Permian Resources — May 7, 2025 release

“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 has been focused on improving its already strong balance sheet in order to position itself to create outsized value in the event of a downturn. Since year-end 2023, Permian Resources has increased its liquidity by over $1 billion to $3.2 billion, while steadily decreasing leverage despite more than doubling the size of the Company over this time. Permian Resources’ current leverage ratio of 0.8x represents a reduction of over 25% since 2023 and is in-line or better than many of its large-cap E&P peers. Permian Resources’ consistent hedging philosophy is designed to protect the balance sheet, cash flow and shareholder returns. With approximately 25% of its oil production hedged this year at attractive prices, the Company’s peer-leading hedge position ensures it has the flexibility to be opportunistic during downcycles. Importantly, Permian Resources’ low-cost leadership and high-quality asset base have resulted in improved business fundamentals, capable of delivering strong free cash flow generation even at lower oil prices. Combined, these attributes ensure