Devon Energy Corp. Completes Merger with Coterra Energy Inc.

Devon Energy Corporation has completed its merger with Coterra Energy Inc. The merger was completed on May 7, 2026, following the Agreement and Plan of Merger dated February 1, 2026. Cubs Merger Sub, Inc., a subsidiary of Devon, merged with Coterra, with Coterra surviving as a wholly-owned subsidiary of Devon. Coterra stockholders received 0.70 shares of Devon common stock and cash for fractional shares. The unaudited pro forma combined financial statements, including the balance sheet as of March 31, 2026, and statements of operations for the three months ended March 31, 2026, and the year ended December 31, 2025, are included in this filing. These statements present the combined financial position and results as if the merger occurred on January 1, 2025. The transaction is accounted for using the acquisition method, with Devon as the accounting acquirer. Preliminary purchase price allocation is based on estimates and is subject to change. The pro forma statements do not reflect anticipated cost savings or revenue opportunities post-merger.