Diamondback Energy, Inc. and Subsidiaries' Ownership in Viper Energy, Inc.

Diamondback Energy, Inc., along with its subsidiaries Diamondback E&P LLC and Endeavor Energy Resources, L.P., filed a Schedule 13D to report their ownership in Viper Energy, Inc. (formerly New Cobra Pubco, Inc.). As of August 19, 2025, Diamondback Energy beneficially owns 47.8% of Viper Energy's Class A Common Stock, Diamondback E&P owns 4.5%, and Endeavor owns 29.1%. The filing details the acquisition of Sitio Royalties Corp. and Old Viper through an all-equity transaction, resulting in the conversion of Old Viper's Class B Common Stock into Viper Energy's Class B Common Stock. The Reporting Persons acquired these shares for investment purposes and retain the right to change their investment intent. The filing also outlines various agreements, including a Services and Secondment Agreement, an Exchange Agreement, and a Registration Rights Agreement, which govern the relationship between the Reporting Persons and Viper Energy. The Reporting Persons have the right to designate up to three directors to Viper Energy's board as long as they collectively own at least 25% of the outstanding common stock.