Investor Presentaiton

SandRidge • Go-Forward Strategy The Company's primary strategic focus is to grow the cash value and generation capability of its asset base in a safe, responsible and efficient manner, while prudently allocating capital to high-return opportunities, and remaining vigilant for opportunistic, value-accretive acquisitions, combinations or divestures Continual assessment of capital program and organic-growth inventory based on results, forward-looking commodity prices, costs, and other factors to ensure appropriate level of returns and cash flow accretion Increase the Cash Value and Generation Capacity of SD's Asset Base ◉ Extend and flatten the Company's production profile with relatively low required investment capital, high return and quick payback workovers and other "small ball” projects, as well as with well reactivations as commodity prices justify Maintain flexibility to alter development plans based on current industry environment Continue to press operating and administrative cost reductions where possible, in a responsible manner ■ Maintain a streamlined organizational structure and low G&A burden ■ 6 Continue a High Level of Cash Conversion ■ Enforce tight capital discipline with a focus on high-return projects Manage working capital in a disciplined manner ■ Ensure maintenance of a responsible balance sheet Remain Vigilant for Opportunistic, Value- Accretive Mergers, Acquisitions & Divestitures Focus on value accretive opportunities that could bring synergies, further leverage SD's core competencies, compliment or balance the Company's portfolio of assets, further utilize its approximately $1.6 billion of net operating losses or otherwise yield a competitive return Sufficient infrastructure, assets, optionality to improve margins and remain in constructive local and state regulatory regimes Management believes the Company's balance sheet, sizeable cash position, and access to capital are favorable advantages " Continuation of regular quarterly dividends, subject to quarterly approval by the Board of Directors Prudently Return Capital to Shareholders Uphold ESG Responsibilities ■ ◉ Continuous assessment of return of capital program, striving to balance sufficient resources to execute on value- accretive merger and acquisition opportunities, while prudently returning capital to shareholders through regular, and if needed, special dividends, as well as opportunistic share repurchases Environmental. Committed to harvesting the Company's resources in a safe and environmentally conscious manner, to include renewed dedication and continuance of no routine flaring of produced natural gas Social. Continue strong focus on safety throughout all parts of the organization Governance - Maintain governance best practices - Provide timely, appropriate investor communications Focus on maximizing shareholder value - Independent Board of Directors SandRidge Energy, Inc. NYSE: SD

View entire presentation