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Crescent Energy publishes its inaugural Environmental, Social and Governance (“ESG”) report and highlights its commitment to continuous ESG improvement and engagement
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Crescent Energy publishes its inaugural Environmental, Social and Governance (“ESG”) report and highlights its commitment to continuous ESG improvement and engagement

HOUSTON 22/12/2021–(BUSINESS WIRE)–Crescent Energy Company (“Crescent” or the “Company”) (NYSE: CRGY) today announced the publication of its inaugural Environmental, Social and Governance (“ESG”) Report. This report establishes Crescent’s immediate ESG priorities and provides a baseline for measuring the Company’s performance.

Highlights of the Inaugural ESG Report 2020

  • Establishes Crescent Energys ESG priorities:

    • Climate Change Work to reduce greenhouse gas emissions

    • To be a zero-incident workplace, we must strive for safety, health, and environmental protection

    • Water Management Manage fresh water usage and reduce it

    • Community Engagement Listen to and respond to concerns of the community and stakeholder

    • Diversity, Equity and Integration Develop a diverse workforce that is inclusive and equitable

  • Reports key ESG performance metrics according the Value Reporting Foundations SASB Standard For Oil & Gas Exploration & Production

  • Annual reporting on ESG performance

  • Announces the formation of an ESG Advisory Council to help the Company with its ESG strategy and efforts

  • Supported and supported by the broader KKR network

David Rockecharlie (CEO) commented that the release of our first ESG report is an important milestone for Crescent Energy, a newly formed company. It helps us set a vision for the future and establishes a baseline and common starting point from our legacy companies, Independence Energy and Contango Oil and Gas Company. It also reflects our commitment towards transparency by highlighting the priorities we have in the future for the new company.

He said, “We consider ourselves to be stewards for others assets: our investors capital and the environment in which we operate.” Our success depends on our ability and willingness to work with all stakeholders, including employees, investors, customers as well as suppliers. As we build the company, there is a chance to continually improve ESG performance, creating a net-benefit society and the environment, and driving returns for investors.

Please refer to the 2020 ESG Report of the Company for more information, including 2020 SASB-aligned performance measures.

ESG Advisory Council

Crescent’s goal is to create a company in which ESG is integrated into strategy, governance, and decision making. To continuously improve and maintain a leadership position in ESG performance, Crescent believes it is important that the Company seeks outside expertise and advice. Crescent created an ESG Advisory Council (“the Council”) in order to provide advice and guidance to management and Crescent’s board of directors regarding ESG-related matters. The Council is meant to provide honest, internal advice to Crescent Energy. Additional information about the Council’s members can be found in the report.

Building a Leading ESG Program by Leveraging the KKR Relationship

KKR, a global investment firm with over 45 years of experience in leadership, innovation, and investment excellence, provides management and executive leadership for Crescent. Crescent is focusing its efforts on developing industry-leading ESG programmes with the support of KKRs extensive experience in helping portfolio companies develop and implement ESG best practises. Crescent Energy is leveraging the network of KKR’s wider platform to partner with thought leaders to develop ESG-related benchmarks. These key performance indicators will be used to track, measure, and report ESG performance to company stakeholders.

More information on KKRs sustainable investment efforts can be found here

Crescent Energy

Crescent Energy is an independent, diversified energy company based in the United States. It has assets in key proven basins throughout the lower 48 states. Our core leadership team consists of industry professionals with extensive investment, financial, and industry experience who continue to implement the strategy we have used since 2011. The Company’s mission is to invest and manage energy assets, while ensuring better operations and stewardship.

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Cautionary Statement Concerning Forward-Looking information

This communication contains forward-looking statements as defined by Section 27A of Securities Act of 1933 and Section 21E of Securities Exchange Act of 1934, as modified. These statements are based upon current expectations. These statements reflect our current expectations. All statements in this communication, other than statements of historical fact that address activities or developments we expect, believe, anticipate, or plan to occur in the future, are forward-looking statements. These statements are subjected to a number assumptions, risks and uncertainties. Many of these factors are beyond our control. These risks and uncertainties include, among others, weather, political economic, and market conditions. This includes a decline in the market demand for natural gases, natural gas liquids, crude oil, and the impact of pandemics (such as COVID-19), actions by the Organization of the Petroleum Exporting Countries (“OPEC”) or non-OPEC oil producer countries, the timing of business developments, and other uncertainties. Therefore, future results may differ materially from what we expect. We do not have any obligation to revise or amend their forward-looking statements due to new information, future events, or other factors.

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Emily Newport, [email protected]

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