Devon Energy’s Board, with our Governance Committee on point, takes responsibility for actively monitoring the company’s performance on environmental, social and governance (ESG) issues. Devon is an industry leader in ESG but will not rest on its accomplishments in any area of performance. This is why the Board supports companywide ESG goals as a factor in the compensation for every Devon employee.

We also make a point to participate in some of the company’s engagements with investors. We’ve heard loud and clear that they expect Devon to address and report on ESG oversight, processes and performance with the same rigor as is dedicated to business results. This report is specifically designed to meet those expectations.

For a company to be considered a good investment, model employer, preferred business partner and conscientious community leader, it must be sharply focused on preserving a clean environment, ensuring a safe workplace and sustaining a strong and inclusive business culture. Devon is committed to these principles and welcomes accountability for all of them.

The expectations are especially high for oil and natural gas companies, as countries worldwide seek to displace fossil fuels with renewable forms of energy. Still, hydrocarbons will be a vital part of the global energy mix for decades to come. Devon will continue to proudly meet that need – responsibly and economically.

Devon is proactive and strategic in choosing ESG focus areas, driving change with innovation, collaboration and engagement. And as the relevant metrics become more quantitative and standardized, we expect the company to redouble its commitment to industry leadership in ESG transparency and performance.

Thank you for your interest in Devon. The Board and our Governance Committee welcome your feedback as we continue in our mission to provide effective oversight of the company’s plans and actions with ESG.

Sincerely,