GUARANTOR SUBSIDIARIES FINANCIAL INFORMATION:

The payment obligations under the $400,000, Term Loan B due in November 2022, less the $7.5 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 Three Months Ended March 31, 2018 (unaudited):



	Parent Issuer		Guarantor		CCR Non-Guarantor			Non-Guarantor			Elimination			Consolidated
Revenues and Other Income:
Coal Revenue	$	—	$	263,257	$	87,752		$	—		$	—		351,009
Terminal Revenue	—		15,221		—			—			—			15,221
Freight Revenue	—		13,415		4,472			—			—			17,887
Miscellaneous Other Income	90,304		11,018		2,201			—			(77,636		)	25,887
Gain on Sale of Assets	—		178		76			—			—			254
Total Revenue and Other Income	90,304		303,089		94,501			—			(77,636		)	410,258
Costs and Expenses:
Operating and Other Costs	—		176,820		52,287			695			—			229,802
Depreciation, Depletion and Amortization	—		38,657		10,814			—			—			49,471
Freight Expense	—		13,415		4,472			—			—			17,887
Selling, General and Administrative Costs	—		10,464		3,020			—			—			13,484
Loss on Debt Extinguishment	1,426		—		—			—			—			1,426
Interest Expense	20,285		944		(184		)	—			—			21,045
Total Costs And Expenses	21,711		240,300		70,409			695			—			333,115
Earnings Before Income Tax	68,593		62,789		24,092			(695		)	(77,636		)	77,143
Income Tax Expense	6,185		—					—			—			6,185
Net Income (Loss)	62,408		62,789		24,092			(695		)	(77,636		)	70,958
Less: Net Income Attributable to Noncontrolling Interest	—		—		—			—			8,550			8,550
Net Income (Loss) Attributable to CONSOL Energy Shareholders	$	62,408	$	62,789	$	24,092		$	(695	)	$	(86,186	)	$	62,408

Balance Sheet at March 31, 2018 (unaudited):



	Parent Issuer			Guarantor		CCR Non-Guarantor		Non-Guarantor		Elimination			Consolidated
Assets:
Current Assets:
Cash and Cash Equivalents	$	190,564		$	369	$	748	$	38	$	—		$	191,719
Accounts and Notes Receivable:
Trade	—			—		—		127,348		—			127,348
Other Receivables	14,645			16,283		1,431		—		—			32,359
Inventories	—			46,645		14,121		—		—			60,766
Prepaid Expenses	7,034			13,417		4,404		—		—			24,855
Total Current Assets	212,243			76,714		20,704		127,386		—			437,047
Property, Plant and Equipment:
Property, Plant and Equipment	—			3,802,245		919,878		—		—			4,722,123
Less-Accumulated Depreciation, Depletion and Amortization	—			2,106,017		493,758		—		—			2,599,775
Total Property, Plant and Equipment-Net	—			1,696,228		426,120		—		—			2,122,348
Other Assets:
Deferred Income Taxes	67,538			—		—		—		—			67,538
Affiliated Credit Facility	156,228			—		—		—		(156,228		)	—
Investment in Affiliates	682,407			—		—		—		(682,407		)	—
Other	40,642			46,858		14,683		—		—			102,183
Total Other Assets	946,815			46,858		14,683		—		(838,635		)	169,721
Total Assets	$	1,159,058		$	1,819,800	$	461,507	$	127,386	$	(838,635	)	$	2,729,116
Liabilities and Equity:
Current Liabilities:
Accounts Payable	$	10,521		$	54,070	$	17,872	$	8	$	2,220		$	84,691
Accounts Payable (Recoverable)-Related Parties	(2,291		)	36,221		—		122,298		(156,228		)	—
Current Portion of Long-Term Debt	—			16,568		1,818		—		—			18,386
Other Accrued Liabilities	106,974			136,810		43,527		—		(2,179		)	285,132
Total Current Liabilities	115,204			243,669		63,217		122,306		(156,187		)	388,209
Long-Term Debt:	728,107			134,462		159,996		—		(156,228		)	866,337
Deferred Credits and Other Liabilities:
Postretirement Benefits Other Than Pensions	—			549,244		—		—		—			549,244
Pneumoconiosis Benefits	—			146,336		4,205		—		—			150,541
Asset Retirement Obligations	—			221,975		9,808		—		—			231,783
Workers’ Compensation	—			62,827		3,453		—		—			66,280
Salary Retirement	48,361			—		—		—		—			48,361
Other	—			18,570		603		—		—			19,173
Total Deferred Credits and Other Liabilities	48,361			998,952		18,069		—		—			1,065,382
Total CONSOL Energy Inc. Stockholders’ Equity	267,386			442,717		220,225		5,080		(668,022		)	267,386
Noncontrolling Interest	—			—		—		—		141,802			141,802
Total Liabilities and Equity	$	1,159,058		$	1,819,800	$	461,507	$	127,386	$	(838,635	)	$	2,729,116

Condensed Statement of Cash Flows for the Three Months Ended March 31, 2018 (unaudited):



	Parent Issuer			Guarantor			CCR Non-Guarantor			Non-Guarantor		Elimination		Consolidated
Net Cash Provided by (Used in) Operating Activities	$	(2,305	)	$	88,774		$	29,264		$	—	$	—	$	115,733
Cash Flows from Investing Activities:
Capital Expenditures	—			(17,027		)	(4,929		)	—		—		(21,956		)
Proceeds From Sales of Assets	—			318			75			—		—		393
(Investments in), net of Distributions from, Equity Affiliates	(2,048		)	2,048			—			—		—		—
Net Cash (Used in) Provided by Investing Activities	(2,048		)	(14,661		)	(4,854		)	—		—		(21,563		)
Cash Flows from Financing Activities:
Payments on Capitalized Lease Obligations	—			(999		)	(367		)	—		—		(1,366		)
Affiliated Credit Facility	—			—			(9,583		)	—		9,583		—
Payments on PNC Term Loan A	(15,000		)	—			—			—		—		(15,000		)
Payments on PNC Term Loan B	(1,000		)	—			—			—		—		(1,000		)
Buyback of Second Lien Notes	(10,000		)	—			—			—		—		(10,000		)
Distributions to Noncontrolling Interest	—			—			(14,346		)	—		8,759		(5,587		)
Shares/Units Withheld for Taxes	—			(1,889		)	(899		)	—		—		(2,788		)
Intercompany Contributions/(Distributions)	72,317			(72,317		)	—			—		—		—
Spin Distribution to CNX Resources	(1,595		)	(16,639		)	—			—		—		(18,234		)
Repurchases of Common Stock	(1,285		)	—			—			—		—		(1,285		)
Debt-Related Financing Fees	(755		)	(415		)	—			—		—		(1,170		)
Net Cash (Used in) Provided by Financing Activities	$	42,682		$	(92,259	)	$	(25,195	)	$	—	$	18,342	$	(56,430	)

Statement of Comprehensive Income for the Three Months Ended March 31, 2018 (unaudited):



	Parent Issuer		Guarantor		CCR Non-Guarantor			Non- Guarantor			Elimination			Consolidated
Net (Loss) Income	$	62,408	$	62,789	$	24,092		$	(695	)	$	(77,636	)	$	70,958
Other Comprehensive (Loss) Income:
Net Actuarial Loss (Gain)	3,999		—		(2		)	—			—			3,997
Other Comprehensive (Loss) Income:	3,999		—		(2		)	—			—			3,997
Comprehensive (Loss) Income	66,407		62,789		24,090			(695		)	(77,636		)	74,955
Less: Comprehensive Income Attributable to Noncontrolling Interest	—		—		—			—			8,548			8,548
Comprehensive (Loss) Income Attributable to CONSOL Energy Inc. Shareholders	$	66,407	$	62,789	$	24,090		$	(695	)	$	(86,184	)	$	66,407

Income Statement for the Three Months Ended March 31, 2017 (unaudited):



	Parent Issuer		Guarantor		CCR Non-Guarantor			Non-Guarantor		Elimination			Consolidated
Revenues and Other Income:
Coal Revenue	$	—	$	237,336	$	79,112		$	—	$	—		$	316,448
Terminal Revenue	—		12,886		—			—		—			12,886
Freight Revenue	—		9,212		3,070			—		—			12,282
Miscellaneous Other Income	50,598		6,494		1,101			—		(35,543		)	22,650
Gain on Sale of Assets			7,958		(3		)	—		—			7,955
Total Revenue and Other Income	50,598		273,886		83,280			—		(35,543		)	372,221
Costs and Expenses:
Operating and Other Costs	—		180,111		49,883			—		—			229,994
Depreciation, Depletion and Amortization	—		42,472		10,521			—		—			52,993
Freight Expense	—		9,212		3,070			—		—			12,282
Selling, General and Administrative Costs	—		13,796		3,283			—		—			17,079
Loss on Debt Extinguishment	—		—		—			—		—			—
Interest Expense	211		1,354		2,457			—		—			4,022
Total Costs And Expenses	211		246,945		69,214			—		—			316,370
Earnings Before Income Tax	50,387		26,941		14,066			—		(35,543		)	55,851
Income Tax Expense	9,406							—		—			9,406
Net Income (Loss)	40,981		26,941		14,066			—		(35,543		)	46,445
Less: Net Income Attributable to Noncontrolling Interest	—		—		—			—		5,464			5,464
Net Income (Loss) Attributable to CONSOL Energy Shareholders	$	40,981	$	26,941	$	14,066		$	—	$	(41,007	)	$	40,981

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 Three Months Ended March 31, 2017 (unaudited):



	Parent Issuer			Guarantor			CCR Non-Guarantor			Non-Guarantor		Elimination		Consolidated
Net Cash Provided by (Used in) Operating Activities	$	(4,643	)	$	35,518		$	17,662		$	—	$	—	$	48,537
Cash Flows from Investing Activities:
Capital Expenditures	—			(6,991		)	(2,030		)	—		—		(9,021		)
Proceeds From Sales of Assets	—			9,709			—			—		—		9,709
(Investments in), net of Distributions from, Equity Affiliates	20,226			(20,226		)	—			—		—		—
Net Cash (Used in) Provided by Investing Activities	20,226			(17,508		)	(2,030		)	—		—		688
Cash Flows from Financing Activities:
Payments on Capitalized Lease Obligations	(896		)	922			(26		)	—		—		—
Net (Payments on) Proceeds from Revolver - MLP	—			—			(4,000		)	—		—		(4,000		)
Distributions to Noncontrolling Interest	—			—			(14,050		)	—		8,583		(5,467		)
Shares/Units Withheld for Taxes	—			—			(807		)	—		—		(807		)
Intercompany Contributions/(Distributions)	45,624			(45,624		)	—			—		—		—
Other Parent Net Distributions	(45,624		)	—			—			—		—		(45,624		)
Debt Issuance and Financing Fees	(7,995		)	7,995			—			—		—		—
Net Cash (Used in) Provided by Financing Activities	$	(8,891	)	$	(36,707	)	$	(18,883	)	$	—	$	8,583	$	(55,898	)

Statement of Comprehensive Income for the Three Months Ended March 31, 2017 (unaudited):



	Parent Issuer		Guarantor		CCR Non-Guarantor		Non- Guarantor		Elimination			Consolidated
Net (Loss) Income	$	40,981	$	26,941	$	14,066	$	—	$	(35,543	)	$	46,445
Other Comprehensive (Loss) Income:
Net Actuarial Loss (Gain)	3,414		—		39		—		(39		)	3,414
Other Comprehensive (Loss) Income:	3,414		—		39		—		(39		)	3,414
Comprehensive (Loss) Income	44,395		26,941		14,105		—		(35,582		)	49,859
Less: Comprehensive Income Attributable to Noncontrolling Interest	—		—		—		—		5,452			5,452
Comprehensive (Loss) Income Attributable to CONSOL Energy Inc. Shareholders	$	44,395	$	26,941	$	14,105	$	—	$	(41,034	)	$	44,407