Permian Resources Completes Previously Announced Corporate Reorganization

MIDLAND, Texas – Permian Resources Corporation (NYSE: PR) (“Permian Resources,” “we,” or the “Company”) announced today that it has completed its previously disclosed corporate reorganization, pursuant to which Permian Resources’ management team members and certain other long-term holders exchanged Class C shares for Class A shares. This transaction better aligns management ownership with public investors, enhances the ability of management team members to maintain peer-leading ownership and advances Permian Resources towards the simplification of its current Up-C structure. As previously disclosed, following the transaction, approximately 35.5 million Class C shares are outstanding, and the aggregate amount of Class A and Class C shares is unchanged.