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SM ENERGY PROVIDES 2026 OUTLOOK
SM Energy Company (the "Company" or "SM Energy") (NYSE: SM) today issued its 2026 outlook, designed to maximize free cash flow through disciplined investments in its high-return development projects. It also provided a new stockholder return framework, which includes a 10% increase to its quarterly dividend policy. Accompanying slides can be found on the Company's website at sm-energy.com/investors/news-events/presentations. A conference call is scheduled for 8 a.m. MT/10 a.m. ET on February 26,
About this update from Sm Energy Company
[{"type":"text","content":"Plan maximizes free cash flow and strengthens balance sheet","length":59,"tagName":"p","attribs":{}},{"type":"text","content":"Accelerates return of capital, including a 10% dividend increase, under an enhanced framework","length":93,"tagName":"p","attribs":{}},{"type":"text","content":"DENVER, Feb. 25, 2026 /PRNewswire/ -- SM Energy Company (the "Company" or "SM Energy") (NYSE: SM) today issued its 2026 outlook, designed to maximize free cash flow through disciplined investments in its high-return development projects. It also provided a new stockholder return framework, which includes a 10% increase to its quarterly dividend policy. Accompanying slides can be found on the Company's website at sm-energy.com/investors/news-events/presentations. A conference call is scheduled for 8 a.m. MT/10 a.m. ET on February 26, 2026. Participation details can be found within this release.","length":624,"tagName":"p"},{"type":"text","content":""Our 2026 plan maximizes free cash flow to further strengthen our balance sheet and accelerate returns to stockholders under our upgraded return of capital framework," said Beth McDonald, President and CEO. "Our expanded, top-tier asset portfolio provides flexibility to allocate capital to our highest-return opportunities. As previously messaged, we're adjusting activity levels to improve capital efficiency and generate higher free cash flow. The strength of our asset portfolio, combined with reduced rig activity, 14% lower capital spend, and our recently announced $950 million asset sale, gives us the confidence to increase our fixed dividend by 10%, while prioritizing debt reduction and accelerating share buybacks."","length":756,"tagName":"p"},{"type":"text","content":"2026 OUTLOOK","length":12,"tagName":"p"},{"type":"text","content":"The Company's 2026 plan focuses on three strategic priorities:","length":66,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Integrate and Capture Synergies – Successfully integrate Civitas Resources, Inc. ("Civitas") and action $200–$300 million of identified and expected synergies, of which approximately $185 million has already been actioned to date.","length":240,"tagName":"p"}]},{"val":[{"type":"text","content":"Maximize Free Cash Flow – Execute high-grade investments across ...