Diversified Energy Company · NYSE:DEC
Diversified Energy — Q3 2025 Earnings Presentation
14 slides from Diversified Energy's earnings presentation, Nov 4, 2025
Slide 1: Third Quarter Financial & Operational Results Presentation
Energy Optimized DEC: The Only Publicly Traded Champion of the PDP Subsector Third Quarter Financial & Operational Results Presentation November 4, 2025
Slide 2: November
The information contained in this document (the "Presentation") has been prepared by Diversified Energy Forward-looking statements speak only as of their date and neither the Company nor the Group nor any of its respective Company PLC (“Diversified” or the "Company”). This Presentation is for genera
Slide 3: Executing on Our Strategy - Creating Value in 2025
EXECUTING ON OUR STRATEGY- CREATING VALUE IN 2025 Total stakeholder returns since 2017 IPO include ~$2.2 billion in shareholder returns and debt principal payments Systematic Debt Reduction Strategic Share Repurchases $203 million ~$61 million of debt principal payments value of shares repurchased(a
Slide 4: Move of Primary Listing to New York Stock Exchange
MOVE OF PRIMARY LISTING TO NEW YORK STOCK EXCHANGE Increases overall trading liquidity in the Company’s shares, given access to deeper US capital markets Increases exposure to US investors through a primary US listing Establishing SEC filing of GAAP financials for Q4/FY25, & change in parent company
Slide 5: Mountain State Plugging Fund - DEC Continues to Innovate & Lead
“MOUNTAIN STATE PLUGGING FUND“ – DEC CONTINUES TO INNOVATE & LEAD Providing WV Financial Assurance for DEC’s Plugging Fund Attributes Future Asset Retirement Obligations (ARO) Groundbreaking Partnership – Common Sense Solution ✓ DEC pays $3.5 million annual premium for 20 years • DEC enters into lon
Slide 6: Focused Acquisition Strategy: Canvas Energy
FOCUSED ACQUISITION STRATEGY: CANVAS ENERGY In-Basin Acquisition Framework Diversified Formula Acquire Attractively Valued Energy Assets Valuation • Mid-teens or greater PV value on producing assets • Targeting 2.0x-4.0x EBITDA / Purchase Price • Accretive to per-share FCF and EBITDA Operations & Sy
Slide 7: Smarter Asset Management: Compressor Station Acquisition
SMARTER ASSET MANAGEMENT: COMPRESSOR STATION ACQUISITION Strategic Purchase in 1H2025 Fallowfield Compressor Station Acquired for $500,000 and included an 8,000 Mcf/d Washington County, PA (Appalachian region) Capacity 4-unit compressor station Increased Efficiency and Molecule Value Capacity for CM
Slide 8: Delivering Exceptional Performance and Growth
DELIVERING EXCEPTIONAL PERFORMANCE AND GROWTH Third Quarter Financial & Operating Highlights Significant Year-over-Year Growth Production Mmcfe/d 1-year Growth Production Exit Rate of 1,144 MMcfe/d • 3Q 2025 avg. production of 1,127 MMcfe/d 1127 • Maintained consolidated production decline of ~10% p
Slide 9: Continuous Process of Portfolio Optimization
CONTINUOUS PROCESS OF PORTFOLIO OPTIMIZATION Annualized and Ratable Free Cash Flow 8.6 Million Net Acres within Operating Footprint Generation from Optimization Program 99.9% of all acreage currently held-by-production with minimal portfolio exposure to state or federal lands Cumulative $298 Undevel
Slide 10: Acquisitions Drive Free Cash Flow Growth & Conversion
ACQUISITIONS DRIVE FREE CASH FLOW GROWTH & CONVERSION Operational Capital Intensity 2025 FCF Conversion 5x Lower Than Closest Peer(a) Cash Generation Adjusted EBITDA Increases Capital Available for Return to Shareholders & Future Investments $704 Benefits of Low Declines $286 Creates Strategic Flexi
Slide 11: Opportunistically Creating Additional Shareholder Returns
OPPORTUNISTICALLY CREATING ADDITIONAL SHAREHOLDER RETURNS % of Market Cap Repurchased Dividend Yield vs MLP & Mineral Sector 13% 6.3% 5.7% 5.1% 10% 5.1% 10% 9% 9% 9% 4.3% 8% 4.0% 8% 7% 7% 3.3% 2.7% 2.2% 2.2% 2.1% 2.1% 2.0% 2.0% 2.0% 2.0% 4% 1.4% 1.4% 0.8% 0.7% 0.4% 0.2% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Slide 12: Increased 2025 Company Financial Outlook
INCREASED 2025 COMPANY FINANCIAL OUTLOOK 2025 Prior Guidance Range(a) 2025 Updated Guidance Range(a) Low High Low High Total Production (Mmcfe/d) 1,050 1,100 1,050 1,100 % Liquids 25% 25% % Natural Gas 75% 75% Adj. EBITDA (millions) $825 $875 updated $900 $925 Capital Expenditures (millions) $165 $1
Slide 13: Unique Small Cap Investment Opportunity
UNIQUE SMALL CAP INVESTMENT OPPORTUNITY 3,000 Russell 3000 Constituents DEC metric companies 226 Platform Scale $1B companies ~$1 Billion Adjusted EBITDA(a) Leading Returns 55 21% Over 20% TTM TSR(b) companies 24 Dividend History 20+ qtrs. consecutive dividend payment 20+ companies Growth >2x increa
Slide 14: Corporate
Corporate 1600 Corporate Drive Birmingham, Alabama 35238-1087 (USA) div.energy div.energy Douglas Kris Kevin O’Brien Senior Vice President Director Investor Relations & Investor Relations Corporate Communications dkris@dgoc.com kpobrien@dgoc.com dkris@dgoc.com kpobrien@dgoc.com +1 973 856 2757 +1 41
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