Risk Factors Update Summary

• Addition of merger-related risks, including potential disruptions to business relationships and restrictions on pursuing alternatives. This could negatively impact share price and future financial results.
• Added efforts to protect Dunes Sagebrush Lizard habitats while maintaining development plans.
• The completion of the Merger is subject to various closing conditions, including regulatory approvals.
• Increase in proved undeveloped reserves of oil, NGLs, and gas from 120 MMBbls, 86 MMBbls, and 463 Bcf to 122 MMBbls, 78 MMBbls, and 435 Bcf, respectively.
• Imposed a one percent excise tax on corporate share repurchases after December 31, 2022.
• Share price changes may result from factors beyond the company's control, impacting shareholder value.
• The company expects to incur non-recurring costs associated with the Merger and combining operations.
• Introduction of new methane emissions regulations and increased focus on climate change considerations, potentially impacting operations and financial performance.
• The CAMT will impose a 15% minimum tax on certain adjusted financial statement income.
• Added provisions restricting the company's ability to sell its business to a party other than ExxonMobil.