Crescent Energy : 2024 Sustainability Report

Published: 2026-05-04 15:00:10 ET CRGY

Published on 05/04/2026 at 03:00 pm EDT

3 ABOUT

- About Crescent Energy

5 STRATEGY

- Sustainability Strategy & Focus Areas

7 GOVERNANCE

Board of Directors

Sustainability Council

Management & Corporate Risk Strategy

Cybersecurity

12 SAFETY

HSE Governance & Safety Performance

Workforce Safety Management

15 ENVIRONMENT

Climate Related Oversight to Mitigate Risks

Emission Reduction Commitments & Initiatives

Spill Prevention & Management

Water Stewardship

Protecting Resources

21 SOCIAL

Workforce Management

Community Engagement & Giving

Tribal Relations

25 APPENDIX

Performance Metrics

SASB & TCFD Content Indices

About this Report

Crescent Energy Company ("Crescent") is pleased to present our 2024 Sustainability Report ("Report"), our fifth annual report which provides stakeholders insight into our sustainability progress through environmental initiatives, safety management and community engagement.

Report data is inclusive of all Crescent operated assets for calendar year 2024. In some cases, our performance metrics may reflect the partial calendar year, as assets are included based on our ownership during the year. Emissions data is always reported on a full-year basis for consistency with EPA reporting methodologies.

Reviewed and approved by the Sustainability Council, this report reflects the most accurate information available at the time of publication. Changes to data calculation methodologies, including categorization, are noted throughout this report, but we make no guarantee that all such changes are noted in every instance. These changes could affect data values after publication for certain reporting elements. An independent third-party, Spirit Environmental, has provided pre-assurance of our Scope 1 greenhouse gas ("GHG") emissions for material assets, with their statement included in the appendix of this report.

2024 Sustainability Report 2

This report was designed in accordance with our updated materiality assessment and in reference to internationally recognized sustainability frameworks, specifically the SASB Standard for Oil & Gas - Exploration & Production and the Task Force on Climate-Related Financial Disclosures ("TCFD") framework. The key issues addressed were identified through stakeholder engagement and represent areas with significant impact on both our business and the communities we serve. Please see the section titled "Cautionary Statement Regarding Forward-Looking Statements" for additional information about our use of the term "material" or "materiality" throughout this report.

2024 Sustainability Report 3

At Crescent, we are investors and operators focused on delivering shareholder value through disciplined, returns-driven growth by acquisition, strong free cash flow generation and consistent capital returns.

Production Excellence

#3(1)

Gross Producer in the Eagle Ford

(1) Source: Enverus as of 7/29/25. Based on trailing 3-month average production for months with complete data (January-March/25).

2024 Sustainability Report 3

Mission & Values

Headquartered in Houston, Texas, Crescent is a differentiated energy company committed to delivering value through a disciplined, returns-driven growth through acquisition strategy and consistent return of capital. Our long-life, balanced portfolio combines significant cash flow from stable production with deep, high-quality development inventory.

In 2024, we executed our disciplined growth strategy by acquiring SilverBow Resources and additional complementary bolt-on transactions. This expansion of our Eagle Ford footprint established Crescent as a top three producer in the basin by gross operated production.

As a long-standing Eagle Ford operator, we focus on maintaining stable production,

Our mission is to invest in energy assets and deliver better returns through safe and proven operating practices and stewardship.

Excellence Stewardship Teamwork Integrity

pursuing low-risk development and expanding resource through accretive acquisitions across both oil and natural gas. Our portfolio extends to the Uinta basin, where we produce high-value crude and maintain a large inventory of undeveloped locations with significant resource potential. We also operate conventional assets in Wyoming† , featuring low-decline production and enhanced oil recovery projects that employ carbon capture, use and storage ("CCUS") technology.

We embrace our responsibility as stewards of environmental resources, investor capital and community relationships. We believe genuine alignment with all stakeholders - employees, investors, customers and communities, is fundamental to our success. Guided by a team of industry and investment professionals, we've executed a disciplined growth through acquisition strategy for more than a decade.

YE 2024 Operations Snapshot

We set and deliver on ambitious goals without compromising core values and culture.

We prioritize decisive action, continuously learning while challenging assumptions, and maintain high expectations for both individual and collective results.

We protect the well-being of our

team, partners and communities in every decision.

We keep earning our stakeholders' trust by delivering long-term value, approaching every decision with an ownership mindset.

We encourage a sense of unity by working together in-person in an open and inclusive environment.

We work collaboratively, seeking out other perspectives and knowledge sharing to solve our challenges and achieve our objectives.

We treat each other with respect and expect to succeed without compromising our values.

We communicate early and openly about progress and challenges, owning our decisions, actions and outcomes.

201 Mboe/d(1)

2024 net production

~60%

liquids

$6.5 Bn(2)

total proved PV-10

4-5 rigs

focused on the Eagle Ford and Uinta

~$5.2 Bn

M&A transactions since June 2021

Reflects net production for full year 2024, inclusive of acquisitions. Gross production for full calendar year emissions may be found in the activity metrics on page 27.

PV-10 is a non-GAAP measure. For a reconciliation to the comparable GAAP measure, see Appendix. Based on YE'24 reserves at YE'24 SEC pricing of $75.48 / bbl for oil and $2.13 / MMbtu for gas. Includes the 2024 SBOW acquisition.

(†) Wyoming and Oklahoma assets, as of December 1, 2025, and December 12, 2025, respectively, have been sold to unrelated third parties.

ABOUT

STRATEGY GOVERNANCE SAFETY ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 4

Crescent strives to enhance the assets in our portfolio, focusing on improved financial performance, safe and efficient operations and environmental stewardship. We firmly believe that responsible operations create lasting value -delivering positive impacts for communities while generating strong, sustainable returns for our investors.

Stewarding Acreage

Net acres operated in the Eagle Ford

2024 Sustainability Report 5

We seek to integrate our sustainability focus areas into our operations and acquisition strategy as we strive to mitigate risks and enhance operational performance, benefiting both shareholders and communities.

As a part of our operations planning, we identify improvement opportunities under our management and reinforce commitments by linking these metrics to employee compensation to drive organization-wide commitment to these five focus areas.

Scope 1 GHG Emissions

Reduce absolute Scope 1 GHG emissions by 700,000 mt CO₂ by the end of 2025 (from projects initiated in 2021 and beyond)

Methane Emission Intensity

Lower methane emissions intensity to 0.20% or below by 2030

Routine Flaring

Eliminate routine flaring across operations by 2030

Crescent's Targets:

Sustainability Focus Areas:

ENVIRONMENT

Be a steward of our natural resources

CLIMATE

Reduce Scope 1 GHG emissions

SAFETY

Pursue a zero-incident workplace

COMMUNITY

Listen and respond to community and stakeholder concerns

WORKFORCE

Develop and maintain an engaged and collaborative work culture

ABOUT

STRATEGY

GOVERNANCE SAFETY ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 6

Crescent's governance practices reflect our commitment, at every level of the organization, to act with integrity as stewards of our stakeholders' resources.

Independent Oversight

Board Independence according to NYSE Standards

2024 Sustainability Report 7

Crescent is governed by an experienced, independent-led Board dedicated to financial discipline, risk management, sustainability and accretive growth - all focused on delivering long-term shareholder value. Our twelve-member Board, including ten independent directors, meets at least quarterly to evaluate company performance and provide oversight of our sustainability initiatives.

83%

independent according to NYSE standards

~3 yrs

average tenure

83%

energy expertise

Board of Directors(1)

Audit Committee

Compensation Committee

Nominating G Governance Committee

John Goff*

William Albrecht*

Bevin Brown*

Claire Farley*

Robert Gwin*

Jarvis V. Hollingsworth*

Brandi Kendall

Conrad V. Langenhagen*

Ellis L. "Lon" McCain*

David Rockecharlie

Marcus C. Rowland*

Karen Simon*

•

Chair • Member * Independent Director

Audit Committee

The Audit Committee, comprised solely of independent directors, supports the Board in overseeing a range of activities including the Company's Enterprise Risk Management ("ERM") process, financial statements, adherence to legal and regulatory standards, cybersecurity matters and the work of independent auditors.

(1) As of December 12th, 2025

Nominating & Governance Committee

This Committee provides guidance to the Board regarding governance practices, the selection of director nominees, Board composition and the structure of committees. The Nominating & Governance Committee is responsible for evaluating the mix of talent, experience, competencies and skills present on the Board, as well as leading an annual review of the Board's performance, along with that of its committees and management.

Compensation Committee

This committee evaluates executive compensation strategies and provides Board recommendations on plans, policies and programs. Their focus is designing frameworks that attract and develop talent, reward performance, foster accountability and align the interests of officers, directors and shareholders.

ABOUT STRATEGY

GOVERNANCE

SAFETY ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 8

Our Sustainability Council was formed to promote external insights, foster innovative ideas and ensure ongoing improvement of our sustainability performance. Composed of leading experts in the field, this council convenes at least quarterly to provide guidance to our senior leadership and Board on sustainability matters.

Sustainability Council Members

Karen Simon, an independent member of our Board, serves as Sustainability Council Chair and reports to the Board regularly on Council updates.

Karen Simon

Chair & Board Liaison

Council Responsibilities

Offers constructive input and feedback on the company's sustainability-related activities, practices, programs and policies

Advises on implementation of sustainability-related policies, programs and engagement strategies

Shares key learnings, industry trends and best practices

Identifies sustainability-related risks and opportunities

Served as Vice Chairman, Investment Banking at J.P. Morgan

35+ years of corporate finance experience

Senior roles in oil and gas, debt capital markets and private equity coverage

Current Chair of Energean plc and Director for Aker ASA

John Mingé

Industry Advisor

Served as Chairman and President of

BP America

Held executive and engineering positions in the U.S., U.K., Vietnam and Indonesia

Brings decades of operational and HSE expertise

Recently served as Chair of the National Petroleum Council's Carbon Capture, Use and Storage Study

Alexandra Guaqueta

Social Impact Expert

Served as Global Lead,

External Affairs and Communities, at Rio Tinto

Global Services Lead, Social Impact and

Human Rights for ERM

Former member of the UN Working Group on Business and Human Rights

Subject matter expert in community

engagement, integrated sustainability strategy and corporate philanthropy

Dr. Michael E. Webber

Energy & Engineering Academic

Served as the Chief Science

and Technology Officer at ENGIE

The Josey Centennial Professor in Energy Resources at UT Austin

Specializes in research and education at the

convergence of engineering, policy and commercialization related to innovation, energy and the environment

ABOUT STRATEGY

GOVERNANCE

SAFETY ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 9

Management

Success in our industry requires a unique blend of investment insight, operational expertise and deep sector knowledge. Our senior leadership consists of a team of proven professionals with decades of experience in these areas. Together, they drive our strategic vision while continuously advancing our environmental and safety performance standards.

Crescent's sustainability experts work with our business leaders to identify and execute high-impact capital projects and operational enhancements to achieve our goals. We also partner with third-party advisors and independent experts who bring fresh perspectives to our sustainability initiatives.

Corporate Risk Strategy

Crescent's comprehensive enterprise risk management program is designed to enable leadership to identify and address potential threats to our strategic objectives. This structured evaluation process drives protective measures and identifies improvement opportunities that safeguard our reputation, financial health and stakeholder wellbeing. Our Board reviews quarterly risk profiles and works closely with senior leadership to promote effective risk management practices.

Our field risk process includes annual workshops to identify potential threats and develop mitigation plans, with ongoing monitoring throughout the year. Climate risks are integrated into our broader risk framework and reviewed by our Sustainability Council, with material issues escalated to the Board when appropriate. Additional details appear in the Environment section of this report.

Relationship with KKR

KKR is a significant long-term investor in Crescent and provides services to Crescent through a management services agreement.(1)

KKR's differentiated global investment management platform allows us access to global business and sustainability-related resources, including experienced investment professionals who monitor issues and trends and recommend strategies to help navigate changing market dynamics with respect to business and sustainability issues.

(1) Crescent has entered into a management agreement with KKR Energy Assets Manager LLC (the Crescent Manager) pursuant to which the Crescent Manager has agreed to provide certain management and investment advisory services to Crescent Energy Company and its subsidiaries.

About KKR

Focus Areas

PEOPLE

HSE &

SUST ILITY

AINAB

OPERATIONS

FINANCE & ACCOUNTING

INFORMATION TECHNOLOGY

LEGAL & REGULATORY

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds.

KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group.

References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE : KKR), please visit KKR's website at https://www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at https://www.globalatlantic.com.

ABOUT STRATEGY

GOVERNANCE

SAFETY ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 10

We recognize that strategic cybersecurity is essential to protecting our data integrity, operations and stakeholders. We remain committed to maintaining a thorough and comprehensive security approach that safeguards our digital assets while enabling business growth.

Governance

At the Board level, the Audit Committee oversees our cybersecurity risks and the steps taken to monitor and mitigate them. Additionally, cybersecurity risks are reviewed by our Board at least annually as part of our corporate risk mapping exercise, fostering comprehensive governance of our security program.

The Chief Information Officer (CIO), in conjunction with the Head of Cybersecurity and Governance, Risk & Compliance (GRC), provides quarterly updates to the Audit Committee covering emerging cybersecurity trends, operating effectiveness and strategic cybersecurity initiatives.

Security Culture & Awareness

We employ a comprehensive information security policy across our organization that establishes cybersecurity expectations and safe practices for all employees. To support this policy, we deploy enterprise-wide security technologies for endpoint protection, data safeguarding and secure authentication. Our security education program includes regular training sessions featuring both awareness education and practical exercises, like simulated phishing campaigns, to instill proactive security behaviors.

Beyond Board oversight, the CIO meets regularly with the executive management team to discuss active cybersecurity initiatives, tabletop exercises, insurance renewal and annual third-party assessments. Crescent maintains an incident response plan to guide the Cybersecurity Incident Response Team (CIRT) members, representing key functions

across the organization, in properly handling potential incidents.

Applying Protection Measures

To protect our organization effectively, we implemented the following best practices:

Align our systems and processes with the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF) 2.0 and conduct annual assessments against these standards

Build our cybersecurity capabilities around an in-house team with significant technology and oil and gas industry experience, enhanced by external security partners and consultants working under the guidance of the technology risk management committee

Incorporate security and privacy requirements into vendor contracts and evaluate third-party security posture to ensure compliance

Maintain a supply chain risk management program that identifies and addresses potential vulnerabilities with critical IT vendors

ABOUT STRATEGY

GOVERNANCE

SAFETY ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 11

We strive to build a strong and unified HSE culture by developing clear policies, structured programs and effective procedures while encouraging our team to advance best practices throughout our operations.

Transforming Safety

TRIR reduction inclusive of employees & contractors from 2023-2024

2024 Sustainability Report 12

Operating within an industry with inherent risks, we work continuously to protect our workforce, local communities and surrounding ecosystems. Our commitment extends to pursuing an incident-free workplace while fostering a culture where every safety concern is reported.

Crescent fosters a safety-first culture through our comprehensive Health, Safety and Environmental (HSE) Management System, underpinned by formal health and safety policies and standardized procedures that govern all operations. We provide tailored training and operational safety guidelines specific to each asset's working conditions. Accountability flows through multiple levels of oversight: our Board and Sustainability Council receive quarterly HSE updates on critical safety performance metrics and environmental compliance status. At the same time, senior leadership reviews monthly KPI reports from HSE and Operational teams. Safety inspections by both internal personnel and regulatory agencies further ensure compliance and accountability, as these site inspections drive continuous improvement through risk identification, cross-asset knowledge sharing and risk mitigation.

Our commitment to workplace safety extends to emergency preparedness procedures and hazard identification programs. Crescent implements emergency response plans tailored to each operational site, while drills keep our qualified response teams prepared to address potential incidents.

By employing proactive risk assessment methodologies like job safety analyses and pre-task planning, we can identify and seek to mitigate potential hazards before they materialize. Near-miss reporting further strengthens our preventative approach, enabling us to address risks at their earliest stages and cultivate an environment where safety awareness is integrated into every role.

Safety Performance

Crescent has made significant progress regarding the total recordable incident rate (TRIR), inclusive of employees & contractors. Over the past three years, we have achieved nearly a 75% reduction in total TRIR from a 2022 baseline. 2024 marks our lowest total TRIR recorded to date, with progress attributed to our commitment to educating the field on critical safety issues. We will strive to maintain this positive safety trend by continuing to train field and office personnel and tie employee compensation to safety targets.

HSE Expectations & Practices Total Recordable Incident Rate (TRIR)

Emergency Incident Response & Preparedness Management

Standards Enforcement

Stop Work Expectation

Processes, Policies & Procedures

Reporting & Transparency

Employee Training & Competency

Management System Practices

Regulatory Compliance

Hazard Identification

Leadership Engagement

Contractor Management

Risk Monitoring & Management

Disregarding Rules will not be Tolerated

Speak-up Culture

Safety will not be Compromised

Incident Free Workplace with 100% Reporting Expectation

Safety, Environmental

Expectation Stewardship & Risk Management

Accountability

Empowerment

Priority

Objective

Foundation

0.39

0.21

2023

2024

ABOUT STRATEGY GOVERNANCE

SAFETY

ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 13

At Crescent, we strive for a zero-incident workplace. Our safety strategy targets four key areas with the greatest impact on performance outcomes. We continually strengthen our safety practices by working to align expectations between employees and contractors, to establish consistent safety guidelines for everyone working at our sites and to improve communication during daily activities.

"Speaking up" remains essential to our culture, with our Stop Work Authority empowering everyone on site to halt activities when they identify potential risks. We recognize team members who exercise Stop Work Authority when safety concerns arise.

Prevention drives our evolving safety program, with hazard assessment as its foundation. By systematically evaluating risks and implementing mitigation strategies, we've developed improved job safety analysis tools, training programs and operational procedures. We also track "good catches" and "near misses," transforming these insights into preventive measures that are designed to safeguard our workforce, partners and assets.

Safety Focus Areas

Improving Back to Basics

Bolster situational awareness

Adopt "life critical programs"

Enhance safety management system software to improve data collection and analysis

Enhancing Safe Driving

Ensure vehicles are fit for purpose

Increase training and awareness

Implement vehicle and driving safety reminders in monthly meetings

Managing Contractors

Increase engagement with contractors

Set clear safety expectations for every person working on site

Enhance use of management system

Minimizing Hydrogen Sulfide (H2S) Exposure

Improve processes and procedures

Provide continual training and associated certifications

Maintain focus on mitigating risks

ABOUT STRATEGY GOVERNANCE

SAFETY

ENVIRONMENT SOCIAL APPENDIX

2024 Sustainability Report 14

We work to continually enhance our assets while minimizing our environmental impact and GHG emissions. We strive to contribute to the transition toward a lower-carbon future, while producing the conventional energy resources that we believe remain essential for societal well-being.

Measurement Informed Emissions

Year achieving OGMP 2.0 Gold

Standard Reporting after 3 consecutive years on the Gold Standard Pathway

2024 Sustainability Report 15

As part of our strategy to deliver long-term value to our stakeholders, we understand the importance of operating in a responsible manner and serving as stewards of the environment. We recognize that risk management plays a meaningful role in supporting our business, particularly as evolving energy needs and decarbonization pathways continue to shape our industry. Through asset management and operational improvements, Crescent strives to reduce emissions and contribute to global efforts to lower carbon intensity.

Governance

Our Board maintains ultimate oversight of enterprise risks, including climate-related matters, while senior leadership implements the strategy and provides regular updates. The Board receives quarterly briefings from our Sustainability and HSE Team on climate-related risks and opportunities and progress on emissions reductions, while our Sustainability Council provides guidance on sustainability trends and strategies.

Emissions profiles heavily influence our M&A evaluation process. When assessing potential acquisitions, we conduct an evaluation of the emissions footprint, identifying key drivers and infrastructure that shape our timeline and budget for carbon-reduction opportunities under Crescent's operatorship.

Recognizing Risks & Opportunities

We are committed to operating responsibly as stewards of our resources, measuring climate risks to maintain business resilience amid regulatory, political, litigation and physical challenges facing energy producers. By understanding these risks, we seek to position ourselves to effectively adapt and pursue opportunities in the evolving lower-carbon landscape. We're committed to identifying and capitalizing on transition strategies that deliver both positive returns and enhanced sustainability performance across our asset portfolio.

Among the many opportunities we've identified are:

Risk Types

as defined by TCFD

Climate Related Oversight

Recycling produced water in operations to reduce freshwater dependency

Electrifying our operations to utilize lower carbon energy sources

Rerouting gas within closed-loop systems to reduce atmospheric venting

Improving our operational efficiency

Transition

Risks related to the transition to a lower carbon economy

(e.g., policy, legal, technology, market and reputational)

Physical

Risks related to the physical impacts of climate change

(e.g., extreme weather)

Emissions Reduction

reconciliation efforts for accurate methane measurement

and continuous monitoring programs

technologies to improve efficiency

as defined by the World Bank's Zero Routine Flaring Initiative

Proven Business Strategy

long-term risks

management including commodity hedging, conservative leverage and strategic insurance products

evaluations to ensure sustainable ownership through asset life cycles

Stakeholder Engagement

progress in regular investor updates and annual sustainability reporting

Proactive Programs

conservation efforts

Set quantifiable Scope 1 GHG and methane reduction targets

Maintain OGMP 2.0 membership and

Strengthen the LDAR, aerial, satellite

Deploy emissions-reducing

Pursue the elimination of routine flaring

Target investments with short payback periods to reduce exposure to

Implement established financial risk

Incorporate analysis in investment

Maintain channels for engaging with and responding to local communities

Report transparently on sustainability

Maintain emergency preparedness and response plans

Implement spill prevention practices

Enhance water stewardship and

Adopt business continuity planning

Increasing our access to capital markets and acquisition opportunities by differentiating ourselves from peers based on strong climate-related performance and risk management

ABOUT STRATEGY GOVERNANCE SAFETY

ENVIRONMENT

SOCIAL APPENDIX

2024 Sustainability Report 16

Our project-based approach to emissions reduction allows us to incorporate new acquisitions. Crescent establishes specific, measurable goals with clear timelines, designed to accommodate future acquisitions while advancing our sustainability objectives.

OGMP 2.0

As an early adopter among U.S. onshore independent E&P companies, Crescent has actively participated in OGMP 2.0, the comprehensive measurement-based international methane reporting framework that empowers member companies to identify optimal reduction strategies. After a dedicated three-year journey on the Gold Standard Pathway, requiring consistent improvement in measurement techniques and emissions management, we reached a significant milestone by achieving OGMP 2.0 Gold Standard Reporting. This recognition reflects our efforts to enhance methane monitoring capabilities and implement our strategic emissions reduction plan.

We prioritize accurate emissions profiling as a critical step toward meaningful reductions across our operations. Our comprehensive approach includes:

Realizing efficiencies by increasingly bringing LDAR evaluations in-house and leveraging our workforce's detailed facility knowledge to improve leak identification and measurement

Deploying aerial, satellite and continuous monitoring to precisely locate and quantify emissions, providing field crews with mapped repair locations

Centralizing equipment inventory and emissions data in our integrated platform to generate regulatory reports and guide targeted reduction initiatives

Emissions Reduction Targets

Reduce our absolute Scope 1 GHG emissions by 700,000 mt CO₂ by the end of 2025 (based on projects initiated in 2021 and beyond)

Lower our methane emissions intensity to 0.20% or below by 2030

Eliminate routine flaring across our operations by 2030

Reduction Initiatives

Source & Site Reconciliation

Leveraging Measurement Campaigns & Aerial Flyovers

In 2024, Crescent completed its first comprehensive reconciliation of source and site-level emissions data following two measurement approaches we have employed, significantly improving the accuracy of our emissions profile. Our targeted pneumatic device measurement campaign, combining direct monitoring with optical gas imaging, demonstrated that source and site-level reconciled data is best at identifying opportunities for improvement. By reconciling source measurement and activity data with site-level flyover data, we believe we have established a more accurate representation of our actual adverse environmental impact, reinforcing our commitment to responsible energy development and environmental transparency.

Engineering Cleaner Operations

Utilizing Solar Conversions

In Wyoming† , our field operations team transformed standard gas-venting equipment with an innovative solution that aligns with our commitment to responsible operations. The team collaborated to develop an innovative electronic valve system paired with solar-powered battery pumps, reducing pneumatic emissions from separator dump controllers and heat trace systems. Following successful pilot testing, we implemented this technology across the entire asset, achieving a 75% reduction in pneumatic-related emissions, saving man-hours and redirecting maintenance cost savings toward additional sustainability initiatives.

2024 Scope 1 & 2 GHG Emissions

76%

Scope 1 emissions

53%

Other combustion

22%

Processed emissions

13%

Flaring

10%

Vented

Fugitive emissions

24%

Scope 2 emissions

In 2024, our Scope 11 GHG emissions were 2,351,895 mt CO₂e and Scope 22 GHG emissions were 729,148 mt CO₂e.

22%

24%

10%

13%

76%

53%

Scope 1 emissions comprise direct emissions from sources controlled by the Company.

Scope 2 emissions are indirect emissions from the generation of purchased electricity, steam, heating and cooling consumed by the Company. We calculate and report GHG emissions according to U.S. regulatory requirements and our Scope 1 emissions include emissions that fall below the EPA basin-level reporting threshold.

ABOUT STRATEGY GOVERNANCE SAFETY

ENVIRONMENT

SOCIAL APPENDIX

2024 Sustainability Report 17

Recovered Spill Volumes

As our production increases significantly through acquisitions, we continue to evaluate and implement best practices for spill prevention and recovery to improve our assets.

93%

84%

81%

83%

66%

61%

Hydrocarbon

Produced Water

Total

2023 2024

We recognize that hydrocarbon or produced water spills can pose serious risks to neighboring communities and local ecosystems while exposing our business to regulatory, legal, reputational and financial consequences. Acknowledging these potential impacts, we maintain planning protocols, operational controls and monitoring systems to help prevent spills and protect the environments where we operate.

Prevention

Regulatory Compliance

Applicable operations have Spill Prevention Control, Countermeasure Plans and Facility Response Plans.

Regular Assessments

We conduct field visits and integrity risk assessments, inspecting wells and facilities on a consistent basis. Third-party contractors (frequently on-site) act as an additional set of eyes.

Monitoring of Assets

We virtually monitor wells, tanks, facilities, pressures and production, which alerts us to changes that could indicate a release.

Equipment Replacement

Beyond what is required by applicable environmental laws, we voluntarily conduct enhanced monitoring and seek to proactively replace tanks, pipelines, and other equipment identified as high-risk for corrosion or malfunction to prevent spills.

Monitoring Transfer Lines

Identify high-risk lines

Improve infrastructure

Minimizing Human Error

Improve training and safety meeting conversations

Enhance Job Safety Analyses

Encourage "good catches"

Response & Recovery

In the event of a spill, our response prioritizes efficient recovery while protecting our workforce, communities and ecosystems. After containment, we promptly begin remediation to restore affected areas in accordance with best practices and regulations. Our thorough root cause analysis enables valuable knowledge sharing across operations, strengthening our prevention capabilities.

ABOUT STRATEGY GOVERNANCE SAFETY

ENVIRONMENT

SOCIAL APPENDIX

2024 Sustainability Report 18

Water serves as a vital resource for the environment, local communities and our operational needs. We practice responsible water stewardship through management and conservation efforts across our activities. While we require water for hydraulic fracturing and enhanced oil recovery processes, we actively pursue opportunities to recycle and reuse produced water that emerges as

Sourcing and Managing Our Water Use

We consider water management at each operational stage, tailoring our approach based on the unique needs of each site and geographic area.

a by-product of our operations.

We use water for our hydraulic fracturing activities and to enhance oil recovery at certain assets. In addition to utilizing fresh water, we generate produced water as a by-product, which we work to recycle or reuse when possible.

2022

2023

2024

Gross wells completed (#)

383

242

297

Freshwater withdrawn and

consumed (Bbls)

31,738,674

25,494,274

59,148,108

Freshwater intensity rate

(Bbls/BOE)

0.56

0.32

0.42

Produced water (%)

59%

33%

60%

31%

44%

12%

Recycled

Injected

Discharged

Produced Water Recycling Efforts

While Conserving Freshwater

In the Uinta basin, Crescent has implemented strategic header system infrastructure to utilize produced water in our hydraulic fracturing operations. By modifying flowlines and adding storage tanks, we've created a closed-loop recycling system that provides the opportunity to divert produced water from disposal wells to operational activities. This approach significantly reduces freshwater withdrawals from local sources, enhances operational efficiency and delivers meaningful cost savings -reinforcing our commitment to resource stewardship and execution of our core strategy.

In operating areas with higher water stress levels, we emphasize water stewardship. We utilize the WRI Aqueduct Water Risk Atlas to evaluate the water stress levels of our operations at least annually. Of our 2024 water usage, less than 4% (2,688,029 Bbls) was from areas of high water stress.

In 2024, we consumed all the fresh water we sourced - leaving our disposal needs focused on produced water. Our produced water disposal methods include:

Recycling the water for reuse in our operations

Treating and discharging the water

Injecting the water into permitted underground injection wells

Planning

Understand operational water needs and develop an individual site plan

Permitting

Report freshwater sourcing and usage to regulatory agencies

Operations

Use water according to operational planning and protect groundwater through wellbore design

Sourcing

Identify water sources to meet demand, study water stress and potential for recycled water

Withdrawal

When needed, remove water from its source, delivering it for use at our locations

Destination

Seek to recycle produced water or dispose in commercially-operated, permitted disposal wells

ABOUT STRATEGY GOVERNANCE SAFETY

ENVIRONMENT

SOCIAL APPENDIX

2024 Sustainability Report 19

We use impermeable steel pipes to protect groundwater aquifers during the drilling process.

We're dedicated to responsible environmental stewardship across the life cycle of our wells. We take care to protect the surrounding ecosystems during production operations, recognizing our objective to limit adverse impacts and steward the natural environments where we work for future generations.

Protecting Groundwater Aquifers

As part of our water management strategy, we work to safeguard groundwater resources through robust well integrity standards.

We seek to minimize risk through our wellbore designs, which are approved by regulatory agencies prior to drilling.

During drilling, we install impermeable steel pipes lined with cement so completions and production activities can occur within the encased wellbore without disrupting aquifers. We also utilize barrier protection near freshwater preserves to help protect water sources from surface runoff.

Preserving Biodiversity

We recognize the importance of preserving biodiversity and natural habitats in areas where we operate and work to minimize our adverse environmental impact and limit surface disturbance.

We strive to comply with federal, state and local regulations related to native and protected species of flora and fauna as part of our biodiversity efforts.

If a sensitive area or species, as classified by applicable law, is identified within or near our operations, we seek to implement the appropriate mitigation measures to protect it.

These plans could include:

Change in operating plans

Site restoration efforts

Special regulatory permitting

Relocation of the resource sensitivities according to local law

Managing Waste

Crescent strives to ensure compliance with federal and state regulations in managing our operational waste. Throughout the drilling and completion processes, we gather residuals - a blend of mud, cuttings, sand and fluids -and dispose of them in accordance with stringent state-specific regulations.

Crescent seeks to minimize impacts to disturbed sites by optimizing our footprint, drilling and reservoir development. We also have processes to deploy reclamation activities that meet regulatory and landowner expectations.

ABOUT STRATEGY GOVERNANCE SAFETY

ENVIRONMENT

SOCIAL APPENDIX

2024 Sustainability Report 20

Disclaimer

Crescent Energy Co. published this content on May 04, 2026, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 04, 2026 at 18:59 UTC.