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Investor Presentaiton

Q2 2023 Cap Ex by Basin Capital expenditures were weighted toward the Permian Basin in Q2. 56% 3% • 39% Region(1) Williston Permian Marcellus 1) Total Capital Expenditures excluding the 1% contribution from 'other items'. • TILS +37% v Q2 22, while D&C list sits +19% vs Q2 22 and has held at an elevated average level of completion ⚫ TIL activity expected to ramp materially in Q3 and remain elevated in Q4 • Low Marcellus cap ex in 2023, in-process activity planned for 2024 turn-in-lines • Inflation appears to have moderated, recent trends show modest reductions in costs • Q2 workover activity elevated vs historical levels and accounted for ~7% of D&C capital as operators were opportunistic during lower crude price windows Investor Presentation September 2023 | 34 NOG
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