Private & Confidential Reconciliation of Adjusted EBITDA of Energy Segment to U.S. GAAP Net Loss (Unaudited) 15 RECONCILIATION OF ADJUSTED EBITDA OF ENERGY SEGMENT TO U.S. GAAP NET LOSS (UNAUDITED) ($ in Millions) 2016 2015 Reported net income (loss) - Energy segment 38.3$ (39.5)$ Interest expense 4.6 4.5 Depreciation, amortization and depletion 6.5 13.5 EBITDA - Energy segment 49.4 (21.5) Accretion of discount on asset retirement obligations 0.6 0.6 Impairments and bad debt expense 54.4 190.0 Gain on sale of oil and gas properties (105.6) - Gain on remeasurement of investment to fair value - (141.2) Non-recurring other operating items 1.0 1.0 Gain on derivative financial instruments (1.8) (18.7) Cash settlements on derivative financial instruments 8.3 2.4 Stock-based compensation expense - 0.3 Adjusted EBITDA - Energy segment 6.3$ 12.9$ Fiscal Quarter (a) a. For the three months ended December 31, 2015.
