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 1,364 Screened 285 04 Deal Funnel 2021-2023 YTD | Mixed Measures "Double Clicked" Detailed Engineering Final Negotiations / Finance DD 1,079 Passed 05 77 No Offer 192 Offers Issued 16 Active Evaluations 14 Offers Outstanding 60 118 Lost Transactions Closed GRNT's focus on full cycle returns results in a highly selective investment process @ GRANITE RIDGE 10

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