Permian Resources Corp Announces Secondary Public Offering of 51.8M Shares, Pricing Details Undisclosed

Permian Resources Corporation ("Permian Resources" or the "Company") (NYSE:PR) today announced the commencement of an underwritten public offering of an aggregate 51,765,000 shares of its Class A Common Stock, par value $0.0001 per share ("Class A common stock"), by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC and a certain member of the Company's Board of Directors (collectively, the "Selling Stockholders").

Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.

Concurrently with the closing of the offering, the Company intends to purchase (the "Concurrent OpCo Unit Purchase") from certain of the Selling Stockholders an aggregate 1,800,000 common units representing limited liability company interests ("OpCo Units") in Permian Resources Operating, LLC, a Delaware limited liability company and a subsidiary of Permian Resources ("OpCo"), at a price per OpCo Unit equal to the price per share at which the underwriter purchases shares of Class A common stock in the offering and to cancel a corresponding number of shares of the Company's Class C Common Stock, par value $0.0001 per share, held by such Selling Stockholders. The offering of Class A common stock is not conditioned upon the completion of the Concurrent OpCo Unit Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon the completion of the offering.