Granite Ridge Investor Presentation Deck

Overview GRNT Strategy Opportunity Set Overview Ground Game or "Burgers & Beer" Strategic Partnerships Acquisitions ● ● Assets ● Format Core growth engine to consolidate the fragmented non-op market Smaller, relationship driven deals that come from years of "boots on the ground" in our primary focus areas Concentrated investments with leading operators Asset-level partnerships that provide for more control over drilling plans and development timing "Consolidating the consolidators" Strategy & Execution Purchasing portfolios from private or PE-backed sellers Average Investment $2-6MM entry with D&C capex of 2-3x entry $20-100MM for acquisition & development >$50MM Average Working Interest <5% 20-60% <2% Appendix Investment Type Leasing and short cycle, drill ready opportunities Short cycle, drill ready opportunities Large PDP + diversified operator inventory @ GRANITE RIDGE 9

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