April 5, 2024

 Diversified Energy Company PLC

("Diversified" or the "Company")

Update on Share Buyback Programme

Diversified Energy Company PLC (LSE:DEC; NYSE:DEC) announces an update regarding its share buyback programme announced on June 27, 2023 (the "Programme").

Since the Company launched the Programme on June 27, 2023, it has repurchased 989,262 shares of 20p each in the Company (the "Ordinary Shares") through the Programme. In accordance with the approvals given at the Annual General Meeting held May 2, 2023, and taking into account Ordinary Shares already repurchased in connection with the Programme, the Company therefore has the remaining authority to buy back up to 3,881,238 of the Ordinary Shares.

To facilitate the Programme, Diversified has today entered into an engagement with Peel Hunt LLP ("Peel Hunt") pursuant to an engagement letter under which the Company has issued an irrevocable instruction providing Peel Hunt with the authority to repurchase Ordinary Shares in the Company subject to certain agreed parameters. Purchases may continue during any closed periods of the Company, and any purchases of shares made during closed periods pursuant to the Programme shall be made independently of and uninfluenced by the Company.

The Company intends to continue to conduct the Programme concurrent with the following parameters:

•     The maximum number of Shares repurchased shall not exceed 4,870,500 Ordinary Shares; and

•     The total consideration of Shares repurchased under the Programme shall not exceed an aggregate market value of £97.4 million

The Programme is in line with the Company's newly announced capital allocation framework which is designed to increase flexibility to conduct a strategic and regimented share repurchase program, while also providing for the opportunity to make accretive acquisitions.

The purpose of the Programme is to reduce the issued share capital of the Company. The Board believes that this Programme will take advantage of a capital allocation opportunity as the Board is of the view that the shares are trading at a substantial discount to net asset value and is an appropriate use of the Company's cash resources.

Diversified will continue to execute the Programme on the London Stock Exchange within the limitations of the shareholder authority granted at the annual general meeting held on May 2, 2023 and any authority granted at any subsequent annual general meeting and will continue to execute the Programme within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (in each case, as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and Chapter 12 of the Financial Conduct Authority's Listing Rules. The Company will hold as treasury shares any Shares repurchased in accordance with the provisions of the Companies Act 2006 and will cancel the Shares thereafter. Diversified will make appropriate disclosures during the buyback period of the number of Shares that the Company has repurchased.

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About Diversified Energy Company PLC

Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.