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SIGNIFICANT INCREASE IN YEAR-END RESERVES AND PV-10 2P SEC Oil NGL Gas Reserve Category (MMBbl) (MMBbl) (Bcf) Total (MMBoe) % Pre-Tax Reserves¹ Liquids PV10 ($MM) Proved Developed Producing (PDP) 23.7 16.1 499.2 123.0 32.3% $ 2,280.8 PDP 33% 245.8 MMBoe 50% Proved Developed Non-Producing (PDNP) 7.5 1.5 76.8 21.8 41.3% $ 457.6 PDNP Proved Undeveloped (PUD) 9.5 1.3 58.6 20.5 52.4% $ 390.2 PUD 8% Total 1P Reserves (Excluding ARO) 40.6 18.9 634.6 165.3 36.0% $ 3,128.6 PROB 9% Probable Reserves (PROB) 38.1 7.2 211.4 80.5 56.2% $ 1,779.8 Total 2P Reserves (Excluding ARO) 78.7 26.1 845.9 245.8 42.6% $ 4,908.4 Possible Reserves (POSS) 52.9 7.8 Total 3P Reserves (Excluding ARO) 131.6 33.9 233.1 1,079.1 99.5 345.3 61.0% $ 2,378.2 Natural Gas 57.4% Liquids 42.6% 47.9% $ 7,286.6 Est. PV10 of 1P ARO $ (271.5) Proved Reserve PV-101,2 $ in MM $4,000 $3,000 $2,000 $1,622 $1,000 Proved Reserve 1,2 MMBoe Up 93% 180.0 160.0 $3,129 Up 5% 165.3 157.6 140.0 120.0 100.0 YE2021 YE2022 YE2021 YE2022 1) Based on year-end 2022 reserve report at SEC pricing (1P Life) of $94.14/Bbl and $6.36/MMBtu 2) Pre-Tax PV-10 of year-end proved reserves is a non-GAAP financial measure 3) Pre-Tax PV-10 excluding Asset Retirement Obligations 15 W&T OFFSHORE | NYSE:WTI 2P Pre-Tax PV-102,3 36% $4,908 MM 46% 8% 9% W&T OFFSHORE

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