Diamondback Energy — Oct 1, 2024 release

This guidance has been updated to give effect to the Endeavor Energy Resources, L.P. (“Endeavor”) merger, which was completed on September 10, 2024. REVISED THIRD QUARTER 2024 GUIDANCE • Q3 2024 oil production guidance of 319 – 321 MBO/d (565 – 569 MBOE/d) • Q3 2024 cash CAPEX guidance of $675 – $700 million About Diamondback Energy, Inc. Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. For more information, please visit www.diamondbackenergy.com .     Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act, which involve risks, uncertainties, and assumptions. All statements, other than statements of historical fact, including statements regarding Diamondback’s: future performance; business strategy; future operations (including drilling plans and capital plans); estimates and projections of revenues, losses, costs, expenses, returns, cash flow, and financial position; reserve estimates and its ability to replace or increase reserves; anticipated benefits or other effects of strategic transactions (including the recently completed Endeavor merger and other acquisitions or divestitures); and plans and objectives of ma