Chord Energy — Nov 6, 2024 release

Key Takeaways and Updates: • Cash Flow from Operations and Adjusted Free Cash Flow exceeded expectations in 3Q24, supported by oil volumes near the high-end of guidance and capital below the low-end of guidance; • Lowering FY24 capital guidance, while raising FY24 oil volumes guidance; • Share repurchases increased to $146MM in 3Q24 or over 1.5% of shares outstanding; • Third-mile productivity factor increased to 100%, reflecting full contribution from last mile; and • Issued three-year outlook (2025 – 2027), spending $1.4B of capital annually to hold oil volumes flat. 3Q24 Operational and Financial Highlights: • Oil volumes of 158.8 MBopd were near the high-end of guidance, reflecting strong well performance and lower downtime; • Total volumes of 280.8 MBoepd were above the high-end of guidance; • E&P and other CapEx of $329.2MM was below the low-end of guidance reflecting lower spending and program timing; • Lease Operating Expense (“LOE”) of $9.56 per Boe was favorable to expectations as a result of lower maintenance and improved downtime; • Net cash provided by operating activities was $663.2MM and net income was $225.3MM; • Adjusted EBITDA (1) was $674.5MM and Adjusted Free Cash Flow (1) was $312.5MM; and • Released 2023 Sustainability Report on September 30, 2024, highlighting Chord’s commitment to sustainable business operations and continuous improvement. 3Q24 Shareholder Return Highlights: • Return of capital set at $234MM, or 75% of Adjusted Free Cash Flow (1) ; • Repurchased $146MM of common stock, representing more than 90% of capital returned to shareholders after the base dividend; • Declared a base-plus-variable cash dividend of $1.44 per share of common stock; and • Authorized new sha