27 September 2022

 Diversified Energy Company PLC

("Diversified" or the "Company")

Share Buyback Programme

Diversified Energy Company PLC (LSE:DEC) announces that the Company's Board of Directors (the "Board) has approved the terms of a share buyback programme (the "Programme") to buy back the Company's ordinary shares of 1p each (the "Shares"). The Company intends to conduct the Programme over the next several months and concurrent with the Company's standing dividend policy. Upon expiry as of Diversified's next Annual General Meeting, the Board will reevaluate the form and quantum of the Programme.

The Company believes that the current volatility and general weakness of the market combined with the strength of the U.S. dollar versus the Great British pound represents an opportunity to create value for shareholders. Under the Programme, the Company, at its discretion and on occasion, may purchase its Shares in open market transactions depending on market conditions, share price, trading volume and other factors.  The Board believes that the Programme, if and when implemented, will represent an appropriate use of the Company's cash resources relative to its net asset value.

The Company intends the Programme to reduce its share capital and will limit the maximum number of Shares repurchased to 10% of current shares outstanding or 85,004,655 Shares.  Diversified will make appropriate disclosures during the buyback period of the number of Shares that the Company has repurchased.

Diversified will execute the Programme on the London Stock Exchange within the limitations of the shareholder authority granted at the annual general meeting held on 26 April 2022 and within the parameters of the Market Abuse Regulation 596/2014/EU and the Commission Delegated Regulation 2016/1052/EU (in each case, as it forms part of UK law pursuant to the European Union (Withdrawal) Act 2018) and Chapter 12 of the Financial Conduct Authority's Listing Rules. The Company will hold as treasury shares any Shares repurchased in accordance with the provisions of the Companies Act 2006 and will cancel the Shares thereafter.

Stifel Nicolaus Europe Limited will purchase Shares under the Programme on behalf of the Company. Any purchases of shares made during closed periods pursuant to the Programme shall be made independently of and uninfluenced by the Company.

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About Diversified Energy Company PLC

Diversified Energy Company PLC is an independent energy company engaged in the production, marketing and transportation of primarily natural gas related to its synergistic US onshore upstream and midstream assets.

Cautionary Statement

This announcement may contain certain forward-looking statements, including with respect to the Company's current targets, expectations and projections about future performance, anticipated events or trends and other matters that are not historical facts. These forward‐looking statements, which sometimes use words such as "aim", "anticipate", "believe", "intend", "plan", "estimate", "expect" and words of similar meaning, include all matters that are not historical facts and reflect the directors' beliefs and expectations, made in good faith and based on the information available to them at the time of the announcement. Such statements involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward‐looking statement and should be treated with caution. Any forward-looking statements made in this announcement by or on behalf of the Company speak only as of the date they are made. Except as required by applicable law or regulation, the Company expressly disclaims any obligation or undertaking to publish any updates or revisions to any forward-looking statements contained in this announcement to reflect any changes in its expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

Inside Information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) no. 596/2014 ("MAR") (as in force in the UK and as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019). On the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

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