Range Resources — Jul 21, 2026 release

  RANGE RESOURCES CORPORATION                                                                           RECONCILIATION OF INCOME BEFORE INCOME                                   TAXES AS REPORTED TO INCOME BEFORE INCOME TAXES                                 EXCLUDING CERTAIN ITEMS, a non-GAAP measure                                   (Unaudited, In thousands, except per share data)                                     Three Months Ended June 30,     Six Months Ended June 30,     2026     2025     %     2026     2025     %                                       Income from operations before income taxes, as reported $ 248,627     $ 302,042       -18 %   $ 681,788     $ 411,777       66 % Adjustment for certain special items:                                   Gain on the sale of assets   (23 )     (102 )           (29 )     (164 )       ARO settlement gain   -       (1 )           -       (1 )       Sale of seismic data   (360 )     -             (360 )     -         Change in fair value related to derivatives prior to settlement   (38,252 )   (123,281 )           (54,118 )     40,249         Abandonment and impairment of unproved properties   4,561       6,781             8,458       11,355         Loss (gain) on early extinguishment of debt   -       -             12,344       (3 )       Lawsuit settlements and other   657       63             930       90         Exit costs   9,569       8,502             16,519       17,399         Direct operating - stock-based compensation   518       504             1,064       1,041         Brokered natural gas, NGLs and marketing - stock-based compensation   717       802             1,601       1,642         Exploration expenses - stock-based compensation   386       366             720       713         General & administrative - stock-based compensation   10,471       9,326             21,096       19,437         Deferred compensation plan - non-cash adjustment   (1,756 )     (88 )           787       2,791                                             Income before income taxes, as adjusted   235,115       204,914       15 %     690,800       506,326       36 %                                     Income tax expense, as adjusted                                   Current   2,629       4,645             8,430       6,645         Deferred (a)   46,745       42,485             136,638       109,810                                             Net income, excluding certain items, a non-GAAP measure $ 185,741     $ 157,784       18 %   $ 545,732     $ 389,871       40 %                                     Non-GAAP income per common share                                   Basic $ 0.79     $ 0.66       20 %   $ 2.32     $ 1.63       42 % Diluted $ 0.79     $ 0.66       20 %   $ 2.31     $ 1.62       43 %                                     Non-GAAP diluted shares outstanding, if dilutive   236,210       239,717             236,348       240,772                                                                                                                                                                                             (a) Taxes are estimated to be approximately 21% for 2026 and 23% for 2025       RANGE RESOURCES CORPORATION                                                   RECONCILIATION OF NET INCOME, EXCLUDING                       CERTAIN ITEMS AND ADJUSTED EARNINGS PER                       SHARE, non-GAAP measures                       (In thousands, except per share data)                         Three Months Ended June 30,     Six Months Ended June 30,     2026     2025     2026     2025                           Net income, as reported $ 195,323     $ 237,578     $ 536,953     $ 334,630   Adjustments for certain special items:                       Gain on the sale of assets   (23 )     (102 )     (29 )     (164 ) ARO settlement gain   -       (1 )     -       (1 ) Sale of seismic data   (360 )