Investor Presentaiton

9 Midcon Operating Cost Structure Since 2016, the Company lowered its annualized absolute LOE by >65%, and continues cost discipline focus while actively combating recent inflationary pressures Overview ■ Continuous review of individual well profitability to assess well reactivation or curtailment decisions ■ Reduced field personnel from 231 to 88 while maintaining high safety LOE (16) $150 LOE Expense Workover ----WTI ($/Bbl) $100 $80 standards ◉ 24-hour Operations Center with ■ advanced SCADA telemetry ensuring activity optimization, as well as monitoring to help prevent safety or environmental issues Optimized use of chemical treatments and continued rebidding of supplies to ensure optimal costs ☐ Routinely secured artificial lift and maintenance equipment to offset inflation and supply chain constraints ■ Continuous and rigorous RFP process to ensure competitive pricing Continued focus on artificial lift design and optimization helps mitigate failures and reduce electricity usage, to include new rod pump downhole gas separation technology to reduce failures and increase production efficiency Optimization of SWD system with a focus on peak power rates and adjustments to variable speed drives will help offset increases in electricity cost SD LOE ($MM) $16.0 $100 WTI ($/Bbl) $60 $40 440 $13.2 $11.3 $13.9 $50 $104.1 $10.0 $9.1 $62.8 $6.1 $9.0 $53.7 $53.7 $20 $28.3 $26.2 $31.2 $32.8 $0 $- 2016 2017 2018 2019 2020 2021 2022 2023 LOE + Expense Workovers ($/Boe) - Recent Quarter Peer Comparison (17) $25.73 $21.30 $16.94 $17.67 $18.74 $19.57 Peer Average: $14.68 $13.08 $9.49 $10.13 $11.23 $7.86 $8.21 $6.31 $6.80 $6.96 $4.26 W/O LOE $37.42 Peer 1 Peer 2 SD 2023 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer 16 SandRidge Energy, Inc. NYSE: SD

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