Investor Presentation June 2023

Forge Acquisition: Adding High Quality Acreage to Permian Footprint KEY STATISTICS DELAWARE ASSET LOCATOR MAP • Agreement to purchase 30.0% undivided interest in Forge assets for $162MM valued at <2.5x . Acreage: 10,200 net acres primarily located in Ward and Reeves Counties, TX • Current Production: ~3,400 Boepd (79% Oil) • GAINES DAWSON BORDEN PDP Wells (Net): 30.5 LEA DDY 1) NTM starting 07/01/2023. • • ANDREWS MARTIN HOWARD • LOVING WINKLER ECTOR MIDLAND GLASSCOCK REEVES CRANE UPTO EAGAN Future Locations (Net): 2.3 wells-in-process and ~20 high-value net undeveloped locations with average breakevens of -$50 NYMEX WTI -$38MM of expected capital spend in next 12 months (1) >$65MM NTM Cash Flow from Operations, commencing July 2023 Transaction effective date March 1, 2023, expected to close at the end of June 2023, subject to satisfaction of closing conditions OPERATOR • NOG is co-purchasing the Forge assets with Vital Energy, which has agreed to acquire 70% of the assets and will serve as operator on substantially all of the properties NOG & Vital enhanced joint operating agreement to provide enhanced line-of-sight to development FINANCIAL HIGHLIGHTS • Expected to be accretive to key financial metrics • Strong free cash flow profile to drive lower leverage ratio PECOS NOG • Forge Leasehold Lower unit costs and higher oil cuts than NOG corporate average Horizontal Producers 2021-2023 • Executed hedges for a significant portion of the production Investor Presentation June 2023 | 13 NOG

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