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California Resources Corp | Q2 2025 Earnings Presentation | Mark Smith | Page 15 of 11 | August 31, 2025

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toolButton prevButton nextButton prevKeyButton nextKeyButton prevKeyButton nextKeyButton byDateAscButton byDateDescButton byCompanyNameAscButton byCompanyNameDescButton hidden hidden		Document: "Q2 2025 Earnings Presentation" View Full Document		× Search Selection Search by Text Search Search by Slide Search Cross reference your docFinder results against PLS' extensive news archives. For demo or training contact Melwyn Oommen, melwyn.oommen@drillinginfo.com
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Unique California Based Pure–Play Footprint Superior Portfolio Characteristics ? Strategic Acreage Footprint: Advantaged position in key California basins provides capital deployment flexibility ? High-Quality, Low-Decline Assets: Conventional reservoirs with low capital intensity and stable production ? Robust Development Inventory: Diverse recovery methods (primary, secondary, tertiary) support long-term production ? Ready for Growth: Ability to accretively grow volumes as permits become available ? Superior Economics: High net revenue interest (NRI) drives stronger margins and value capture CRC has a 97% WI with 91% NRI Durable 1P Asset Inventory 1 PDP (%) Total Proved (MMBOE) Oil (%) Est. Annual PDP Decline (%) 4Q24 Net Production (MBOE/D) R/P 2 (Years) Recovery Factor (%) Surface Acreage (‘000) Mineral Acreage (‘000) NRI (%) San Joaquin Basin 83% 441 78% ~12% 112 11 ~31% 190 1,277 ~96% Los Angeles Basin 95% 78 99% ~8% 17 13 ~36% <1 35 ~69% Sacramento Basin 66% 3 0% ~9% 2 4 ~59% <1 421 ~86% Other Basins 95% 23 95% ~12% 10 6 ~27% 3 130 ~86% Total 85% 545 81% ~11% 141 11 ~32% 193 1,863 ~91% 50% 75% 100% CRC HPK BRY REI FANG SM PR CIVI REPX MGY MTDR CRC’s WI vs Peers 3 Working Interest (%) B C D E F G H I A J Other E&P Peers