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Viper Energy Partners LP | May 2024 Investor Presentation | Travis Stice | Page 4 of 11 | October 16, 2026

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4 Viper Energy Overview Source: Company data and filings. Financial data as of 3/31/2024 unless stated otherwise. All market data based on VNOM’s closing price on 4/26/2024. Differentiated Investment Opportunity Unique Relationship with Primary Operator Diamondback relationship and ownership reduces uncertainty around pace of development ? Minimal Exposure to Cost Inflation Zero capital requirements means insulated from inflationary cost pressures ? High Margin Upside to Commodity Prices Limited operating costs enable best-in-class margins Hedging strategy maximizes upside commodity exposure ? Significant Undeveloped Resource Permian asset <35% developed (1) Concentrated acreage throughout core of Permian ? Differentiated Focus on Per Share Growth 1Q ’24 oil production per share +16% Y/Y Accretive acquisitions enhance organic growth profile ? Unmatched Size and Scale Current liquidity of $597 million Proved reserves of 179.3 MMBoe (2) ? Viper Mineral and Royalty Assets Market Snapshot NASDAQ Symbol: VNOM Market Cap: $7,023 million Net Debt: $1,083MM / Liquidity: $597 million Enterprise Value: $8,106 million Share Count: 177 million Dividend Yield (3) : 5.9% (MRQA) Net Royalty Acreage (4) : ~32,000 (~50% FANG-operated) VNOM royalty acreage FANG acreage (1) Illustrative calculation assuming 1.5 mile laterals, 28 wells per DSU in the Midland Basin and 20 wells per DSU in the Delaware Basin. (2) Reserves as of year-end 2023. (3) Dividend yield defined as total base-plus-variable cash dividend divided by market cap. Market cap as of 4/26/2024. MRQA represents most recent quarter annualized. (4) Represents Permian acreage only.