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Investor Presentaiton

Peer Leading EBITDA-to-FCF Conversion and Net Leverage Free cash flow as a percentage of EBITDA leads peers . No debt obligations SD LTM EBITDA-to-FCF conversion of >95% Free Cash Flow as a % of EBITDA, SD (FY23) to Peers (3Q23 YTD) (3)(17) 100% 80% 60% 40% 20% 0% -20% -40% -60% -80% SD 2023 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Peer 8 Peer 9 Peer 10 Peer 11 Peer 12 Peer 13 Peer 14 Peer 15 Peer 16 Net Leverage Ratio, SD (FY23) to Peers (3Q23 YTD) (17)(21) 3.0x 2.5x 2.0x 1.5x 1.0x 0.5x 0.0x n.a. n.a. n.a. SD 2023 Peer 1 Peer 14 Peer 10 Peer 2 Peer 16 Peer 4 Peer 6 Peer 15 Peer 13 Peer 12 Peer 11 Peer 3 Peer 5 Peer 7 Peer 9 Peer 8 14 SandRidge Energy, Inc. NYSE: SD
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