CIVITAS RESOURCES, INC.

Civitas Resources, Inc. is an independent company focused on finding, developing, and producing crude oil and associated liquids-rich natural gas. The company operates in the DJ Basin in Colorado and the Permian Basin, which spans Texas and New Mexico. These are significant producing basins in the United States, known for their long production histories, established infrastructure, extended reserve lives, multiple layers of production, and potential for enhanced oil recovery. Civitas aims to achieve strong economic returns and generate substantial free cash flow by maintaining low operating costs, high profit margins compared to peers, efficient use of capital, and minimal capital reinvestment, while keeping production generally stable over time. The company's technical team, comprising geoscientists and engineers, possesses decades of industry experience and expertise in drilling, completing, and producing fracture-stimulated horizontal wells. Civitas's main goal is to maximize returns for its stockholders by responsibly developing its crude oil and natural gas resources. This is supported by four core principles, including generating significant free cash flow. The company's large, high-quality asset base, with a substantial inventory of low-breakeven projects across two top basins, enables it to generate significant Adjusted Free Cash Flow. In 2023, these assets generated $795.9 million in Adjusted Free Cash Flow, followed by $1.3 billion in 2024. The company also focuses on maintaining a strong balance sheet.