On March 28, 2023, Michael P. Cross, who has been a member of the Board of Directors of Diamondback Energy, Inc. for over a decade since the Company's initial public offering and who currently also serves on the Board's Audit Committee, Compensation Committee, Nominating and Corporate Governance Committee and Safety, Sustainability and Corporate Responsibility Committee, informed the Company of his decision not to stand for re-election at the Company's 2023 Annual Meeting of Stockholders. Mr. Cross' term as a director and committee member will expire immediately after the Annual Meeting. Mr. Cross' decision not to stand for re-election is due to his retirement and not due to any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

The Company is grateful for Mr. Cross' commitment and service to the Company, the Board and the Board's committees.