Recent Updates — UNG

United States Natural Gas Fund amended its ISDA Master Agreement with Société Générale S.A., reducing the Total Net Assets (TNA) Decline Event Additional Termination Event threshold from $1.5 billion to $200 million. This adjustment reflects the fund's current performance and aims to prevent the termination event from being triggered absent a credit event. The United States Natural Gas Fund, LP is an exchange-traded commodity pool that tracks natural gas prices.

The sole shareholder of the fund's general partner, The Marygold Companies, Inc., entered into a definitive agreement to be acquired by Madison Dearborn Partners in an all-cash transaction. Upon completion, expected in the first half of 2027, The Marygold Companies will become privately held and its common stock will delist from the NYSE. This change in control is intended to facilitate a transformation strategy for USCF Investments, Inc., which manages United States Commodity Funds LLC. United States Natural Gas Fund, LP operates as an exchange-traded commodity pool that tracks natural gas prices.