2026
Fox Hollow Battery Midland Basin Midland County, Texas
Contents 4
Message from Our CEO
5
Diamondback At-A-Glance
7
Our Sustainability Approach
10 11 13 15 21
26 28 29 32 33 34 35
37 41 42 43 44
Sustainability & Governance Oversight Identifying Material Topics Engaging with Our Stakeholders Climate Strategy Sustainability Targets & Progress
Environment
Environmental Management Water Spill Prevention Waste Managing Seismicity Land Use & Biodiversity
Safety
Identifying Potential Hazards Contractor Safety Emergency Response Program Maintaining Secure Facilities & Operations
46
Human Capital
53
Communities
66
Ethics & Integrity
73
Appendix
48 49 50 51
56 56 57 61
69 70 72
77 77 79 81 83
Recruiting Engagement & Retention Training & Development Total Rewards & Benefits
Community Engagement Economic Impact Community Development & Investment Employee Volunteerism & Charitable Giving
Human Rights Guarding Against Cyberattacks & Breaches Trade Associations, Lobbying & Political Involvement
GHG Methodologies & Assumptions SASB Index AXPC Index Report of Independent Certified Public Accountants Forward-Looking Statements
This is Diamondback Energy, Inc.’s (“Diamondback Energy,” “Diamondback,” “we,” “us,” “our” or “Company”) ninth annual corporate sustainability report. Except where otherwise noted, the scope of this report comprises all consolidated operations and includes data through December 31, 2025. This includes operations at our wholly owned midstream subsidiary, Rattler Midstream LP (“Rattler”), but does not include operations at our public mineral and royalty subsidiary, Viper Energy, Inc. (“Viper”), as Viper does not have physical oil and gas operations. The data included in this report was subject to internal review and verification and certain environmental data was also subject to independent third-party review and limited assurance. Please see the Report of Independent Certified Public Accountants on page 81 for more information.
Fox Hollow Battery Midland Basin Midland County, Texas
2026 Corporate Sustainability Report
Message from Our CEO DEAR STAKEHOLDERS, In 2025, Diamondback delivered strong operational execution and significant cash flow generation while optimizing consistency, reliability, and capital efficiency. We generated $8.8 billion in net cash provided by operating activities and $5.5 billion of Free Cash Flow, a testament to disciplined capital allocation and a high-performing workforce. Together, these results underscore our ability to efficiently and expertly produce American energy. Operational improvements fueled performance achievements. We drilled longer wells faster and at lower cost, while advancing our e-fleet simulfrac program and continuous pumping capabilities. These improvements reduce equipment, time, resources, and operational intensity required for asset development. Sustainability is embedded in how we run our business. It guides how we champion people, strengthen communities, uphold sound governance, develop natural resources, and reduce our environmental footprint. In 2025, we exceeded our non-freshwater use goal and outperformed our operated natural gas flaring target. Investing in systems and technologies that boost our ability to operate safely and responsibly remains a top priority. Through proactive monitoring, real-time data, and cutting-edge technologies, we aim to identify potential issues earlier, respond more effectively, and mitigate environmental risk. This approach reinforces the safety and dependability of all our operations, while respecting the land and communities where we operate. Built on hard work and shared values, our success is powered by our employees. We stand with them, putting their well-being, safety, development, and growth first. Looking ahead, we will focus on what we can control: working safely and efficiently, reducing risk, taking care of our people and neighbors, and delivering long-term value for stockholders. Sincerely,
Kaes Van’t Hof Chief Executive Officer 2026 Corporate Sustainability Report
Diamondback Energy, Inc. (Nasdaq: FANG) 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 primarily in West Texas’ Permian Basin. Company operations are primarily focused on horizontal development of Midland Basin’s Spraberry and Wolfcamp formations and Delaware Basin’s Wolfcamp and Bone Spring formations, both part of the larger Permian Basin in West Texas and New Mexico.
Diamondback Permian Basin Acreage
These formations are characterized by a high concentration of oil and liquids, rich natural gas, multiple vertical and horizontal target horizons, extensive production history, longlived reserves, and high drilling success rates. Additionally, Diamondback’s publicly-traded subsidiary, Viper Energy, Inc., primarily owns Permian Basin mineral interests.
VALUES Our culture is rooted in core values guiding conduct across the entire organization. These values define rigorous standards for employees, operations, and interactions in both office and field locations.
INTEGRITY Integrity is earned when our words and actions consistently reflect our vision and strategy and is apparent in all interactions with our internal teams, business partners, and shareholders.
LEADERSHIP Leadership is setting the right vision, making sound decisions, and delegating effectively. We lead by executing our strategy, operating with excellence, and delivering exceptional results to shareholders.
Data as of December 31, 2025
EXCELLENCE Excellence is achieved when our actions exceed the desired outcome. We have high expectations and recognize individual and team accomplishments with emphasis on contributions to our organization’s success.
PEOPLE People are the foundation of our company’s success. We believe success thrives in a culture built on mutual trust, confidence, and respect. This environment challenges our employees, business partners, and community to reach their full potential.
TEAMWORK Teamwork embodies different ideas, personalities, and skills to achieve common goals both within our organization and through effective relationships with our business partners.
1
West Tex Harvey Battery Midland Basin Midland County, Texas
9 | Our Sustainability Approach
West Tex Harvey Battery Midland Basin Midland County, Texas
Our Sustainability Approach As an oil and gas leader, we improve lives by providing American energy to fuel homes, businesses, transportation, and other key components of our economy. Responsible operations are essential to business success. We are committed to the safe development of our Permian Basin assets, where the majority of our employees and their families live and work. Protecting the environment remains a priority as we seek to create lasting value for stockholders, employees, and communities we serve.
2026 Corporate Sustainability Report
Management of sustainability risks and opportunities is integrated across all operations. The executive management team sets strategy and sustainability targets with oversight from the Safety, Sustainability, and Corporate Responsibility (SSCR) Committee and Board of Directors.
Our Sustainability Approach | 10
Sustainability & Governance Oversight BOARD OF DIRECTORS
Oversees enterprise risk management framework, including environmental, safety, and human capital programs, as well as corporate governance policies
BOARD COMMITTEES Safety, Sustainability & Corporate Responsibility Committee
Nominating & Corporate Governance Committee
Oversees environmental responsibility, sustainability matters, and quality of our procedures for identifying, assessing, monitoring, and managing principal environmental, health, climate, human capital, safety, and social risks.
Oversees Board composition and recruitment, corporate governance guidelines, and Board evaluation processes.
Compensation Committee
Audit Committee
Oversees executive, non-employee director, and employee compensation programs, including benefit programs, equity plans, and stock ownership guidelines.
Oversees accounting, auditing, and financial reporting processes, including internal controls, risk management compliance, and cybersecurity risks.
EXECUTIVE MANAGEMENT
Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer establish sustainability strategy and uphold accountability across the company.
OPERATIONS
HEALTH, SAFETY, AND ENVIRONMENT
HUMAN RESOURCES
Establishes and implements Manages Health, Safety, and employee recruitment, Environmental policies, programs, engagement, and development and compliance. programs.
GOVERNMENT AFFAIRS
Identifies and regularly engages with relevant stakeholders on community, regulatory, and legislative issues and impacts.
2026 Corporate Sustainability Report
11 | Our Sustainability Approach
Identifying Material Topics Guided by stakeholder input, Diamondback’s sustainability strategy focuses on issues most relevant to the business and where the greatest impact can be made. Third-party frameworks inform and validate priorities, including the Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Financial Disclosures (TCFD), Global Reporting Initiative (GRI), International Petroleum Industry Environmental Conservation Association (IPIECA), and American Exploration and Production Council (AXPC). Material topics, addressed throughout this report, include:
Environmental Responsibility
Climate • Greenhouse Gas (GHG) & Emissions • Water Use & Recycling Flaring • Spills & Response Management • Waste & Biodiversity
Managing & Reducing Risks
Safety • Security • Emergency Preparedness
People
Company Culture • Human Rights • Health & Safety Training • Professional Development
Communities
Outreach • Engagement • Investment
Governance & Business Ethics
Corporate Governance • Ethics & Compliance
2026 Corporate Sustainability Report
Our Sustainability Approach | 12
Fox Hollow Battery Midland Basin Midland County, Texas
2026 Corporate Sustainability Report
13 | Our Sustainability Approach
Engaging with Our Stakeholders Open and ongoing engagement with stakeholders is prioritized to better understand their perspectives and incorporate relevant input into the company’s sustainability strategy and initiatives. These efforts are outlined below and discussed in greater detail throughout this report. STOCKHOLDERS • Annual, or more frequent, engagement to share updates on company strategy and business performance and gather stockholder priorities related to corporate governance, executive compensation, and sustainability efforts. • Initiated contact with our top stockholders representing 77% of outstanding shares as of June 30, 2025. Meetings were held with stockholders representing approximately 49% of our outstanding shares, including five of the 10 largest stockholders. DIAMONDBACK EMPLOYEES • Promoting collaboration with two-way employee communications through town halls and periodic pulse surveys. • Offering skills training, professional, and leadership development opportunities. • Supporting a positive work environment and employee engagement experience. COMMUNITY MEMBERS • Participating in local city council meetings. • Engaging in volunteer programs, service projects, and other local events. • Supporting new and expanded learning opportunities in local school districts. • Contributing leadership as a Permian Strategic Partnership member, an organization focused on addressing current and future challenges in Permian Basin communities.
2026 Corporate Sustainability Report
Our Sustainability Approach | 14
SURFACE & MINERAL INTEREST OWNERS • Conducting on-site visits with property owners when planning new or expanded projects. • Offering dedicated support from the Owner Relations team.
BOARD OF DIRECTORS Stakeholders Activities & Opportunities • Overseeing risks and opportunities related to sustainability practices. STOCKHOLDERS • Annual, or more frequent, engagement to share updates • Providing regular briefings to the Board and Safety, Sustainability, performance and gather stockholder priorities related to and Corporate Responsibility (SSCR) Committee on corporate compensation, and sustainability efforts responsibility and sustainability strategies and initiatives. • As of June 30, 2025, contact was initiated with the top [X ~77% of outstanding shares, and meetings were held wi SUPPLY CHAIN PARTNERS ~49% of outstanding shares, including five of the 10 larg • Conducting regular screening and DIAMONDBACK EMPLOYEES • Promoting collaboration with two-way employee commu contractor evaluation. periodic pulse surveys • Providing guidance and support • Offering skills training, professional, and leadership devel in meeting our performance and • Supporting a positive work environment and employee e compliance standards. COMMUNITY MEMBERS • Participating in local cityaudits. council meetings • Performing vendor • Engaging in volunteer programs, service projects, and oth • Supporting newPROVIDERS and expanded learning opportunities in RISK RATING • Contributing leadership as aunderstand Permian Strategic Partnershi • Engaging to better focused standards on addressing and future ischallenges in Pe and current how performance SURFACE & MINERAL INTEREST • Conducting on-site visits with property owners when pla assessed. OWNERS • Offering support frommetrics the Owner • dedicated Incorporating relevant intoRelations tea REGULATORY AGENCIES reporting. • Maintaining ongoing communication with federal, state, • Providing updates on newindustry-relevant pu • Supporting development of effective disclosures. BOARD OF DIRECTORS • Overseeing risks and opportunities related to sustainabili • Providing regular briefings to the Board and Safety, Susta REGULATORY AGENCIES Responsibility (SSCR) Committee on corporate responsibi • Maintaining ongoing and initiatives with SUPPLY CHAIN PARTNERS • Conducting regularcommunication screening and contractor evaluation federal, state, and local • Providing guidance and support in meeting our performa agencies. • Performing vendor audits • Supporting RISK RATING PROVIDERS • Engaging to better understand standards and how perfor development of • Incorporating relevant metrics into reporting effective industry• Providing updates on new disclosures relevant public policy.
2026 Corporate Sustainability Report
15 | Our Sustainability Approach
Climate Strategy Evolving energy markets and policy and regulatory developments may present business risks and opportunities. We seek to manage these risks while identifying opportunities to strengthen operations and long-term resilience. A measured approach is taken by setting clear objectives and incorporating relevant climate-related considerations into planning while also acknowledging uncertainty around timing and scale. Diamondback’s executive leadership team is responsible for setting sustainability priorities aligned with the company’s business strategy, establishing performance goals, and allocating resources to execute. The Board’s SSCR Committee provides sustainability oversight, including consideration of climate-related risks, opportunities, and resilience planning. The Board also reviews and approves the annual capital budget, which incorporates investments in emissions-related initiatives and supporting technologies.
Set sustainability priorities. Establishes performance goals. Allocates resources to execute.
2026 Corporate Sustainability Report
B
OF DIRECTO
SCR COMMI TTE RD S A O
A RD BO
Sustainability oversight.
Reviews and approves annual capital budget, including funds for emissions-related initiatives and technologies.
E
EXE
T
M EA
Leading Our Climate Strategy
C
LEADERSHIP
Transparency and performance in emissions management remains a focus through continued Oil & Gas Methane Partnership 2.0 (OGMP 2.0) membership, the flagship oil and gas reporting and mitigation program of the United Nations Environment Programme. Through ongoing OGMP 2.0 partnership, Diamondback aims to enhance methane emissions accountability and continue reducing methane intensity across operations. Anchored by real-time continuous methane monitoring, this approach was enhanced in 2025 by initiating aerial flyovers across all our assets. Annual flyovers support OGMP reporting by reconciling ground-based methane emission measurements, while quarterly flyovers validate performance data recorded through on-site technologies and help identify undetected issues.
Climate-related risks are addressed through a broader risk management framework, designed to identify, assess, and prioritize potential business impacts. Risks are evaluated alongside other operational, strategic, and regulatory considerations for a coordinated, practical response. The process includes regular engagement with executive leadership and periodic Board review to remain aligned with changing business conditions. Additional detail on how potential climate-related risks and opportunities are
VE U TI
assessed and addressed is provided in the Task Force on Climate-related Financial Disclosures (TCFD) Index posted here.
RS
Our Sustainability Approach | 16
Taking Action to Reduce Emissions Our disciplined approach to emissions management is spearheaded by investing in practical, highimpact initiatives. In 2025, we invested $48 million in environmental capital expenditures to support emissions reduction projects across our operations and allocated $45 million for 2026. As part of this effort, we previously established targets to reduce greenhouse gas (GHG) and methane emissions intensity. In 2025, we refreshed our 2019 medium-term targets to reflect progress in reducing Scope 1 GHG and methane emissions intensity while also acknowledging the evolution of the reporting regulatory framework and the significant increase in our asset base following the Endeavor acquisition. These refreshed environmental targets were set with what we believed to be an informed view of our future operations and the applicable regulatory framework, understanding that longer term targets would require capital investments and extended timeframes to deliver results and continue to drive our goal of sustained performance improvement. As with all of our business and operational targets, we continually re-evaluate our emissions targets as the assumptions on which they were established have and will continue to shift. In light of these operational and regulatory changes, we have removed our previously disclosed target to reduce our Scope 1+2 greenhouse gas emissions intensity by at least 50% from 2020 levels by 2030. We have kept our
targets of (i) reducing methane intensity by at least 20% from 2024 levels by 2030 and (ii) maintaining peerleading Scope 1 GHG intensity at 2024 levels. Operational improvements are the focus of our efforts to meet our environmental targets, including the use of Best Available Control Technology (BACT) on new facilities and wells. These measures include infrastructure enhancements, such as air compression systems, vapor recovery units, and electrified compression. Investing in innovative drilling and well completion methods has achieved the same or improved results with a greatly reduced environmental footprint. Since 2021, through our “Net Zero Now” initiative, we have utilized voluntary carbon offsets, including offsets verified under recognized third-party standards, to address Scope 1 emissions while actively evaluating and investing in income-generating projects expected to provide more direct emissions offsets over time. Monitoring capabilities continue expanding to improve emissions detection and management. In 2025, over 90% of Diamondback’s crude oil production was supported by real-time continuous methane monitoring. A broader leak detection program also includes field inspections, dedicated personnel equipped with forward-looking infrared (FLIR) cameras, and flame-sensor technology for real-time monitoring and regulatory compliance.
2026 Corporate Sustainability Report
17 | Our Sustainability Approach
Key Programs to Reduce Emissions COMBUSTION
Electrical Generation • Electrified primary frac fleets by end of Q1 2025. • Installed solar power for some chemical delivery pumps, automated valves (where appropriate), and lighting. • Operated ~5,600 miles of power line and 10 substations to electrify operations. • Made progress eliminating gas-powered generators. Drilling/Completions • All drilling rigs are electric capable. Actual electric drilling is governed by rig location and power availability. • Grew inventory of wells drilled by rigs on electricity supplied directly from power lines. • Completed ~86% of wells using electric frac operations in 2025. Gas-Lift Engines • Continued electrification of existing natural gas compression fleet.
EQUIPMENT LEAKS
Leak detection and repair (LDAR) • Leak detection supported by FLIR teams. • Completed monthly inspections and reporting. • Maintained >90% of oil production on Continuous Methane Monitoring.
West Tex Harvey Battery Midland Basin, Midland County, Texas 2026 Corporate Sustainability Report
FLARING
Routine • Connected all new wells to sales pipelines prior to initial production. • Obtained multiple sales connections where feasible. Non-Routine • Included performance-based incentives and penalties related to flaring in midstream contracts. • Negotiated downstream commitments and other offload arrangements. • Utilized continuous in-house hydrogen sulfide (H2S) monitoring to reduce pipeline shut-ins and prevent flaring. • Hosted twice a year in-person meetings with major midstream partners to improve operational collaboration and mitigate flaring. • Worked to improve third-party maintenance planning, reduce third-party downtime, and resolve third-party capacity constraints. • Shut in oil production to prevent or limit flaring where feasible.
NATURAL GAS PNEUMATIC DEVICES
Device actuating • Continued replacing natural gas controllers with compressed air units on horizontal batteries and BACT utilization on vertical batteries. • Installed air compressors in lieu of natural gas controls at all new facilities.
ATMOSPHERIC STORAGE TANKS
Oil tank emissions • Employed vapor-recovery towers and vapor-recovery units as part of standard facility design since 2014. • Installed 40-ounce tanks to drive remaining flash gas to control devices.
Our Sustainability Approach | 18
Zero Routine Flaring Ambition Since setting our ambition to eliminate routine flaring (as defined by the World Bank) by 2025, substantial investments and operational improvements to reduce routine flaring levels have been made. To maintain this, Diamondback operations ensure appropriately-sized gas pipelines are in place and operational prior to bringing any new production online. In 2025, total non-routine flaring represented ~2% of Diamondback’s gross natural gas production, with 91% of flaring attributed to third party midstream gatherers and processors. The remaining 9%—flaring attributable to Diamondback’s own operations—equated to just 0.18% of gross natural gas production, outperforming our annual target of less than 0.2%. While reducing total flaring is influenced by third-party infrastructure dependencies, the company continues to take targeted actions to minimize it within our operational control. These efforts support our broader emissions reduction strategy by lowering flared hydrocarbons, a significant source of Scope 1 GHG emissions. Midstream engagement drove flaring reductions. Contracts incorporate performance-based incentives and penalties and, where appropriate, utilize fixed-fee structures to better align incentives and support more reliable movement of produced natural gas to market. We also host twice a year in-person meetings with key midstream partners to strengthen collaboration, improve operations, and further reduce flaring. Operationally, systems and infrastructure were strengthened to reduce flaring, including adding multiple gas sales connections at larger production sites to enable alternative pathways to market and reduce reliance on a single provider. Oil production was curtailed or shut in when necessary to minimize flaring during third-party disruptions. These efforts underscore our commitment to responsible operations and long-term value creation.
2025 Flaring by Source
7%
9%
THIRD-PARTY PLANNED MAINTENANCE
DIAMONDBACK GROSS VOLUMES OF FLARED HYDROCARBONS
16,174,421 MCF
84%
THIRD-PARTY UNPLANNED MAINTENANCE
2026 Corporate Sustainability Report
19 | Our Sustainability Approach
Working in Partnership to Reduce Emissions Collaborating with industry groups and regional stakeholders across the Permian Basin has resulted in practical, coordinated efforts to reduce environmental impacts. Diamondback is an active member of The Environmental Partnership, an industry coalition representing a significant portion of U.S. onshore oil and natural gas production and focusing on advancing environmental performance. Since 2020, the company has supported partnership initiatives to strengthen leak detection and repair (LDAR) practices and promote replacement of high-bleed pneumatic controllers with lower-emission alternatives.
We also engage with numerous industry organizations to share best practices and contribute to broader environmental improvement efforts, including: • • • • • • •
Oil & Gas Methane Partnership 2.0 (OGMP 2.0) American Exploration & Production Council (AXPC) American Petroleum Institute (API) Permian Basin Petroleum Association (PBPA) Texas Oil & Gas Association (TXOGA) Texas Methane and Flaring Coalition (TMFC) University of Texas at Austin Center for Energy and Environmental Systems Analysis (CEESA)
Operated Emissions in 2025
2%
5%
FUGITIVE EMISSIONS
OTHER VENTED EMISSIONS
44,875 mt CO2 e
129,313 mt CO2 e
SCOPE 1 EMISSIONS
36%
OTHER COMBUSTION
2,388,165 mt CO2e
849,677 mt CO2 e
57%
FLARED HYDROCARBONS
1,364,300 mt CO2 e
SCOPE 2 EMISSIONS
CALCULATED SCOPE 3 EMISSIONS
1,660,486 mt CO2e
107,506,367 mt CO2e
2026 Corporate Sustainability Report
(USE OF SOLD PRODUCTS)
Our Sustainability Approach | 20
Fox Hollow Battery Midland Basin Midland County, Texas 2026 Corporate Sustainability Report
21 | Our Sustainability Approach
Targets & Progress Natural Gas Flaring
% of FANG operated gross gas flared/gross gas produced
0.33% 0.27%
Achieved 2025 target with a FANG-operated flaring rate of 0.18% of total gas production
0.18%
2022
2023
2024
0.18%
0.20% <0.20%
2025
2026 Target
2026 Target: <0.2% of gross gas produced (FANG Operated)
Workplace Safety Employee TRIR
0.82 0.68
0.62
0.30
2022
2023
0.25 ≤0.25
2024
2026 Target: TRIR at or below 0.25
2026 Corporate Sustainability Report
2025
2026 Target
Our Sustainability Approach | 22
Produced Liquid Spills (Less Recovered)
Barrels (BBLs) of produced liquid spills not recovered/total produced liquids (MBBLs) Achieved 2025 target
0.019
0.02 <0.02
0.014
0.015 0.009
2022
2023
2024
2025
2026 Target
2026 Target: <0.02 of net produced liquids
Non-Freshwater Usage % of non-freshwater/total water used
81%
94%
Achieved 2025 target
93%
89% 65% >65%
2022
2023
2024
2025
2026 Target
2026 Target: >65% non-freshwater used for operations
2026 Corporate Sustainability Report
23 | Our Sustainability Approach
Methane Intensity mt CH4 /gross MBOE produced
0.07
0.04
0.04
0.04
0.03
2019
2020
2021
2022
20% reduction from 2024 to 0.027 mt CH4 /gross MBOE produced
2023
0.03
0.03
0.027 0.027
2024
2025
2030 Target
2030 Target: Reduce 2024 methane intensity by 20%
Autry Pad Midland Basin Midland County, Texas
2026 Corporate Sustainability Report
Our Sustainability Approach | 24
Scope 1 GHG Intensity mt CO2e/gross MBOE produced
15.1 9.5
2019
2020
9.2 8.0
2021
2022
Maintain 2024 level of 7.4 mt CO2e/gross MBOE produced
9.4
2023
7.4
6.8
7.4
2024
2025
Ongoing Target
Target: Maintain peer-leading 2024 Scope 1 GHG intensity levels
2026 Corporate Sustainability Report
25 | Environment
Hill Battery Midland Basin Midland County, Texas 2026 Corporate Sustainability Report
Environment | 26
2026 Corporate Sustainability Report
27 | Environment
Environment We minimize the environmental impact of our operations through responsible practices, regulatory compliance, and targeted infrastructure and technology investments. Beyond meeting federal, state, and local requirements, we take proactive steps to reduce emissions, manage water use, and prevent spills. Company environmental policies guide these efforts, with a focus on water stewardship, waste management, spill prevention, and responsible land use. 2026 Corporate Sustainability Report
Environment | 28
Environmental Management The Health, Safety, and Environmental (HSE) management system provides the foundation for identifying, monitoring, and mitigating environmental risks. Executive leadership determines strategy, establishes goals, and allocates resources, while the Board’s SSCR Committee provides oversight. The Environmental Director leads day-today implementation, with defined responsibilities across operational leadership. HSE’s system tracks key metrics, including flaring, methane emissions, spills, and environmental performance trends to drive proactive decision-making and continuous improvement. Continuous monitoring also helps identify emissions-related issues early for appropriate targeted interventions. Where feasible, Best Available Control Technology (BACT) is evaluated and implemented to reduce potential impacts. A strong focus on compliance with applicable environmental laws and regulations is maintained, including those related to waste handling and remediation of hazardous substances, water discharge, and air emissions. This accountability is extended to assets and operations acquired through mergers and acquisitions by conducting environmental audits for new assets in accordance with Texas’ Environmental, Health, and Safety Audit Privilege Act. Monthly internal audits and semiannual third-party inspections help identify and address potential issues. Incident responses also follow corrective action procedures, including root-cause analysis, to strengthen performance. Training and employee engagement are central to our approach. Field personnel receive ongoing instruction on environmental compliance and best practices, including
the use of advanced monitoring tools such as FLIR cameras. Specialized training programs, including emissions detection and quantification courses, are offered for employees to build technical expertise. Environmental performance is reinforced through compensation programs to motivate the executive team, senior management, and employees to achieve operations targets associated with flaring, non-freshwater use, Scope 1 GHG emissions intensity, and produced liquids spills. An enterprise-wide environmental management system supports compliance, enhances data visibility, and enables consistent tracking and reporting of environmental performance. 2025 marked one year of using auditable enterprise software to manage inspection results, providing dashboard-level visibility into site performance. This system helps identify recurring issues, prioritize capital deployment, and accelerate response to site-level needs. Inspection turnaround time has seen a significant decrease since software implementation. Established in 2023, Diamondback’s Integrated Operations Center (IOC) provides centralized, real-time monitoring across company facilities, using advanced alarms and automated notifications to respond to potential leaks. This oversight enhances workforce efficiency and enables coordinated and proactive operations, improving response times and reducing emissions. We continue to invest in IOC expansions and upgrades to improve operations monitoring and response.
Hill Battery Midland Basin Midland County, Texas
2026 Corporate Sustainability Report
29 | Environment
Hill Pad Midland Basin Midland County, Texas
Water Water is a critical resource for both our operations and the communities where we operate, and we are committed to managing it responsibly. In 2025, 89% of water usage was from non-freshwater sources, exceeding our goal of sourcing more than 65% of water used in drilling and completion activities from non-freshwater sources by 2025. Water stewardship is embedded in planning and operational decisions. We prioritize drilling in areas where water infrastructure is already established, reducing new surface disturbance and improving operational efficiency. Advanced planning at least 180 days prior to drilling is conducted to optimize location selection and minimize environmental impact. 2026 Corporate Sustainability Report
Senior leadership, including our Chief Operating Officer and Executive Vice President of Operations, guides this approach and considers the realities of operating in a water-scarce region. To reduce reliance on freshwater, non-freshwater usage, including recycled produced water and brackish (non-potable) water, is prioritized. Brackish water, defined per AXPC standards as water exceeding 1,000 parts per million of total dissolved solids, is used where available and economically feasible, conserving freshwater resources better suited for agricultural and municipal use. Tools, such as World Resources Institute’s (WRI) Aqueduct Water Risk Atlas, inform long-term water sourcing decisions and manage regional water risks.
Environment | 30
We actively collaborate with industry organizations, including the Texas Produced Water Consortium and Permian Basin Water Management Council, to advance responsible water management practices at scale. Additional details are available in the latest CDP Questionnaire response here. Operations design minimizes wastewater generation and avoids surface discharge from drilling-related activities. Drilling-related wastewater is never discharged to surface water bodies. Instead, all wastewater is reused or injected
1
into disposal wells. When possible, water is treated on site, and drilling fluids are reused. In 2025, more than 98% of produced water, a waste byproduct of oil and gas extraction, was transported via pipeline, reducing spill risk and minimizing truck traffic. Any releases are investigated as part of our continuous improvement process. Since Diamondback operations do not discharge wastewater to a treatment plant, sewer, or industrial outfall, we do not generate effluent as defined by the Environmental Protection Agency (EPA).1
The Environmental Protection Agency defines Effluent as “Wastewater, treated or untreated, that flows out of a treatment plant, sewer or industrial outfall.”
2026 Corporate Sustainability Report
31 | Environment
Diamondback Acreage Over WRI’s Aqueduct Water Risk Atlas
Gaines
Dawson
Borden
Scurry
Andrews
Martin
Howard
Mitchell
Lea Eddy
Ector
Winkler
Loving
Glasscock
Midland
Sterling
Culberson Tom Green
Ward Crane
Upton
Reagan
Reeves
Irion
Low(<10%) (<10 %) Low
Pecos
Low - Medium (10-20%) Low-Medium
Crockett
High High(40-80%) (40-80%) Jeff Davis High Extremely Extremely High(>80%) (>80%)
Arid LowWater WaterUse Use Aridand & Low Diamondback Diamondback
Terrell
Brewster
Recycled/Brackish Water Usage 0.30
300,000
30,000
0.25
250,000
25,000
0.20
20,000 0.15 15,000 0.10
10,000
0.05
5,000 0
0.00
2020
2021
2022
Freshwater used in operations
2026 Corporate Sustainability Report
2023
2024
2025
Freshwater intensity (AXPC-defined)
Water used in operations (MBBL)
35,000
Freshwater intensity (MBBL/gross MBOE)
Freshwater used in operations (MBBL)
Freshwater Usage
200,000
150,000
100,000
50,000
0
2020
2021
2022
Brackish water used in operations
2023
2024
2025
Recycled water used in operations
Environment | 32
Spill Prevention Preventing fluid releases is a core component of protecting our employees, communities, and environment. We aim to outperform industry benchmarks in wastewater management and implement comprehensive Spill Prevention, Control, and Countermeasure (SPCC) practices across our operations. In 2025, a net spill rate of 0.014 barrels per thousand barrels produced was achieved, exceeding the company target of less than 0.02 of net produced liquid spills. Continuous improvement in spill prevention processes and systems focuses on installing properly designed equipment, conducting routine inspections, maintaining a robust preventative maintenance program, and reinforcing proper handling procedures among employees. In addition, automation systems include real-time monitoring and centralized controls to quickly identify potential issues and, if necessary, shut down operations to prevent or limit releases. A cross-functional spill performance team meets monthly to review incidents, assess root causes, and identify trends. Using a centralized data dashboard, the team develops targeted,
data-driven recommendations, including design improvements, enhanced maintenance, and operational adjustments to prevent recurrence. Spill prevention and performance are also reviewed weekly with senior management, reinforcing accountability and visibility at the organization’s highest levels. New facilities are evaluated to implement appropriate SPCC plans for locations not specifically covered by applicable regulations. Operational requirements and equipment specifications are standardized across our asset base. Third-party transfer service providers are required to conduct leak and pressure testing on pipelines prior to completion activities to support system integrity. Most existing horizontal batteries and all new units are equipped with lined secondary containment systems designed to capture and recover released fluids. These centralized systems are used in oil and gas production to store, separate, and process fluids. This added containment mitigates risk, delivering a proactive, system-wide approach to spill prevention and continuous improvement.
939
HYDROCARBON SPILLS
5,457
HYDROCARBON VOLUMES (BBLs)
63%
HYDROCARBON VOLUMES RECOVERED
277
PRODUCED WATER SPILLS
30,502
PRODUCED WATER VOLUMES (BBLs)
65%
PRODUCED WATER VOLUMES RECOVERED
Spill Prevention Technologies
Spill Recovery
An incident reporting system enables employees and contractors to quickly report potential spills for rapid response and remediation. The IOC provides centralized visibility of facilities to support these efforts. Layered operational safeguards are also used. Storage tanks are equipped with high-liquid-level alarms allowing timely remote intervention. In addition, high-level “well-kill” systems provide an automatic shutdown mechanism, shutting in wells to prevent tank overflows if critical thresholds are reached.
In 2025, we recovered ~65% of hydrocarbon and produced water spill volumes. While every effort is made to avoid spills, if a release occurs, the priority is to promptly capture and recover liquids, return them to containment, where appropriate, and minimize potential environmental impact around the facility. All spills and recoveries are recorded. Senior management regularly reviews this data, comparing current and past outcomes to targets. To meet or exceed regulatory standards for soil remediation, Diamondback partners with third-party contractors who leverage proven techniques and test soil with certified laboratories to achieve closure requirements. Our goal is to leave land we operate on the same as, or better than, when we arrived.
These protections are enhanced by advanced facility automation. Lease operations personnel are equipped with real-time visibility into tank levels and production data through mobile and desktop platforms, enabling faster decision-making and proactive risk management.
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Waste We work to reduce and responsibly manage waste across operations, primarily focusing on drilling activities, where most waste is generated. Since 2021, Diamondback has developed and expanded the use of water-based drilling fluids (WBDF), decreasing oil-based mud (OBM) in drilling operations. Compared with OBM, WBDF reduces trucking requirements for drilling fluids transportation and limits the use of certain hazardous chemicals in fluid formulations and pit treatments. Approximately 6% of Permian Basin wells we drill still require OBM. When used, OBM cuttings are treated onsite to remove total petroleum hydrocarbon (TPH), reducing TPH levels below 1% before disposal through an approved deep burial process. Treating cuttings onsite reduces trucks needed for transport to disposal facilities and exceeds current industry baseline standards.
2026 Corporate Sustainability Report
During completions, we seek to maximize utilization of remaining drilling water, which reduces waste volume for disposal. This process helps meet the company’s recycled water goal and, since its 2024 implementation, has reduced the volume of trucks required to haul drilling water for disposal. The efficiency of hydrogen sulfide (H2S) scavenger use has improved, enhancing treatment effectiveness and lowering cost per molecule removed. A continuous H2S monitoring and management system prevents flaring at a lower cost than comparable industry solutions. Geolocated gasmonitoring devices are internet-connected and equipped with integrated communications, transmitting critical safety data, such as gas detection alarms, around the clock. Information is immediately accessible through an internal portal for real-time monitoring and enhanced site security.
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Hill Pad Midland Basin Midland County, Texas
Managing Seismicity In compliance with applicable federal and state regulations, underground injection may be used to dispose of unrecyclable produced water. In response to research examining a possible association between deep injection and minor seismic activity (i.e., induced seismicity), Diamondback has invested in advanced seismic monitoring systems to track and analyze potential events. System data informs disposal site selection and broader risk assessments and is shared with university researchers and state agencies to expand scientific understanding and regulatory efforts.
Seismic Response Protocols guide seismic risk screening, monitor active operations, and outline a communications response plan, strengthening our ability to mitigate seismicity. Protocols are supported by industry-leading risk screening studies and site assessments conducted across all subsurface Midland Basin operations. Regular dialogue is maintained with industry partners and the Texas Railroad Commission (TRRC) to proactively implement operational changes throughout the Basin when necessary.
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35 | Environment
Land Use & Biodiversity Diamondback aims to protect biodiversity and minimize the environmental impacts of our operations. The Senior Vice President of Government Affairs alongside the Executive Vice President and Chief Legal and Administrative Officer oversee biodiversity initiatives. We partner with landowners, regulatory agencies, local government representatives, and other stakeholders to create natural resource management plans that help reduce ecosystem disturbances and restore habitats affected by our activities. The Surface Land team reviews satellite imagery of
proposed well and battery sites to proactively identify potential biodiversity impacts, such as sensitive topographical features which may warrant avoidance. Reviews are followed by on-site assessments to capture environmental considerations not visible from satellite data. To minimize land disturbance, existing pad and infrastructure usage is prioritized when feasible. We also increase wells per pad and utilize longer laterals to access larger reservoir areas while reducing our surface footprint. Comprehensive policies and procedures are maintained to guide site remediation and maintain long-term environmental stewardship once operations are complete.
Increasing wells per pad is one way we reduce land disturbance.
Proactive Monitoring of Inactive Wells
Beginning in 2025, we implemented a proactive program to monitor inactive and shut-in wells, going beyond TRRC requirements to help protect the environment and groundwater resources. TRRC rules require fluid level checks after one year of inactivity and pressure testing after five years. Our program goes further.
2026 Corporate Sustainability Report
Assessments are conducted earlier – even for wells not yet subject to mandated testing timelines – to identify potential issues sooner and prioritize higherrisk wells. By taking these additional steps ahead of required compliance, we aim to support wellbore integrity and reduce the risk of emissions and environmental impact.
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Reclamation & Restoration
A three-step process is utilized to plug and reclaim wellbores and pad sites when a well reaches the end of its productive life.
01
Downhole production equipment is removed. The wellbore is temporarily abandoned by plugging the production casing above the top perforations and closing all surface valves. This creates redundant barriers to prevent reservoir fluids from flowing to surface.
02
The well is plugged and abandoned. We aim to exceed TRRC requirements by executing this on at least 10% of inactive wellbores each year.
03
In consultation with landowners, well pad surface is remediated, reclaiming the site according to owner preference. Materials from pad and access road removal are reused to repair other lease roads. Land previously occupied by the lease road and well pad is reseeded or left bare, according to landowner’s preference.
Our plug and abandonment procedures exceed regulatory requirements by installing thicker cement plugs, setting more plugs than mandated, and allowing additional curing time to support long-term integrity.
Endangered Species
Land Reclamation in 2025
Before entering new areas, systematic assessments are conducted to avoid operating where threatened or endangered species are known to be present. If protected species or habitats are identified, qualified third-party experts are engaged to mitigate potential impacts. Since 2021, Diamondback has been enrolled in a Candidate Conservation Agreement with Assurances (CCAA) through the U.S. Fish & Wildlife Service to support conservation efforts for the Dunes Sagebrush Lizard.
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37 | Safety
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Fox Hollow Battery Midland Basin Midland County, Texas
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39 | Safety
Safety Protecting the health and safety of our employees, communities, business partners, and the environment is our top priority. Safety is a core element of our culture and corporate responsibility strategy, supported by strong teamwork and open communication, and embedded across all aspects of our operations – from preventing workplace incidents to preparing for unexpected events.
Fox Hollow Battery Midland Basin Midland County, Texas 2026 Corporate Sustainability Report
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A systematic approach is taken to identify, assess, and manage safety and business continuity risks. We maintain compliance with applicable HSE laws, regulations, and standards. Executive leadership sets HSE goals, provides oversight, and drives accountability across the organization, while senior leaders monitor safety performance to address issues proactively. Executive management engages regularly with operations personnel through quarterly forums to review performance, discuss operational challenges, and align on priorities. The Board’s SSCR Committee also provides oversight of company safety practices and HSE program effectiveness. Safety remains a key component of our annual incentive compensation program and a core focus of leadership at all levels of the organization. The HSE organization includes full-time, field-dedicated coordinators who support operations with identifying and mitigating potential safety risks. Employees across all levels are engaged through a Safety Committee, which strengthens the company’s safety culture by: • • • •
Recommending safety program enhancements; Identifying preventative measures based on reviews of vehicle and personnel incidents; Conducting safety and environmental reviews at operational sites; and Supporting implementation of Diamondback’s Hazard Communication Program.
Comprehensive employee training and new-hire orientation covering environmental, safety, and reporting requirements are HSE program features. Ongoing instruction is delivered by the Operations Training team, including mandatory annual Occupational Safety and Health Administration (OSHA)-aligned training for all field personnel. Thirdparty providers deliver specialized instruction, such as cardiopulmonary resuscitation (CPR) courses. All operations employees complete annual training aligned with International Association of Oil and Gas Producers’ Life Saving Rules and applicable American Petroleum Institute safety standards. Diamondback is also an Onshore Safety Alliance member, a voluntary industry coalition seeking to reduce injuries and fatalities in U.S. onshore oil and gas operations. Hands-on field trainings reinforce structured learning in real-world settings. These efforts are integrated within a comprehensive HSE management system facilitated by robust operating procedures and guidelines to identify, assess, and mitigate risks and support safe operations. A centralized health and safety management platform captures real-time data from field personnel on observations, near-misses, and incidents, including field reports via mobile devices. This gives operations teams visibility into leading and lagging indicators, enabling trend identification, risk prioritization, and targeted training and prevention efforts. HSE and Operations teams leverage insights to strengthen organization safety, quality, efficiency, and continuous improvement.
Integrated Operations Center
Diamondback’s Integrated Operations Center (IOC) delivers 24/7 real-time monitoring capabilities, including Supervisory Control and Data Acquisition systems, vehicle tracking technology, and multi-gas personal monitors for rapid response and informed decision making.
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41 | Safety
Supervisors conduct regular field site visits and ride-alongs to monitor conditions and reinforce safe practices. Thirdparty health and safety audits are regularly conducted at production facilities. Training for HSE personnel emphasizes behavior-based, employee-driven safety practices, further supported through routine safety meetings. In 2025, 11 OSHA-reportable incidents were recorded, resulting in a total recordable incident rate (TRIR) of 0.62, above our target of 0.25. Non-contributing moving vehicle accidents accounted for five incidents. While each incident was reviewed and corrective actions were implemented, the results underscore the importance of maintaining a strong safety culture and continuous caution across our operations. Lessons learned were incorporated into safety meetings, training materials, and operational procedures to help prevent recurrence. Excluding non-contributing vehicle accidents, the adjusted TRIR would have been 0.34. However, we evaluate all incidents as opportunities to strengthen performance and improve workplace safety.
Identifying Potential Hazards Timely identification and reporting of potential risks are critical to prevent incidents and maintain a safe operating environment. To proactively reduce risk and enhance safety outcomes, we employ advanced tracking systems and work closely with regulatory agencies. Field personnel are key, as they are often the first to identify potential hazards and improvement opportunities.
Stop Work Authority
Every employee and anyone on a company worksite can exercise Stop Work Authority (SWA). This pauses work to address unsafe conditions or behaviors and clarify safety or operational concerns. Workforce engagement with SWA reinforces timely hazard recognition and intervention.
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Real-Time Safety Monitoring
In 2025, Diamondback upgraded from standard G6 singlegas H2S detectors to advanced G7 MultiGas Personal Monitors. This added sensors for oxygen, carbon monoxide, and explosive gases, broadening protection and increasing functionality. In combination with IOC’s escalating alarm system, EXO portable monitors now provide real-time, cloud-based alerts at production sites. This real-time connectivity enables faster emergency response and enhances field worker safety.
Vehicle Safety
Safe driving is critical for our business. All Diamondback drivers complete classroom and on-road training with certified instructors. Real-world training scenarios, including traffic, weather, and dynamic driving conditions, empower drivers to implement learned skills on the job. Fleet safety is continuously improved through training and monitoring technologies. To track and individually pinpoint driving habits, Diamondback’s Driving Management System and In-Vehicle Monitoring System (IVMS) are installed in company-owned and leased vehicles. All company vehicle drivers receive annual safety training and semi-annual driving record checks. Drivers involved in incidents must undergo additional training. Supported by IVMS, a driver recognition program was piloted in 2025 to improve safety and reduce risky driving behaviors. External-facing vehicle cameras monitor driver behaviors, including speed, acceleration, braking, cornering, and tailgating. Internal-facing cameras, activated based on driving performance or contributing crashes, are in all pool vehicles. Monthly, quarterly, and annual rewards recognize positive driving behaviors. Driver behaviors improved by more than 60% during the 12-month pilot, and this program is now rolling out across our operations.
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Contractor Safety Contractors working with Diamondback must operate in full compliance with all applicable laws, regulations, and safety requirements, including established policies, procedures, and industry standards. The company’s Master Service Agreement formalizes these expectations and is regularly reviewed and updated to reflect evolving safety practices and operational priorities. A rigorous evaluation process selects and retains contractors, assessing factors such as the presence of a formal safety program and written safety manual, employee background screening practices, and personal protective equipment (PPE) requirements. We also collaborate with Veriforce to collect and analyze contractor safety data across our operations. Using advanced analytics, including machine-learning and predictivemodeling, Veriforce assesses the likelihood of future safety incidents for more proactive risk management. Contractors submit updated safety information quarterly, which is scored through Veriforce’s system for ongoing performance visibility. Contractors failing to meet safety expectations may be subject to corrective action plans, including potential disqualification from working with Diamondback.
Trident Award Recipients Diamondback’s Trident Award recognizes teams for outstanding safety performance on an annual basis. Performance is evaluated using environmental protection, driver safety, and injury prevention metrics. This program promotes continuous improvement, encourages accountability, and fosters a spirit of friendly competition in pursuit of operational excellence.
TRIDENT AWARD RECIPIENTS TEAM MANAGERS
Andy Chalker, Superintendent Billy Brookshire, Sr. Production Foreman Josh Clemmer, Sr. Production Foreman Mark Ramos, Production Foreman
Wade Johnson, Superintendent Perry Jamison, Sr. Production Foreman Bill Thompson, Sr. Production Foreman Cody Clement, Production Foreman 2026 Corporate Sustainability Report
43 | Safety
Emergency Response Program Our operations may be exposed to a range of risks, including natural disasters, accidental releases, and security threats. To support preparedness and resilience, comprehensive emergency response plans are tailored to credible scenarios and specific operating conditions. Plans are developed in coordination with local authorities, including law enforcement, fire departments, and emergency medical services and reviewed annually, or more frequently as conditions change. Every corporate and field location maintains a site-specific plan with response protocols and evacuation procedures, supported by trained personnel responsible for assisting during emergencies.
2026 Corporate Sustainability Report
Annual drills reinforce readiness and effective execution. Diamondback’s emergency response program was bolstered in 2025 through reimplementation of a 24-member rapid response team, strategically positioned across all operations. Team members respond to public endangerment or life-saving rescues when activated through IOC health and safety protocols. They receive advanced training and equipment, including Hazardous Waste and Emergency Response certification, Immediately Dangerous to Life and Health emergency rescue training, enhanced H2S and Lower Explosive Limit response training, and Self-Contained Breathing Apparatus fit testing. A Respirator Protection Team is trained in hydrogen sulfide incident response. The team is equipped to perform initial system isolation, respond to emergency “man down” situations, and coordinate incident response efforts to
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protect affected individuals and responders. The SSCR Committee provides emergency response program oversight, with management accountability shared across key leadership roles, including the Environmental Director, Deputy General Counsel, and Chief Operating Officer. To uphold transparency and responsiveness, toll-free contact lines for stakeholders are posted near company operations. All inquiries are routed through a centralized system to HSE, Legal, and Security teams for tracking and resolution. While most operations are in remote areas, additional precautions are taken with operations near communities. Automated monitoring systems are installed at facilities in more populated areas to enhance early detection, response, and security.
Maintaining Secure Facilities & Operations Advanced technologies and best practices established by the Security team protect personnel and operations. Weatherization actions across gas infrastructure and wells strengthen our resilience against extreme weather. Unannounced field inspections, facility and vehicle checks, and on-site drug and alcohol screenings for all personnel are conducted routinely. Our largest sites are gate secured 24/7 to restrict access to authorized personnel only. Emerging security technologies continue to be evaluated, including piloting AI-enabled camera systems.
West Tex Harvey Battery Midland Basin Midland County, Texas 2026 Corporate Sustainability Report
45 | Human Capital
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Human Capital | 46
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47 | Human Capital
Diamondback Honor & Serve Luncheon Odessa, TX
Human Capital Our people are central to our ability to operate safely, reliably, and responsibly. We focus on fostering a culture defined by clarity, efficiency, collaboration, and inclusion, where employees understand expectations, feel respected, and have opportunities to contribute and grow. Five core values guide how we work, lead, and collaborate. How we achieve results is as important as the results themselves. Whether in the office, field, or community, employees are expected to act with integrity and treat others with dignity and respect. Diamondback’s Board of Directors provides human capital strategy oversight with assistance from Board committees.
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The SSCR Committee oversees recruiting, retention, training and development, corporate culture, and employee engagement initiatives. The Compensation Committee oversees executive compensation and succession planning to ensure leadership continuity and long-term strategy alignment. The committees receive regular updates from executive leadership, senior management, and external advisors on human capital trends and risks. This structure supports accountability for effective workforce management and culture growth aligned with our strategic priorities.
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Recruiting We work to attract, develop, and retain a highly skilled and engaged workforce for long-term growth. In 2025, targeted outreach, community partnerships, and expanded engagement with academic institutions leveled up the company’s recruitment strategy to strengthen our talent pipeline. College recruiting and local hiring efforts remained a priority. Teams attended career fairs and participated in engagement events at regional two-year technical and community colleges. Recruiting experienced professionals continues to be key to bring top talent into the organization. The company’s internship program remains foundational to our long-term talent strategy, particularly for engineering and geoscience roles. In summer 2025, we welcomed 34 interns across 16 departments. In 2026, 62% of those interns rejoined Diamondback for full-time roles or return internships. Introducing students to our industry and community energizes our early-career talent pipeline.
Mentorship Program
Each summer intern is paired with a mentor who provides guidance, support, and coaching throughout the internship experience. Interns are assigned a summer project and present their work to employees and executive leadership at program end. Mentors actively advise interns on their project approach and presentation development.
Key 2025 Talent Pipeline Initiatives Career Fairs
Participated in Texas career fairs, including Midland and Odessa, and United States markets, including Oklahoma.
College Partnerships
Partnered with Odessa College, The University of Texas Permian Basin, and Midland College for field operations training programs, with the goal of recruiting students into future roles.
Program Development
Expanded Midland College automation program collaboration through faculty site visits, knowledge sharing, and Career and Technical Education curriculum design contributions.
Military Recruiting
Worked with Permian Warrior Partnership, a local veteran nonprofit, to identify veteran candidates and increased outreach at Fort Bliss, Fort Cavazos, and Camp Pendleton.
New engineering graduates participate in our CORE (Career Optimization and Refinement for Engineers) program, structured training to build foundational technical skills and accelerate early career development. New engineers are also paired with mentors to deepen their knowledge, strengthen key competencies, and navigate transitioning to professional roles.
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Engagement & Retention We are committed to maintaining open communication with employees and actively seek their input to shape a positive, collaborative, and supportive workplace. Each quarter, company wide town hall meetings are hosted. Employees submit questions in advance for leadership to address topics mattering most to our workforce. During meetings held twice a year, executives from the Operations team celebrate employees demonstrating excellence, safety performance, and teamwork to show appreciation and reward accountability. The Human Resources team also conducts periodic pulse surveys with employees and leaders to monitor engagement, satisfaction, and overall workplace experience. Survey insights have informed actions to improve culture, communication, and employee development. In 2025, our total attrition rate was ~19%, which includes Endeavor Energy Resources’ remaining integration efforts and asset divestitures. Excluding these factors, our adjusted
attrition rate was ~8%, demonstrating continued success in retaining employees and maintaining workforce stability. Our ability to retain talent is supported by our corporate culture, which emphasizes inclusion, teamwork, and a strong commitment to employee development and career advancement.
Inclusion
Our employees are key to our success. Fostering an environment which enables them to thrive is fundamental to how we operate. As outlined in the company’s People Policies Handbook, we uphold equal opportunity in all employment aspects. We value employees’ varied perspectives, experiences, and ideas. Employment decisions are based on merit, qualifications, competencies, and contributions. By embracing these principles, we strengthen our culture and ensure current and future employees feel welcomed and empowered to succeed.
Diamondback Operations Safety Meeting Midland, TX 2026 Corporate Sustainability Report
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Training & Development Continuous learning and professional growth are encouraged across all levels of the organization. Company training and development programs expand knowledge, build technical and leadership capabilities, and prepare employees for long-term career progression. On the job, hands-on learning experiences are underscored for employees to apply new skills in realtime and build competencies. One example is the CORE program, providing new engineers with exposure to multiple roles before transitioning into a specialized position. Additionally, we offer all employees a range of development opportunities, including general skills training, leadership development, technical instruction, and health, safety, and environmental training. Training offerings continue expanding through partnerships with LinkedIn Learning, WellSite LMS, and other providers. All employees complete mandatory training on Diamondback’s Code of Business Conduct & Ethics and People Policies Handbook upon hire and as updates are implemented. Employees also receive training on regulatory compliance, industry standards, environmental and social responsibility, and quarterly cybersecurity awareness.
We continue investing in programs to strengthen leadership capabilities and support organization-wide collaboration. Courses range from relationship building and team effectiveness to technical skills, such as Microsoft Excel.
Performance Management
Consistent, meaningful performance conversations are essential to employee development and core values alignment. Each year, all employees participate in a formal performance review with their managers, with goal setting discussions encouraged, to clarify expectations and drive individual success. To reinforce progress throughout the year, we conduct informal mid year check-ins on goal alignment, development needs, and ongoing feedback. These conversations, coupled with an open door culture, help leaders stay connected with their teams, recognize exceptional performance, and provide timely guidance when needed. They also hold career aspiration discussions to identify ways the company can support each employee’s long-term growth and advancement.
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51 | Human Capital
Total Rewards & Benefits Diamondback’s total rewards philosophy supports employee well-being, engagement, and long-term success while reinforcing the culture we strive to uphold. Our comprehensive approach emphasizes value and alignment with organizational priorities. To uphold competitive compensation offerings, we participate in industry specific benchmarking and regularly review our programs against peer organizations. For non-executive employees, compensation packages include base salary plus discretionary performance-based annual and long-term equity incentives. These components reward performance, assist retention, and align employee and stockholder interests. Stock ownership opportunities are extended to all employees, reflecting our belief that shared ownership amplifies collective commitment to long-term value creation. A comprehensive suite of health and wellness benefits is offered. Diamondback fully covers medical, dental, and vision insurance premiums for employees and dependents. Employer-paid life insurance coverage is also provided for employees. A company match is given for 401(k) retirement savings, with immediate vesting. Both pre-tax and Roth contribution options are offered for employees’ individual financial planning needs. Our broader benefits program includes 2: • • • • • • • • • •
Diamondback Family Clinic Sprouts Energy Learning Center Supplemental insurance plans Health savings and flexible spending accounts Paid time off Education assistance Adoption assistance Gym reimbursement Work-from-home days Volunteer time off
• • • • • •
Extended time off Paid parental leave Fertility support Mental health support, including onsite behavioral health provider and onsite chaplain team Service awards, recognizing major service milestones Diamondback Rewards program for supervisors to recognize performance, teamwork, and collaboration through redeemable points
Together, these programs encourage the holistic well-being of our workforce and create an environment where employees feel valued, supported, and connected to Diamondback’s long-term success.
Workplace Flexibility
Supporting work-life balance is essential to employee well-being and long-term engagement. Our workplace flexibility practices help employees manage personal responsibilities while maintaining top-tier performance and safety. With the company’s flexible schedule policy, employees work eight 9-hour days and two 4-hour Fridays in a standard two week pay period for additional personal time. Paid volunteer time, adoption assistance, and a competitive parental leave program are also offered. Paid parental leave is provided following a child’s birth or adoption, giving families meaningful time to bond and adjust. In addition, our work from home policy continues providing eligible office based employees a bank of remote workdays each year. Employees are empowered to balance professional and personal commitments while maintaining our culture of collaboration and connection. Our benefits program is available to regular, full-time employees working a minimum of 30 hours per week (excluding interns). Eligibility does not differ by role, employment classification or location, and all eligible employees are offered the same benefits package. Diamondback may modify or discontinue any benefit program at any time, with or without notice, as permitted by law.
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Autry Pad Midland Basin Midland County, Texas
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53 | Communities
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Communities | 54
OKC Giving Week Regional Food Bank of Oklahoma Oklahoma City, OK 2026 Corporate Sustainability Report
55 | Communities
Tree Planting Day with City of Midland & Keep Midland Beautiful Midland, TX
Communities Diamondback seeks to build strong, long-term partnerships in the communities where we operate, proactively engaging to create shared value over time.
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Community Engagement The Senior Vice President of Government Affairs oversees community relations programs. The Government Affairs team identifies and regularly engages with key stakeholders, including elected officials, educators, first responders, and community leaders. We seek to engage stakeholders early when planning new or expanded projects, including on-site visits with property owners, when appropriate. While most of our operations are in remote areas, we take additional care when operating near populated areas. We strive to be a safe, responsible, and respectful neighbor and minimize our footprint through focused operations and proactive actions to address potential community concerns. Measures include using sound walls to reduce noise and visual effects and coordinating with local officials and regulators to promote transparency. We also engage with groundwater conservation boards in outlying areas and take care to avoid disrupting local events or community priorities. Collaboration with local first responders supports emergency response efforts at our sites and in surrounding areas. City council meetings are attended to stay informed on local government and community initiatives and identify partnership opportunities. In addition, a toll-free phone number is posted at every property and monitored 24/7 for community members to raise concerns at any time. All calls are logged, routed to the appropriate internal teams, and fully investigated.
Economic Impact Diamondback operations give back to local communities through taxes, 1,762 jobs provided as of year-end 2025, and hundreds of additional jobs in our service vendor network. In 2025, the company distributed ~$3.9 billion in royalties to mineral and royalty interest owners and paid ~$851 million in state production and ad valorem taxes. Local suppliers are partnered with, when possible, to further community impact. By focusing procurement activities on the Permian Basin, we support local service providers, contractors, and suppliers while building collaborations contributing to regional economic growth and employment.
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Community Development & Investment Community support is fundamental to our values and the way we work. We invest time, resources, and care in long-term community development programs, with a focus on public education, workforce readiness, healthcare, road safety, first responders, and quality-of-life initiatives. Local and regional partners help us pinpoint community needs, invest in programs with measurable impact, and monitor participation and outcomes to guide future ventures.
Corporate Philanthropy
Our community commitment in 2025 included ~$3.6 million in local philanthropic donations plus an additional $5.6 million through our multi-year Midland commitment.
Permian Strategic Partnership
We continued our support for the Permian Strategic Partnership (PSP), a coalition co-founded in 2018 by Diamondback, with a $2.6 million donation in 2025. PSP brings together leading Permian Basin companies and university systems to advance education, healthcare, workforce development, and road safety in the Permian across New Mexico and Texas. Our 2025 efforts, in coordination with PSP, benefited: • Holdsworth Center Aspiring Principal Program • Regional First Responder Training in Texas and New Mexico • Artesia High School Career Technical Education Pathways • Texas Tech Pediatric Residency
OKC Giving Week Regional Food Bank of Oklahoma Oklahoma City, OK 2026 Corporate Sustainability Report
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Long-Term Community Development Projects 2025 Milestones
Midland Athletic Syndicate
We completed our $7.5 million pledge for principal building construction of the new Midland Athletic Syndicate facility, which includes an indoor field and courts for local sports and tournaments. Construction was completed in June 2026.
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Texas A&M Engineering Academy at Midland College
Diamondback committed $1.5 million over five years to sponsor the Texas A&M Engineering Academy at Midland College. Local students can begin engineering studies through co-enrollment at Midland College and Texas A&M University (TAMU), benefiting from smaller class sizes and more affordable tuition for their first two years before transferring to TAMU’s College Station campus.
The Kerr County Flood Relief Fund
Following the Guadalupe River floods in summer 2025, Diamondback donated $250,000 to a relief fund managed by the Community Foundation of the Texas Hill Country to benefit communities across Hunt, Ingram, Kerrville, Center Point, and Comfort. Donations facilitated rapid relief for families, small businesses, first responders, and crisis operations. After the initial response, the foundation transitioned to coordinated, multi-year recovery efforts focused on housing, mental health, community restoration, and long-term resilience.
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Employee Volunteerism & Charitable Giving Volunteerism and charitable giving are embedded in our culture. Our employees come together to give back to communities where we live and work. Diamondback’s Employee Charitable Gift Matching Program matches employee donations $1-for-$1 to registered non-profits, with local contributions matched $2-for-$1. Employees also receive two paid volunteer days each year. 2025 initiatives included:
DNA Mentorship Program Diamondback’s DNA Mentorship Program paired company engineers with first-year Texas A&M Engineering Academy students to provide guidance on academic pathways and engineering careers. The program was also introduced in Midland College’s Instrumentation & Electrical (I&E) Program. Mentors
2026 Corporate Sustainability Report
visit the classroom monthly for hands-on learning in instrumentation and electrical fields. The partnership aligns curriculum to real-world scenarios, enhances workforce readiness, and addresses growing demand for automation talent. To date, the program has supported over 160 automation students.
STEM Labs
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Diamondback’s STEM (Science, Technology, Engineering and Mathematics) Lab powered by syGlass expanded to a third local high school, providing immersive learning in anatomy and physiology, environmental science, and neuroscience through virtual reality technology. Students learn from professors at acclaimed universities while contributing to research and development at a collegiate level. This STEM network expansion added 77 dual-credit seats and now provides 287 students with a state-of-the-art learning environment.
Rolling Baristas
For a third year, the company partnered with Midland Independent School District’s Special Services Department to coordinate Diamondback’s Rolling Baristas Program. This initiative provides opportunities for students with disabilities to develop work-readiness skills. Twice a week during the school year, students serve coffee and refreshments at our Midland headquarters while engaging with visitors and employees. The program has supported 150 local students.
Reading Buddies
In collaboration with three Midland elementary schools and Oklahoma City’s education foundation, Diamondback’s Reading Buddy Program serves 155 students with low literacy or language acquisition. Over 50 employee volunteers read with students weekly or bi-weekly to explore books and develop relationships.
Robotics Mentorship
The company’s Robotics Mentorship Program partners with a local secondary school to build collaborative robotics teams aligned with the FIRST Tech Challenge (FTC), while students strengthen teamwork and presentation skills. Teams advanced to area and state championships and won multiple district and area competition awards. Over 90% of students report increased confidence in pursuing STEM careers, and alumni have returned as mentors in other Diamondback education programs. 2026 Corporate Sustainability Report
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Career Connections
Sixty Diamondback employees provided year-long mentorship to local secondary school students, focusing on college and career readiness through Diamondback’s Career Connections Mentorship Program.
Coats for Kids
Since 2020, the company has donated back-to-school kits, and this year donated more than 300 winter coats for every student at an underserved Oklahoma City elementary school.
Tree Planting
Employees planted 200 trees in Midland public parks in underserved areas, with irrigation installed for long-term support.
First Responders Luncheon
In its seventh year, the annual First Responders Appreciation Luncheon celebrated over 500 first responders.
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Habitat for Humanity
Over five days, more than 90 Diamondback employees rolled up their sleeves to build a new home with Midland Habitat for Humanity.
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65 | Ethics & Integrity
Fox Hollow Battery Midland Basin Midland County, Texas
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67 | Ethics & Integrity
Ethics & Integrity As one of Diamondback’s core values, integrity is the bedrock of all organization operations. We are committed to conducting business in accordance with high ethical standards and in compliance with applicable laws, rules, and regulations. This commitment guides our decisions, shapes our interactions, and supports stakeholder trust.
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Ethics & Integrity | 68
The company’s compliance program is structured around six principal components to align with core values and promote ethical conduct: • • • • • •
Organizational leadership Standards and procedures Efforts to exclude bad actors from positions of authority Training and education Program monitoring, auditing, and evaluation Appropriate disciplinary and remedial actions
Organizational Leadership
The Board of Directors maintains ultimate oversight of the compliance program, with day-to-day responsibility delegated to the Chief Executive Officer, Chief Legal and Administrative Officer, and Senior Vice President of Human Resources. The Chief Executive Officer plays a key role in promoting and modeling a culture of transparency, integrity, and compliance.
Standards and Procedures
Diamondback’s Code of Business Conduct and Ethics (the Code) applies to all directors, executive officers, and employees. It reflects our commitment to act in accordance with company core values, applicable laws, rules, regulations, and ethical standards. The Code was updated in February 2026 to include additional policies and enhancements, with subsequent Board approval. Topics include public disclosure, conflicts of interest, equal employment, fair dealing, anti-discrimination, antiharassment, confidentiality, data privacy, cybersecurity, artificial intelligence (AI), intellectual property, political activity and contributions, environmental responsibility, human rights, health and safety, and the limited process for waivers. The Code also emphasizes compliance with applicable laws, rules and regulations governing, among other things, insider trading, anti-trust, anti-corruption, anti-bribery, anti-money laundering, anti-boycott, and export controls. It establishes reporting and complaint mechanisms, including an anonymous compliance hotline for accounting, internal control, and auditing concerns. The
company’s People Policies Handbook reinforces expectations regarding conflicts of interest, safety, equal opportunity, harassment, and retaliation and outlines employee support provisions. All employees are required to review and provide written acknowledgment of these documents and their responsibility to uphold company standards.
Training and Education
Upon hiring, all employees receive training on the Code. Annual acknowledgment and compliance agreement are required by all employees. Training on specific topics addressed in the Code and other policies is offered, including workplace harassment.
Monitoring and Auditing
The compliance program incorporates internal controls intended to reasonably identify and reduce the likelihood of improper or unlawful conduct.
Reporting Violations
As affirmed in the Code and communicated to employees, individuals who suspect unethical or inappropriate conduct are required to promptly report their concerns. Employees may do so, without fear of retaliation, through internal reporting channels, including direct reporting to the Chief Legal and Administrative Officer, or through a compliance hotline. The compliance hotline is an independent, anonymous service available 24 hours a day, 365 days a year by phone at 877-769-2600. The toll-free number is posted at all job sites to encourage use by employees, contractors, suppliers, and community members. All reports are logged and forwarded to the Chief Legal and Administrative Officer and Senior Vice President of Human Resources for prompt and impartial investigation by appropriate parties, including the Board’s Audit Committee for matters involving accounting or auditing. Each report is tracked through resolution, which may include disciplinary, corrective, remediation, or preventive actions to address actual or potential violations of law, the Code, or other company policies.
2026 Corporate Sustainability Report
69 | Ethics & Integrity
Human Rights We respect and uphold the fundamental rights and dignity of every individual, regardless of race, color, national origin, citizenship, religious belief, disability, gender, gender identity, sexual orientation, age, military status, or political affiliation. For further details, see our Human Rights Policy, overseen by the SSCR Committee. This policy aligns with the United Nations Universal Declaration of Human Rights and follows UN Guiding Principles on Business and Human Rights to identify and address potential adverse operations impacts. Diamondback also upholds the International Labour Organization Declaration on Fundamental Principles and Rights at Work, including freedom of association, nondiscrimination, and elimination of forced labor and child labor. To respect the rights, laws, and values of communities where we operate, a proactive approach is taken to identify, mitigate, or eliminate potential adverse impacts. Diamondback evaluates potential human rights-related impacts as part of its operational planning and stakeholder engagement process. We are part of a Candidate Conservation Agreement with assurances for the Dunes Sagebrush Lizard covering Andrews, Crane, Ector, Gaines, and Ward counties. Positive outcomes are sought through active monitoring of our environmental footprint, community engagement, and philanthropy. When activities may affect Indigenous communities, the United Nations Declaration on the Rights of Indigenous Peoples is adhered to by upholding the principles of free, prior, and informed consent, honoring land rights, and protecting culturally-sensitive areas. Respectful, transparent engagement and open, ongoing dialogue are prioritized. Employees must complete regular training for accountability in human rights management. The company’s Code of Business Conduct and Ethics and People Policies Handbook also include policies to advance human rights. Diamondback communicates human rights expectations to business partners, suppliers, and contractors through applicable policies, contracts, and onboarding materials.
2026 Corporate Sustainability Report
Ethics & Integrity | 70
Guarding Against Cyberattacks & Breaches Protecting our employees, operations, and data is a top priority. The cybersecurity landscape is constantly evolving. To address this, a comprehensive, multilayered cybersecurity program safeguards company systems, information, and stakeholders from emerging threats.
incidents, such as theft, fraud, or unauthorized access, to the Chief Legal and Administrative Officer and the Senior Vice President and Chief Information Officer. Cybersecurity risks associated with third-party vendors are assessed with controls to manage external data access.
A cybersecurity governance program is led by the Senior Vice President and Chief Information Officer, a technology leader with more than two decades of technology leadership experience in the energy sector who oversees all aspects of Information Technology (IT), including cybersecurity, AI, infrastructure, and data protection. The Senior Vice President and Chief Information Officer and cybersecurity team, which consists of individuals holding Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA), and CompTIA Security+ designations, lead the company’s cybersecurity strategy, policy, standards, architecture, and processes. This function reports through the Chief Legal and Administrative Officer to emphasize risk management. A dedicated Incident Response team operates under a Computer Security Incident Response Plan to manage and mitigate cybersecurity events.
AI adoption and other emerging technologies create new opportunities and risks. In 2025, Diamondback introduced a responsible use policy for AI, which employees acknowledged for annual training and certification. Additional risk management practices are being evaluated as the AI program continues to mature.
Cybersecurity oversight is embedded at the organization’s highest levels. Program updates, including threat landscape developments, incident response readiness, and other ongoing initiatives, are regularly shared with executive leadership. The Board’s Audit Committee receives quarterly briefings on cybersecurity risks, controls, incidents, and training efforts. The Board also participates in ongoing education from the Senior Vice President and Chief Information Officer on relevant cybersecurity topics, including AI. A culture of awareness and accountability is underscored. All full- and part-time employees and contractors with system access are required to complete quarterly data security and cybersecurity training and receive regular awareness communications. The Code reinforces expectations for safeguarding company systems and reporting potential
At the end of 2025, Diamondback achieved 100% employee compliance on cybersecurity training. The company’s cybersecurity and data protection program is aligned with recognized industry frameworks, including National Institute of Standards and Technology’s (NIST) Cybersecurity Framework, and integrated into the broader enterprise risk management process. Performance is measured through Maturity and Risk Assessment Ratings associated with NIST’s Cybersecurity Framework and the Capability Maturity Model Integration framework. Defenses are regularly evaluated and optimized through internal monitoring, audits, and third-party assessments, including IT and Operational Technology (OT) penetration testing, new technology, and risk reviews. Cybersecurity risks related to OT and industrial control systems are managed through controls designed to separate OT and corporate networks. Privileged access is managed, and lateral movement within field-level environments is limited. In 2025, IT and OT environments were included in penetration testing and risk reviews to evaluate control effectiveness and identify improvement opportunities.
2026 Corporate Sustainability Report
71 | Ethics & Integrity
Diamondback actively collaborates with government agencies to strengthen cybersecurity posture and stay ahead of emerging threats. Ongoing information-sharing is maintained with the Cybersecurity and Infrastructure Security Agency. Regular in-person engagements are held with the Federal Bureau of Investigation’s cybersecurity division, including at least quarterly meetings targeting oil and gas sector risks. Through these partnerships, the company receives and contributes threat intelligence to bolster broader industry awareness and strengthen potential threat identification and response. Investments continue in technology, processes, and talent to recognize vulnerabilities, augment detection capabilities, and respond effectively to potential threats. Ongoing training and development equip IT and Security teams to address evolving risks, while continuous monitoring protects systems and data. The cybersecurity risk management program includes: •
Risk assessments designed to help identify material cybersecurity risks to critical systems, information,
• • • • • • •
products, services, and broader enterprise IT and OT environments. A security team principally responsible for managing cybersecurity risk assessment processes, security controls, and cybersecurity incident response. The use of external service providers, where appropriate, to assess, test, train, or assist with security controls. IT security tools protecting against and monitoring for suspicious activity. Cybersecurity awareness training for employees, including incident response personnel and senior management. Cybersecurity tabletop exercises for Cybersecurity Incident Response and Legal teams. A Cybersecurity Incident Response Plan with procedures for timely fulfillment of any disclosure obligations which may arise. A third-party risk management process for service providers, which may include diligence, assessments, and contractual requirements, depending on provider’s operational criticality and relative risk profile.
Modernizing Data Infrastructure
In 2025, Diamondback invested $45 million to modernize its data center infrastructure. The project established fully redundant primary data centers in Oklahoma City and Dallas for critical systems recovery if a significant disruption occurs. Completed in early 2026, the initiative advanced the company’s ability to quickly restore critical systems and maintain business continuity, supported by disaster recovery and incident response plans aligned with the corporate risk management framework and formal IT recovery policies and procedures.
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Ethics & Integrity | 72
Trade Associations, Lobbying & Political Involvement Diamondback’s Government Affairs team represents the interests of the organization, employees, and stakeholders at the federal, state, and local levels, and promotes informed participation in the public policy process. The team collaborates with industry organizations in Texas and Washington, D.C., to shape regulatory and public policy decisions affecting company operations. As an active member of several national, state, and regional trade associations, Diamondback advocates for issues and promotes best practices across operations, health, safety, environment, and sustainability. Trade association membership also provides opportunities to strengthen the company’s sustainability strategy and support educational and advocacy initiatives. Trade association participation oversight is managed by the Senior Vice President of Government Affairs, who serves as the principal representative in such associations. Selected associations broadly align with Diamondback’s interests, recognizing that these groups represent diverse companies and opinions which may not always match the organization’s views. Trade association membership is reviewed annually for continued relevance.
Transparency in the company’s public policy advocacy, political contributions, and related activities is prioritized. The SSCR Committee reviews and discusses these efforts with management each year, including oversight of political action committees and corporate-funded contributions. The annual review also assesses trade association memberships. For memberships costing over $25,000 annually, Diamondback makes reasonable efforts to ascertain what portions of dues go toward lobbying. Since publishing an initial annual Corporate Political Contribution Disclosure Report in 2021, Diamondback has been recognized as a first-tier company for transparency in political disclosures by the Center for Political Accountability (CPA)-Zicklin Index of Corporate Political Disclosure and Accountability. In 2025, the company achieved a trendsetter score of 90%. Framework and conduct related to corporate political contributions, PAC activities, trade association memberships and lobbying activities are established in the Policy Governing Political Contributions and Activities.
2025 Trade Association Memberships
2026 Corporate Sustainability Report
Diamondback Headquarters Midland, TX
75 | Appendix
Appendix Exploration & Production
Metric
2025
2024
2023
2022
2021
NET HYDROCARBONS PRODUCED
Footnote (a)
Oil
MBBL
181,462
123,325
96,176
81,616
81,522
Gas
MMCF
447,855
275,680
198,117
176,376
169,406
NGL
MBBL
80,073
49,700
34,217
29,880
27,246
Total Net Hydrocarbons Produced
MBOE
336,178
218,972
163,413
140,892
137,002
Average Daily Net Production
MBOE/d
921.0
598.3
447.7
386.0
375.3
PROVED RESERVES
(a)
Oil
MBBL
1,774,420
1,761,049
1,143,944
1,069,508
928,289
Gas
MMCF
5,273,821
5,024,915
2,997,422
2,868,861
2,585,807
NGL
MBBL
964,466
958,881
534,247
485,319
429,734
Total Proved Reserves
MBOE
3,617,856
3,557,416
2,177,761
2,032,971
1,788,991
PEOPLE
(b)
Employees
#
1,762
1,983
1,023
972
870
Employee Turnover
%
8%
15%
14%
13%
13%
SAFETY (Employees) OSHA Recordable Cases
#
11
11
3
6
2
OSHA Days Away from Work Cases
#
8
6
1
2
1
Total Recordable Incident Rate
per 200K hours
0.62‡
0.82
0.30
0.68
0.25
Lost Time Incident Rate
per 200K hours
0.45
0.45
0.10
0.23
0.12
#
-
-
-
-
-
Fatalities
SAFETY (Independent Contractor) “OSHA Recordable” Cases
(d) #
67
33
32
30
29
“Days Away from Work” Cases
#
22
7
4
3
10
Total Recordable Incident Rate
per 200K hours
0.82
0.44
0.28
0.34
0.49
Lost Time Incident Rate
per 200K hours
0.27
0.09
0.04
0.03
0.17
#
-
-
-
-
-
#
78
44
35
36
31
Fatalities
SAFETY (Workforce) “OSHA Recordable” Cases
(c)
(d)
“Days Away From Work” Cases
#
30
13
5
5
11
Total Recordable Incident Rate
per 200K hours
0.78
0.50
0.28
0.37
0.46
Lost Time Incident Rate
per 200K hours
0.30
0.15
0.04
0.05
0.16
#
-
-
-
-
-
#
43
36
31
32
19
per million miles
1.89
2.63
2.39
2.57
1.88
Gross Volume of Flared Hydrocarbons
MCF
16,174,421‡
11,829,738
12,857,109
7,570,244
4,542,586
Gross Gas Flared as a % of Gross Gas Production
%
2.0%
2.3%
3.4%
2.3%
1.5%
Fatalities
(c)(e)(f)
(c)
VEHICLE SAFETY Preventable Vehicle Incidents Vehicle Incident Rate
FLARING
GHG EMISSIONS
(c)(g) (c) (a)
Operated Scope 1 GHG Emissions
mt CO2e
2,388,165‡
1,781,521
1,757,044
1,487,280
1,252,665
(c)(e)(h)
Operated Scope 1 GHG Intensity
mt CO2e/Gross MBOE
6.8
7.4
9.4
9.2
8.0
(c)
Operated Scope 2 GHG Emissions
mt CO2e
1,660,486
1,286,295
953,809
674,087
528,224
(i)
Operated Scope 2 GHG Intensity
mt CO2e/Gross MBOE
4.7
5.3
5.1
4.2
3.4
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‡
Appendix | 76
Exploration & Production
Metric
2025
2024
2023
2022
2021
mt CO2e/Gross MBOE
11.4
12.7
14.5
13.4
11.4
CO2 Emissions
mt CO2
2,104,266
1,549,844
1,560,930
1,317,860
1,131,943
CH4 Emissions
mt CH4
10,103.7
8,230.0
7,786.7
6,722.8
4,779.4
CH4 Intensity
mt CH4/Gross MBOE
0.03
0.03
0.04
0.04
0.03
N2O Emissions
mt N2O
3.76
4.68
4.85
4.53
4.15
Footnote
GHG EMISSIONS (CONT’D) Scope 1 + 2 Intensity
(a)
(c)
VOC Emissions
mt VOC
14,540
7,667
7,452
5,900
9,152
Scope 3 GHG Emissions (Category 11)
mt CO2e
107,506,367‡
70,198,516
52,453,762
45,090,583
-- *
(j)
SPILLS Hydrocarbon Spills
#
939
590
622
441
505
(k)
Produced Water Spills
#
277
244
265
222
262
(k)
Hydrocarbon Volumes
BBL
5,457
3,893
6,294
5,592
2,616
Produced Water Volumes
BBL
30,502
78,525
33,069
28,518
15,257
Combined Volumes
BBL
35,960
82,418
39,363
34,110
17,873
Hydrocarbon Spills Recovered
%
63%
73%
74%
85%
63%
Produced Water Spills Recovered
%
65%
94%
80%
72%
72%
Total Spills Recovered
%
65%
93%
79%
71%
71%
Total Produced Fluid Spill per 1,000 BBL Produced Fluids Total Produced Hydrocarbon Spill per 1,000 BBL Produced Total Produced Water Spill per 1,000 BBL Produced
BBL/MBBL
0.04
0.15
0.08
0.08
0.04
Produced Liquid Spills (Less Recovered) Rate
BBL/MBBL
0.014
0.009
0.015
0.019
0.012
MBBL
293,335
210,103
189,173
138,697
133,284
BBL/MBBL
0.03
‡
0.12
0.07
0.07
0.04
BBL/MBBL
0.03
0.02
0.05
0.05
0.03
(c)
WATER Total Water Used in Operations Brackish Water Used in Operations
MBBL
41,193
49,367
39,089
56,035
67,981
Recycled Water Used in Operations
MBBL
219,348
145,939
138,063
56,918
38,733
MBBL
32,793
14,797
12,020
25,744
26,570
MBBL/Net MBOE
0.873
0.96
1.16
0.98
0.97
Freshwater Used in Operations Total Water Intensity Freshwater Intensity
MBBL/Net MBOE
0.098
0.07
0.07
0.18
0.19
Freshwater Intensity
MBBL/Gross MBOE
0.093
0.06
0.06
0.16
0.17
(c)
Water Recycle Rate
%
74.8%
69.5%
73.0%
41.0%
29.1%
(c)
‡
GOVERNANCE Independent Board Members
(l) %
77%
77%
-- * unavailable
(f) Criteria used for this metric follows GRI-403-9 methodology.
‡ This metric was reviewed by our independent certified public accountants in accordance with attestation standards established by the American Institute of Certified Public Accountants for the year ended December 31, 2025, as stated in their report appearing on page 81. Refer to footnotes for the criteria used to present these metrics.
(g) Criteria used for this metric follows GRI-OG6 methodology.
(a) These figures represent Diamondback plus Viper. (b) Criteria used to calculate this metric was based on employee personnel data from self-reported employee census data. (c) Criteria used for this metric follows AXPC ESG Metrics Framework. (d) Safety statistics in this section contain data submitted by independent contractors and cannot be verified by Diamondback. (e) Criteria used for this metric follows SASB methodology. See the table beginning on page 77 for further information on the criteria.
(h) Criteria used for this metric follows GRI-305-1 methodology. Gases included in the calculation are CO2, CH4 and N2O. Beginning in 2024, Diamondback used the global warming potential (GWP) rates from the Intergovernmental Panel on Climate Change’s Fifth Assessment Report. Previous years used the global warming potential (GWP) rates from the Intergovernmental Panel on Climate Change’s Fourth Assessment Report. (i) Criteria used for this metric follows GRI-305-2 methodology. Gases included in the calculation are CO2, CH4 and N2 O. Beginning in 2024, Diamondback used the global warming potential (GWP) rates from the Intergovernmental Panel on Climate Change’s Fifth Assessment Report. Previous years used the GWP rates from the Intergovernmental Panel on Climate Change’s Fourth Assessment Report. There were no environmental attribute certificates (e.g., RECs, GOs) or supplier-specific programs applicable to FY 2025 and therefore, the market-based and location-based emission factors are the same. Scope 2 emissions include
89%
89%
90%
all electricity purchased to power facilities and equipment under our operational control. (j) To calculate our Scope 3 emissions, we relied upon IPIECA’s 2016 guidance document Estimating Petroleum Industry Value Chain (Scope 3) Greenhouse Gas Emissions. Per the IPIECA guidance, we report category 11 “Use of Sold Products” by calculating combustion emissions for our oil, natural gas and marketed natural gas liquids products using emissions factors obtained from the EPA and net equity production reported in Diamondback’s 2025 Form 10-K. (k) Beginning in 2020, Diamondback began adhering to AXPC methodology, which includes spills greater than or equal to 1 BBL which are not confined to impermeable secondary containment. (l) 2025 Board Member percentages are as of May 20, 2026.
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77 | Appendix
GHG Methodologies & Assumptions
We include all reportable emissions under the U.S. Environmental Protection Agency’s (EPA) Greenhouse Gas Reporting Program using the operational control approach to consolidation. Our corporate headquarters facility and emissions associated with owned vehicles, field offices, and non-op assets have been excluded from reported amounts, as such amounts are not material individually or in the aggregate to reported emissions.
Scope
SCOPE 1
SCOPE 2
Source
Methodology & Assumptions
Emission Factor Source
Fuel combustion (engines, turbines, heaters, boilers, rigs)
Fuel consumed (from meters/invoices) × energy density × fuel-specific emission factor; assume complete combustion
EPA AP-42, 40 CFR Part 98 Subpart C, IPCC Guidelines
Flaring
CO2 emissions = Volume flared × 0.98 × [carbon content of gas] CH4 emissions = Volume flared × 0.02 × [methane content of gas] N2O emissions = Volume flared × heat content of gas × N2O EF
EPA GHG Reporting (Subpart W), API Compendium, IPCC
Venting (pneumatics, tanks, well completions, compressors)
Various: Tank Emissions: Volume of fluid × Flash Gas EF × [reduction/conversion factor for controls] Pneumatics: # of venting controls × weighted average operational time × control emissions EF Compressors: # of venting compressors × weighted average operational time × compressor emissions EF
EPA Subpart W, API Compendium
Fugitive emissions (equipment leaks)
Measured fugitives: # of leaks × leak time × leak rate EF Non-measured fugitives: # of equipment × operational time × estimated leak rate EF
EPA Subpart W, GHGRP Tables, IPCC
Process emissions (acid gas removal, dehydrators)
Monitored volumes of CO₂ removed or chemical throughput
EPA Subpart W, IPCC
Purchased electricity
Utility invoices (kWh consumed) × grid emission factor
EPA eGRID (U.S.), IEA (international)
Purchased steam/heat (if applicable)
Supplier data or estimated energy use
EPA Climate Leaders, IEA
3rd party electricity generators fuel use
Activity data (fuel use from meters/invoices); assume complete combustion
EPA AP-42, 40 CFR Part 98 Subpart C, IPCC Guidelines
SASB Index
This report provides Diamondback’s performance data aligned with the recommended metrics for the SASB Extractives and Minerals Processing — Oil and Gas Exploration and Production sector. All data represents full-year 2025 information and represents 100% of Diamondback’s operating assets.
Accounting Metric
Code
Disclosure
Gross global Scope 1 emissions, percentage methane, percentage covered under emissions-limiting regulations
EM-EP-110a.1
2,388,165 mt CO2e, 11.8% methane, none covered under emissions-limiting regulations
Amount of gross global Scope 1 emissions from: (1) flared hydrocarbons, (2) other combustion, (3) process emissions, (4) other vented emissions and (5) fugitive emissions
EM-EP-110a.2
(1) 1,364,300 mt CO2e (2) 849,677 mt CO2e (3) – (4) 129,313 mt CO2e (5) 44,875 mt CO2e
Discussion of long-term and short-term strategy or plan to manage Scope 1 emissions, emissions reduction targets, and an analysis of performance against those targets
EM-EP-110a.3
See Climate Strategy and TCFD Index
EM-EP-120a.1
(1) 7,390 mt NOx (2) 10 mt SOx (3) 14,540 mt VOC (4) 251 mt PM10
EM-EP-140a.1
(1) 5,214 (thousand cubic meters) (2) 5,214 (thousand cubic meters) 82% for both (1) & (2), according to World Resource Institute’s Aqueduct Baseline Water Scarcity Data
EM-EP-140a.2
111,474 thousand cubic meters (1) 0% (2) 25% (3) 75%
GREENHOUSE GAS EMISSIONS
AIR QUALITY Air emissions of the following pollutants: (1) NO (excluding N2O), (2) SO, (3) volatile organic compounds (VOCs), and (4) particulate matter (PM10)
WATER MANAGEMENT (1) Total water withdrawn, (2) total water consumed; percentage of each in regions with High or Extremely High Baseline Water Stress
Volume of produced water and flowback generated; percentage (1) discharged, (2) injected, (3) recycled; hydrocarbon content in discharged water Percentage of hydraulically fractured wells for which there is public disclosure of all fracturing fluid chemicals used
EM-EP-140a.3
100%
Percentage of hydraulic fracturing sites where ground or surface water quality deteriorated compared to a baseline
EM-EP-140a.4
Not disclosed
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Appendix | 78
SASB Index (continued) Accounting Metric
Code
Disclosure
BIODIVERSITY IMPACTS Description of environmental management policies and practices for active sites
EM-EP-160a.1
See Land Use and Biodiversity
(1) Number and (2) aggregate volume of hydrocarbon spills, (3) volume in Arctic, (4) volume impacting shorelines with ESI rankings 8–10, and (5) volume recovered
EM-EP-160a.2
(1) 939 spills (2) 5,457 BBL (3) 0 spills in Arctic (no operations) (4) 0 spills impacting shorelines with ESI rankings 8-10 (5) 3,462 BBL recovered
Percentage of (1) proved and (2) probable reserves in or near sites with protected conservation status or endangered species habitat
EM-EP-160a.3
Not disclosed
Percentage of (1) proved and (2) probable reserves in or near areas of conflict
EM-EP-210a.1
(1) 0% (2) 0%
Percentage of (1) proved and (2) probable reserves in or near indigenous land
EM-EP-210a.2
(1) 0% (2) 0%
Discussion of engagement processes and due diligence practices with respect to human rights, indigenous rights and operation in areas of conflict
EM-EP-210a.3
See Land Use and Biodiversity
SECURITY, HUMAN RIGHTS & RIGHTS OF INDIGENOUS PEOPLES
COMMUNITY RELATIONS Discussion of process to manage risks and opportunities associated with community rights and interests
EM-EP-210b.1
See Human Rights Policy
(1) Number and (2) duration of non-technical delays
EM-EP-210b.2
-
(1) Total recordable incident rate (TRIR), (2) fatality rate, (3) near miss frequency rate (NMFR) and (4) average hours of health, safety and emergency response training for (a) direct employees and (b) contract employees
EM-EP-320a.1
(1) 0.62 per 200,000 hours worked (2) 0 (3) Not disclosed (4)(a) 5.56
Discussion of management systems used to integrate a culture of safety throughout the exploration and production lifecycle
EM-EP-320a.2
See Safety
WORKFORCE HEALTH & SAFETY
RESERVES VALUATION & CAPITAL EXPENDITURES Sensitivity of hydrocarbon reserve levels to future price projection scenarios that account for a price on carbon emissions
EM-EP-420a.1
Not disclosed
Estimated carbon dioxide emissions embedded in proved hydrocarbon reserves
EM-EP-420a.2
Not disclosed
Amount invested in renewable energy, revenue generated by renewable energy sales
EM-EP-420a.3
Not disclosed
Discussion of how price and demand for hydrocarbons or climate regulation influence the capital expenditure strategy for exploration, acquisition and development of assets
EM-EP-420a.4
See Climate Strategy and TCFD Index
Percentage of (1) proved and (2) probable reserves in countries that have the 20 lowest rankings in Transparency International’s Corruption Perception Index
EM-EP-510a.1
(1) 0% (2) 0%
Description of the management system for prevention of corruption and bribery throughout the value chain
EM-EP-510a.2
See Ethics & Integrity
EM-EP-530a.1
See Trade Associations, Lobbying, and Political Involvement
Process Safety Event (PSE) rates for Loss of Primary Containment (LOPC) of greater consequence (Tier 1)
EM-EP-540a.1
Not disclosed
Description of management systems used to identify and mitigate catastrophic and tail-end risks
EM-EP-540a.2
See Environmental Management
Production of: (1) oil, (2) natural gas, (3) synthetic oil and (4) synthetic gas
EM-EP-000.A
Oil: 181,462 MBBLs Natural Gas: 447,855 MMCF Natural Gas Liquids: 80,073 MBBLs
Number of offshore sites
EM-EP-000.B
None
Number of terrestrial sites
EM-EP-000.C
6,677 wells across ~1,097,846 gross (869,036 net) acres in the Permian Basin
BUSINESS ETHICS & TRANSPARENCY
MANAGEMENT OF THE LEGAL & REGULATORY ENVIRONMENT Discussion of corporate positions related to government regulations or policy proposals that address environmental and social factors affecting the industry
CRITICAL INCIDENT RISK MANAGEMENT
ACTIVITY METRIC
2026 Corporate Sustainability Report
79 | Appendix
AXPC Index Topic
This index provides Diamondback’s performance data aligned with recommended metrics for the American Exploration and Production Council.
Indicator & Units Scope 1 GHG Emissions (Metric tons CO2e)
GREENHOUSE GAS EMISSIONS
FLARING
SPILLS
WATER USE
2025 2,388,165
Scope 1 GHG Intensity Scope 1 GHG Emissions (Metric tons CO2e)/Gross Annual Production as Reported Under Subpart W (MBOE)
6.8
Percent of Scope 1 GHG Emissions Attributed to Boosting and Gathering Segment
Not disclosed
Scope 2 GHG Emissions (Metric tons CO2e)
1,660,486
SAFETY 3
Scopes 1 & 2 Combined GHG Intensity (Scope 1 GHG Emissions (Metric tons CO2e) + Scope 2 GHG Emissions (Metric tons CO2e))/Gross Annual Production as Reported Under Subpart W (MBOE)
11.5
Scope 1 Methane Emissions (Metric tons CH4)
10,104
Scope 1 Methane Intensity Scope 1 Methane Emissions (Metric tons CH4)/Gross Annual Production - As Reported Under Subpart W (MBOE)
0.03
Percent of Scope 1 Methane Emissions Attributed to Boosting and Gathering Segment
Not disclosed
Gross Annual Volume of Flared Gas (MCF)
16,174,421
Percentage of gas flared per MCF of gas produced Gross Annual Volume of Flared Gas (MCF)/Gross Annual Gas Production (MCF)
Topic
2.0%
Volume of gas flared per barrel of oil equivalent produced Gross Annual Volume of Flared Gas (MCF)/Gross Annual Production (BOE)
0.05
Spill Intensity Produced Liquids Spilled (BBL)/Total Produced Liquids (MBBL)
0.030
Fresh Water Intensity Fresh Water Consumed (BBL)/Gross Annual Production (BOE)
0.093
Water Recycle Rate Recycled Water (BBL)/Total Water Consumed (BBL)
74.8%
Does your company use WRI Aqueduct, GEMI, Water Risk Filter, Water Risk Monetizer or other comparable tool or methodology to determine the water stressed areas in your portfolio?
Yes
SUPPORTING DATA
Indicator & Units
2025
Employee TRIR # of Employee OSHA Recordable Cases x 200,000/ Annual Employee Workhours
0.62
Contractor TRIR # of Contractor OSHA Recordable Cases x 200,000/ Annual Contractor Workhours
0.82
Combined TRIR # of Combined OSHA Recordable Cases x 200,000/ Annual Combined Workhours
0.78
Gross Annual Oil Production (BBL)
218,149,686
Gross Annual Gas Production (MCF)
814,786,455
Gross Annual Production (BOE)
353,947,428
Gross Annual Production (MBOE)
353,947
Gross Annual Production - As Reported Under Subpart W (MBOE)4
352,971
Total Produced Liquids (MBBL)
919,303
Produced Liquids Spilled (BBL)
27,516
Fresh Water Consumed (BBL)
32,793,497
Recycled Water (BBL)
219,348,428
Total Water Consumed (BBL)
293,335,081
Employee OSHA Recordable Cases
11
Contractor OSHA Recordable Cases
67
Combined OSHA Recordable Cases
78
Annual Employee Workhours
3,556,354
Annual Contractor Work Hours
16,422,224
Methodology
Actuals
Annual Combined Work Hours
19,978,578
Safety statistics in this section contain data submitted by independent contractors and cannot be verified by Diamondback. Gross annual production as reported under Subpart W differs slightly from the annual total used elsewhere in this report due to divested assets and prior period adjustments reflecting roughly a one-week difference in data cutoff.
3 4
2026 Corporate Sustainability Report
Autry Pad Midland Basin Midland County, Texas
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2026 Corporate Sustainability Report
81 | Appendix
Report of Independent Certified Public Accountants
GRANT THORNTON LLP
211 N Robinson Ave., Suite 1200 Oklahoma City, OK 73102 D F
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS
+1 405 218 2800 +1 405 218 2801
Board of Directors and Management Diamondback Energy, Inc. We have reviewed the following specified indicators included in Diamondback Energy, Inc.’s 2026 Corporate Sustainability Report for the year ended December 31, 2025 (“Subject Matter”). Subject Matter
Criteria
Operated Scope 1 greenhouse gas (“GHG”) emissions Operated Scope 2 GHG emissions Scope 3 GHG emissions – Category 11 “Use of Sold Products” Total produced fluid spill
GHG Protocol1
Water recycle rate Gross volume of flared hydrocarbons Total recordable incident rates 1
2 3
GHG Protocol1 GHG Protocol1 American Exploration and Production Council2 American Exploration and Production Council2 Global Reporting Initiative3 Global Reporting Initiative3
World Resources Institute and World Business Council for Sustainable Development Greenhouse Gas Protocol: A Corporate Accounting and Reporting Standard (Revised Edition) and GHG Protocol Scope 2 Guidance (collectively, the “GHG Protocol”) American Exploration & Production Council (AXPC) ESG Metrics Framework Published January 2024 Consolidated Set of GRI Standards (GRI Standards) Published February 2024
Diamondback Energy, Inc.’s management is responsible for the Subject Matter in accordance with the criteria set forth in the above table (collectively, the “Criteria”). Our responsibility is to express a conclusion on the Subject Matter based on our review. Our review was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (AICPA). Those standards require that we plan and perform the review to obtain limited assurance about whether any material modifications should be made to the Subject Matter in order for it to be presented in accordance with the Criteria. The procedures performed in a review vary in nature and timing from, and are substantially less in extent than, an examination, the objective of which is to obtain reasonable assurance about whether the Subject Matter is presented in accordance with the Criteria, in all material respects, in order to express an opinion. Accordingly, we do not express such an opinion. Because of the limited nature of the engagement, the level of assurance obtained in a review is substantially lower than the assurance that would have been obtained had an examination been performed. We believe that the review evidence obtained is sufficient and appropriate to provide a reasonable basis for our conclusion.
GT.COM
2026 Corporate Sustainability Report
Grant Thornton LLP is a U.S. member firm of Grant Thornton International Ltd (GTIL). GTIL and each of its member firms are separate legal entities and are not a worldwide partnership.
Appendix | 82
We are required to be independent and to meet our other ethical responsibilities in accordance with relevant ethical requirements related to the engagement. The procedures we performed were based on our professional judgment and consisted primarily of analytical procedures and inquiries. In addition, we obtained an understanding of Diamondback Energy, Inc.’s business processes relevant to the review in order to design appropriate procedures. The preparation of the Subject Matter requires management to evaluate the Criteria, make determinations as to the relevancy of information to be included, and make estimates and assumptions that affect reported information. Measurement of certain amounts, some of which may be referred to as estimates, is subject to substantial inherent measurement uncertainty. Obtaining sufficient appropriate review evidence to support our conclusion does not reduce the inherent uncertainty in the amounts and metrics. The selection by management of different but acceptable measurement techniques could result in materially different amounts or metrics being reported. Based on our review, we are not aware of any material modifications that should be made to the Subject Matter of Diamondback Energy, Inc. for the year ended December 31, 2025, in order for it to be presented in accordance with the Criteria.
Oklahoma City, Oklahoma October 5, 2026
2026 Corporate Sustainability Report
83 | Appendix
Forward-Looking Statements This report 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 Double Eagle acquisition, and the Sitio acquisition completed by Viper and other acquisitions, divestitures or reorganizations); and plans and objectives of management (including plans for future cash flow from operations and for executing environmental strategies) are forward-looking statements. When used in this news release, the words “aim,”“anticipate,”“believe,”“continue,”“could,”“estimate,”“expect,”“forecast,”“future,”“guidance,”“intend,”“may,”“model,”“outlook,”“plan,”“positioned,”“potential,” “predict,”“project,”“seek,”“should,”“target,”“will,”“would,” and similar expressions (including the negative of such terms) are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Although Diamondback believes that the expectations and assumptions reflected in its forward-looking statements are reasonable as and when made, they involve risks and uncertainties that are difficult to predict and, in many cases, beyond Diamondback’s control. Accordingly, forward-looking statements are not guarantees of future performance and Diamondback’s actual outcomes could differ materially from what Diamondback has expressed in its forward-looking statements. Factors that could cause the outcomes to differ materially include (but are not limited to) the following: geopolitics and market conditions, including changes in supply and demand levels for oil, natural gas, and natural gas liquids, and the resulting impact on the price for those commodities; changes in U.S. energy, environmental, monetary and trade policies, including with respect to tariffs or other trade barriers and any resulting trade tensions; actions taken by the members of OPEC and its non-OPEC allies (OPEC+) affecting the production and pricing of oil, as well as other domestic and global political, economic, or diplomatic developments; changes in general economic, business or industry conditions, including changes in foreign currency exchange rates, interest rates, inflation rates, and instability in the financial markets; regional supply and demand factors, including delays, curtailment delays or interruptions of production, or governmental orders, rules or regulations that impose production limits; federal and state legislative and regulatory initiatives relating to hydraulic fracturing, including the effect of existing and future laws and governmental regulations; physical and transition risks relating to climate change, changing political and social perspectives on climate change and other environmental, social and governance factors, and risks from our publicly disclosed targets related to sustainability and emissions reduction initiatives; challenges in developing our existing leasehold acreage and finding, developing or acquiring additional reserves; restrictions on the use of water, including limits on the use of produced water and a moratorium on new produced water disposal well permits recently imposed by the Texas Railroad Commission in an effort to control induced seismicity in the Permian Basin; significant declines in prices for oil, natural gas, or natural gas liquids, which could require recognition of significant impairment charges; conditions in the capital, financial and credit markets, including the availability and pricing of capital for acquisitions, exploration and development operations; challenges with employee retention and
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an increasingly competitive labor market; changes in availability or cost of rigs, equipment, raw materials, supplies and oilfield services; changes in safety, health, environmental, tax and other regulations or requirements (including those addressing air emissions, water management, or the impact of global climate change); security threats, including cybersecurity threats and disruptions to our business and operations from breaches of our information technology systems, or from breaches of information technology systems of third parties with whom we transact business; lack of, or disruption in, access to adequate and reliable electrical power, internet and telecommunication infrastructure, information and computer systems, transportation, processing, storage and other facilities for our oil, natural gas and natural gas liquids; failures or delays in achieving expected reserve or production levels from existing and future oil and natural gas developments, including due to operating hazards, drilling risks, or the inherent uncertainties in predicting reserve and reservoir performance; inability to keep pace with technological developments in our industry; failure to meet our obligations under our oil purchase contracts; loss of one or more customers or their inability to meet their obligations; geographical concentration of our primary operations; risks from our return of capital commitment, and uncertainties over our future dividends and share repurchases; difficulty in obtaining necessary approvals and permits; severe weather conditions and natural disasters; changes in the financial strength of counterparties to our credit facilities and hedging contracts; our substantial indebtedness and restrictions to our operating and financial flexibility; changes in our credit rating; failure to identify, complete and successfully integrate acquisitions, including Viper’s Riverbend acquisition, the Double Eagle acquisition and Viper’s Sitio acquisition; the Endeavor stockholders’ ability to significantly influence our business and potential conflicts of interest; and other risks described in Part I, Item 1A of Diamondback’s Annual Report on Form 10-K, filed with the SEC on February 25, 2026, and those risks disclosed in its subsequent filings on Forms 10-K, 10-Q and 8-K, which can be obtained free of charge on the SEC’s website at www.sec.gov and Diamondback’s website at www.diamondbackenergy.com/investors. In light of these factors, the events anticipated by Diamondback’s forward-looking statements may not occur at the time anticipated or at all. Moreover, Diamondback operates in a very competitive and rapidly changing environment and new risks emerge from time to time. Diamondback cannot predict all risks, nor can it assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those anticipated by any forward-looking statements it may make. Accordingly, you should not place undue reliance on any forward-looking statements. All forward-looking statements speak only as of the date of this release or, if earlier, as of the date they were made. Diamondback does not intend to, and disclaims any obligation to, update or revise any forward-looking statements unless required by applicable law.
Fox Hollow Battery Midland Basin Midland County, Texas 2026 Corporate Sustainability Report
500 West Texas Ave., Suite 100, Midland, TX 79701 | www.diamondbackenergy.com Questions regarding this report? Please contact IR@diamondbackenergy.com. © 2026 Diamondback Energy. All trademarks belong to their respective owners. All rights reserved. October 2026