Diamondback Energy, Inc. announced that it has priced an offering of $850,000,000 in aggregate principal amount of 5.200% senior notes that will mature on April 18, 2027 (the ?2027 Notes?), $850,000,000 in aggregate principal amount of 5.150% senior notes that will mature on January 30, 2030 (the ?2030 Notes?), $1,300,000,000 in aggregate principal amount of 5.400% senior notes that will mature on April 18, 2034 (the ?2034 Notes?), $1,500,000,000 in aggregate principal amount of 5.750% senior notes that will mature on April 18, 2054 (the ?2054 Notes?) and $1,000,000,000 in aggregate principal amount of 5.900% senior notes that will mature on April 18, 2064 (the ?2064 Notes? and, together with the 2027 Notes, the 2030 Notes, the 2034 Notes and the 2054 Notes, the ?Notes?). The price to the public is 99.956% of the principal amount for the 2027 Notes, 99.830% of the principal amount for the 2030 Notes, 99.679% of the principal amount for the 2034 Notes, 99.957% of the principal amount for the 2054 Notes and 99.954% of the principal amount for the 2064 Notes.

Diamondback intends to use the net proceeds from the Notes Offering for general corporate purposes, including, without limitation, paying a portion of the cash consideration for the pending acquisition of Endeavor Parent, LLC (?Endeavor?), repaying certain debt of Endeavor and/or its subsidiaries and paying fees and expenses related thereto. The Notes Offering is expected to close on April 18, 2024, subject to customary closing conditions. The Notes will be sold in a registered offering pursuant to an effective shelf registration statement on Form S-3ASR that was previously filed with the Securities and Exchange Commission, a prospectus supplement and related base prospectus for the Notes Offering.