UNIT CORPORATION Investor Presentation

Appendix 1 Reconciliation of Net Income to Adjusted EBITDA 1Q23 2Q23 3Q23 4Q23 FY2023 (in thousands) Net income attributable to Unit Corporation $ 134,650 $ 28,017 $ 28,835 $ 57,437 $ 248,939 Add: (Gain)/loss on derivatives $ (13,595) $ (1,500) $ 3,239 $ (1,119) $ (12,975) Less: Cash payments on derivatives settled $ 2,601 $ (2,848) $ (4,806) $ (5,538) $ (10,591) Add: Depreciation, depletion, and amortization $ 3,891 $ 3,824 $ 4,778 $ 5,231 $ 17,724 Less: Gain on sale of Superior $ $ (17,812) $ $ $ (17,812) Less: Gain on disposition of assets $ (3,753) $ (5,676) $ (4,149) $ (36,372) $ (49,950) Add: Stock-based compensation expense $ 1,408 $ 1,008 $ 1,479 $ 3,652 $ 7,547 Add: ARO accretion expense $ 467 $ 478 $ 478 $ 457 $ 1,880 Add: Interest expense $ 39 $ 41 $ 41 $ 43 $ 164 Add: Income tax expense Add: Reorganization expense $ Adjusted EBITDA $ (74,646) $ 81 $ 51,143 $ 27,180 $ 722 $ 1,234 $ (45,510) 70 $ 12 $ 136 $ 299 32,782 $ 30,629 $ 25,161 $ 139,715 Unit believes Adjusted EBITDA provides information useful in assessing operating and financial performance across periods. Unit computes Adjusted EBITDA as net income attributable to Unit Corporation before non-cash valuation changes for commodity derivatives; depreciation, depletion and amortization; interest expense; income tax expense; reorganization expense; asset impairments, if any; asset disposition gains and losses; non-cash share-based compensation; accretion on asset retirement obligations; and other items not related to normal operations. Adjusted EBITDA as defined by Unit may not be comparable to similarly titled measures used by other companies. UNIT CORPORATION 19

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