Vital Energy, Inc. completed a private offering of $800,000,000 aggregate principal amount of 7.875% senior notes due 2032. The Notes were issued pursuant to an indenture, dated as of March 28, 2024 (the ?Indenture?), among the Company, Vital Midstream Services, LLC, a subsidiary of the Company (the ?Guarantor?), and U.S. Bank Trust Company, National Association, as trustee (the ?Trustee?). The Notes are senior unsecured obligations of the Company.

The Notes are guaranteed on a senior unsecured basis by the Guarantor and may in the future be guaranteed by certain of the Company?s future restricted subsidiaries. The Notes rank equally in right of payment with all of the Company?s existing and future senior indebtedness and senior to any subordinated indebtedness that the Company may incur. Each guarantee ranks equally in right of payment with all existing and future senior indebtedness of the guarantor and senior to any subordinated indebtedness that the guarantor may incur.

The Notes will mature on April 15, 2032 with interest accruing at a rate of 7.875% per annum and payable semi-annually, in cash in arrears, on April 15 and October 15 of each year, commencing October 15, 2024. At any time prior to April 15, 2027, the Company may, on one or more occasions, redeem up to 35% of the aggregate principal amount of the Notes using funds in an amount not exceeding the net proceeds from one or more private or public equity offerings at a redemption price of 107.875% of the principal amount of the Notes redeemed, plus accrued and unpaid interest to the date of redemption, if at least 65% of the aggregate principal amount of the Notes remains outstanding immediately after such redemption and the redemption occurs within 180 days of the closing date of each such equity offering. At any time prior to April 15, 2027, the Company may, on one or more occasions, redeem all or a part of the Notes at a redemption price equal to 100% of the principal amount of the Notes redeemed, plus a ?make-whole?

premium as of, and accrued and unpaid interest, if any, to, the redemption date.