MAY 19, 2022 1) Footer(s) Transformational Combination of Centennial & Colgate
Establishing a Premier Permian Pure-Play Combined business uniquely 180,000 Net Acres positioned to drive value creation in the Delaware Basin Core Highly-aligned management team, Northern Delaware (NM) with a track record of…
Transaction Overview TRANSACTION STRUCTURE Transaction Highly Accretive CDEV to combine with Colgate in a 7.0bn merger of equals transaction, valuing Colgate at 3.9bn 1 Across all Key Metrics 269.3mm CDEV shares issued to the current…
Colgate Energy Overview Track Record of Consistent, Returns-Driven Execution & Value Creation Colgate Acreage Map COMPANY OVERVIEW Midland-based private E&P co-founded by Will Hickey and James Walter in 2015 Northern Delaware (NM)…
Creating a Differentiated E&P Platform Focused on Delivering Enhanced Equity Returns COMBINING BEST PRACTICES OF TWO HIGH-PERFORMING TEAMS Ability to combine leading edge operational practices Continue momentum of commercial…
Management Ownership Maximizes Alignment % of Pro Forma Equity Owned by Management Team1 12% Pro Forma Company Management Ownership of 12% Meaningfully Higher Than Peer Group Average of 1% Peer Average:1% Source: 1)…
Combining Leading Returns-Driven Teams Colgate Total Annualized Returns CDEV Total Annualized Shareholder Returns (Since 20161) (Since April 20202) 55% 396% 13% 10% 74% 26% 1 2 3 1 2 3 S&P 500 E&P Index E&P Index S&P…
Strong Balance Sheet with Financial Flexibility OVERVIEW Pro Forma Leverage Profile Pro forma company to maintain a strong 1.1x…
Shared Commitment to ESG Program PRIORITIZING ESG SAFE WORKPLACE ESG excellence is a core focus of the pro Maintaining the safety and well-being of forma business, with both companies having employees, contractors and communities is…
Preliminary Pro Forma Outlook KEY CORPORATE OBJECTIVES Maximizing corporate-level returns Generating FCF and returning it to shareholders Returns and payback driven capital allocation strategy Focus on maintaining low leverage…
Differentiated Return of Capital Profile 2022E All-In Return of Capital Yield Permian Peers Base Dividend Variable Dividend 1% Share…
Premier Permian Pure-Play Delivering on Key Investor Criteria Eddy Northern Premier asset quality and inventory depth Delaware (NM) 55,000 Net Acres Lea Significant operational & financial scale Disciplined,…
Appendix 1) Footer(s)
Management Team Positioned for Success Executive Team Board of Directors Will Hickey James Walter Sean Smith Co-Chief Executive Officer Co-Chief Executive Officer Executive Chair Current President, Co-CEO and Current President,…
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