Q3 2023 Earnings Presentation

Key Takeaways From Our Presentation 1 2 3 4 5 FIXED + VARIABLE DIVIDEND INCREASED 57% Total dividend of $0.77 per share announced with Q3 results PRODUCTION PER SHARE EXPANDS 10% IN Q3 Delaware Basin results headline Q3 operating performance FREE CASH FLOW GENERATION ACCELERATES >2x improvement in free cash flow to $843 million (vs. Q2 2023) IMPROVED CAPITAL EFFICIENCY OUTLOOK IN 2024 Expect lower capital spending & higher free cash flow generation BALANCE SHEET CONTINUES TO STRENGTHEN Retired debt & maintained low leverage profile of 0.7x (as of 9/30/23) Q3 2023 Earnings Presentation 2

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