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Management defines Adjusted EBITDA as reported GAAP earnings before the following items: interest expense, income taxes, depreciation, depletion and amortization, interest and other income, impairments, and other items reflected in operating income that impact comparability. California Capital Expenditures vs. Because the amounts of final adjustments are not reasonably determinable at this time, the Company is unable to provide earnings guidance other than on a non-GAAP basis that excludes the impact of the remeasurement of deferred income taxes and other potential adjustments. Tract Utica Appraisal Well Results vs. Fiscal Production Average realized price reflects uplift from financial hedges less fixed differentials under firm sales contracts and any firm transportation costs. WDA Utica well costs reflect expected drilling, completion and gathering costs for the well locations in area of redevelopment. Other estimates of oil and gas quantities, including estimates of probable reserves, possible reserves, and resource potential, are by their nature more speculative than estimates of proved reserves. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. See non-GAAP disclosure on slides 56 and

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