www.ariswater.com<\/a>.\n<\/p>\nForward Looking Statements<\/i><\/b><\/p>\n
\nThis press release contains \u201cforward-looking statements\u201d within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Examples of forward-looking statements include, but are not limited to, those regarding the Company\u2019s future volumes, volumes, margins and cost structure and the Company\u2019s future business and financial performance. In some cases, you can identify forward-looking statements by terminology such as \u201cguidance,\u201d \u201cestimate,\u201d \u201coutlook,\u201d \u201cexpect,\u201d \u201ccontinue,\u201d \u201cwill,\u201d \u201cintend,\u201d \u201cmay,\u201d \u201cand variations of such words or similar expressions. Forward-looking statements are based on the Company\u2019s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company\u2019s actual results may differ materially from those contemplated by the forward-looking statements. Factors that could cause the Company\u2019s actual results to differ materially from the results contemplated by such forward-looking statements include, but are not limited to the risk factors discussed or referenced in its filings made from time to time with the U.S. Securities and Exchange Commission (\u201cSEC\u201d). Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof. Factors or events that could cause the Company\u2019s actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.\n<\/p>\n
\nAris has prepared the preliminary unaudited financial data for the fourth quarter and full year of 2022 presented in this press release based on the most current information available to management. Aris’s normal financial reporting processes with respect to this preliminary financial data have not been fully completed, and thus actual financial results could be different from this preliminary financial data, and any differences could be material. Financial and operating results for the fourth quarter and full year 2022 are preliminary and will not be finalized until filed with the SEC in our annual report on Form 10-K. We have not yet obtained or published the verification assurance report relative to the sustainability performance target and related information as required by our sustainable-linked bond framework. Information regarding our sustainability-linked bond KPI is based on preliminary unaudited information and management estimates for the full year ended December 31, 2022. Because it has not yet been verified independently, our final results upon completion of our verification process may vary from the preliminary estimates. You are cautioned not to place undue reliance on any estimates of results included in this release.\n<\/p>\n
Non-GAAP Financial Information<\/b><\/p>\n
\nThe Company uses financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (\u201cGAAP\u201d), including Adjusted EBITDA. Although this Non-GAAP financial measure is an important factor in assessing the Company\u2019s operating results and cash flows, it should not be considered in isolation or as a substitute for net income.\n<\/p>\n
\nThe Company calculates Adjusted EBITDA as net income (loss) plus: interest expense; income taxes; depreciation, amortization and accretion expense; abandoned well costs; asset impairments and abandoned project charges; losses on the sale and\/or exchange of assets; loss on debt modification; stock-based compensation expense; research and development expenses; and other non-recurring or unusual expenses or charges (including temporary power costs), less any gains on sale and\/or exchange of assets.\n<\/p>\n
\nThe Company believes the presentation of Adjusted EBITDA is used by investors and professional research analysts for the valuation, comparison, rating, and investment recommendations of companies within its industry. Similarly, the Company\u2019s management uses this information for comparative purposes as well. Adjusted EBITDA is not a measure of financial performance under GAAP and should not be considered as a measure of liquidity or as an alternative to net income (loss). Additionally, the presentation of Adjusted EBITDA as defined by the Company may not be comparable to similarly titled measures used by other companies and should be considered in conjunction with net income (loss) and other measures prepared in accordance with GAAP, such as net income.\n<\/p>\n
\nThe following table sets forth a reconciliation of estimated Adjusted EBITDA to estimated net income, which is the most directly comparable measure of financial performance calculated in accordance with GAAP.\n<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20230201006064\/en\/1703295\/3\/ARIS_Logo_-_No_R.jpg\"){kind=logo}
<\/td>\n<\/tr>\n