Smart Sand and EQT mutually terminate PPA, enter new frac sand supply agreement through 2027

Smart Sand, Inc.

Mutual termination of Master Product Purchase Agreement, effective Dec 31, 2025; original PPA dated Aug 2, 2021.
New take-or-pay product purchase agreement with EQT for frac sand supply through 2027, effective Nov 4, 2025.
Both agreements include monthly capacity reservation charges; new agreement described as in ordinary course of business.

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