# EDGAR Filing Document

**Accession Number:** 0001866175
**File Stem:** 0001628280-25-054302
**Filing Date:** 2025-12
**Character Count:** 39452
**Document Hash:** 0373ffb8029b0ed31e5227ee880d9209
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-054302.hdr.sgml**: 20251201

**ACCESSION NUMBER**: 0001628280-25-054302

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251201

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251201

**DATE AS OF CHANGE**: 20251201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Crescent Energy Co
- **CENTRAL INDEX KEY:** 0001866175
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 871133610
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41132
- **FILM NUMBER:** 251537190

**BUSINESS ADDRESS:**
- **STREET 1:** 600 TRAVIS STREET
- **STREET 2:** SUITE 7200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002
- **BUSINESS PHONE:** 713-332-7001

**MAIL ADDRESS:**
- **STREET 1:** 600 TRAVIS STREET
- **STREET 2:** SUITE 7200
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77002

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** IE PubCo Inc.
- **DATE OF NAME CHANGE:** 20210607

?xml version='1.0' encoding='ASCII'? crgy-20251201

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **December 1, 2025**

**Crescent Energy Company**

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **001-41132** | **87-1133610** |
| (State or other jurisdiction<br>of incorporation) | (Commission <br>File Number) | (IRS Employer<br>Identification No.) |

---

**600 Travis Street, Suite 7200, Houston, Texas 77002**

(Address of principal executive offices, including zip code)

**(713) 332-7001**

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| **Class A Common Stock, par value $0.0001 per share** | **CRGY** | **The New York Stock Exchange** |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

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**Item 8.01.&nbsp;&nbsp;&nbsp;&nbsp;Other Events.**

***Exchange Offers and Consent Solicitations***

On December 1, 2025, Crescent Energy Company (the "Company") issued a press release announcing that its indirect subsidiary Crescent Energy Finance LLC ("CE Finance") has commenced (i) an offer to exchange (the "2029 Notes Exchange Offer") any and all 7.750% Senior Notes due 2029 (the "Existing Vital 2029 Notes") issued by Vital Energy, Inc. ("Vital") and held by certain eligible holders for up to $298,214,000 aggregate principal amount of new 7.750% Senior Notes due 2029 issued by CE Finance (the "New Crescent 2029 Notes") and (ii) an offer to exchange (the "2030 Notes Exchange Offer" and, together with the 2029 Notes Exchange Offer, the "Exchange Offers") any and all 9.750% Senior Notes due 2030 (the "Existing Vital 2030 Notes" and, together with the Existing Vital 2029 Notes, the "Existing Vital Notes") issued by Vital and held by certain eligible holders for up to $302,364,000 aggregate principal amount of new 9.750% Senior Notes due 2030 issued by CE Finance (the "New Crescent 2030 Notes" and, together with the New Crescent 2029 Notes, the "New Crescent Notes").

In conjunction with the Exchange Offers, CE Finance is soliciting consents (each, a "Consent") from certain eligible holders to adopt certain proposed amendments to each of the indentures governing the Existing Vital Notes, which, if adopted, would eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions currently contained therein (each, a "Consent Solicitation" and, collectively, the "Consent Solicitations"). If the Consent Threshold Condition is satisfied with respect to a series of Existing Vital Notes, all holders of Existing Vital Notes as of the Settlement Date will be paid $2.50 in cash for each $1,000 principal amount of Existing Vital Notes, subject to the other conditions set forth in CE Finance's Offering Memorandum and Consent Solicitation Statement, dated December 1, 2025 (the "offering memorandum and consent solicitation statement").

The Exchange Offers and the Consent Solicitations are being made solely pursuant to, and upon the terms and subject to the conditions set forth in, the offering memorandum and consent solicitation statement. The Exchange Offers are private offerings exempt from, or not subject to, registration under the Securities Act of 1933, as amended (the "Securities Act").

A copy of the press release announcing the Exchange Offers and Consent Solicitations is attached hereto as Exhibit 99.1.

**Item 9.01.&nbsp;&nbsp;&nbsp;&nbsp;Financial Statements and Exhibits.**

*(d) Exhibits.*

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press Release announcing the Exchange Offers and Consent Solicitations, dated December 1, 2025.](exhibit991-8xkx425dec.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

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**No Offer or Solicitation** 

This communication relates to a proposed business combination transaction (the "Transaction") between the Company and Vital. This communication is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, in any jurisdiction, pursuant to the Transaction or otherwise, nor shall there be any sale, issuance, exchange or transfer of the securities referred to in this document in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

**Important Additional Information About the Transaction** 

In connection with the Transaction, the Company filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission (the "SEC") (File No. 333-290422) that includes a joint proxy statement of the Company and Vital and a prospectus of the Company. The Transaction will be submitted to the Company's stockholders and

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Vital's stockholders for their consideration. The Company and Vital may also file other documents with the SEC regarding the Transaction. Mailing of the definitive joint proxy statement/prospectus to the stockholders of the Company and Vital was completed on November 18, 2025. This document is not a substitute for the registration statement and joint proxy statement/prospectus filed with the SEC or any other documents that the Company or Vital may file with the SEC or send to stockholders of the Company or Vital in connection with the Transaction. **INVESTORS AND SECURITY HOLDERS OF THE COMPANY AND VITAL ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS REGARDING THE TRANSACTION AND ALL OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND RELATED MATTERS.**

Investors and security holders can obtain free copies of the registration statement and the joint proxy statement/prospectus and all other documents filed or that will be filed with the SEC by the Company or Vital through the website maintained by the SEC at https://www.sec.gov. Copies of documents filed with the SEC by the Company are made available free of charge on the Company's website at **https://crescentenergyco.com/investors**, or by directing a request to Investor Relations, Crescent Energy Company, 600 Travis Street, Suite 7200, Houston, TX 77002, Tel. No. (713) 332-7001. Copies of documents filed with the SEC by Vital are made available free of charge on Vital's website at **https://vitalenergy.com** under the Investors tab or by directing a request to Investor Relations, Vital Energy, Inc., 521 E. Second Street, Suite 1000, Tulsa, OK 74120, Tel. No. (918) 513-4570.

**Participants in the Solicitation Regarding the Transaction** 

The Company and Vital and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect to the Transaction.

Information regarding the Company's executive officers and directors, including a description of their direct or indirect interests, by security holdings or otherwise, (i) is set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, including under Part III, Item 10. Directors, Executive Officers and Corporate Governance, Part III, Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters, and Part III, Item 13. Certain Relationships and Related Transactions, and Director Independence, which was filed with the SEC on February 26, 2025, and available at https://www.sec.gov/Archives/edgar/data/1866175/000186617525000024/crgy-20241231.htm and (ii) to the extent holdings of the Company's securities by its directors or executive officers have changed since the amounts set forth in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available at https://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001866175. You can obtain a free copy of these documents at the SEC's website at https://www.sec.gov or by accessing the Company's website at **https://www.crescentenergyco.com**.

Information regarding Vital's directors and executive officers, including a description of their direct or indirect interests, by security holdings or otherwise, (i) is set forth in Vital's definitive proxy statement for its 2025 Annual Meeting of Stockholders, including under the headings "Proposal One - Election of Three Class III Directors at the 2025 Annual Meeting", "Proposal Three - Advisory Vote Approving the Compensation of Our Named Executive Officers", "Stock Ownership Information", and "Related Party Transactions", which was filed with the SEC on April 10, 2025 and available at https://www.sec.gov/Archives/edgar/data/1528129/000152812925000071/vtle-20250409.htm and (ii) to the extent holdings of Vital's securities by the directors or executive officers have changed since the amounts set forth in Vital's definitive proxy statement for its 2025 Annual Meeting of Stockholders, such changes have been or will be reflected on Initial Statement of Beneficial Ownership of Securities on Form 3, Statement of Changes in Beneficial Ownership on Form 4, or Annual Statement of Changes in Beneficial Ownership on Form 5 filed with the SEC, which are available at https://www.sec.gov/cgi-bin/own-disp?action=getissuer&CIK=0001528129. You can obtain a free copy of these documents at the SEC's website at https://www.sec.gov or by accessing Vital's website at **https://www.vitalenergy.com**.

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Investors may obtain additional information regarding the interests of those persons and other persons who may be deemed participants in the Transaction by reading the joint proxy statement/prospectus regarding the Transaction. You may obtain free copies of this document as described above.

**Cautionary Statements Regarding Forward-Looking Statements** 

The foregoing contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that the Company or Vital expects, believes or anticipates will or may occur in the future are forward-looking statements. Words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "create," "intend," "could," "may," "foresee," "plan," "will," "guidance," "look," "outlook," "goal," "future," "assume," "forecast," "build," "focus," "work," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the Exchange Offers, the Consent Solicitations, the Transaction, the expected timing of completion of the Transaction, pro forma descriptions of the combined company and its operations, integration and transition plans, synergies, opportunities and anticipated future performance, the Company's ability to close the divestitures in a timely manner or at all, and any future outlooks of the Company. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. These include the expected timing and likelihood of completion of the Transaction or the divestitures, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the Transaction that could reduce anticipated benefits or cause the parties to abandon the Transaction, the expected timing and likelihood of the completion of the Exchange Offers and Consent Solicitations, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement, the possibility that stockholders of the Company may not approve the issuance of new shares of Class A common stock in the Transaction or that stockholders of Vital may not approve the Merger Agreement, the risk that the parties may not be able to satisfy the conditions to the Transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the Transaction, the risk that any announcements relating to the Transaction could have adverse effects on the market price of the Company's Class A common stock or Vital's common stock, the risk that the Transaction and its announcement could have an adverse effect on the ability of the Company and Vital to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, the risk the pending Transaction could distract management of both entities and they will incur substantial costs, the risk that problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected, the risk that the combined company may be unable to achieve synergies or it may take longer than expected to achieve those synergies and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond the Company's or Vital's control, including those detailed in the Company's annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K that are available on its website at https://www.crescentenergyco.com and on the SEC's website at https://www.sec.gov, and those detailed in Vital's annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K that are available on Vital's website at https://www.vitalenergy.com and on the SEC's website at https://www.sec.gov. The Company does not give any assurance (i) that it will achieve its expectations or (ii) to any business strategies, earnings or revenue trends or future financial results. All forward-looking statements are based on assumptions that the Company or Vital believe to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company and Vital undertake no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof.

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | **CRESCENT ENERGY COMPANY** | **CRESCENT ENERGY COMPANY** |
| Date: December 1, 2025 | By: | /s/ Bo Shi |
|  | Name: | Bo Shi |
|  | Title: | General Counsel and Corporate Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

![exhibit991a.jpg](exhibit991a.jpg)

**Crescent Energy Announces Exchange Offers and Consent Solicitations for**

**Vital Energy, Inc.'s 7.75% Senior Notes due 2029 and 9.750% Senior Notes due 2030**

**HOUSTON, December 1, 2025** – Crescent Energy Finance LLC ("CE Finance"), a wholly owned subsidiary of Crescent Energy Company (NYSE: CRGY) ("Crescent") announced today that it has commenced (i) an offer to exchange (the "2029 Notes Exchange Offer") any and all 7.75% Senior Notes due 2029 (the "Existing Vital 2029 Notes") issued by Vital Energy, Inc. ("Vital") that are held by Eligible Holders (as defined below) for up to $298,214,000 aggregate principal amount of new 7.75% Senior Notes due 2029 issued by CE Finance (the "New Crescent 2029 Notes") and (ii) an offer to exchange (the "2030 Notes Exchange Offer" and, together with the 2029 Notes Exchange Offer, the "Exchange Offers") any and all 9.750% Senior Notes due 2030 (the "Existing Vital 2030 Notes" and, together with the Existing Vital 2029 Notes, the "Existing Vital Notes") issued by Vital that are held by Eligible Holders for up to $302,364,000 aggregate principal amount of new 9.750% Senior Notes due 2030 issued by CE Finance (the "New Crescent 2030 Notes" and, together with the New Crescent 2029 Notes, the "New Crescent Notes").

In conjunction with the Exchange Offers, CE Finance is soliciting consents (each, a "Consent") from Eligible Holders to adopt certain proposed amendments (the "Proposed Amendments") to each of the indentures governing the Existing Vital Notes, which, if adopted, would eliminate substantially all of the restrictive covenants, certain events of default and certain other provisions currently contained therein (each, a "Consent Solicitation" and, collectively, the "Consent Solicitations").

The following table sets forth the Exchange Consideration and Total Exchange Consideration (each as defined in the Offering Memorandum and Consent Solicitation Statement, as defined herein) for each series of Existing Vital Notes:

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Title of Series of Existing Vital Notes** | **CUSIP/ISIN<br>Number** | **Issuer** | **Aggregate<br>Principal Amount<br>Outstanding** | **Exchange<br>Consideration**<sup>(1)</sup> | **Total Exchange<br>Consideration**<sup>(2)</sup> | **Consent Fee**<sup>(3)</sup> |
| 7.75% Senior Notes due 2029 | 144A: 516806AH9 / US516806AH93<br>Reg S: U51319AE8/ USU51319AE89 | Vital | $298214000 | $970 principal amount of new Crescent 7.75% Senior Notes due 2029 | $1,000 principal amount of new Crescent 7.75% Senior Notes due 2029 | $2.50 |
| 9.750% Senior Notes due 2030 | 516806AJ5 / US516806AJ59 | Vital | $302364000 | $970 principal amount of new Crescent 9.750% Senior Notes due 2030 | $1,000 principal amount of new Crescent 9.750% Senior Notes due 2030 | $2.50 |

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(1)&nbsp;&nbsp;&nbsp;&nbsp;For each $1,000 principal amount of the applicable Existing Vital Notes (as defined below) validly tendered after the Early Tender Date (as defined below) but at or before the Expiration Date (as defined below), not validly withdrawn and accepted for exchange.

(2)&nbsp;&nbsp;&nbsp;&nbsp;For each $1,000 principal amount of the applicable Existing Vital Notes validly tendered at or before the Early Tender Date, not validly withdrawn and accepted for exchange.

(3)&nbsp;&nbsp;&nbsp;&nbsp;If the Consent Threshold Condition (as defined in the Offering Memorandum and Consent Solicitation Statement) is satisfied with respect to a series of Existing Vital Notes, each holder of such series as of the Settlement Date will receive $2.50 in cash for each $1,000 principal amount of such applicable Existing Vital Notes held by such holder on the Settlement Date, subject to the other conditions set forth in the Offering Memorandum and Consent Solicitation Statement.

An Eligible Holder may not tender their Existing Vital Notes in an Exchange Offer without delivering their Consents and may not deliver their Consents without tendering their Existing Vital Notes. Each Eligible Holder who validly tenders (and does not validly withdraw) their Existing Vital Notes pursuant to an Exchange Offer will be

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deemed to have validly delivered their Consent in the corresponding Consent Solicitation with respect to the principal amount of such tendered Existing Vital Notes.

The Exchange Offers and Consent Solicitations are being made upon the terms and subject to the conditions set forth in the Offering Memorandum and Consent Solicitation Statement, dated December 1, 2025 (as it may be amended or supplemented from time to time, the "Offering Memorandum and Consent Solicitation Statement"). Each Exchange Offer and Consent Solicitation is conditioned upon the Consent Threshold Condition, the Vital Acquisition Condition and the General Conditions (each as defined in the Offering Memorandum and Consent Solicitation Statement), although CE Finance may waive any condition (other than the Vital Acquisition Condition) at any time with respect to an Exchange Offer and corresponding Consent Solicitation. Any waiver of a condition by CE Finance with respect to an Exchange Offer will automatically waive such condition with respect to the corresponding Consent Solicitation.

The Exchange Offers and Consent Solicitations will expire at 5:00 p.m., New York City time, on December 30, 2025, unless extended (such date and time, as the same may be extended, the "Expiration Date") or earlier terminated by CE Finance.

Eligible Holders who validly tender their Existing Vital Notes on or prior to 5:00 p.m., New York City time, on December 12, 2025, unless extended by CE Finance (such date and time, as the same may be extended, the "Early Tender Date"), will be eligible to receive, on the Settlement Date (as defined below), the applicable Total Exchange Consideration set forth in the table above for all such Existing Vital Notes that are accepted for exchange. Eligible Holders who validly tender their Existing Vital Notes after the Early Tender Date but on or prior to the Expiration Date will be eligible to receive, on the Settlement Date, the applicable Exchange Consideration set forth in the table above for all such Existing Vital Notes that are accepted for exchange.

If the Consent Threshold Condition is satisfied with respect to a series of Existing Vital Notes, each holder of such series of Existing Vital Notes as of the Settlement Date will be paid $2.50 in cash for each $1,000 principal amount of Existing Vital Notes held by such holder as of the Settlement Date (the "Consent Fee"), subject to the other conditions set forth in the Offering Memorandum and Consent Solicitation Statement. The Settlement Date will be a date that is promptly following the Expiration Date and is currently expected to be January 2, 2026, the second business day following the Expiration Date (the "Settlement Date").If the Vital Acquisition Condition has not been satisfied prior to the Expiration Date, CE Finance intends to extend the Expiration Date, without extending the Early Tender Date or the consent withdrawal deadline (unless required by law or unless CE Finance elects in its sole discretion to amend the Exchange Offers and the Consent Solicitations to allow further withdrawals) to have the Settlement Date substantially coincide with the consummation of Crescent's acquisition of Vital.

The maturity date, interest rate and interest payment dates of each New Crescent Note issued pursuant to the Exchange Offers will be identical to, and the optional redemption provisions with respect to the subject New Crescent Note will be substantially the same as those applicable to, the corresponding Existing Vital Note for which such New Crescent Note was exchanged. No accrued and unpaid interest will be payable upon acceptance of any Existing Vital Notes in the Exchange Offers and Consent Solicitations (other than accrued and unpaid interest payable with respect to any fractional portion of New Crescent Notes not delivered in consideration of minimum denomination requirements). However, the first interest payment on the New Crescent Notes will include the accrued and unpaid interest from the applicable Existing Vital Notes tendered in exchange therefor so that a tendering Eligible Holder will receive the same interest payment they would have received had their Existing Vital Notes not been tendered in the Exchange Offers and Consent Solicitations.

At any time at or before the Expiration Date, if CE Finance receives valid Consents from Eligible Holders sufficient to effect the Proposed Amendments with respect to the Existing Vital Notes of a subject series, Vital may execute and deliver on the date thereof or promptly thereafter a supplemental indenture containing the Proposed Amendments to the relevant Existing Vital Indenture, which will immediately become effective upon execution but will only become operative upon the exchange of all Existing Vital Notes of the subject series validly tendered and not validly withdrawn pursuant to the applicable Exchange Offer and the payment of the applicable Consent Fee with respect to such series to holders of Existing Vital Notes as of the Settlement Date, subject to the conditions set

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forth in the Offering Memorandum and Consent Solicitation Statement. As a result, once the supplemental indenture effecting the Proposed Amendments with respect to the subject series of Existing Vital Notes is executed, any subsequent withdrawal of a tender of Existing Vital Notes of such series will not revoke the Consent previously delivered by operation of such tender. If the Proposed Amendments become operative with respect to a series of Existing Vital Notes, the Proposed Amendments will be binding on all holders of such series of Existing Vital Notes who did not validly tender their Existing Vital Notes in an Exchange Offer. However, even if such supplemental indenture is executed, if all Existing Vital Notes of the subject series validly tendered and not validly withdrawn are not exchanged by CE Finance pursuant to the applicable Exchange Offer and the Consent Fee with respect to such series is not paid to all holders of such series of Existing Vital Notes as of the Settlement Date, such supplemental indenture will be of no force and effect until the applicable exchange consideration and Consent Fee is paid.

CE Finance, in its sole discretion, may modify or terminate any Exchange Offer and may extend the Early Tender Date (without extending the Withdrawal Deadline), the Expiration Date and/or the Settlement Date with respect to any Exchange Offer, subject to applicable law. Any such modification, termination or extension by CE Finance with respect to an Exchange Offer will automatically modify, terminate or extend the corresponding Consent Solicitation, as applicable.

The Exchange Offers are only being made, and the New Crescent Notes are only being offered and will only be issued, and copies of the Offering Memorandum and Consent Solicitation Statement and other related materials will only be made available, to holders of Existing Vital Notes who complete and return an eligibility form confirming, among other things, that they are either a "qualified institutional buyer" under Rule 144A or not a "U.S. person" and outside the United States under Regulation S for purposes of applicable securities laws (such a holder, an "Eligible Holder"). The eligibility form is available electronically at: <u>https://gbsc-usa.com/eligibility/crgy</u>.

Wells Fargo Securities, LLC is serving as the Dealer Manager for the Exchange Offers and as the Solicitation Agent for the Consent Solicitations. Any persons with questions regarding the Exchange Offers or the Consent Solicitations should contact the Dealer Manager by calling (866) 309-6316 (toll-free) or (704) 410-4235 (collect) or emailing liabilitymanagement@wellsfargo.com.

The Information Agent and Exchange Agent for the Exchange Offers and Consent Solicitations is Global Bondholder Services Corporation. Copies of the Offering Memorandum and Consent Solicitation Statement and materials related to the Exchange Offers or Consent Solicitations may be obtained from Global Bondholder Services Corporation by calling (212) 430-3774 (banks and brokers, collect) or (855) 654-2015 (all others, toll-free) or by emailing contact@gbsc-usa.com.

This news release is for informational purposes only. The Exchange Offers and Consent Solicitations are being made only pursuant to the Offering Memorandum and Consent Solicitation Statement, and the information in this news release is qualified by reference to the Offering Memorandum and Consent Solicitation Statement. Further, this news release does not constitute an offer to sell or the solicitation of an offer to buy the Existing Vital Notes, the New Crescent Notes or any other securities, nor does it constitute a notice of redemption for the Existing Vital Notes. No recommendation is made as to whether holders should tender any Existing Vital Notes in response to the Exchange Offers (and deliver Consents in response to the Consent Solicitations). Holders of Existing Vital Notes must make their own decision as to whether to participate in the Exchange Offers and Consent Solicitations and, if so, the principal amount of Existing Vital Notes to tender.

The New Crescent Notes offered in the Exchange Offers have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws. Therefore, the New Crescent Notes may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.

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**<u>About Crescent Energy Company</u>**

Crescent is a differentiated U.S. energy company committed to delivering value for shareholders through a disciplined growth through acquisition strategy and consistent return of capital. Crescent's long-life, balanced portfolio combines stable cash flows from low-decline production with deep, high-quality development inventory. Crescent's investing and operating activities are focused in Texas and the Rocky Mountain region. For additional information, please visit www.crescentenergyco.com.

**<u>Cautionary Statements Regarding Forward-Looking Statements</u>**

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations. The words and phrases "should," "could," "may," "will," "believe," "think," "plan," "intend," "expect," "potential," "possible," "anticipate," "estimate," "forecast," "view," "efforts," "target," "goal" and similar expressions identify forward-looking statements and express our expectations about future events. This communication includes statements regarding the Exchange Offers, the Consent Solicitations, the Vital Acquisition, pro forma descriptions of the combined company and its operations, integration and transition plans, synergies, opportunities, anticipated future performance, Crescent's ability to close the divestitures in a timely manner or at all, and future outlooks of Crescent that may contain forward-looking statements within the meaning of federal securities laws. We believe that our expectations are based on reasonable assumptions; however, no assurance can be given that such expectations will prove to be correct. A number of factors could cause actual results to differ materially from the expectations, anticipated results or other forward-looking information expressed in this communication, including the expected timing and likelihood of completion of the Vital Acquisition or the divestitures, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the Vital Acquisition that could reduce anticipated benefits or cause the parties to abandon the Vital Acquisition, the expected timing and likelihood of the completion of the Exchange Offers and Consent Solicitations, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstances that could give rise to the termination of the Merger Agreement (as defined in the Offering Memorandum and Consent Solicitation Statement), the possibility that stockholders of Crescent may not approve the issuance of new shares of Class A common stock in the Vital Acquisition or that stockholders of Vital may not approve the Merger Agreement, the risk that the parties may not be able to satisfy the conditions to the Vital Acquisition in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the Vital Acquisition, the risk that any announcements relating to the Vital Acquisition could have adverse effects on the market price of Crescent's Class A common stock or Vital's common stock, the risk that the Vital Acquisition and its announcement could have an adverse effect on the ability of Crescent and Vital to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, the risk the pending Vital Acquisition could distract management of both entities and they will incur substantial costs, the risk that problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected, the risk that the combined company may be unable to achieve synergies or it may take longer than expected to achieve those synergies and other important factors that could cause actual results to differ materially from those projected, weather, political and general economic conditions and events in the U.S. and in foreign oil producing companies, including the impact of inflation, elevated interest rates and associated changes in monetary policy; changes in tariffs, trade barriers, price and exchange controls and other regulatory requirements; federal and state regulations and laws, including the Inflation Reduction Act of 2022, taxes, tariffs and international trade, safety and the protection of the environment; the impact of disruptions in the capital markets; geopolitical events such as the armed conflict in Ukraine, the Israel-Hamas conflict and increased hostilities in the Middle East, including heightened tensions with Iran; actions by the Organization of the Petroleum Exporting Countries ("OPEC") and non-OPEC oil-producing countries, including the agreement by OPEC to phase out production cuts; the availability of drilling, completion and operating equipment and services; reliance on Crescent's external manager; commodity price volatility, the severity and duration of public health crises; and the risks associated with commodity pricing and Crescent's hedging strategy, the timing and success of business development efforts, including acquisition and disposition opportunities, our ability to integrate operations or realize any anticipated operational or corporate synergies and other benefits from recent acquisitions other than the Vital Acquisition.

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All statements, other than statements of historical facts, included in this communication that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, actual future results could differ materially from our expectations due to a number of factors, including, but not limited to, those items identified as such in the most recent Annual Report on Form 10-K and any subsequently filed Quarterly Reports on Form 10-Q and the risk factors described thereunder, filed by Crescent Energy Company with the U.S. Securities and Exchange Commission.

Many of such risks, uncertainties and assumptions are beyond our ability to control or predict. Because of these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements. We do not give any assurance (1) that we will achieve our expectations or (2) concerning any result or the timing thereof.

All subsequent written and oral forward-looking statements concerning this offering, the use of proceeds therefrom, Crescent and CE Finance or other matters and attributable thereto or to any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. We assume no duty to update or revise these forward-looking statements based on new information, future events or otherwise.

**Crescent Energy Investor Relations Contact**

IR@crescentenergyco.com

**Crescent Energy Media Contact**

Media@crescentenergyco.com

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