On June 9, 2021, Devon Energy Corporation completed its previously announced private offers to exchange any and all of the approximately $2.0 billion aggregate principal amount of outstanding notes of WPX Energy, Inc. (the “WPX Notes”) for new notes issued by the Company (the “Devon Notes”), and, of the total aggregate principal amount of WPX Notes outstanding, approximately $1.96 billion, or 97.45%, were exchanged for Devon Notes. The Devon Notes were issued pursuant to an indenture, dated as of July 12, 2011 (the “Devon Base Indenture”), between the Company and UMB Bank, National Association, as trustee (the “Devon Trustee”), as supplemented by Supplemental Indenture No. 6 and Supplemental Indenture No.

7, each dated as of June 9, 2021 (the “Devon Supplemental Indentures” and, together with the Base Indenture, the “Devon Indenture”), between the Company and the Devon Trustee. The Indenture limits the ability of the Company to incur liens, consolidate, merge or sell its assets, in each case subject to certain exceptions and qualifications set forth in the Indenture. In connection with the Exchange Offers, the Company also paid cash consideration of $1,963,219 in the aggregate, to holders of WPX Notes that validly tendered WPX Notes in the Exchange Offers.

Each of the Devon Notes issued in the Exchange Offers have the same interest payment and maturity dates, interest rate and, except as set forth in the Offer to Exchange and Consent Solicitation Agreement, dated May 10, 2021 (the “Offer to Exchange”), redemption provisions, as the corresponding series of WPX Notes exchanged. The aggregate principal amount of each series of Devon Notes issued in the Exchange Offers are as follows: $224,079,000-8.250% Notes due 2023; $465,268,000-5.250% Notes due 2024; $377,557,000-5.250% Notes due 2027; $322,488,000-5.875% Notes due 2028; and $573,827,000-4.500% Notes due 2030.