Business Description

Business Overview We are engaged in the production, transportation, and marketing of natural gas, NGLs, and oil, managing a diversified portfolio of mature, long-life assets. Our assets are located in the United States within the following geographical operating areas: • Appalachian Region, which spans Ohio, Pennsylvania, Virginia, West Virginia, Kentucky, Tennessee and Alabama; • Central Region, which includes Texas, Oklahoma, New Mexico, Louisiana and Arkansas; • Other, which includes Florida and Wyoming. Our business model emphasizes responsible stewardship and operational excellence, focusing on maximizing value from existing reserves. Our disciplined, full-lifecycle asset management approach is central to our success. We focus on optimizing and extending the productive life of existing wells, using advanced monitoring technologies and data analytics to drive operational efficiency and safety. In addition to our work on our producing wells, we have an extensive and innovative asset retirement program that consists of a vertically integrated plugging company based in our Appalachian Region. With over 69,000 total net productive wells, we produced an annual average of 1,086 MMcfepd during the year ended December 31, 2025 , and we are well-positioned to maximize asset value while maintaining a sound balance sheet and upholding high standards for safety and environmental responsibility. Our strategy is designed to deliver consistent shareholder returns and long-term value through disciplined growth and operational excellence. • We maintain a diversified asset base that supports stable and predictable production. • Our efficient capital investment process enables us to pursue growth opportunities and optimize returns. • Operational reliability is enhanced by robust infrastructure and a focus on preventative maintenance. • We execute a disciplined commodity hedging program that is designed to mitigate price volatility. • Our experienced leadership team drives disciplined execution and strategic decision-making. • We have a proven track record of integrating new assets efficiently and realizing operational synergies. 2025 Highlights • Average daily production of 1,086 MMcfepd representing an increase of 37% when compared to 791 MMcfepd for the same period in 2024 ; • In November 2025 , we acquired Canvas Energy Inc. (“Canvas”) for total consideration of approximately $533 million . The transaction was funded through the issuance of 3,718,209 shares of common stock and approximately $399 million in cash. The cash portion of the consideration was primarily funded through the issuance of the ABS XI Notes with a total principal amount of $400 million . The ABS XI Note s are secured by certain upstream producing assets acquired in the Canvas acquisition; • In November 2025 , we completed the U.S. Domestication, resulting in Diversified Energy Company, a Delaware corporation, becoming our publicly traded parent company; • In October 2025, we launched a well plugging fund with the state of West Virginia dedicated to retiring oil and gas wells. Over the initial 20 year period of the agreement, we plan to invest $70 million , which is held and guaranteed by OneNexus, an insurance provider for asset retirement obligations, t o ensure we have provided financial assurance so that all of our wells in the state are safely retired. The State of West Virginia is a third party beneficiary of the plugging fund; • In April 2025 , we issued $300 million of new senior secured notes in the Nordic bond market at a 2% discount, resulting in net proceeds of $294 million (the “Nordic Bonds”); • In March 2025 , we acquired Maverick Natural Resources, LLC (“Maverick”) f or net consid eration of $666 million . The gross value of the transaction was approximately $1.3 billion and was funded through the issuance of 21,194,213 shares of common stock direct to the unitholders of Maverick, and approximately $211 million in cash. The transaction also included the assumption of approximately $518 million of ABS Maverick Notes outstanding and the payoff of $202 million outstanding on Maverick’s credit facility on the acquisition date; • In March 2025 , concurrent with the Maverick acquisition, we amended and restated the credit agreement governing our revolving loan facility (the “Credit Facility”) , increasing the borrowing base to $900 million and extending the maturity to March 2029 .…