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7)
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of Greenlight Gold, for which DME CM serves as investment manager.
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8)
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of Greenlight Gold Offshore, for which DME CM serves as investment manager.
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9)
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of the Managed Account, for which DME serves as investment manager.
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10)
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Represents, as applicable, shares of Common Stock or total return swaps referencing shares of Common Stock held for the account of Greenlight Masters, for which Masters LLC serves as investment manager.
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11)
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Represents a cash-settled total return swap agreement with a securities broker (the "swap") referencing the notional number of shares of Common Stock set forth in Table II. Under the terms of the swap, (i) the broker is obligated to pay the applicable Greenlight Account an amount per reference share equal to any increase in the market price of the Common Stock relative to the initial reference price set forth in Table II, and (ii) the applicable Greenlight Account is obligated to pay the broker an amount per reference share equal to any decrease in the market price of the Common Stock relative to the initial reference price set forth in Table II, in each case subject to payment of a commission by the applicable Greenlight Account.
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