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PDC Energy Co | Q4 2022 Earnings Presentation | Barton R. Brookman | Page 3 of 11 | June 07, 2025

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Met and Exceeded 2022 Targets 3February 2023 (1)Non GAAP measure, see appendix 2022 generated ~$1.4 billion of Free Cash Flow (FCF)(1) •Q4 2022 generated ~$260 million of FCF 2022 Base dividend and share buybacks totaled ~$1 billion (exceeding the 60+% of Annual Post-Dividend FCF returns target) •Q4 2022: invested ~$260 million to repurchase ~3.6 million shares, declared and paid a special dividend of $0.65 per share in December Surpassed -15% and -30% GHG Intensity and Methane Emission Intensity Reduction Targets for 2022 •Year-over-year GHG intensity and methane emission reductions greater than 30 percent and 50 percent, respectively - reassessing 2025 and 2030 goals to align with 2022 outperformance Extended multi-year permitted runway of highly economic projects •More than 50% of our ~2,100 DJ Basin locations derisked with drilling, CAP and permits (~10 years of highly economic inventory) 2022 total production of ~233 Mboe/d (~75 MBOPD) •Q4 2022 total production of ~247 Mboe/d (~80 MBOPD) Year-end 2022 proved reserves totaled 1.1 Bboe •~440% reserve replacement ratio with pre-tax PV-10 of ~$19 billion Key 2022 and Q4 Highlights Acquired and Integrated $1.4 billion Great Western transaction solidifying Core Wattenberg position •Expanded high return inventory and bolstered oily base production