Diamondback Energy delivered a solid Q3 2025 performance, emphasizing capital discipline with a strategic focus on free cash flow generation amid fluctuating market conditions.

• Achieved a year-to-date reinvestment rate of 36% at mid-60s oil prices, prioritizing free cash flow per share.
• Q4 capital expenditures projected at $925 million, with production expected to stabilize at approximately 505,000 barrels per day.
• Continued emphasis on cost structure improvements and well performance, highlighted by a successful shift to co-development strategies in the Midland Basin.
• The merger with Endeavor is expected to yield enhanced well productivity and overall returns in the coming years.