Table of Contents Table of Contents 2 List of Tables 5 List of Figures 6 Company Snapshot 8 Key Information 8 Company Overview 8 Linn Energy, LLC, Valuation and Financial Data 9 Linn Energy, LLC, Share Price Performance 9 Share Price Performance, Q4, 2014-Q4, 2015 9 Linn Energy, LLC, Key Valuation Metrics 10 Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Linn Energy, LLC, Quarterly Results of Oil & Gas Operations Per boe Produced 11 Results of Oil & Gas Operations Per boe Produced, Q4, 2014-Q4, 2015 11 Results of Oil & Gas Operations Per boe Growth Rates, Q4, 2014-Q4, 2015 12 Linn Energy, LLC, Quarterly E&P Costs Trends 13 Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Linn Energy, LLC, Quarterly Production Trends 14 Linn Energy, LLC, Total Oil and Gas Production 14 Total Crude Oil and Natural Gas Production Trend, Q4, 2014-Q4, 2015 14 Total Crude Oil & Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 15 Linn Energy, LLC, Crude Oil Production 16 Total Crude Oil Production Trend, Q4, 2014-Q4, 2015 16 Crude Oil Production, By Country/Region, Q4, 2014-Q4, 2015 17 Linn Energy, LLC, Natural Gas Production 18 Total Natural Gas Production Trend, Q4, 2014-Q4, 2015 18 Natural Gas Production, By Country/Region, Q4, 2014-Q4, 2015 19 Linn Energy, LLC, Valuation and Financial Data, 2011-2015 20 Linn Energy, LLC, Share Price Performance, 2011-2015 20 Share Price Performance, 2011-2015 20 Key Valuation Metrics, 2011-2015 21 Linn Energy, LLC, Production and Reserves Trends 22 Total Oil and Gas, Reserves and Production 22 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 22 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 24 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 26 Crude Oil/Liquids Production and Reserve 27 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 27 Crude Oil Production and Reserves By Country/Region, 2011-2015 28 Crude Oil/Liquids Reserve Changes, 2011-2015 30 Natural Gas Production and Reserve 31 Natural Gas Production and Reserve Trend, 2011-2015 31 Natural Gas Production and Reserves, By Country/Region, 2011-2015 32 Natural Gas Reserve Changes, 2011-2015 34 Total Crude Oil and Natural Gas Reserves Life Index 35 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 35 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 36 Linn Energy, LLC, E&P Costs Trends 38 Allocation of the Upstream Capital Expenditure 38 Upstream Capital Expenditure, 2011-2015 38 Acquisition Costs By Country/Region, 2011-2015 39 Exploration and Development Costs, By Country/Region, 2011-2015 41 Oil and Gas Cost Per boe, US$/boe 43 Oil and Gas Cost Per boe, US$/boe, 2011-2015 43 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 45 Linn Energy, LLC, Reserve Replacement Ratio 47 Oil and Gas Production Replacement Ratio 47 Oil and Gas Production Replacement Ratio, 2011-2015 47 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 49 Linn Energy, LLC, Results of Oil & Gas Operations Trend 53 Oil and Gas Revenue and Expenses 53 Oil and Gas Revenue and Expenses, 2011-2015 53 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 54 Oil and Gas Revenue and Expenses, Per boe 59 Oil and Gas Revenue and Expenses, By boe, 2011-2015 59 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 60 Oil and Gas Performance Metrics 64 Linn Energy, LLC, Land Holdings and Well Data 65 Developed and Undeveloped Acreage 65 Gross and Net Developed and Undeveloped Acreage, 2011-2015 65 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 66 Well Statistics 69 Producible Oil and Gas Well, 2011-2015 69 Producible Oil and Gas Well, By Country/Region, 2011-2015 70 Exploration and Development Wells Drilled, 2011-2015 74 Recent Developments 75 Linn Energy, LLC - Recent Developments 75 Apr 15, 2016: LINN Energy Announces Payment Of Interest Due Under Certain Senior Notes; Provides Update On Strategic Alternatives Process; Enters Into Amendments To Credit Facilities 75 Mar 15, 2016: LINN Energy Announces Fourth Quarter And Full-Year 2015 Results; Announces 2016 Outlook 76 Feb 04, 2016: LINN Energy Announces Process To Explore Strategic Alternatives Related To Its Capital Structure 82 Nov 05, 2015: Linn Energy Announces Third Quarter 2015 Results 82 Sep 11, 2015: Boardwalk Pipeline, Columbia Pipeline, And Vanguard Natural Resources To Join The Alerian MLP Index And Alerian MLP Equal Weight Index 86 Aug 24, 2015: LINN Energy Announces Appointment of New Chief Financial Officer 86 Jul 30, 2015: LINN Energy Announces Second Quarter 2015 Results 87 Apr 29, 2015: LINN Energy Announces First Quarter 2015 Results 90 Mar 02, 2015: LINN Energy and LinnCo Announce Monthly Distribution And Dividend: Update March 2, 2015 93 Feb 19, 2015: LINN Energy Announces Fourth Quarter And Full-Year 2014 Results And 2015 Outlook 93 Appendix 99 Methodology 99 Coverage 99 Secondary Research 99 Primary Research 99 Data Information Sources 100 Company Source 100 SEC/Other Regulatory Filings 100 Other Sources 100 Expert Panel Validation 100 Data Definition 100 Oil and Gas Reserves 100 Units of Measure 101 About GlobalData 101 Disclosure 101 Disclaimer 101

List of Tables Table 1: Linn Energy, LLC, Key Facts 8 Table 2: Linn Energy, LLC, Share Price Performance, Q4, 2014-Q4, 2015 9 Table 3: Linn Energy, LLC, Key Valuation Metrics, Q4, 2014-Q4, 2015 10 Table 4: Linn Energy, LLC, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Table 5: Linn Energy, LLC, Results of Oil & Gas Operations Per boe Growth Rates, %, Q4, 2014-Q4, 2015 12 Table 6: Linn Energy, LLC, Upstream Capital Expenditure, Q4, 2014-Q4, 2015 13 Table 7: Linn Energy, LLC, Total Crude Oil and Natural Gas, Production, Q4, 2014-Q4, 2015 14 Table 8: Linn Energy, LLC, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Table 9: Linn Energy, LLC, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Table 10: Linn Energy, LLC, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Table 11: Linn Energy, LLC, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Table 12: Linn Energy, LLC, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Table 13: Linn Energy, LLC, Share Price Performance, 2011-2015 20 Table 14: Linn Energy, LLC, Key Valuation Metrics, 2011-2015 21 Table 15: Linn Energy, LLC, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 23 Table 16: Linn Energy, LLC, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 25 Table 17: Linn Energy, LLC, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 26 Table 18: Linn Energy, LLC, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Table 19: Linn Energy, LLC, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 29 Table 20: Linn Energy, LLC, Crude Oil Reserve Changes, mmbbl, 2011-2015 30 Table 21: Linn Energy, LLC, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Table 22: Linn Energy, LLC, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 33 Table 23: Linn Energy, LLC, Natural Gas Reserve Changes, bcf, 2011-2015 34 Table 24: Linn Energy, LLC, Oil and Gas Reserves Life Index, Years, 2011-2015 35 Table 25: Linn Energy, LLC, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 37 Table 26: Linn Energy, LLC, Upstream Capital Expenditure, US$ mil, 2011-2015 38 Table 27: Linn Energy, LLC, Proved and Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 40 Table 28: Linn Energy, LLC, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 42 Table 29: Linn Energy, LLC, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Table 30: Linn Energy, LLC, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 46 Table 31: Linn Energy, LLC, Oil and Gas Production Replacement Ratio, %, 2011-2015 47 Table 32: Linn Energy, LLC, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 52 Table 33: Linn Energy, LLC, Revenue and Expenses, US$ mil, 2011-2015 53 Table 34: Linn Energy, LLC, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 58 Table 35: Linn Energy, LLC, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59 Table 36: Linn Energy, LLC, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 63 Table 37: Linn Energy, LLC, Oil and Gas Performance Metrics, 2011-2015 64 Table 38: Linn Energy, LLC, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65 Table 39: Linn Energy, LLC, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 68 Table 40: Linn Energy, LLC, Producible Oil and Gas Wells, 2011-2015 69 Table 41: Linn Energy, LLC, Producible Oil and Gas Wells, By Country/Region, 2011-2015 73 Table 42: Linn Energy, LLC, Exploratory and Developed Wells, 2011-2015 74 List of Figures Figure 1: Linn Energy, LLC, Share Price Performance, USD/Share, Q4, 2014-Q4, 2015 9 Figure 2: Linn Energy, LLC, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve ($/boe), Q4, 2014-Q4, 2015 10 Figure 3: Linn Energy, LLC, Results of Oil & Gas Operations Per boe Produced, US$/boe, Q4, 2014-Q4, 2015 11 Figure 4: Linn Energy, LLC, Upstream Capital Expenditure, US$ mil, Q4, 2014-Q4, 2015 13 Figure 5: Linn Energy, LLC, Total Crude Oil and Natural Gas, Production, mmboe, Q4, 2014-Q4, 2015 14 Figure 6: Linn Energy, LLC, Total Oil & Gas Production, By Country/Region, mmboe, Q4, 2014-Q4, 2015 15 Figure 7: Linn Energy, LLC, Total Crude Oil Production, mmbbl, Q4, 2014-Q4, 2015 16 Figure 8: Linn Energy, LLC, Crude Oil Production, By Country/Region, mmbbl, Q4, 2014-Q4, 2015 17 Figure 9: Linn Energy, LLC, Total Natural Gas Production, bcf, Q4, 2014-Q4, 2015 18 Figure 10: Linn Energy, LLC, Natural Gas Production, By Country/Region, bcf, Q4, 2014-Q4, 2015 19 Figure 11: Linn Energy, LLC, Share Price Performance, USD/Share, 2011-2015 20 Figure 12: Linn Energy, LLC, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 21 Figure 13: Linn Energy, LLC, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 22 Figure 14: Linn Energy, LLC, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 24 Figure 15: Linn Energy, LLC, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 24 Figure 16: Linn Energy, LLC, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 26 Figure 17: Linn Energy, LLC, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 27 Figure 18: Linn Energy, LLC, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 28 Figure 19: Linn Energy, LLC, Oil Production, By Country/Region, mmbbl, 2011-2015 28 Figure 20: Linn Energy, LLC, Crude Oil Reserve Changes, mmbbl, 2015 30 Figure 21: Linn Energy, LLC, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 31 Figure 22: Linn Energy, LLC, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 32 Figure 23: Linn Energy, LLC, Gas Production, By Country/Region, bcf, 2011-2015 32 Figure 24: Linn Energy, LLC, Natural Gas Reserve Changes, bcf, 2015 34 Figure 25: Linn Energy, LLC, Oil and Gas Reserves Life Index, Years, 2011-2015 35 Figure 26: Linn Energy, LLC, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 27: Linn Energy, LLC, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 36 Figure 28: Linn Energy, LLC, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 37 Figure 29: Linn Energy, LLC, Upstream Capital Expenditure, US$ mil, 2011-2015 38 Figure 30: Linn Energy, LLC, Proved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 31: Linn Energy, LLC, Unproved Acquisition Costs, By Country/Region, US$ mil, 2011-2015 39 Figure 32: Linn Energy, LLC, Development Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 33: Linn Energy, LLC, Exploration Costs, By Country/Region, US$ mil, 2011-2015 41 Figure 34: Linn Energy, LLC, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 43 Figure 35: Linn Energy, LLC, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 36: Linn Energy, LLC, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 45 Figure 37: Linn Energy, LLC, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 46 Figure 38: Linn Energy, LLC, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 47 Figure 39: Linn Energy, LLC, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 49 Figure 40: Linn Energy, LLC, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 49 Figure 41: Linn Energy, LLC, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 50 Figure 42: Linn Energy, LLC, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 50 Figure 43: Linn Energy, LLC, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 51 Figure 44: Linn Energy, LLC, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 51 Figure 45: Linn Energy, LLC, Revenue and Expenses, US$ mil, 2011-2015 53 Figure 46: Linn Energy, LLC, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 54 Figure 47: Linn Energy, LLC, Exploration Expenses, By Country/Region, US$ mil, 2011-2015 54 Figure 48: Linn Energy, LLC, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 49: Linn Energy, LLC, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 55 Figure 50: Linn Energy, LLC, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 56 Figure 51: Linn Energy, LLC, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 56 Figure 52: Linn Energy, LLC, Production Costs, By Country/Region, US$ mil, 2011-2015 57 Figure 53: Linn Energy, LLC, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 57 Figure 54: Linn Energy, LLC, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 59 Figure 55: Linn Energy, LLC, Exploration Expenses per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 56: Linn Energy, LLC, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 60 Figure 57: Linn Energy, LLC, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 58: Linn Energy, LLC, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 61 Figure 59: Linn Energy, LLC, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 60: Linn Energy, LLC, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 62 Figure 61: Linn Energy, LLC, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 63 Figure 62: Linn Energy, LLC, Oil and Gas Performance Metrics, 2011-2015 64 Figure 63: Linn Energy, LLC, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 65 Figure 64: Linn Energy, LLC, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66 Figure 65: Linn Energy, LLC, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 66 Figure 66: Linn Energy, LLC, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 67 Figure 67: Linn Energy, LLC, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 67 Figure 68: Linn Energy, LLC, Producible Oil and Gas Wells, 2011-2015 69 Figure 69: Linn Energy, LLC, Gross Productive Gas Wells, By Country/Region, Number, 2011-2015 70 Figure 70: Linn Energy, LLC, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 70 Figure 71: Linn Energy, LLC, Gross Productive Oil Wells, By Country/Region, Number, 2011-2015 71 Figure 72: Linn Energy, LLC, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 71 Figure 73: Linn Energy, LLC, Net Productive Gas Wells, By Country/Region, Number, 2011-2015 72 Figure 74: Linn Energy, LLC, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 72 Figure 75: Linn Energy, LLC, Net Productive Oil Wells, By Country/Region, Number, 2011-2015 73 Figure 76: Linn Energy, LLC, Exploratory and Developed Wells, 2011-2015 74