Civitas Resources, Inc. (NYSE:CIVI) ("Civitas" or the "Company"), today announced that its Board of Directors approved a quarterly dividend of $1.50 per share, payable on June 26, 2024 to shareholders of record as of June 12, 2024. The amount reflects the combination of the base dividend of $0.50 per share and a variable dividend of $1.00 per share. Additional details regarding the calculation of the variable dividend can be found in the Company's latest investor presentation located on its website.

About Civitas

Civitas Resources, Inc. is an independent, domestic oil and gas producer focused on development of its premier assets in the Denver-Julesburg ("DJ") and Permian Basins. Civitas has a proven business model combining capital discipline, a strong balance sheet, cash flow generation and sustainable cash returns to shareholders. Civitas employs leading ESG practices and is Colorado's first carbon neutral oil and gas producer. For more information about Civitas, please visit www.civitasresources.com.

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