Q3 2023 Earnings Presentation

Strategy Creating Significant Value for Shareholders Delivering on our promise to shareholders Cumulative uses of cash since WPX merger ($ in billions) ✓ Strategy designed for sustainable free cash flow generation Industry-first cash-return framework unveiled in 2020 ✓ Flexibility to optimize value creation through the cycle devon + WPXENERGY $5.9 BILLION VALUATION (1) 2020 $1.2 1H 2021 (1) Combined market capitalization for Devon and WPX on 9/28/2020. | Q3 2023 Earnings Presentation $3.1 $5.2 $9.8 2H 2021 1H 2022 2H 2022 2023 YTD $12 BILLION SINCE LATE 2020 (2-TIMES MERGER VALUATION) Acquisitions Debt Reduction Share Repurchases Dividends

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