Civitas Releases Inaugural Corporate Sustainability Report

Outlines Commitments to Climate Leadership, Community Engagement, Corporate Governance

DENVER--(BUSINESS WIRE)--Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or “the Company”) today released its inaugural Corporate Sustainability Report, which highlights the Company’s 2021 environmental and social achievements, outlines the company’s governance structure, and lays out future goals. The report can be found on the Sustainability page of Civitas’ corporate website: www.civitasresources.com/sustainability

“It is with great pride that I introduce Civitas Resources’ inaugural Sustainability Report,” said Ben Dell, Civitas Chairman of the Board. “Civitas represents the coming together of four Colorado energy companies with extensive operating histories in the DJ Basin, who now share a single commitment to safe operations, the environment, and to the communities in which we operate,” he said. “In a short period of time, Civitas has distinguished itself among exploration and production companies as an ESG leader with ambitious objectives.”

Civitas’ key stakeholders – investors, regulators, employees, and communities – demand excellence in sustainability to ensure the Company successfully navigates the transition to a low-carbon economy and maintains its social license to operate as a top-tier energy producer in Colorado.

This inaugural report was produced utilizing three different climate disclosure frameworks in the interest of maximizing transparency as a best practice: the Sustainability Accounting Standards Board (SASB), the Task Force on Climate-related Financial Disclosures (TCFD), and the American Exploration and Production Council (AXPC).

The Company will annually evaluate the climate disclosure framework landscape and evolving market, regulatory, and shareholder expectations to stay abreast of future annual reporting priorities.

About Civitas Resources, Inc.

Civitas Resources, Inc. is Colorado’s first carbon neutral oil & gas producer and is focused on developing and producing crude oil, natural gas and natural gas liquids in Colorado’s Denver-Julesburg Basin. The Company is committed to pursuing compelling economic returns and cash flow while delivering best-in-class cost leadership and capital efficiency. Civitas is dedicated to safety, environmental responsibility, and implementing industry leading practices to create a positive local impact. For more information about Civitas, please visit www.civitasresources.com.

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. For a description of factors that may cause Civitas’ actual results, performance or expectations to differ from any forward-looking statements, please review the information under the heading “Risk Factors” included in Item 1A of Civitas’ 2021 Annual Report on Form 10-K and other documents of Civitas’ on file with the Securities and Exchange Commission. Any forward-looking statements made in this press release are qualified by these cautionary statements, and there can be no assurance that the actual results or developments anticipated by Civitas will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Civitas or its business or operations. Except as required by law, Civitas undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise. We caution you that actual outcomes and results may differ materially from what is expressed, implied or forecasted by Civitas’ forward-looking statements.