Q3 2023 Earnings Presentation

Committed to Improving Financial Strength (1) Retired $242 million of debt in August 2023. Note: Net debt-to-EBITDAX is a non-GAAP measure. See Devon's third-quarter 2023 earnings materials for more details regarding non-GAAP disclosures. | Q3 2023 Earnings Presentation TOTAL LIQUIDITY CASH BALANCE $3.8B CASH & UNDRAWN CREDIT FACILITY $0.8B CASH POSITION AS OF 9/30/2023 LOW LEVERAGE 0.7x NET DEBT-TO-EBITDAX AS OF 9/30/2023 CREDIT RATINGS BBB/Baa2 INVESTMENT-GRADE AT S&P & MOODY'S DEBT REDUCTION NEW $1.5B SINCE MERGER CLOSE ON 1/7/2021 (1) TARGETED MATURITIES $1.0B DEBT EXPECTED TO RETIRE IN 2024 & 2025 13

View entire presentation