Chord Energy — May 5, 2026 release

2 2026 Outlook Update: Chord is updating its 2026 guidance to reflect 1Q26 performance, production optimization initiatives, faster cycle times, and its latest forecasts. Chord is driving base production higher through various initiatives discussed above, resulting in a higher volume outlook with minimal impact on costs. In 2026, Chord expects to generate approximately $3.1B of Adjusted EBITDA and $1.4B of Adjusted Free Cash Flow including the impact of derivatives ($80/Bbl WTI and $3.25/MMBtu Henry Hub for 2Q26-4Q26). Key Update Summary: • Volumes: FY26 oil volumes increased 2 MBopd at midpoint to 161 MBopd; • 2Q26 midpoint oil volume guidance of 164.0 MBopd reflects positive impacts from production optimization initiatives and faster D&C cycle times. 3Q26 volumes are expected to be similar levels to 2Q26 before declining in 4Q26; • Capital: FY26 CapEx remains unchanged from the February 2026 guidance of $1.4B at midpoint; • 2Q26 CapEx guidance of $425MM at midpoint reflects faster D&C cycle times. CapEx is expected to decline in 3Q26 and fall further in 4Q26; • Realizations: FY26 oil realization outlook improved to reflect current market premiums to WTI. FY26 NGL realizations adjusted to reflect higher absolute pricing, but a lower percentage of WTI. FY26 natural gas realizations are essentially unchanged from February 2026 guidance; • LOE: Midpoint FY26 LOE increased $0.15/BOE to $9.95/BOE reflecting various production enhancement initiatives; and • Activity: Chord continues to plan to TIL 135 – 165 gross operated wells (~40% 3-mile laterals and ~4