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Investor Presentaiton

Avg. Days Expected to Deliver Best in Class Execution World Class Resource Low Cost Operations Permian Leader The Must-Own Permian Pure Play Financial Strength Midland Basin Avg. Drilling Days to Total Depth by Year 2019 ◆ 2020 ◆ 2021 ◆ 2022 ◆ 2023 24 ~40% Reduction 2262% 4 20 16 12 0 0 2 4 20 60 6 8 10 12 14 Depth (1,000's of Ft.) 16 18 20 22 24 24 26 from 2019-2023 Organizational culture focused on operational efficiency continues to deliver consistent, and meaningful, cycle time reductions year over year Realized reductions in drilling cycle time of over 40% since 2019 Intense focus on the details, contributing to incremental improvement on a large scale basis Scalable, proven operating model poised to deliver best in class results over larger Midland asset footprint Midland Basin SimulFRAC Completion Efficiency ■Avg. Ft. / Day Avg. Proppant / Day (1,000's) ~3,000' ~2,700' ~2,500' ~1,500' ~5,700 ~2,800 ~5,200 ~4,700 2023 2022 SimulFRAC used on ~90% of wells Zipper Frac 2021 2019-2021 Avg. Implementation of SimulFRAC completions has been a step change in completion cycle time, and will provide upside to current Endeavor D&C SimulFRAC, along with Diamondback's cultural focus on operational efficiency, has led to a doubling of completion lateral feet per day per crew since 2019 Diamondback's commitment to operational excellence, and proven ability to integrate and execute, will provide investors with unparalleled opportunity in the Midland Basin Diamondback has built a scalable, low cost operating model ready to deliver on the pro forma Source: Company data and estimates as of 11/3/2023. 9 asset DIAMONDBACK ENERGY
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