Permian Resources Corporation · NYSE:PR
Permian Resources — Q2 2025 Earnings Presentation
21 slides from Permian Resources's earnings presentation, Aug 7, 2025
Slide 1: Q2'25 Earnings Presentation
August 6, 2025 Q2’25 Earnings Presentation
Slide 2: Important Information
Important Information Forward-Looking Statements The information in this presentation includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than stat
Slide 3: Permian Resources – Company Overview
Permian Resources – Company Overview Largest pure-play Delaware Basin E&P company with Premier Delaware ~470,000 net acres, ~100,000 net royalty acres and PR Key Statistics Basin Pure-Play ~385 MBoe/d of FY’25E production E&P Company Scale and balance sheet strength provide flexibility to ~470,0
Slide 4: Permian Resources Financial and Operational Highlights
Permian Resources Financial and Operational Highlights Q2’25 Highlights Q2’25 Key Metrics • Reported total average production of 385.1 MBoe/d, including 176.5 MBbls/d of oil, Oil (MBbls/d) 176.5 97.8 MBbls/d of NGLs and 664.7 MMcf/d of natural gas • Announced cash capital expenditures of $505 MM, ca
Slide 5: Executing on PR's Downturn Playbook
Executing on PR’s Downturn Playbook $ $ Balance Sheet Strength Accretive M&A Share Repurchases Opportunistic Hedging & Maximum Liquidity • Acquired high-quality assets below • Reacted swiftly to market • Maintained low leverage profile • PR’s consistent hedging mid-cycle commodity prices con
Slide 6: Strong Balance Sheet Supports Leading Returns Across Cycles
Strong Balance Sheet Supports Leading Returns Across Cycles • Maximize liquidity through cycles Financial Highlights • Current leverage of 1.0x, in-line with target of 0.5-1.0x Conservative • Retain free cash flow to deploy opportunistically and Strategy maximize shareholder return $ ~$450 million ~
Slide 7: PR Has The Size and Scale to Optimize Its Pricing Portfolio
PR Has The Size and Scale to Optimize Its Pricing Portfolio Midstream & Marketing Enhancing realizations and generating Permian Basin Natural Gas Production (Bcf/d)1 Goals incremental FCF are a key focus for PR PR is the 7th largest gas producer in the Permian Basin Overview Maximum Netbacks • Ini
Slide 8: Recent Marketing Arrangements Provide Immediate Uplift to Realized Prices
Recent Marketing Arrangements Provide Immediate Uplift to Realized Prices Gas: Non-Waha Firm Transport & Sales Agreements 2026 vs. 2024 Netback Uplift Natural Gas (MMcf/d) ($/Mcf) • Entered into multiple transportation and marketing agreements to sell a significant portion of residue ~425 natural ga
Slide 9: Revised Guidance Summary
Revised Guidance Summary 2025 Guidance Summary 2025 Revised Oil Guidance (MBbls/d)1 • Increasing full-year production ranges to 177.5 – 179.5 178.5 MBbls/d and 380 – 390 MBoe/d 3.0 ‒ ~3% increase to oil and total production 3.0 172.5 • Increase driven by strong well results and APA bolt-on • Updatin
Slide 10: Compelling Value Proposition Continues with Premier Assets & Increased Scale
Compelling Value Proposition Continues with Premier Assets & Increased Scale PR shareholder return has exceeded key indices and …And still provides significant upside to its Permian oil peers since its formation… valuation versus peers Total Shareholder Return Since Inception 14.5x EV / 2026E EBITDA
Slide 11: Appendix
Appendix
Slide 12: Permian Resources Q2'25 Operational and Financial Overview
Permian Resources Q2’25 Operational and Financial Overview Market Statistics (Data in MM, except per share data) Per Share Key Statistics ($’s in MM, except per share data) Total (Diluted) Diluted Shares Outstanding1 842.9 Share Price (8/5/25) $13.71 Total Oil and Gas Revenue $1,197.6 Market Capital
Slide 13: Revised 2025 Guidance Detail
Revised 2025 Guidance Detail Revised Commentary Additional Commentary FY’25 Guidance Production Expect <$5 MM in current income tax for FY’25 at current strip prices Net Average Daily Production (Boe/d) 380,000 - 390,000 • Oil and total production increased by ~3% due to strong well results and
Slide 14: Hedge Book Overview
Hedge Book Overview Hedging Philosophy Crude Oil Hedge Position (Bbls/d) • Protect the balance sheet, cash flow and shareholder returns 57,000 WTI Swaps • Ensure business is in a position to be opportunistic 29,500 29,500 during downcycles • Balance downside protection with appropriate upside H2’25
Slide 15: Hedge Book Overview (as of July 31, 2025)
Hedge Book Overview (as of July 31, 2025) Bal. 2025 FY 2026 FY 2027 Q3 Q4 2025 Q1 Q2 Q3 Q4 2026 Q1 Q2 Q3 Q4 2027 WTI Fixed Price Swaps Total Volume (Bbl) 5,244,000 5,244,000 10,488,000 2,655,000 2,684,500 2,714,000 2,714,000 10,767,500 -- -- -- -- -- Daily Volume (Bbl/d) 57,000 57,000 57,000 29,500
Slide 16: 2024 Sustainability Report Highlights
2024 Sustainability Report Highlights 2024 Highlights • Reduced flaring to 1.0% of natural gas volumes, compared to 2.0% in the prior year • Deployed continuous emissions monitoring across 60% of our oil production, a significant increase versus 2023 • Conducted aerial flyovers, inspecting >2,000 si
Slide 17: Reconciliation of Adjusted EBITDAX to Net Income
Reconciliation of Adjusted EBITDAX to Net Income Adjusted EBITDAX Reconciliation1 FY’24 FY’25 ($ in thousands, unless specified) Q1 Q2 Q3 Q4 FY’24 Q1 Q2 Net income attributable to Class A Common Stock $146,575 $235,100 $386,376 $216,650 $984,701 $329,298 $207,137 Net income attributable to noncontro
Slide 18: Reconciliation of Adjusted Operating Cash Flow and Adjusted Free Cash Flow
Reconciliation of Adjusted Operating Cash Flow and Adjusted Free Cash Flow Adjusted Operating Cash Flow and Adjusted Free Cash Flow Reconciliation1 Based on Cash Capital Expenditures Three Months Ended June 30, (in thousands, except per share data) 2025 2024 Net cash provided by operating activities
Slide 19: Reconciliation of Adjusted Net Income
Reconciliation of Adjusted Net Income Adjusted Net Income Reconciliation1 Three Months Ended June 30, ($ in thousands, except per share data) 2025 2024 Net income attributable to Class A Common Stock $207,137 $235,100 Net income attributable to noncontrolling interest 37,884 73,808 Non-cash derivati
Slide 20: Reconciliation of Net Debt-to-LQA EBITDAX
Reconciliation of Net Debt-to-LQA EBITDAX Net Debt-to-LQA EBITDAX Reconciliation1 ($ in thousands) June 30, 2025 Total debt, net $3,997,481 Unamortized debt discount, premium and issuance costs on senior notes 34,241 Total debt 4,031,722 Less: cash and cash equivalents (451,002) Net debt (Non-GAAP)
Slide 21: Reconciliation of Adjusted Basic and Diluted Shares
Reconciliation of Adjusted Basic and Diluted Shares Adjusted Shares Reconciliation1 Three Months Ended June 30, (in thousands) 2025 2024 Basic weighted average shares of Class A Common Stock outstanding 701,353 612,248 Weighted average shares of Class C Common Stock 99,051 159,352 Adjusted basic wei