MIDLAND, Texas, March 30, 2023 (GLOBE NEWSWIRE) — On March 28, 2023, Michael P. Cross, a member of the board of directors (the “Board”) of Diamondback Energy, Inc. CATCH (“Diamondback” or the “Company”) has served for over a decade since the Company’s IPO and currently also serves on the Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee and Safety, Sustainability and Corporate Responsibility Committee of the Board of Directors has informed the Company of its decision not to stand for re-election at the Company’s 2023 annual general meeting (the “Annual Meeting”). Mr. Cross’s term of office as Director and Committee Member will expire immediately after the Annual Meeting. Mr. Cross’s decision not to seek re-election was a result of his resignation and not a disagreement with the Company regarding the Company’s operations, policies or practices. The Company is grateful to Mr. Cross for his dedication and service to the Company, the Board and the Board committees.

“Mike was a valuable board member even before the company went public over 10 years ago. Through his business acumen, strategic vision and genuine authenticity, he has been instrumental in making Diamondback the company we are today. I am deeply grateful to Mike for what he did for our company, believing in us from the very first days and supporting us steadfastly thereafter. I consider it a privilege to have worked with Mike and I wish him the very best in life as he continues on his journey,” said Travis Stice, Diamondback’s chairman and chief executive officer.

About Diamondback Energy, Inc.

Diamondback is an independent oil and natural gas company headquartered in Midland, Texas focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves primarily in the Permian Basin of West Texas. For more information, please visit www.diamondbackenergy.com.

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