Devon Energy — Feb 18, 2025 release

n Mill     •   Board approved a 9 percent increase to the quarterly fixed dividend in 2025 to $0.24 per share 2025 OUTLOOK     •   2025 capital program expected to be $3.8 to $4.0 billion, with more than 50 percent allocated to the Delaware Basin     •   2025 production anticipated to be 805,000 to 825,000 Boe per day, including 380,000 to 386,000 barrels of oil per day     •   Reached agreement with BPX to dissolve partnership in the Eagle Ford     •   Extended joint venture with Dow to develop an additional 49 wells in the Anadarko Basin OKLAHOMA CITY – Feb. 18, 2025 – Devon Energy Corp. (NYSE: DVN) today reports fourth-quarter results, as well as declares and raises the quarterly fixed dividend. Supplemental financial tables and forward-looking guidance are available on the company’s website at www.devonenergy.com . “I am proud to report that Devon ended 2024 with exceptionally strong results,” said Rick Muncrief, president and CEO. “Our operational performance was outstanding, underpinning robust financial outcomes and generating significant free cash flow. This success is a testament to the dedication and hard work of our entire team. “During the fourth quarter, our diversified, multi-basin portfolio once again delivered across our assets, with the Rockies and Eagle Ford exceeding estimates due to strong new well productivity and solid base pe