W&T Offshore Financial Performance

• • MOBILE BAY ACQUISITION - KEY HIGHLIGHTS Acquired ExxonMobil's interests and operatorship in the eastern region of the Gulf of Mexico, offshore Alabama that are adjacent to existing properties owned and operated by W&T as well as related onshore processing facilities ⚫ Allowed for significant synergies, consolidations, and cost savings as W&T became the largest operator in the area • Initial transaction closed on August 30, 2019, with total cash consideration paid of $167.6 MM which included a previously-funded $10 MM deposit ⚫ Utilized cash on hand and previously undrawn revolving credit facility to finance acquisition • • Included working interests in nine GOM offshore producing fields (eight operated) and onshore natural gas treatment facility capable of treating 420 MMcf/d Year-end 2022 proved reserves of ~104 MMBoe¹ of which the vast majority are natural gas (84%) and proved developed producing; 4Q22 avg production of 15.3 MBoe/d Contains future opportunities including Norphlet drilling leads and optimization of compression facilities CC PI MU Shelf Leases Deepwater Leases 90 WC EC HI GA BA Completed consolidation of natural gas treating facilities at Mobile Bay, which resulted in cost savings beginning in 2021 and reduction of GHG emissions Dm 1) Based on year-end 2022 reserve report at 12/31/22 by NSAI at SEC pricing (1P Life) of $94.14/Bbl and $6.36/MMBtu 35 W&T OFFSHORE | NYSE:WTI Low Decline, Long-Life, Mostly PDP Mobile Bay • • Discovered in 1979 27 producing wells 7 major platforms VR 55 SM ΕΙ SS WD PL GI ST EW SP MC W&T OFFSHORE

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