Devon Energy — Nov 5, 2025 release

To date, Devon has already achieved more than 60 percent of its $1 billion target, demonstrating the effectiveness and urgency of these initiatives. These actions are strengthening margins and maximizing capital efficiency across Devon’s assets. UPDATED OUTLOOK Devon’s fourth quarter capital is expected to range from $890 million to $950 million. With this level of investment, the company expects to bring online around 90 gross operated wells during the quarter. Fourth-quarter production is expected to range from 828,000 to 844,000 Boe per day, with oil production expected to range from 383,000 to 388,000 barrels per day. In 2026, the company aims to maintain total production at approximately 835,000 to 855,000 Boe per day, including about 388,000 barrels of oil per day. Supported by ongoing business optimization efforts, capital requirements are projected to decrease by $100 million from 2025 levels, resulting in an expected range of $3.5 billion to $3.7 billion. Additional details of Devon’s forward-looking guidance are available on the company’s website at www.devonenergy.com .   2 CONFERENCE CALL WEBCAST AND SUPPLEMENTAL EARNINGS MATERIALS Also provided with today’s release is the company’s earnings presentation that is available on the company’s website at www.devonenergy.com . The company’s third-quarter conference call will be held at 10:00 a.m. Central (11:00 a.m. Eastern) on Thursday, November 6, 2025, and will serve primarily as a forum for analyst and investor questions and answers. ABOUT