GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION:

The payment obligations under the $400,000, Term Loan B due in November 2022, less the $8 million of unamortized bond discount, the $300,000, 11.000% per annum senior notes due November 2025, and the $100,000, Term Loan A due in November 2021 issued by CONSOL Energy are jointly and severally, and also fully and unconditionally, guaranteed by certain subsidiaries of CONSOL Energy. In accordance with positions established by the SEC, the following financial information sets forth separate financial information with respect to the parent, guarantor subsidiaries, CCR, a non-guarantor subsidiary, and the remaining non-guarantor subsidiaries. The principal elimination entries include investments in subsidiaries and certain intercompany balances and transactions. CONSOL Energy, the parent, and a guarantor subsidiary manage several assets and liabilities of all other wholly owned subsidiaries. These include, for example, deferred tax assets, cash and other post-employment liabilities. These assets and liabilities are reflected as parent company or guarantor company amounts for purposes of this presentation.

Income Statement for the Year Ended December 31, 2017:



	Parent Issuer		Guarantor			CCR Non-Guarantor		Non-Guarantor			Elimination			Consolidated
Revenues and Other Income:
Coal Revenue	—		890,741			296,913		—			—			1,187,654
Terminal Revenue	—		60,066			—		—			—			60,066
Freight Revenue	—		55,269			18,423		—			—			73,692
Miscellaneous Other Income	238,818		67,230			6,049		—			(238,818		)	73,279
Gain on Sale of Assets	—		15,813			1,399		—			—			17,212
Total Revenue and Other Income	238,818		1,089,119			322,784		—			(238,818		)	1,411,903
Costs and Expenses:
Operating and Other Costs	—		691,451			194,986		272			—			886,709
Depreciation, Depletion and Amortization	—		130,565			41,437		—			—			172,002
Freight Expense	—		55,269			18,423		—			—			73,692
Selling, General and Administrative Costs	—		67,908			15,697		—			—			83,605
Loss on Debt Extinguishment	—		—			2,468		—			(2,468		)	—
Interest Expense	10,064		355,059			9,309		1,723			(350,057		)	26,098
Total Costs And Expenses	10,064		1,300,252			282,320		1,995			(352,525		)	1,242,106
Earnings Before Income Tax	228,754		(211,133		)	40,464		(1,995		)	113,707			169,797
Income Tax (Benefit) Expense	161,125		(73,897		)	—		—			—			87,228
Net (Loss) Income	67,629		(137,236		)	40,464		(1,995		)	113,707			82,569
Less: Net Income Attributable to Noncontrolling Interest	—		—			—		—			14,940			14,940
Net (Loss) Income Attributable to CONSOL Energy Shareholders	$	67,629	$	(137,236	)	$	40,464	$	(1,995	)	$	98,767		$	67,629

Balance Sheet at December 31, 2017:



	Parent Issuer			Guarantor		CCR Non-Guarantor		Non-Guarantor			Elimination			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	152,235		$	105	$	1,533	$	106		$	—		$	153,979
Accounts and Notes Receivable:
Trade	—			—		—		131,545			—			131,545
Other Receivables	17,702			16,880		1,970		—			—			36,552
Inventories	—			41,117		12,303		—			—			53,420
Prepaid Expenses	5,745			13,568		4,428		3			—			23,744
Total Current Assets	175,682			71,670		20,234		131,654			—			399,240
Property, Plant and Equipment:
Property, Plant and Equipment	—			3,765,885		910,468		—			—			4,676,353
Less-Accumulated Depreciation, Depletion and Amortization	—			2,070,646		483,410		—			—			2,554,056
Total Property, Plant and Equipment-Net	—			1,695,239		427,058		—			—			2,122,297
Other Assets:
Deferred Income Taxes	75,065			—		—		—			—			75,065
Affiliated Credit Facility	165,110			—		—		—			(165,110		)	—
Investment in Affiliates	645,157			—		—		—			(645,157		)	—
Other	44,177			50,846		15,474		—			—			110,497
Total Other Assets	929,509			50,846		15,474		—			(810,267		)	185,562
Total Assets	$	1,105,191		$	1,817,755	$	462,766	$	131,654		$	(810,267	)	$	2,707,099
Liabilities and Equity:
Current Liabilities:
Accounts Payable	$	20,014		$	66,271	$	22,789	$	8		$	18		$	109,100
Accounts Payable (Recoverable)-Related Parties	(2,291		)	36,221		—		129,139			(163,069		)	—
Current Portion of Long-Term Debt	—			22,405		77		—			—			22,482
Other Accrued Liabilities	101,994			149,425		44,102		(20		)	(4,874		)	290,627
Total Current Liabilities	119,717			274,322		66,968		129,127			(167,925		)	422,209
Long-Term Debt:	728,254			135,390		165,183		1,572			(165,110		)	865,289
Deferred Credits and Other Liabilities:
Postretirement Benefits Other Than Pensions	—			554,099		—		—			—			554,099
Pneumoconiosis Benefits	—			146,035		3,833		—			—			149,868
Asset Retirement Obligations	—			218,728		9,615		—			—			228,343
Workers’ Compensation	—			63,244		3,404		—			—			66,648
Salary Retirement	52,960			—		—		—			—			52,960
Other	—			23,435		607		—			—			24,042
Total Deferred Credits and Other Liabilities	52,960			1,005,541		17,459		—			—			1,075,960
Total CONSOL Energy Inc. Stockholders’ Equity	204,260			402,502		213,156		955			(616,613		)	204,260
Noncontrolling Interest	—			—		—		—			139,381			139,381
Total Liabilities and Equity	$	1,105,191		$	1,817,755	$	462,766	$	131,654		$	(810,267	)	$	2,707,099

Condensed Statement of Cash Flows for the Year Ended December 31, 2017:



	Parent Issuer			Guarantor			CCR Non-Guarantor			Non-Guarantor		Elimination			Consolidated
Net Cash Provided by (Used in) Operating Activities	$	(17,032	)	$	192,423		$	72,644		$	75	$	—		$	248,110
Cash Flows from Investing Activities:
Capital Expenditures	$	—		$	(61,917	)	$	(19,496	)	$	—	$	—		$	(81,413	)
Proceeds From Sales of Assets	—			23,082			1,500			—		—			24,582
Net Cash (Used in) Provided by Investing Activities	$	—		$	(38,835	)	$	(17,996	)	$	—	$	—		$	(56,831	)
Cash Flows from Financing Activities:
(Payments on) Proceeds from Miscellaneous Borrowings	(3,503		)	(305		)	(96		)	—		—			(3,904		)
Affiliated Credit Facility	—			—			196,583			—		(196,583		)	—
Proceeds from PNC Term Loan A	100,000			—			—			—		—			100,000
Proceeds from PNC Term Loan B	392,147			—			—			—		—			392,147
Proceeds from Second Lien Notes	300,000			—			—			—		—			300,000
Net (Payments on) Proceeds from Revolver - MLP	—			—			(201,000		)	—		—			(201,000		)
Distributions to Noncontrolling Interest	—			—			(56,400		)	—		34,508			(21,892		)
Units/Shares Withheld for Taxes	—			(171		)	(1,985		)	—		—			(2,156		)
Intercompany Contributions/(Distributions)	(5,573		)	(156,502		)						162,075			—
Change in Parent Net Investment	(156,502		)	—			—			—		—			(156,502		)
Spin Distribution to CNX Resources	(425,000		)	—			—			—		—			(425,000		)
Debt Issuance and Financing Fees	(32,304		)	—			—			—		—			(32,304		)
Net Cash (Used in) Provided by Financing Activities	$	169,265		$	(156,978	)	$	(62,898	)	$	—	$	—		$	(50,611	)

Statement of Comprehensive Income for the Year Ended December 31, 2017:



	Parent Issuer		Guarantor			CCR Non-Guarantor		Non- Guarantor			Elimination			Consolidated
Net (Loss) Income	$	67,629	$	(137,236	)	$	40,464	$	(1,995	)	$	113,707		$	82,569
Other Comprehensive (Loss) Income:
Amortization of Prior Service Credits	—		—			—		—			—			—
Settlement Loss	—		—			—		—			—			—
Net Actuarial Loss (Gain)	94,919		—			1,366		—			(1,366		)	94,919
Other Comprehensive (Loss) Income:	94,919		—			1,366		—			(1,366		)	94,919
Comprehensive (Loss) Income	162,548		(137,236		)	41,830		(1,995		)	112,341			177,488
Less: Comprehensive Income Attributable to Noncontrolling Interest	—		—			—		—			14,896			14,896
Comprehensive (Loss) Income Attributable to CONSOL Energy Inc. Shareholders	$	162,548	$	(137,236	)	$	41,830	$	(1,995	)	$	97,445		$	162,592

Income Statement for the Year Ended December 31, 2016:



	Parent Issuer		Guarantor		CCR Non-Guarantor			Non-Guarantor			Elimination			Consolidated
Revenues and Other Income:
Coal Revenue	—		799,187		266,395			—			—			1,065,582
Terminal Revenue	—		31,464		—			—			—			31,464
Freight Revenue	—		34,865		11,603			—			—			46,468
Miscellaneous Other Income	50,425		78,992		3,128			—			(50,425		)	82,120
Gain on Sale of Assets	—		5,237		(9		)	—			—			5,228
Total Revenue and Other Income	50,425		949,745		281,117			—			(50,425		)	1,230,862
Costs and Expenses:
Operating and Other Costs	—		694,073		183,001			103			—			877,177
Depreciation, Depletion and Amortization	—		136,128		41,994			—			—			178,122
Freight Expense	—		34,865		11,603			—			—			46,468
Selling, General and Administrative Costs	—		40,078		9,949			—			—			50,027
Interest Expense	190		5,144		8,719			—			—			14,053
Total Costs And Expenses	190		910,288		255,266			103			—			1,165,847
Earnings Before Income Tax	50,235		39,457		25,851			(103		)	(50,425		)	65,015
Income Tax (Benefit) Expense	8,739		5,826		—			—			—			14,565
Net (Loss) Income	41,496		33,631		25,851			(103		)	(50,425		)	50,450
Less: Net Income Attributable to Noncontrolling Interest	—		—		—			—			8,954			8,954
Net (Loss) Income Attributable to CONSOL Energy Shareholders	$	41,496	$	33,631	$	25,851		$	(103	)	$	(59,379	)	$	41,496

Balance Sheet at December 31, 2016:



	Parent Issuer		Guarantor			CCR Non-Guarantor			Non-Guarantor		Elimination			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	2	$	3,493		$	9,785		$	31	$	—		$	13,311
Accounts and Notes Receivable:
Trade	—		—			—			95,707		—			95,707
Other Receivables	3,654		19,151			515			—		—			23,320
Other Receivables - Related Party	—		—			—			34		—			34
Inventories	—		38,670			11,491			—		—			50,161
Prepaid Expenses	2,882		11,204			3,512			3		—			17,601
Total Current Assets	6,538		72,518			25,303			95,775		—			200,134
Property, Plant and Equipment:
Property, Plant and Equipment	—		3,716,705			876,690			—		—			4,593,395
Less-Accumulated Depreciation, Depletion and Amortization	—		1,970,947			442,178			—		—			2,413,125
Total Property, Plant and Equipment-Net	—		1,745,758			434,512			—		—			2,180,270
Other Assets:
Deferred Income Taxes	184,579		—			—			—		—			184,579
Investment in Affiliates	654,144		—			—			—		(654,144		)	—
Other	34,482		66,906			21,063			—		—			122,451
Total Other Assets	873,205		66,906			21,063			—		(654,144		)	307,030
Total Assets	$	879,743	$	1,885,182		$	480,878		$	95,775	$	(654,144	)	$	2,687,434
Liabilities and Equity:
Current Liabilities:
Accounts Payable	$	4,411	$	59,624		$	20,463		$	7	$	(1,608	)	$	82,897
Accounts Payable (Recoverable)-Related Parties	—		(72,289		)	(23,418		)	95,707		—			—
Current Portion of Long-Term Debt	3,347		641			88			—		—			4,076
Other Accrued Liabilities	102,878		145,072			44,230			—		(59		)	292,121
Total Current Liabilities	110,636		133,048			41,363			95,714		(1,667		)	379,094
Long-Term Debt:
Long-Term Debt	11,604		104,046			197,989			—		—			313,639
Total Long-Term Debt	11,604		104,046			197,989			—		—			313,639
Deferred Credits and Other Liabilities:
Postretirement Benefits Other Than Pensions	—		659,474			—			—		—			659,474
Pneumoconiosis Benefits	—		106,016			2,057			—		—			108,073
Asset Retirement Obligations	—		236,933			9,346			—		—			246,279
Workers’ Compensation	—		62,842			3,090			—		—			65,932
Salary Retirement	99,872		—			—			—		—			99,872
Other	—		14,484			463			—		—			14,947
Total Deferred Credits and Other Liabilities	99,872		1,079,749			14,956			—		—			1,194,577
Total CONSOL Energy Inc. Stockholders’ Equity	657,631		568,339			226,570			61		(794,970		)	657,631
Noncontrolling Interest	—		—			—			—		142,493			142,493
Total Liabilities and Equity	$	879,743	$	1,885,182		$	480,878		$	95,775	$	(654,144	)	$	2,687,434

Condensed Statement of Cash Flows for the Year Ended December 31, 2016:



	Parent Issuer			Guarantor			CCR Non-Guarantor			Non-Guarantor		Elimination		Consolidated
Net Cash (Used in) Provided by Operating Activities	$	253		$	255,756		$	73,098		$	—	$	—	$	329,107
Cash Flows from Investing Activities:
Capital Expenditures	$	—		$	(40,896	)	$	(12,704	)	$	—	$	—	$	(53,600	)
Proceeds From Sales of Assets	—			7,819			23			—		—		7,842
Net Cash Used in Investing Activities	$	—		$	(33,077	)	$	(12,681	)	$	—	$	—	$	(45,758	)
Cash Flows from Financing Activities:
(Payments on) Proceeds from Miscellaneous Borrowings	231			279			(79		)	—		—		431
Net (Payments on) Proceeds from Revolver - MLP	—			—			16,000			—		—		16,000
Distributions to Noncontrolling Interest	—			(21,657		)	(42,634		)	—		42,634		(21,657		)
Intercompany Contributions (Distributions)	270,969			(270,969		)	—			—		—		—
Change in Parent Net Investment	(270,969		)	—			—			—		—		(270,969		)
Debt Issuance and Financing Fees	(482		)	—			—			—		—		(482		)
Net Cash Provided by (Used in) Financing Activities	$	(251	)	$	(292,347	)	$	(26,713	)	$	—	$	42,634	$	(276,677	)

Statement of Comprehensive Income for the Year Ended December 31, 2016:



	Parent Issuer			Guarantor		CCR Non-Guarantor		Non- Guarantor			Elimination			Consolidated
Net (Loss) Income	$	41,496		$	33,631	$	25,851	$	(103	)	$	(50,425	)	$	50,450
Other Comprehensive (Loss) Income:
Net Actuarial Loss (Gain)	(31,409		)	—		818		—			(818		)	(31,409		)
Other Comprehensive (Loss) Income:	(31,409		)	—		818		—			(818		)	(31,409		)
Comprehensive (Loss) Income	10,087			33,631		26,669		(103		)	(51,243		)	19,041
Less: Comprehensive Income Attributable to Noncontrolling Interest	—			—		—		—			9,216			9,216
Comprehensive (Loss) Income Attributable to CONSOL Energy Inc. Shareholders	$	10,087		$	33,631	$	26,669	$	(103	)	$	(60,459	)	$	9,825

Income Statement for the Year Ended December 31, 2015:



	Parent Issuer			Guarantor			CCR Non-Guarantors		Non-Guarantor		Elimination			Consolidated
Revenues and Other Income:
Coal Revenue	—			966,775			322,261		—		—			1,289,036
Terminal Revenue	(11		)	30,978			—		—		—			30,967
Freight Revenue	—			16,690			3,809		—		—			20,499
Miscellaneous Other Income	371,266			62,484			941		4,768		(371,266		)	68,193
Gain (Loss) on Sale of Assets	—			13,025			—		—		—			13,025
Total Revenue and Other Income	371,255			1,089,952			327,011		4,768		(371,266		)	1,421,720
Costs and Expenses:
Operating and Other Costs	—			505,057			193,961		576		—			699,594
Depreciation, Depletion and Amortization	—			151,201			44,136		—		—			195,337
Freight Expense	—			16,690			3,809		—		—			20,499
Selling, General and Administrative Costs	—			44,789			10,931		—		—			55,720
Interest Expense	(1,071		)	(1,021		)	9,636		—		—			7,544
Total Costs And Expenses	(1,071		)	716,716			262,473		576		—			978,694
Earnings (Loss) Before Income Tax	372,326			373,236			64,538		4,192		(371,266		)	443,026
Income Tax (Benefit) Expense	65,315			60,290					—		—			125,605
Less: Net Income Attributable to Noncontrolling Interest	—			—			—		—		10,410			10,410
Net Income (Loss) Attributable to CONSOL Energy Shareholders	$	307,011		$	312,946		$	64,538	$	4,192	$	(381,676	)	$	307,011

Condensed Statement of Cash Flows for the Year Ended December 31, 2015:



	Parent Issuer			Guarantor			CCR Non-Guarantors			Non-Guarantor		Elimination		Consolidated
Net Cash (Used in) Provided by Operating Activities	$	12,608		$	202,177		$	76,908		$	—	$	—	$	291,693
Cash Flows from Investing Activities:
Capital Expenditures	$	—		$	(108,980	)	$	(34,073	)	$	—	$	—	$	(143,053	)
Proceeds From Sales of Assets	—			12,708			71			—		—		12,779
Net Cash Provided by (Used in) Investing Activities	$	—		$	(96,272	)	$	(34,002	)	$	—	$	—	$	(130,274	)
Cash Flows from Financing Activities:
(Payments on) Proceeds from Miscellaneous Borrowings	(600		)	(5,176		)	(53		)	—		—		(5,829		)
Proceeds from Related Party Long-Term Notes	—			(6,039		)	6,039			—		—		—
Net (Payments on) Proceeds from Revolver - MLP	—			—			185,000			—		—		185,000
Distributions to Noncontrolling Interest	—			(5,060		)	(11,353		)	—		11,353		(5,060		)
Proceeds from Sale of MLP Interest	—			—			148,359			—		—		148,359
Intercompany Contributions (Distributions)	461,051			(461,051		)	—			—		—		—
Distribution of Proceeds	—			342,711			(342,711		)	—		—		—
Change in Parent Net Investment	(461,051		)	17,328			(17,328		)	—		—		(461,051		)
Debt Issuance and Financing Fees	(12,007		)	—			(4,329		)	—		—		(16,336		)
Net Cash (Used in) Provided by Financing Activities	$	(12,607	)	$	(117,287	)	$	(36,376	)	$	—	$	11,353	$	(154,917	)

Statement of Comprehensive Income for the Year Ended December 31, 2015:



	Parent Issuer			Guarantor		CCR Non-Guarantors			Non- Guarantor		Elimination			Consolidated
Net Income (Loss)	$	307,011		$	312,946	$	64,538		$	4,192	$	(371,266	)	$	317,421
Other Comprehensive Income (Loss):
Net Actuarial Loss (Gain)	(89,442		)	—		(1,840		)	—		1,840			(89,442		)
Other Comprehensive Income (Loss):	(89,442		)	—		(1,840		)	—		1,840			(89,442		)
Comprehensive Income (Loss)	217,569			312,946		62,698			4,192		(369,426		)	227,979
Less: Comprehensive Income Attributable to Noncontrolling Interest	—			—		—			—		10,410			10,410
Comprehensive Income (Loss) Attributable to CONSOL Energy Inc. Shareholders	$	217,569		$	312,946	$	62,698		$	4,192	$	(379,836	)	$	217,569