Devon Energy Announces Merger with Coterra Energy - Pro Forma Financials and Reserves Update

This filing provides unaudited pro forma combined financial information for Devon Energy Corporation and Coterra Energy Inc. in connection with their previously announced merger. The information includes a pro forma combined balance sheet as of December 31, 2025, and a pro forma combined statement of operations for the year ended December 31, 2025. These statements are presented as if the merger had been completed on the respective dates, reflecting the acquisition method of accounting with Devon as the acquirer. The filing also details the preliminary purchase price allocation, estimated merger consideration, and provides supplemental pro forma information on combined oil, natural gas, and NGL reserves as of December 31, 2025. The pro forma reserve and discounted cash flow information is presented as if the merger occurred on January 1, 2025, but uses reserve estimates from December 31, 2025, as if the companies were separate. The actual results post-merger may differ materially from these pro forma statements.