Investor Presentaiton

Compelling Alternative for Yield-Seeking Investors Historically low interest-rate environment has compressed yields across most asset classes 14% 12% 10% 8% 6% 4% 2% 10-YEAR U.S. TREASURY YIELD S&P 500 DIVIDEND YIELD ADVANTAGED YIELD OPPORTUNITY UP TO 6× HIGHER VERSUS BROADER MARKET DEVON'S 2022E DIVIDEND (~8% YIELD) T 1982 1987 1992 1997 2002 2007 2012 = UNDERPINNED BY HIGH-QUALITY & SUSTAINABLE PORTFOLIO Q1 2022 Earnings Presentation 2017 2022 DEVON PROVIDES A UNIQUE SOLUTION Market yields have declined by up to 80% since 1981 Bonds positioned for negative returns after inflation Devon offers both attractive yield & growth potential 19

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