February 2022 (NYSE: CRGY) A Differentiated U.S. Energy Company CRESCENT ENERGY
Crescent Energy: A Differentiated U.S. Energy Company A Diversified and Well-Capitalized Energy Company with an Investor Mindset and a Focus on Sustainable Value Creation Substantial Cash Flow Generation Supported by Predictable…
Consistently Executing Our Strategy We Seek to Deliver Attractive Risk-Adjusted Investment Returns and Predictable Cash Flows Across Cycles Employing a differentiated business model that combines an investor mindset and deep…
Sustainable Value Creation: Our Free Cash Flow Model Stable Asset Base Generates Predictable Free Cash Flow, Supported by Financial Discipline and Growth Through Returns-Driven Investing Cash flow is the foundation of our business,…
Low-Decline Production Base Drives FCF Generation Scaled Portfolio of Stable, Low-Decline Production from a Diversified Asset Base Generates Substantial and Predictable Free Cash Flow First Year PDP Decline vs. Peers(1) Low-decline…
Flexible & Returns-Driven Organic Growth Potential Balanced Portfolio of Attractive, Low-Risk Reinvestment Opportunities in Key Proven Basins Across The Lower 48 Extensive low-risk capital opportunity Attractive & competitive…
An Attractive Market for Consolidation Historically Low Equity Capital Formation and An Increasing Supply of Assets and Businesses For Sale Has Created a Unique Market Opportunity Large, Increasing Universe (Capital(1) Bn)…
Continuing Our Active Acquisition Strategy Differentiated Business Model, Scaled Asset Base & Investment Experience Uniquely Position Crescent to Further Capitalize on the Market Opportunity Crescent Consistent Acquisition Strategy…
Initial 2022 Guidance 2022 Program Generates 325 - 375 MM of Levered Free Cash Flow(1) Capital Allocation Commentary Initial 2022 Guidance (75 / Bbl WTI and 3.75 / MMbtu Henry Hub) Operated: 32 38 gross wells online (90% WI), Full…
Disciplined Financial & Risk Management Program Prioritize Balance Sheet Target investment grade credit metrics Strength Long-term target leverage at or below 1.0x Returns Focused Disciplined reinvestment of a portion of cash…
Commitment to Financial Strength and Flexibility Low Leverage Strategy with 1.0x Long-Term Target Pro Forma Capitalization Table as of 9/30(4) Targeting Investment Grade ( in MM, unless noted) Balance Sheet Metrics As Further As…
Our Reliable Dividend Fixed within a Framework Our Adj. EBITDAX-Based Dividend Framework is Designed to Deliver a Reliable Return of Capital to Our Shareholders(1) Illustrative Dividend Dividend framework distributes (Assuming 1Bn of…
Our Commitment to ESG Improvement Crescent Energy is Committed to its Stated ESG Priorities Since closing the merger in ESG Priorities December, we have executed on three important ESG initiatives Work to reduce greenhouse gas…
Aligned Management & Board with Investor Mindset Uniquely Aligned Management Team with High Insider Ownership and Exclusively Performance-Based Long-Term Incentive Structure David Brandi Todd Ben Clay Bo Rockecharlie Kendall Falk…
Crescent Energy: A Compelling Investment A Diversified and Well-Capitalized Energy Company with an Investor Mindset and a Focus on Sustainable Value Creation Unique business model combining an investor mindset & deep operational…
Appendix CRESCENT ENERGY
Our Operating Model Employing a Differentiated Business Model that Combines an Investor Mindset and Deep Operational Expertise to Deliver Sustainable Value Creation Operating through three scaled asset strategies with financial…
Crescent Energy Reserves Summary Year-End Proved Reserves of 532 MMBoe at SEC Pricing Comprised of 54% Liquids and 86% Proved Developed Reserve Category Oil (MBbl) Gas (MMcf) NGL (MBbl) Total (MBoe) PV-0 (MM)(1) PV-10 (MM)(1)…
Operated Eagle Ford Overview Large contiguous operated position located in the oil window of the Eagle Ford Eagle Ford Overview Eagle Ford Asset Map Scaled, contiguous operated position with Operated Acreage 82,000 net acres in the…
Our Proactive Hedge Strategy Active Hedge Strategy Protects the Balance Sheet and Protects Returns on Capital While Maintaining Exposure to Future Commodity Prices Protect the balance sheet: PDP Cash Flow vs. Debt Maturities (MM)…
Summary Hedge Position as of 12/31/2021 66% Hedged in 2022 at the Midpoint of the Production Guidance Range. Hedge Protection Only Represents 11% of Proved Developed Volumes WTI Oil Brent Oil Natural Gas NGLs Hedged Weighted Hedged…
G&A Costs In-Line with Peers Crescent Energy Has Access to KKRs Global Platform and Maintains G&A In-Line with Peers Pursuant to a management agreement, an affiliate of KKR provides Crescent with its executive management team and…
Our Board of Directors Crescents Board of Directors Brings Together a Diverse Group of Seasoned Executives with a Broad Range of Valuable Expertise Crescent Board comprised of more than 75% Independent Directors(1) One Director to…
ESG Advisory Council Our ESG Advisory Council meets quarterly and advises management and the board on a variety of ESG topics, including environmental, health & safety; climate change & greenhouse gas emissions reduction; water…
Our Up-C Organizational Structure The Diagram Below Depicts Our Organizational Structure Immediately Following the Closing of the Merger with Contango Oil & Gas Company Up-C Investors and Crescent Energy Company (PubCo) hold units…
Non-GAAP Reconciliation For the nine months ended (in thousands) September 30, 2021 Net loss (678,112) Adjustments to reconcile to Adjusted EBITDAX: Interest expense 47,270 Realized loss on interest rate derivatives 7,373 Income…
Stay Connected. Emily Newport IRcrescentenergyco.com 600 Travis Street Suite 7200 Houston, Texas 77002 + 1 (713) 332-7001 www.crescentenergyco.com
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