Investor Presentaiton

Q3 2023 CapEx by Basin Capital Expenditures were weighted toward the Permian Basin in Q3, with the Permian expected to lead the charge into year-end. 69% 1% 30% Region Williston Permian Appalachian • Turn-in-lines (TILs) up 64% vs. Q2 23 Despite strong TIL activity, the D&C list grew nearly 10% over the prior quarter and is up nearly 35% year to date from year-end 2022 • TIL activity expected to remain elevated in Q4 before seasonal easing • Low Appalachian CapEx expected to grow through 1H 2024 as completion activity begins Inflation appears to have moderated, but cost reductions in AFES may not be sustainable in a higher priced commodity environment Workover activity declined in Q3 to lowest level of 2023, but is expected to revert to Q1, Q2 run rate in Q4 Investor Presentation November 2023 | 31 NOG

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