SM ENERGY CLOSES $950 MILLION SOUTH TEXAS DIVESTITURE; ANNOUNCES REDEMPTION OF ALL OUTSTANDING 2026 SENIOR NOTES

Demonstrates strong momentum toward $1.0 billion-plus asset sale target and advances 2026 priority to bolster the balance sheet DENVER, April 30, 2026 /PRNewswire/ -- SM Energy Company (the "Company" or "SM") (NYSE: SM) today announced the closing of its previously announced sale of certain South Texas assets for a cash purchase price of $950 million (the "South Texas Divestiture"). Net cash proceeds from the sale totaled approximately $900 million, after preliminary purchase price adjustments and estimated transaction costs.