Range Resources — Jul 22, 2025 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,     2025     2024     %     2025     2024     %                                       Income from operations before income taxes, as reported $ 302,042     $ 10,010       2917 %   $ 411,777     $ 120,352       242 % Adjustment for certain special items:                                   Gain on the sale of assets   (102 )     (66 )           (164 )     (153 )       ARO settlement (gain) loss   (1 )     -             (1 )     26         Change in fair value related to derivatives prior to settlement   (123,281 )     111,249             40,249       187,024         Abandonment and impairment of unproved properties   6,781       1,524             11,355       3,895         Loss (gain) on early extinguishment of debt   -       (179 )           (3 )     (243 )       Lawsuit settlements   63       287             90       478         Exit costs   8,502       10,094             17,399       20,409         Brokered natural gas and marketing - stock-based compensation   802       583             1,642       1,291         Direct operating - stock-based compensation   504       471             1,041       968         Exploration expenses - stock-based compensation   366       335             713       659         General & administrative - stock-based compensation   9,326       8,482             19,437       18,460         Deferred compensation plan - non-cash adjustment   (88 )     1,240             2,791       7,645                                             Income before income taxes, as adjusted   204,914       144,030       42 %     506,326       360,811       40 %                                     Income tax expense, as adjusted                                   Current   4,645       2,399             6,645       3,981         Deferred (a)   42,485       30,728             109,810       79,006                                             Net income, excluding certain items, a non-GAAP measure $ 157,784     $ 110,903       42 %   $ 389,871     $ 277,824       40 %                                     Non-GAAP income per common share                                   Basic $ 0.66     $ 0.46       43 %   $ 1.63     $ 1.15       42 % Diluted $ 0.66     $ 0.46       43 %   $ 1.62     $ 1.14       42 %                                     Non-GAAP diluted shares outstanding, if dilutive   239,717       242,983             240,772       242,766                                                                                                                                                                                             (a) Taxes are estimated to be approximately 23% for 2024 and 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,     2025     2024     2025     2024                           Net income, as reported $ 237,578     $ 28,704     $ 334,630     $ 120,842   Adjustments for certain special items:                       Gain on the sale of assets   (102 )     (66 )     (164 )     (153 ) ARO settlement (gain) loss   (1 )