Transaction Details

Footnotes

These derivatives securities are represented by (i) shares of Class B Common Stock, par value $0.000001 per share (the "Class B Common Stock"), of Viper Energy, Inc. (the "Issuer") and (ii) an equal number of units representing limited liability company interests ("Operating Company Units") in Viper Energy Partners LLC, the Issuer's operating company (the "Operating Company"). The Operating Company Units and shares of Class B Common Stock are exchangeable from time to time, at the discretion of their holders, for an equivalent number of shares of the Issuer's Class A common stock, par value $0.000001 per share (the "Class A Common Stock") (that is, one Operating Company Unit and one share of Class B Common Stock, together, are exchangeable for one share of Class A Common Stock). | On May 1, 2025, the Issuer and the Operating Company completed their acquisition (the "Drop Down") of all of the issued and outstanding equity interests in certain mineral and royalty interest-owning subsidiaries of Diamondback Energy, Inc., the Issuer's parent (the "Reporting Person"), for (i) $1.0 billion in cash and (ii) the issuance (the "Equity Issuance") of 69,626,640 shares of Class B Common Stock and an equal number of Operating Company Units to Endeavor Energy Resources, LP, a wholly-owned subsidiary of the Reporting Person. | The Drop Down and the transactions contemplated thereby were approved by (i) the Issuer's audit committee comprised of all independent directors and the full board of directors, in each case on January 30, 2025, and (ii) the majority of the Issuer's stockholders, other than the Reporting Person and its subsidiaries, at the special meeting of the Issuer's stockholders held on May 1, 2025, where the Issuer's stockholders also separately approved the Equity Issuance. | 69,626,640 shares of Class B Common Stock and 69,626,640 Operating Company Units are held by Endeavor Energy Resources, L.P., a wholly-owned subsidiary of the Reporting Person. | Previously reported on Form 4 filed with the SEC on March 8, 2024. | 8,066,528 shares of Class B Common Stock and 8,066,528 Operating Company Units are held by Diamondback E&P LLC, a wholly-owned subsidiary of the Reporting Person.