Permian Resources — Oct 31, 2024 release

Recent Financial and Operational Highlights • Reported crude oil and total average production of 160.8 MBbls/d and 347.1 MBoe/d during the quarter • Announced cash capital expenditures of $520 million, cash provided by operating activities of $954 million and adjusted free cash flow 1 of $303 million • Continue to drive operational efficiencies, resulting in reduced cycle times and lower well costs ◦ Reduced D&C costs to ~$800 per lateral foot, which represents a 16% decrease from 2023 • Announced quarterly base dividend of $0.15 per share, a 150% increase compared to the prior quarter ◦ Represents initial base dividend under the Company's updated return of capital strategy • Maintained strong balance sheet with leverage of ~1x and ~$2.8 billion of total liquidity ◦ Ended quarter with undrawn revolver and $272 million of cash • Received upgraded credit ratings by Moody’s, S&P and Fitch ◦ Targeting investment grade credit ratings in 2025 • Closed previously announced Barilla Draw transaction, adding ~29,500 net acres and ~9,900 net royalty acres directly offset existing operations • Increased mid-point of full year oil and total production guidance by over 4% to 158.5 MBbls/d and 341.0 MBoe/d ◦ Third consecutive increase of guidance primarily driven by strong performance of base business Management Commentary “Our team continues to do a tremendous job executing in the field and has improved upon the operational efficiencies gained earlier in the year. Most importantly, reduced cycle times have driven a significant reduction in well costs,” said Will Hickey, Co-CEO of Permian Resources. “We are now drilling and completing wells for approximately $1 million cheaper than 2023. This improvement is driven by our operation