Material Agreement (Form 8-K)

On March 24, 2026, Devon Energy Corporation, a Delaware corporation (the "Company"), entered into a First Amendment to Amended and Restated Credit Agreement (the "Amendment"), by and among the Company, as borrower, the lenders and the letter of credit issuers party thereto and Bank of America, N.A., as administrative agent, which amends that certain Amended and Restated Credit Agreement, dated as of March 24, 2023 (as amended, restated, amended and restated, supplemented or otherwise and in effect immediately prior to the effectiveness of the Amendment, the "Credit Agreement"). The Amendment, among other things, (i) extends the maturity date of the Credit Agreement from March 24, 2030 to March 24, 2031, (ii) renews the Company's right to request three one-yearmaturity extensions (subject to the agreement of lenders having commitments representing more than 50% of the aggregate commitments of all lenders) and (iii) removes the 10 basis point credit spread adjustment to the SOFR-based rates under the Credit Agreement.

The foregoing summary description of the Amendment does not purport to be complete and is qualified in its entirety by reference to a copy of the Amendment filed as Exhibit 10.1 to this report and incorporated herein by reference.

Certain of the agents and lenders under the Credit Agreement (as amended by the Amendment) and their respective affiliates have provided certain commercial banking, financial advisory and investment banking services to the Company and its affiliates in the past and may do so in the future.