FAQ

WHAT WILL CIVITAS STOCKHOLDERS RECEIVE FOR THEIR SHARES OF CIVITAS COMMON STOCK IN THE FIRST MERGER?

• The merger agreement provides that each share of Civitas common stock eligible for conversion will automatically be exchanged for 1.45 shares of SM Energy common stock at the first effective time. Civitas equity awards and warrants will also be assumed or converted by SM Energy in accordance with the terms outlined in the agreement.

IF I AM A CIVITAS STOCKHOLDER, HOW WILL I RECEIVE THE MERGER CONSIDERATION TO WHICH I AM ENTITLED?

• If you hold Civitas shares in certificate form, you will receive a letter with instructions and, once you return the required documents, the exchange agent will send you your SM Energy shares, any applicable dividends, and cash in lieu of fractional shares. Holders of book‑entry Civitas shares will automatically receive their SM Energy shares, dividends, and any cash for fractional shares within a few business days after the first effective time.

WILL THE SHARES OF SM ENERGY COMMON STOCK THAT I ACQUIRE IN THE FIRST MERGER RECEIVE A DIVIDEND?

• After the closing of the mergers, as a holder of SM Energy common stock, you will receive the same dividends on shares of SM Energy common stock that all other holders of SM Energy common stock will receive for any dividend with a record date that occurs after the first effective time.

For a calendar of scheduled events regarding SM Energy, please click here.

All financial data is filed and archived with the Securities and Exchange Commission. To access this data online, click here. Additionally, interactive financials are available online. To access this data, click here.

No. SM Energy stock can only be purchased through brokerage firms.

Text: Yes, SM Energy has paid cash dividends since 1940. In June 2024, the company announced that its Board of Directors approved an increase in the fixed dividend policy, with the intention to pay $0.80 per share annually, to be paid in quarterly increments of $0.20 per share, beginning in 4Q24. The increase is part of a return of capital strategy that is intended to support long-term, sustainable capital investment and balance sheet strength with upside.

SM Energy does not have a dividend reinvestment program at this time.

If your stock is held through a brokerage firm, the changes can be made with the person servicing your account.

If you are a "shareholder of record", meaning you hold the stock directly in your name, you need to contact SM Energy’s stock transfer agent:

Computershare Investor Services
350 Indiana Street,
Ste. 800
Golden, CO 80401
Phone: 303-262-0600
Fax: 303-260-0700

Or, visit their website for useful information and change forms: www.computershare.com

All new press announcements are placed online as soon as they are released. Click here to access the most current and archived press releases.

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