Diamondback Energy — Aug 3, 2026 release

Q2 2026 Q3 2026 to date Cumulative (in millions, except per share amounts, shares in thousands) Base dividend $ 1.10  Shares repurchased 756  548  42,992  Weighted average repurchase price $ 186.63  $ 182.32  $ 142.44  Total repurchase cost $ 141  $ 100  $ 6,124  Total return of capital $ 452  UPDATED 2026 GUIDANCE Below is Diamondback's and Viper Energy, Inc.'s (“Viper”) updated guidance for the full year 2026, which includes third quarter production and capital guidance. 2026 Guidance 2026 Guidance Diamondback Energy, Inc. Viper Energy, Inc. 2026 Net production - MBOE/d 1,000+ ( from 972+) 132.5 - 135.0 2026 Oil production - MBO/d 522+ (from 520+) 66.0 - 67.25 Q3 2026 Oil production - MBO/d (total - MBOE/d) 517 - 527 (995 - 1,015) 67.5 - 68.5 (133.5 - 135.5) Unit costs ($/BOE) Lease operating expenses, including workovers $5.90 - $6.40 G&A Cash G&A $0.55 - $0.65 (from $0.55 - $0.70) $0.70 - $0.90 Non-cash equity-based compensation $0.20 - $0.30 $0.10 - $0.20 DD&A $13.50 - $14.50 (from $14.00 - $15.00) $14.75 - $17.25 Interest expense (net of interest income) $0.50 - $0.70 $1.90 - $2.40 Gathering, processing and transportation $1.40 - $1.60 (from $1.50 - $1.70) Production and ad valorem taxes (% of revenue) ~7% ~7% Corporate tax rate (% of pre-tax income) 23% Cash tax rate (% of pre-tax income) (1) 19% - 22% (from 18% - 21%) 27% - 30% Q3 2026 Cash taxes ($ - million) $400 - $460 Cash Capital Budget ($ - million) Operated drilling and completion ~$3,310 2026 Total capital expenditures (2) ~$3,900 Q3 2026 Capital expenditures $950 - $1,050 Average lateral length (Ft.) ~12,900' Net lateral footage completed (1,000's of Ft.) 6,100' - 6,500' (1) Pre-tax income attributable to the Company is a non-GAAP measure. We are not able to forecast the most directly comparable GAAP measure - Income (loss) before income taxes - due to high variability an