Granite Ridge Investor Presentation Deck

Overview Assets Strategy & Execution Strategic Partnerships: How & Why Creating Public Investor Access to the Private Upstream Market Opportunity Flexible Capital Access Partners $Bn $40 li $22 $22 Underinvestment & Lack of Private Equity Fundraising ¹ 1 2015 2016 Declining fundraising and concentrated investments by private equity firms have created opportunities to be a better capital option to proven operators $26 1. Source - Preqin. 2. Source: Enverus; as of 8/4/2023. Granite Ridge strives to be a creative and commercial partner for operators pursuing high rate of return development projects Granite Ridge's strong relationships with private operators have helped to expand our visibility into short cycle investment opportunities Talented, proven teams with identified opportunities are actively seeking alternative, more flexible sources of capital 87% Decline $15 $10 $14 $5 2017 2018 2019 2020 2021 2022 Appendix Private Companies Account for 50% of Rigs ² 2 50% 324 Private Private equity-like exposure with better alignment and daily liquidity 50% 327 Public @ GRANITE RIDGE 14

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