Chord Energy — Nov 6, 2024 release

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 share repurchase program totaling $750MM, replacing the existing program. (1) Non-GAAP financial measure. See “Non-GAAP Financial Measures” below for a reconciliation to the most directly comparable financial measures under United States generally accepted accounting principles (“GAAP”). “Chord’s outstanding third quarter performance reflects solid execution and strong well performance,” said Danny Brown, Chord Energy’s President and Chief Executive Officer. “Production was near the top-end of guidance, while capital was below the low-end of guidance. This strong performance supported the continued execution of Chord’s shareholder return strategy, which included a meaningful increase to share repurchases in the third quarter. Chord’s valuation is compelling, and we expect share repurchases to comprise a significant portion of future shareholder returns, especially at current prices. In addition, three-mile lateral development continues to be a key factor driving a positive rate of change through our business, and we are seeing recoveries proportional to the increased lateral length. As a result, we are updating the productivity factor of the third mile to 1 100%. Congratulations to the Chord team for continuing to challe