Investor Update November 2023

2023 outlook 2023 capital allocation TOTAL PRODUCTION 98,000 99,000 BOE/D Growing liquids volumes in North Dakota (60.5-61.5 Mbbl/d). Marcellus natural gas volumes expected to be -8% lower yoy due to reduced activity DJ BASIN ■ Drilling & onstreams: 3 wells (98% WI) $ CAPITAL SPENDING RETURN OF CAPITAL $520-$540 MILLION 95% of capital directed to North Dakota (1) -70% of 2023 free cash flow Returned 97% of FCF in H1. Planning to return at least 60% of FCF in H2 1) Based on fourth quarter commodity prices of $80/bbl WTI and $3.00/Mcf NYMEX. MARCELLUS (NON-OP) 1.3 net drills 0.9 net onstreams 95% 2% 3% $520-$540 MILLION enerPLUS ■North Dakota ■Marcellus DJ Basin NORTH DAKOTA ■ Op drills: 61 (85% WI) ■ Op onstreams: 46 (87% WI) ■ Refracs ■ Non-op activity 8

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