Permian Resources — May 7, 2025 release

Recent Financial and Operational Highlights • Reported crude oil and total average production of 175.0 MBbls/d and 373.2 MBoe/d • Announced cash capital expenditures of $501 million, net cash provided by operating activities of $898 million and adjusted free cash flow 1 of $460 million, representing the highest adjusted free cash flow in Company history • Closed previously announced non-core divestiture of the Barilla Draw gathering systems for $180 million • Maintained strong balance sheet with leverage 1 of ~0.8x, cash of $702 million and total liquidity of $3.2 billion • Declared base dividend of $0.15 per share, representing a 5.0% yield • Recently repurchased 4.1 million shares at a weighted average price of $10.52 per share • Reduced the mid-point of full year capital budget by $50 million to $1.95 billion, while maintaining oil and total production guidance ranges Bolt-On Transaction Highlights • Acquired 13,320 net acres and 8,700 net royalty acres directly offset Permian Resources’ core New Mexico operating areas for $608 million ◦ ~12 MBoe/d (~45% oil) of low decline production expected during second half of 2025 ◦ High NRI (average 83% 8/8 ths ) enhances returns and bolsters PR’s existing royalty position • Adds >100 new gross operated, two-mile locations with advantaged NRIs, which immediately compete for capital ◦ Inventory scheduled for development in the near-term achieves an average breakeven of ~$30 per barrel WTI • Significant industrial logic with clear path to outsized value creation ◦ Majority of inventory located within PR's existing Parkway asset in Eddy County, one of the Company's most capital efficient assets ◦ High-quality non-operated position provides PR the opportunity to add incremental value via its ground game • Purchased at an attractive valuation, reflecting current market conditions ◦ $12,500 per net acre, $6,000 per net royalty acre and $2 million per net location ◦ Accretive to all key per share metrics • Maintain strong balance sheet pro forma for transaction with <1x net debt-to-EBITDAX and >$3 billion of liquidity at year-end 2025, assuming $60 per barrel WTI for remainder of year Management Commentary “Permian Resources delivered another outstanding quarter, highlighted by strong operational performance and lower costs. Through our team’s relentless pursuit of enhancing our low cost leadership, during the quarter we reduced controllable cash costs per Boe by 4% quarter-over-quarter and lowered D&C costs to $750 per foot, which helped generate record quarterly adjusted free cash flow of $460 million,” said Will Hickey, Co-CEO of Permian Resources. “As a result of the current environment, we are lowering the mid-point of our capital expenditure budget by $50 million while maintaining our full year production guidance, demonstrating the high-quality nature of our asset base,” said James Walter, Co-CEO of Permian Resources. “Underpinned by high-return inventory and improved business fundamentals, we expect to deliver similar free cash flow at $60 per barrel WTI for the remainder of 2025 as we did in 2024 at $75 per barrel.” PR’s Fortress Balance Sheet Allows It To Be Opportunistic During Downturns Since the Company’s inception, Permian Resources