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Permian Resources
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2024 Portfolio Optimization Update Presentation
| Will Hickey; James Walter | Page 3 of 11 |
April 27, 2024
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"2024 Portfolio Optimization Update Presentation"
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Increase Shareholder Value 2 P Improve operating efficiency P Accretive to NAV and free cash flow P Leverage existing acreage position to execute win-win transactions P Maintain and grow high-return inventory Bolt-On Acquisitions Add High-Return Locations Offset Core Position • Acquired ~11,500 net acres and ~4,000 net royalty acres through two separate transactions in Eddy County, including high-NRI, operated locations that immediately compete for capital Acreage Trade Blocks-Up Position, Increases Strategic Value & NAV • Improved existing position and added high-quality, operated inventory through acreage trade in Lea County, consisting of ~2,000 net acres 1 Grassroots Efforts Continue to Provide Compelling Value • Executed >35 grassroots leasing / working interest acquisitions ahead of the drill- bit, comprising ~500 net acres during Q4’23 • Near-term development timing makes these additions highly accretive Non-Core Divestiture Executed at Attractive Valuation • Sold legacy Earthstone Eagle Ford position for ~$67 MM in Q4’23 • Total net production of ~1,000 Boe/d Portfolio Management Objectives Recent Portfolio Optimization Strategy Continues to Drive Shareholder Value Since closing Earthstone on November 1 st , Permian Resources has added ~14,000 net acres and ~5,300 net royalty acres in the core of the Delaware Basin 1 2 3 4 (1) Includes inbound net acreage only and excludes ~2,000 net acres traded-out