Devon Energy Corporation Statements on Climate Change “In addition to regulatory risk, other market and social initiatives resulting from the changing perception of climate change present risks for our business. For example… governmental entities and other plaintiffs have brought, and may continue to bring, claims against us and other oil and gas companies for purported damages caused by the alleged effects of climate change. These and the other regulatory, social and market risks relating to climate change described above could result in unexpected costs, increase our operating expense and reduce the demand for our products, which in turn could lower the value of our reserves and have a material adverse effect on our profitability, financial condition and liquidity.”104 “Devon expects development of new energy sources to continue. Meanwhile, it’s our job to produce the energy the world needs now, and to do it thoughtfully and responsibly. We execute our plans based on rigorous analysis of the global outlook for energy and the potential for new regulations, while recognizing concerns about climate change. We’re confident that oil and natural gas will remain the world’s most affordable and accessible forms of energy for many years to come. And Devon intends to be a sustainable provider of these essential resources over the long term.”105 “To be an industry leader, we must be good stewards as we pursue innovation and operational excellence in our exploration and production activities. In the process, we will continually seek to minimize and mitigate the impact of climate change.”106 “We believe energy efficiency and conservation are the most immediate and cost effective ways to reduce emissions. Devon is assessing emerging technologies that could reduce GHG emissions associated with our energy production operations. For example, Devon is a charter member of Canada’s Oil Sands Innovation Alliance, which is a collaborative partnership of oil sands producers focusing on innovative solutions to environmental challenges, such as emissions reduction. Devon also is actively engaged in collaborative efforts to explore the potential for carbon capture and storage technologies as part of our long-term (10+ year) strategy for reducing GHG emissions. Our business strategy includes commitment to be an innovative industry leader in exploration and production as well as in stewardship. By taking a proactive approach to emissions reduction and other sustainability issues, we earn stakeholder trust. As we incorporate new emission reduction ideas, we reduce emissions, earn continued trust and lower the cost of regulatory compliance.”107 Devon Energy Corp. (2018), Annual Report, p. 21, available at http://d18rn0p25nwr6d.cloudfront.net/CIK0001090012/4b895d1b-6146-4591-bd53-592581178bf8.pdf (last accessed on 12 September 2019). 105 Devon Energy Corp. (2018), Sustainability Report 2018, p. 11, available at http://www.devonenergy.com/documents/Sustainability/Pages/DVN_SR18_0_FULL-REPORT.pdf (last accessed on 12 September 2019). 106 Id., p. 21. 107 Devon Energy Corp. (2018), Climate Change 2018, p. 14, available at http://www.devonenergy.com/documents/Sustainability/Environment/DVN-2018-CDP-Climate-Response.pdf (last accessed on 12 September 2019). 104 Annex D: Corporate Statements on Climate Change and Human Rights | 26