Investor Presentaiton

Meaningful Cost Savings & Operational Synergies Tangible Synergy Realization Targeting ~$65mm of annual cost synergies across D&C capital, LOE and G&A Translates to over $450mm total present value over the next decade PR Combining Best Practices to Drive Cost Savings Implementing D&C design changes to reduce cycle times and well costs Applied shared best practices, including new bottom hole assembly (BHA) technology and optimized drilling parameters Ongoing high-grading of drilling fleet to high-spec rigs Leveraging complementary asset base to reduce LOE Expanded water recycling program to legacy Colgate acreage • • Extended existing electrical substation grids to offset assets Optimizing G&A to drive efficiency Definitive organizational structure in-place with majority of positions located in Midland, TX Expect significant reduction in cash G&A per BOE going forward 7

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