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6 NYSE American: EPM Proven History of Total Shareholder Return $ • TA Kil • • • Consistent Return of Capital • Consecutively paid dividends since December 2013 Steady increase in base dividend in response to increased cash flow generation Share buybacks have been and remain part of the equation. Proven Non-op Accretive Acquiror . Closed 4 acquisitions from 11/19 - 4/22 increasing reserves & production by ~6x Recent acquisitions provide potential upside from drilling and workover opportunities Ample available liquidity with cash on hand and remaining unused borrowing base High Quality, Low Risk, Long-Lived Asset Base Low production decline; 20+ years remaining life Minimal capital requirements leading to positive free cash flow throughout commodity cycle Option to generate incremental share value through development drilling Solid Financial Position $98.4 Million Returned to Shareholders Since December 2013 (dividends and buybacks) $ Low leverage at less than 1x debt/Adjusted EBITDA (¹) ($0.0 MM debt outstanding at 12/31/22) Conservative balance sheet and strong cash flows allow patience and flexibility . Minimal hedges in place through March 2023 • Substantial additional free cash flow from recent acquisitions Current Dividend Yield (Annualized 3Q23) 7.5 % Shareholder Return Per Share since December 2013 (including buybacks) 2.85 I 1 Notes: 1. See Non-GAAP Reconciliation disclosure on slide 2 and Non-GAAP Reconciliation table on slide 26. AEVOLUTION Petroleum Corporation

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