Q125 Recap: Delivering On All Strategic Priorities Robust Financial Performance All metrics in-line or exceeding expectations Substantial FCF generation (45% annualized yield) Solid Operational Execution Continued Eagle Ford…
CRGY Performance: Strong Q1 Results Substantial Large, Low Decline Cash Flow Generation Base Production 530 MM Adj. EBITDAX(1) 258 Mboe/d 242 MM Levered FCF(1) 40% Oil / 58% Liquids Attractive Balance Sheet Return of Capital…
Doing What Weve Said Wed Do for the Last Decade CRGY Strategy and Portfolio Built to Perform Through Cycles Current Past Decade (Average)(2) Commodity Prices(1) Commodity Prices 62.80 / 2.93 62.61 / 3.16 Capital Allocation…
Advantaged Stability & Free Cash Flow Generation Profitable, Low Decline Base Business with Lower Capital Intensity than Peers 25% 33% % NTM Decline Rate % FCF Yield(2) Peers(1) Replace 30% More CRGY FCF Yield(2) is 90%…
2025: Capital Flexibility Driving Durable Free Cash Flow Dynamic and Returns-Driven 2025 Operating Plan Flexible Capital Allocation High-quality assets largely 2025E Hedged FCF Generation(1) ( in MM) 1,000 held by…
Eagle Ford Quarterly Highlights: Premier Position with Attractive Commodity Diversification Scaled Footprint with Significant Incremental Growth Opportunity Eagle Ford Acreage Increasing Year-Over-Year Well Productivity…
Capital Efficiencies Increasing Free Cash Flow Operational Execution Driving Continued Savings in Development Costs 2,100 Drilling +40% 1,500 Speed (drilled ft/day) Faster than Peers(1) CRGY CRGY Eagle Ford EF Peer Peer…
Uinta Quarterly Highlights: HBP Asset Base with Substantial Stacked Resource Opportunity Prudent Delineation of Significant Resource and High Value Long-Term Development Opportunity Uinta Acreage Development Program to Date…
Successful Track Record of Accretive Acquisitions Profitably Scaled 2x Since Public Listing Consistent Underwriting Criteria Cash-on-cash returns, equity accretion and strong balance Proven Acquisition Strategy(1) (Crescent…
BB Balance Sheet Reflects Financial Strength Targeting Investment Grade Balance Sheet Metrics Through Cycles Commitment to Balance Sheet Strength Maintain Ample Liquidity: Current liquidity is 3x our Current Leverage Total…
Decade-Plus History of Returning Cash to Shareholders Capitalizing on Share Price Dislocation with 30 MM of Repurchases YTD Return of Capital Framework: Fixed Dividend Yield Comparison(2) 13 Consecutive 1 Fixed Dividend: years…
Transforming Crescents Equity Positioning Up-C Elimination Represents Another Major Step in Crescents Evolution Simplified structure and financial reporting Single class of common stock with full conversion of Class B shares…
Appendix CRESCENT ENERGY
2025 Outlook: Flexible Capital Allocation and Significant Free Cash Flow Generation 2025 Guidance Capital Expenditures Full Year 2025 By Commodity Total Production (Mboe/d) Prior 254 264 Dry Gas 10% - 20% Total Production…
Closed Complementary Central Eagle Ford Bolt-On Ridgemar Acquisition Adds High Margin Production and Significant Inventory In Core Area at Attractive Value; Closed 1/31 CRGY Central Eagle Ford Position Enhancing Eagle Ford Scale…
Eagle Ford Asset Detail: Premier Position with Attractive Commodity Diversification Asset Detail Operated Central Southern Western Non-Op Net Acres 240k 100k 165k 33k Live Oak, Atascosa, Webb, La Salle, Dimmit, Webb, Zavala,…
Uinta Asset Detail: HBP Asset Base with Substantial Stacked Resource Opportunity Asset Detail Inventory Upside Current CRGY inventory estimates DAGGETT only include a portion of Uinta substantial resource opportunity Uinta Peer…
Active Hedge Strategy Provides Cash Flow Durability Protecting the Downside and Retaining Attractive Upside Exposure with Mix of Swaps and Collars in 2025; 60% Hedged on Both Oil and Gas 2025E Hedge Gain / (Loss) ( in MM, Except…
Hedge Position: Gas Q2 2025 Q3 2025 Q4 2025 FY 2026 FY 2027(1) NYMEX Henry Hub (MMBtu, /MMBtu) Swaps Total Volumes 14,742,000 17,204,000 18,744,000 98,320,000 18,250,000 Total Daily Volumes 162,000 187,000 203,739 269,370…
Per Unit Performance For the three months ended March 31, 2025 March 31, 2024 December 31, 2024 Average daily net sales volumes: Oil (Mbbls/d) 102 70 98 Natural gas (MMcf/d) 655 403 671 NGLs (Mbbls/d) 47 28 45 Total (Mboe/d) 258…
Adjusted EBITDAX & Levered Free Cash Flow Adjusted EBITDAX & Levered Free Cash Flow Crescent defines Adjusted EBITDAX as net income (loss) before interest expense, loss from extinguishment of debt, income tax expense (benefit),…
Adjusted EBITDAX & Levered Free Cash Flow (Contd) Three Months Ended March 31, 2025 March 31, 2024 (in thousands) Net income (loss) 5,911 (32,364) Adjustments to reconcile to Adjusted EBITDAX: Interest expense 73,182 42,686 Loss…
Net LTM Leverage & PV-10 Reconciliation Net LTM Leverage Crescent defines Net LTM Leverage as the ratio of consolidated total debt to consolidated Adjusted EBITDAX as calculated under the credit agreement (the Credit Agreement)…
Adjusted Recurring Cash G&A Adjusted Recurring Cash G&A Crescent defines Adjusted Recurring Cash G&A as general and administrative expense, excluding equity- based compensation and transaction and nonrecurring expenses, and including…
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