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SM ENERGY COMPANY

(SM)
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SM Energy : CDP Climate Change Questionnaire 2021 *NEW*

07/29/2021 | 01:07am EDT

CDP CLIMATE CHANGE QUESTIONNAIRE 2021

SM Energy is pleased to participate in the 2021 CDP Climate Change Questionnaire.

Following investor engagement and discussions relating to environmental, social and governance ("ESG") matters, it was determined that increased disclosure regarding ESG risk management and metrics would provide better insight to SM Energy's sustainability business practices. Please note:

  • The Task Force on Climate related Financial Disclosures (TCFD) framework is attached to the CDP submittal and separately posted to the Company's website; and
    • SM Energy's responses exclusively comprise 2020 results.

FORWARD-LOOKING STATEMENTS

SM Energy's responses to the CDP Climate Change Questionnaire contain "forward-looking statements" within the meaning of securities laws. Responses include discussion of potential future risks

and opportunities, the Company's planned processes for evaluating potential future risk, and certain plans, objectives, expectations and forecasts. These statements involve known and unknown risks, which may cause SM Energy's actual results, plans, objectives, expectations and forecasts to differ materially from results, plans, objectives, expectations and forecasts expressed or implied by the forward-looking statements. Responses to the CDP Climate Change Questionnaire include descriptions of forward-looking risks and opportunities that employ third-party or other hypothetical scenarios that do not reflect or forecast the Company's expectations for the future but rather provide certain potential implications to the Company's plans, quantifiable and non- quantifiable, under such hypothetical circumstances. All statements, other than statements of historical fact, included in the CDP Climate Change Questionnaire are subject to assumptions, risks and uncertainties that are beyond our control. Future results, plans, objectives, expectations and forecasts may be impacted by the risks discussed in the Risk Factors section of SM Energy's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q or other filings with the SEC. The forward-looking statements contained herein speak as of the date of this questionnaire. Although SM Energy may from time to time voluntarily update its prior forward- looking statements, it disclaims any commitment to do so, except as required by securities laws.

SM Energy Co. CDP Climate Change Questionnaire 2021

Welcome to your CDP Climate Change

Questionnaire 2021

C0. Introduction

C0.1

(C0.1) Give a general description and introduction to your organization.

SM Energy Company ("SM Energy" or the "Company") is an independent energy company engaged in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids. Founded in 1908, SM Energy, a Delaware corporation, has been publicly traded on the New York Stock Exchange (NYSE) since 2002, under the ticker symbol SM. SM Energy operations are located onshore in the United States in two main operating areas: the Midland Basin in West Texas, and the Maverick Basin in South Texas. Proved reserves are balanced among the Company's two operating areas, with a total of approximately 405 million barrels of oil equivalent (Boe) at the end of 2020. In 2020, the Company reported full year sales volumes of 127 thousand barrels of oil equivalent per day, consisting of 50% crude oil, 37% natural gas, and 13% natural gas liquids. The core values of integrity and ethical behavior are the pillars of our culture, and as a result, the health and safety of our employees and contractors is our highest priority. All employees are responsible for upholding Company-wide standards and values. We have many long-standing policies designed to promote ethical conduct and integrity, that employees are required to read and acknowledge on an annual basis. Employees are consistently provided training opportunities to develop skills in leadership, safety, and technical acumen, which help strengthen our efforts in conducting business with high ethical standards. Our purpose is to make people's lives better by responsibly producing energy supplies, contributing to domestic energy security and prosperity, and having a positive impact in the communities where we live and work. For more information about SM Energy, please visit www.sm-energy.com.

SM Energy's responses to the CDP Climate Change Questionnaire contain "forward-looking statements" within the meaning of securities laws. Responses include discussion of potential future risks and opportunities, the Company's planned processes for evaluating potential future risk, and certain plans, objectives, expectations and forecasts. These statements involve known and unknown risks, which may cause SM Energy's actual results, plans, objectives, expectations and forecasts to differ materially from results, plans, objectives, expectations and forecasts expressed or implied by the forward-looking statements. Responses to the CDP Climate Change Questionnaire include descriptions of forward-looking risks and opportunities that employ third-party or other hypothetical scenarios that do not reflect or forecast the Company's expectations for the future but rather provide certain potential implications to the

1

SM Energy Co. CDP Climate Change Questionnaire 2021

Company's plans, quantifiable and non-quantifiable, under such hypothetical circumstances. All statements, other than statements of historical fact, included in the CDP Climate Change Questionnaire are subject to assumptions, risks and uncertainties that are beyond our control. Future results, plans, objectives, expectations and forecasts may be impacted by the risks discussed in the Risk Factors section of SM Energy's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q or other filings with the SEC. The forward-looking statements contained herein speak as of the date of this questionnaire. Although SM Energy may from time to time voluntarily update its prior forward-looking statements, it disclaims any commitment to do so, except as required by securities laws.

C0.2

(C0.2) State the start and end date of the year for which you are reporting data.

Start date

End date

Indicate if you are providing emissions data for

past reporting years

Reporting

January 1,

December 31,

No

year

2020

2020

C0.3

(C0.3) Select the countries/areas for which you will be supplying data.

United States of America

C0.4

(C0.4) Select the currency used for all financial information disclosed throughout your response.

USD

C0.5

(C0.5) Select the option that describes the reporting boundary for which climate- related impacts on your business are being reported. Note that this option should align with your chosen approach for consolidating your GHG inventory.

Operational control

C-OG0.7

(C-OG0.7) Which part of the oil and gas value chain and other areas does your organization operate in?

Row 1

Oil and gas value chain

Upstream

Other divisions

2

SM Energy Co. CDP Climate Change Questionnaire 2021

C1. Governance

C1.1

(C1.1) Is there board-level oversight of climate-related issues within your organization?

Yes

C1.1a

(C1.1a) Identify the position(s) (do not include any names) of the individual(s) on the board with responsibility for climate-related issues.

Position of

Please explain

individual(s)

Board-level

SM Energy's Environmental, Social and Governance Committee ("ESG

committee

Committee") of its Board of Directors ("Board") is charged with oversight of climate-

related issues. The ESG Committee reviews and assesses the effectiveness of the

Company's ESG initiatives, and monitors, responds to, and makes

recommendations regarding ESG-related trends and emerging issues, including

climate-related risks and opportunities, and stockholder proposals. The ESG

Committee regularly reports to the full Board with updates, recommendations and

proposals. During 2020, the ESG Committee decided to engage a third-party to

perform a scenario analysis using the IEA Sustainable Development Scenario to

better understand the impacts of a possible carbon-constrained future, and further,

made the decision to engage an outside firm to perform the verification of reported

Scope 1 emissions. In addition, our CEO, who is a member of the Board of

Directors, is a member of our management ESG Committee and directs

management's efforts and responsibilities for climate-related issues.

The charter of our ESG Committee can be accessed at: sm-energy.com/about-

us/governance.

C1.1b

(C1.1b) Provide further details on the board's oversight of climate-related issues.

Frequency with

Governance

Please explain

which climate-

mechanisms into

related issues

which climate-related

are a scheduled

issues are integrated

agenda item

Scheduled - all

Reviewing and guiding

SM Energy's ESG Committee meets on a regular

meetings

strategy

basis and is charged with, among other things,

oversight of climate-related issues.

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

SM Energy Company published this content on 29 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 05:06:09 UTC.


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