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Berry Petroleum Co
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Q4 and FY 2023 Earnings Presentation
| Trem Smith | Page 3 of 11 |
May 02, 2024
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"Q4 and FY 2023 Earnings Presentation"
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Berry Corporation Overview A Western US Energy Company UT CA • Western U.S. independent upstream energy company focused on onshore, low geologic risk, low decline, long- lived conventional reserves: • San Joaquin Basin of California (Oil 100%) • Uinta Basin of Utah (Oil 65% & Gas 35%) • Operate leading Well Servicing & Abandonment business (C&J Well Services) in California, which contributed ~9% of our Adj. EBITDA 1 in 03 • Successful operations in California for over 100 years • California production benefits from Brent-influenced pricing dynamics • Conservative balance sheet leverage with ample liquidity and manageable contractual obligations NASDAQ: BRY HQ: Dallas, TX Website: bry.com Operational Metrics (03): Average Daily Production 5,400 boe/d Oil Production 3,500 bo/d (~93%) California Production 0,700 (~81% of total) 1 Non-GAAP financial measure; please see https://irbry.com/non-gaap-reconciliations-to-gaap for reconciliations to GAAP measures and additional important information 4Q 03 Results