Diversified Energy Company · NYSE:DEC
Diversified Energy — Q2 2026 Earnings Presentation
14 slides from Diversified Energy's earnings presentation, Aug 6, 2026
Slide 1: 2Q 26 Earnings Presentation
PROVEN 2Q 26 Earnings Presentation May • 6, August 7, 2026 2026
Slide 2: Disclaimer, Forward-Looking Statements and Non-GAAP Measures
Disclaimer, Forward-Looking Statements and Non-GAAP Measures PROVEN The information contained in this document (the "Presentation") has been prepared by Diversified Energy Company (NYSE: DEC, LSE: Forward-looking statements speak only as of the date they are made, and the Company and each of its res
Slide 3: Our capital return priorities: Consistent success in 1H 26
Our capital return priorities: Consistent success in 1H 26 PROVEN Systematic Strategic Share Accretive Fixed per-share Debt Reduction Repurchases Acquisitions Dividend ~$233M ~$93M ~$2B ~$43M of debt principal value of shares of recently completed in dividend payments repurchased(a) acquisitions(b)
Slide 4: Delivering exceptional performance and growth
Delivering exceptional PROVEN performance and growth 2Q26 Financial & Operating Highlights Converting Commodity to Cash Q2 Average Production of 1,253 MMcfe/d • Production Exit Rate of 1,275 MMcfe/d (a) • Maintained industry-leading consolidated production decline 2Q 2026 TTM Total Commodity Revenue
Slide 5: Adding to Our Playbook
Adding to Our Playbook Operated Development Enhances Long- PROVEN Term Cash Flow Durability Drilling Programs Add High Return Production Operated Oklahoma Program Marks Expansion of Playbook Est. $250-300M of Annual Run- Allocating capital to operated programs where Diversified Rate Capex (~25-30% o
Slide 6: Development Program Details
Development PROVEN Program Details Oklahoma Operated Plan Select High-Return Non-Operated Programs (12 months: Sep ‘26 – Sep ’27) FOCUS: Extracting cash flow from Oklahoma – Mewbourne Texas – Continental Net (Gross) Wells Planned ~17.1 (19.0) the commodity, rather than just Anadarko Resource - Centr
Slide 7: Maintaining Capital Efficiency and Cash Flow Resilience
Maintaining Capital PROVEN Efficiency and Cash Natural Gas Peers Flow Resilience 44% Annual Production Decline(a) 40% Peer Average Capital plan complements DEC’s stable 33% 35% 31% production and cash flow profile 26% 24% 25% 22% (%) Peer-Leading Declines Low-decline, PDP production base ~10% suppor
Slide 8: Updating 2026 Outlook
Updating 2026 Outlook PROVEN Prioritizing free cash flow with the flexibility to allocate across the highest return and best uses of capital to create long-term shareholder value 2026 Guidance Range(a) LOW HIGH Total Production (Mmcfe/d) 1,180 1,210 % Liquids / % Natural Gas 29% / 71% Adj. EBITDA(b)
Slide 9: Proven Platform for "The Next 25"
Proven Platform for “The Next 25” PROVEN Operating From the Strongest Fiscal Position in Company History: Scaled, stable, core production base generates durable cash flow, allowing for flexible capital allocation with the opportunity, but not the mandate, for organic low-risk growth from a deep inve
Slide 10: Appendix
PROVEN Appendix
Slide 11: Summary of footnotes (page 1)
Summary of footnotes (page 1) PROVEN Slide 3: Our capital return priorities … a) Share repurchases include the value of shares repurchase through Diversified announced Share Repurchase Program and the value of shares purchased by Diversified’s Employee Benefit Trust (the “EBT”) through June 30, 2026
Slide 12: Adjusted EBITDA
Appendix Adjusted EBITDA PROVEN As used herein, EBITDA represents earnings before interest, taxes, depletion, depreciation and amortization. Adjusted EBITDA includes adjusting for items that are not comparable period-over-period, namely, finance costs, accretion of asset retirement obligation, other
Slide 13: Free Cash Flow & Net Debt
Free Cash Flow & Net Debt PROVEN As used herein, net debt represents total debt as recognized on the balance sheet less cash and restricted cash. Total debt includes our borrowings under the Credit Facility, borrowings under or issuances of, as applicable, our subsidiaries’ securitization facilities
Slide 14: Corporate
PROVEN Corporate Douglas Kris Kevin O’Brien 1600 Corporate Drive Senior Vice President Director Birmingham, Alabama Investor Relations & Investor Relations 35238-1087 (USA) Corporate Communications div.energy dkris@dgoc.com kpobrien@dgoc.com +1 973 856 2757 +1 412 403 7085
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