Material Agreement (Form 8-K)

Item 1.01 Entry into a Material Definitive Agreement.

As of October 13, 2026, United States Natural Gas Fund, LP (the "Registrant") amended the International Swaps and Derivatives Association, Inc. ("ISDA") 2002 Master Agreement (the "Agreement") that it has in place with Société Générale S.A., which it entered into on June 13, 2022. The amendment reduces the "Total Net Assets ("TNA") Decline Event" Additional Termination Event in the Agreement that applies with respect to the Registrant (the "TNA ATE") from $1.5 billion to $200,000,000. The reduced TNA reflects the performance of the Registrant and is intended to ensure that the TNA ATE is not triggered absent a credit event having occurred in respect of the Registrant.

The foregoing description of the amendment to the Agreement is qualified in its entirety by reference to the full text of the Agreement, which is attached hereto as Exhibit 10.16 and is incorporated herein by reference.