Comstock Resources Inc.

(2) Free cash deficit from operations and free cash deficit after acquisitions are presented in the earnings release because management believes them to be useful indicators of the Company's ability to internally fund acquisitions and debt maturities after exploration and development capital expenditures, midstream and other capital expenditures, contributions from its midstream partner, proved and unproved property acquisitions, and proceeds from divestiture of natural gas and oil properties.

SEC original ↗Comstock Resources Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Significant Level 3 assumptions associated with the calculation of discounted future cash flows included in the cash flow model include management's outlook for natural gas and oil prices, production costs, capital expenditures, and future production as well as estimated proved natural gas and oil reserves and risk-adjusted probable natural gas and oil reserves.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

Significant Level 3 assumptions associated with the calculation of discounted future cash flows included in the cash flow model include management's outlook for future natural gas gathering and processing volumes, operation costs and capital expenditures and the expected future net cash flows are discounted at an appropriate rate to determine fair value.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

The Company is not required to provide any credit support to its counterparties other than cross collateralization with the assets securing its bank credit facility.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

(2) The carrying value of the Company's floating rate debt outstanding approximates fair value.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

(3) The fair value of the Company's fixed rate debt was based on quoted prices as of June 30, 2026 and December 31, 2025 , respectively, a Level 1 measurement.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

is a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas.

SEC original ↗Comstock Resources Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein.

SEC original ↗Comstock Resources Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Information concerning the assumptions, uncertainties and risks that may affect the actual results can be found in the Company's filings with the Securities and Exchange Commission ( SEC ) available on the Company's website or the SEC's website at sec.

SEC original ↗Comstock Resources Inc. — Earnings release (8-K exhibit)EX-99Jul 30, 2025

Legal Proceedings 27 Item 1A.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

federal and state net operating loss carryforwards that are not expected to be utilized due to the uncertainty of generating taxable income prior to the expiration of the carryforward periods.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

From time to time, the Company is involved in certain litigation that arises in the normal course of its operations.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026

Such forward-looking statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein.

SEC original ↗Comstock Resources Inc. — 10-Q Quarterly report10-QJul 30, 2026