Granite Ridge Investor Presentation Deck

● • Paid dividend of $15MM Initiated $50MM stock buyback in 4Q2022 and repurchased 868,726 shares ($6.3MM) in 3Q '23 ● ● ● Overview ● 3Q '23 Highlights $83MM of 3Q '23 Adjusted EBITDAX ¹ 20% production growth 3Q '23 over 3Q '22 3Q '23 - 77 gross (8.58 net) wells turned to sales • TTM - 322 gross (26.23) net wells turned to sales Assets Closed $8MM of Proved Property Acquisition and $12MM of Inventory Acquisition 2 and deployed $95MM of total capital Strategy & Execution Production Avg Daily Production (Boe/d) % Oil Gross / Net Wells Turned to Sales Cash Flow & Income ($MM) Total Revenue (Excl. Hedges) Adjusted EBITDAX ¹ D&C Capex 3Q2023 1. Non-GAAP financial measure, which is defined and reconciled in the Appendix. 2. Includes costs to acquire additional development opportunities and undeveloped acreage acquisitions. 3. Proforma for fall bank redetermination. 26,433 46% 77 / 8.58 Inventory Acquisition 2 Unit Costs ($/Boe) Lease Operating Expense Production & Ad Val Taxes Balance Sheet and Liquidity ($MM) as of 9/30/23 Cash & Cash Equivalents Total Debt Net Debt ¹ Liquidity 3 $108.4 $83.2 $75.7 $11.9 $6.96 $3.20 Appendix TTM 23,304 48% 322 / 26.23 $403.6 $306.8 $314.7 $37.3 $7.00 $3.49 $6 $85 $79 $161 GRANITE RIDGE 3

View entire presentation