Investor Presentaiton

18 Leading ESG Profile The Must-Own Permian Pure Play Diamondback is committed to successful execution on its environmental strategy and the targets discussed in its 2023 Corporate Responsibility Report As part of this commitment, in March 2023, Diamondback joined the Oil & Gas Methane Partnership 2.0 ("OGMP 2.0"), the flagship oil and gas reporting and mitigation program of the United Nations Environment Programme Combination with Endeavor allows Diamondback to apply its leadership in environmental focus to a significantly larger asset base over time Key Environmental Targets Environmental Strategy Highlights Reduce Scope 1+2 GHG intensity by at least 50% from 2020 levels by 2030 Reduce Scope 1 GHG intensity by at least 50% from 2019 levels by 2024 Reduce methane intensity by at least 70% from 2019 levels by 2024 Eliminate routine flaring (as defined by the World Bank) by 2025 Source >65% of our water used for operations from recycled sources by 2025 "Net Zero Now" Since January 1, 2021, every hydrocarbon produced by Diamondback has been produced with zero net Scope 1 emissions Recognizing the Company will still have a carbon footprint, Diamondback purchased carbon offset credits to offset remaining Scope 1 emissions Intend to eventually invest in income generating projects that are expected to more directly offset remaining Scope 1 emissions Incentive Compensation ESG has a 25% weighting in management's scorecard for 2023 Component determined by meeting or exceeding five key environmental and safety metrics: flaring intensity, GHG intensity, recycled water percentage, spill prevention and Total Recordable Incident Rate ("TRIR") DIAMONDBACK ENERGY

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