Granite Ridge Investor Presentation Deck

Overview Strategy & Execution Appendix Rigorous Deal Sourcing & Evaluation Process 01 Business Development Assets Deal Sourcing Employ a boots-on-the-ground and all- hands-on-deck approach to deal sourcing 02 Screen an average of nine new deals each week Very selective: closed ~4% of opportunities screened Permian accounts for ~65% of deal flow Engineering, finance and land department collaboration paired with powerful, integrated data analytics results in holistic, systematic deal evaluation 03 Initial Screen On Basin, Size, Operator 1,221 Screened 242 04 Deal Funnel 2021-2023 YTD | Mixed Measures "Double Clicked" Detailed Engineering Final Negotiations / Finance DD 979 Passed 05 56 No Offer 168 Offers Issued 18 Active Evaluations 13 Offers Outstanding 53 Transactions Closed GRNT's focus on full cycle returns results in a highly selective investment process 102 Lost @ GRANITE RIDGE 10

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