UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ¨ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR þ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ¨ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

DELIVERING ON A DE-RISKED PRODUCTION MODEL Dynamic hedging sustains realized pricing and delivers consistent cash margins Development/Operational Risk 21 2023 Final Results O&G undergoing a historic consolidation wave comparable to the late 1990s 23 2023 Final Results Scale Through Accretive Growth Financial and Operational Flexibility Cost Structure Optimization Sustainability Innovation 25 2023 Final Results Sustainable Fixed Dividend Deliver top quartile yield while providing a meaningful return of capit ...

Diversified Energy Company PLC. (OTCQX:DEC) Q4 2023 Earnings Conference Call March 19, 2024 4:00 AM ET Company Participants Douglas Kris - VP, IR Robert Hutson - CEO Bradley Gray - President & CFO Conference Call Participants David Round - Stifel Matt Cooper - Peel Hunt Tim Hurst-Brown - Tennyson Securities Simon Scholes - First Berlin Noel Parks - Tuohy Brothers Alex Smith - Investec Mark Wilson - Jefferies Operator Ladies and gentlemen, good morning. And welcome to Diversified Energy 2023 Final Results Ea ...

Financial Performance - Net income for FY 2023 was $760 million, including $688 million from tax-effected, non-cash unsettled derivative fair value adjustments, while adjusted EBITDA was $543 million, generating free cash flow of $219 million[5]. - Net income for the year ended December 31, 2023, was $759.7 million, a significant increase from a net loss of $620.6 million in 2022[41]. - Total revenue for 2023 was $868.3 million, down from $1.9 billion in 2022, while total revenue inclusive of settled hedges was $1.046 billion, slightly up from $1.024 billion in 2022[43]. - Adjusted EBITDA for 2023 was $542.8 million, representing an increase from $503 million in 2022, with an adjusted EBITDA margin of 52% compared to 49% in the previous year[41][43]. - The net gain on commodity derivative instruments for 2023 was $178.1 million, compared to a loss of $895.8 million in 2022[43]. - Free cash flow for the year ended December 31, 2023, was $219,096, an increase from $217,727 in 2022, but a decrease from $227,334 in 2021[44]. - Pro forma adjusted EBITDA for 2023 was $549,258, reflecting adjustments for acquisitions, compared to $574,414 in 2022[46]. Production and Operations - Record average net daily production reached 821 MMcfepd, with a December exit rate of 775 MMcfepd, reflecting a peer-leading consolidated corporate production decline rate of approximately 10%[5]. - The corporate decline rate in production was approximately 10%, with Q4 2022 production at ~134 Mboepd compared to adjusted Q4 2023 production of ~122 Mboepd[41]. - The acquisition is projected to add production of 122 MMcfepd, representing a 15% increase compared to previously announced 2023 average daily production[8]. - The company plans to continue its strategy of acquiring existing, long-life assets to improve operational performance and environmental sustainability[30]. Debt and Capital Allocation - The company reduced outstanding debt by approximately 15% since interim results, returning $180 million in capital to shareholders in 2023 through dividends and strategic share repurchases[21]. - The updated capital allocation framework aims to reduce leverage to a target range of 2.0x to 2.5x, with planned debt repayments of over $200 million during 2024[17][24]. - Net debt as of December 31, 2023, was $1,284,843, down from $1,435,449 in 2022, and up from $1,010,005 in 2021[46]. - Total debt as of December 31, 2023, was $1,324,848, a decrease from $1,498,166 in 2022 and an increase from $1,041,665 in 2021[46]. - Cash paid for interest increased to $116,784 in 2023 from $83,958 in 2022, reflecting higher financing costs[44]. - Deferred cash payments of approximately $90 million to Oaktree will be paid over an 18-month term with an 8% annual interest rate[41]. Sustainability and Environmental Impact - The company achieved a 33% reduction in Scope 1 methane intensity to 0.8 MT CO2e/MMcfe from 1.2 in 2022, seven years ahead of its 2030 goal[5]. - The company anticipates issuing its 2023 Sustainability Report in April 2024, reflecting its commitment to sustainability and operational efficiency[5]. - The company is recognized for its sustainability leadership and aims to deliver reliable free cash flow while generating shareholder value[30]. Strategic Initiatives - The company announced a strategic acquisition of working interests from Oaktree Capital for an estimated gross purchase price of $410 million, expected to increase average working interest in the acquired assets by approximately 100%[7][10]. - The company plans to maintain a fixed quarterly dividend of $0.29 per share, equating to $1.16 annually, sustainable for at least three years, while reallocating approximately $110 million annually towards other capital allocation needs[17].

Diversified Energy Company PLC (DECPF) Q4 2022 Results Conference Call March 21, 2023 3:00 AM ET Company Participants Douglas Kris - VP, IR Robert Hutson - CEO Eric Williams - CFO Bradley Gray - COO Conference Call Participants Matthew Cooper - Peel Hunt Operator Greetings. Welcome to Diversified Energy Company's 2022 Final Results Conference Call. [Operator Instructions] Please note that this conference is being recorded. At this time, I'll turn the conference over to Douglas Kris, Vice President of Inves ...

Diversified Energy Company PLC (DECPF) Q2 2022 Earnings Conference Call August 8, 2022 3:00 AM ET Company Participants Rusty Hutson - Co-Founder and CEO Brad Gray - EVP and COO Eric Williams - EVP and CFO Doug Kris - IR Conference Call Participants David Round - Stifel Alex Smith - Investec Mark Wilson - Jefferies Operator Greetings, and welcome to the Diversified Energy 2022 Interim Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn t ...

Diversified Energy Company PLC (DECPF) Q4 2021 Earnings Conference Call March 22, 2022 9:00 AM ET Company Participants Rusty Hutson - Co-Founder and Chief Executive Officer Bradley Gray - Executive Vice President and Chief Operating Officer Eric Williams - Executive Vice President and Chief Financial Officer Conference Call Participants David Round - Stifel Financial Corp. Matthew Cooper - Peel Hunt Mark Wilson - Jefferies LLC Simon Scholes - First Berlin Brendan D'Souza - Dowgate Capital Operator Greetings ...

2021 Final Results March 2022 DIV.energy DISCLAIMER The information contained in this document (the "Presentation") has been prepared by Diversified Energy Company PLC ("Diversified" or the "Company"). This Presentation is not to be copied, published, reproduced, distributed or passed in whole or in part to any other person or used for any other purpose. This Presentation is for general information purposes only and does not constitute an invitation or inducement to any person to engage in investment activi ...

B DIVERSIFIED ENERGY COMPANY PLC M Investor Presentation August 2021 DISCLAIMER The information contained in this document (the "Presentation") has been prepared by Diversified Energy Company PLC ("Diversified" or the "Company"). This Presentation is not to be copied, published, reproduced, distributed or passed in whole or in part to any other person or used for any other purpose. This Presentation is for general information purposes only and does not constitute an invitation or inducement to any person to ...

DIVERSIFIED ENERGY COMPANY PLC PAT Interim Results Rusty Hutson, Jr. | Co-Founder & CEO Brad Gray | Executive Vice President & COO Eric Williams | Executive Vice President & CFO 5 August 2021 DISCLAIMER The information contained in this document (the "Presentation") has been prepared by Diversified Energy Company PLC ("Diversified" or the "Company"). This Presentation is not to be copied, published, reproduced, distributed or passed in whole or in part to any other person or used for any other purpose. This ...