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Viper Energy Partners LP
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February 2026 Investor Presentation
| Travis Stice | Page 4 of 11 |
October 16, 2026
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"February 2026 Investor Presentation"
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4 35,670 86,600 200 299 49.8 91.6 279 316 27.2 47.2 152 163 18,550 33,790 104 117 Viper Energy Overview Source: Company data and filings. Market data based on VNOM’s closing price on 2/20/2026. Viper Mineral and Royalty Assets Market Snapshot NASDAQ Symbol: VNOM Market Cap: $16.8 billion Net Debt (2) : $2.2 billion / Liquidity (2) : $1.4 billion Enterprise Value: $19.0 billion Share Count: 368 million (3) Dividend Yield: 4.6% (MRQA) Net Royalty Acreage: ~86,600 (4) (~39% FANG-operated) (1) Excludes non-Permian production. (2) See Non-GAAP definitions and reconciliations in the appendix. Net debt and liquidity as of 12/31/2025. (3) Includes 10.1 million OpCo units that have the option to be granted an equal number of shares of Class B common stock. (4) Excludes non-Permian acreage that was divested on 2/9/2026. FANG Operated Net Royalty Acres Permian Net Royalty Acres Net Oil Production (Mbo/d) Total Net Production (Mboe/d) 2025: A Transformative Year for Viper 2024 2025 (1) (52% of Permian) (39% of Permian) Absolute 2024 2025 (1) Per Share