As long-term shareholders of Coterra, we support transparency and accountability in corporate electoral spending. This includes any activity considered intervention in a political campaign under the Internal Revenue Code, such as direct and indirect contributions to political candidates, parties, or organizations, and independent expenditures or electioneering communications on behalf of federal, state, or local candidates. A company’s reputation, value, and bottom line can be adversely impacted by spending that is conducted blindly. The risk is especially serious when giving to trade associations, Super PACs, 527 committees, and social welfare organizations – groups that routinely pass money to or spend on behalf of candidates and political causes that a company might not otherwise wish to support. The Conference Board’s 2021 Under a Microscope report details these risks, recommends the process suggested in this proposal, and warns a new era of stakeholder scrutiny, social media, and political polarization has propelled corporate political activity—and the risks that come with it—into the spotlight. Political activity can pose increasingly significant risks for companies, including the perception that political contributions—and other forms of activity—are at odds with core company values. This proposal asks Coterra to disclose all its electoral spending, including payments to trade associations and other tax-exempt organizations which may be used for electoral purposes–and are otherwise undisclosed. This would bring our Company in line with a growing number of leading companies, including Apache Corporation, Diamondback Energy, and Phillips 66, which present this information on their websites. Without knowing the recipients of our Company’s political dollars we cannot sufficiently assess whether our Company’s election-related spending aligns or conflicts with its stances on key environmental and social issues like climate change and racial equity. We urge your support for this critical governance reform.