Investor Presentaiton

2023 Guidance and Capital Budget The Company remains on track, with improvements to differentials and G&A unit costs. Activity ramping into 2024. 75.0 - 78.0 76.0 -79.0 $790 - $820 . • COMMENTARY Tightening annual production range for expectations for 2023, giving allowances for typical winter weather risks, timing of completions Oil Weighting as a percent of production consistent with prior guidance D&C List driving 2H23 CapEx: TIL count unchanged, but 2023 well spuds are up 8.0 net wells at the midpoint, D&C list was up 6.2 net wells Q/Q despite record Q3 TILS LOE remains inline with prior guidance, expect modest increase in fourth quarter unit costs • Improved annual oil differentials and natural gas realizations, a reflection of better pricing year-to-date Expect wider oil differentials in Q4; Williston and Permian differentials weakening seasonally • Gas realizations expected at slightly lower levels for Q4 versus Q3; NGL to gas ratio primary driver • DD&A, G&A per Boe, production taxes all remain unchanged 2023 Guidance Prior Current Annual Production (2-stream, Boe/day) 96,000 100,000 97,000 99,000 Oil Weighting (as a % of Production) 62.0% 63.0% 62.0% 63.0% Net Wells Turned-in-Line (TILs) Net Wells Spud 75.0-78.0 68.0-71.0(1) Total Budgeted Capital Expenditures ($MM) $764 - $800 LOE/Production Expenses (per Boe) $9.35 - $9.55 $9.35 - $9.55 Cash G&A (ex-transaction costs) (per Boe) $0.80 $0.85 $0.80 $0.85 Non-Cash G&A (per Boe) $0.20 -$0.25 $0.20 - $0.25 Production Taxes (as a % of Oil & Gas Sales) 8.0% - 9.0% 8.0% - 9.0% Oil Differential to NYMEX WTI (per Bbl) ($3.25 - $4.25) Gas Realization as a % of Henry Hub 85.0% -95.0% ($3.00 - $3.75) 95.0% 105.0% DD&A Rate per Boe $13.00 $13.80 $13.00 $13.80 Source: Company internal estimates and disclosures. Actual results may differ materially from projections. (1) These were internal estimates that were implied in prior guidance, but not explicitly stated. Investor Presentation November 2023 | 34 NOG

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