Our Focus On Sustainable Growth

Our industry, oil and gas exploration and production, is a cyclical commodity business. As companies in our industry have little control over the price received for our product, we believe oil and gas companies must be low cost operators in order to deliver sustainable growth. To achieve this, we have focused on acquiring acreage in plays that have the potential to be low on the cost curve. But having good assets only provides the foundation for delivering sustainable growth. A strong technical and operational team is also required to generate profitable, long-term growth for our shareholders, so we strive to make Carrizo a great place to work, where our employees can enjoy highly-rewarding careers and share in the success of the Company.

In addition to focusing on generating profitable, long-term growth for our shareholders, we are also committed to operating in a responsible and environmentally-sensitive manner. We strive to protect the health and safety of everyone who is part of our operations and those who live in the surrounding communities. At a minimum, it is our policy to comply with all applicable local, state, and federal regulations governing our business in order to protect the health and safety of the communities where we operate. We strive to work with our communities to minimize the impact of oil and gas development and ensure that they also benefit from our operations. Our goal is to instill a sense of community responsibility and high ethical standards for all our employees.

Environmental, Heath, and Safety

At Carrizo, we strive to deliver sustainable growth for our shareholders. In order to do this, we believe we must not only focus on the bottom line but also act as a good corporate citizen. Our Environmental, Healthy, and Safety (EH&S) department works to protect and improve the well-being of our employees, contractors, and the general public. We strive to prevent work-related injuries and believe environmental responsibility benefits not only Carrizo, but the community at large.

We are committed to an operating philosophy that provides our employees a safe work place while at the same time conducting operations in a manner that is environmentally sensitive and community aware. We promote this mission through training, continuing education, performance monitoring, and periodic auditing of our facilities and operations.

Our EH&S goals include:

Standardized Safety Training for internal employees and third-party contractors in order to maintain consistent safety expectations on all Carrizo leases.

Administration and oversight of environmental permits or programs in support of federal, state, or local requirements, some of which may be required by the Federal Clean Air Act, the Federal Clean Water Act, Occupational Safety and Health Act (OSHA), and Federal Department of Transportation Pipelines. Environmental programs also include remediation efforts in the event of spills or releases of emissions.

Daily field data input to support the requirements of Federal Greenhouse Gas reporting, the Texas Maintenance, Startup, and Shutdown (MSS) program, and other detailed records that must be gathered and maintained internally. EH&S works closely with field personnel regarding changes in operations or equipment, as well as any changes to regulatory requirements, that impact existing permits or authorizations.

Forward-Looking Statements
This sustainability report available on our Sustainability webpage or elsewhere on our website as well as all other statements on our website contains projections, future estimates, plans, expectations and other forward-looking statements, including information about sustainability, environmental, health and safety goals, plans policies, programs and initiatives. These statements reflect the Company’s views with respect to future events and the Company’s performance and operations as of the date such statements are made. No assurances can be given, however, that any projection, estimate, plan, policy, program or initiative expressed in any forward-looking statement will be achieved, and actual results may differ materially from those expected as a result of certain factors, including future regulations, operational risks , impact of current and future regulations, climate change, regulatory determinations, weather, commodity prices and dependence on exploratory activities and those described in risk factors and other sections of both the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission and the Company’s other filings with the Securities and Exchange Commission.