Non-GAAP Financial Measures and Reconciliations

Some disclosures may include financial measures that are not in accordance with United States generally accepted accounting principles (GAAP). While management believes that these non-GAAP measures are useful for investors, they should not be used as a replacement for financial measures presented in accordance with GAAP. See the attached schedule for a discussion of each of these non-GAAP measures, including reconciliations to their most directly comparable GAAP measure.

  • Adjusted Net Income (Loss)
  • Adjusted EBITDAX and Adjusted EBITDAX per Boe
  • Adjusted EBITDAX Margin
  • Core Adjusted EBITDAX
  • Discretionary Cash Flow
  • Free Cash Flow
  • Production Costs per Boe, Excluding Effects of PSC-type Contracts
  • Adjusted General and Administrative Expenses

Performance and Other Measures

  • PV-10 and Standardized Measure
  • Reserves Replacement Ratios
  • Finding and Development Costs
  • Recycle Ratio
  • Debt-Adjusted Shares

Investor Contact

Scott Espenshade

Senior Vice President,
Investor Relations

(818) 661-6010
Email Investor Relations

Media Contact

Margita Thompson

Senior Vice President,
Public Affairs & Community Outreach

(818) 661-6005
Email Communications

Transfer Agent

American Stock Transfer and Trust Company, LLC

Shareholder Services

6201 15th Avenue
Brooklyn, NY 11219
(866) 659-2647
crc@amstock.com
www.amstock.com

Oil and Gas Royalty Interest Owners

California Resources Corporation

Attn: Land Administration
900 Old River Road
Bakersfield, CA 93311
(855) 272-5519
Owner Relations Help Desk
www.crcroyalty.com

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