Investor Presentaiton

INCREMENTAL RESERVE UPSIDE POTENTIAL1 $MM Incremental Reserve Increase Possible PV-10 Probable PV-10 • • 1 Prob + Poss Related to PDP No additional capex required Achievable because of WTI's demonstrated understanding of the fields $8632 • 2 Prob + Poss Related to PDNP + PUD Contingent on execution of field development plans De minimis incremental direct capex required Immediately moves to PDP upside¹ following proved capex spend $2,2952 PV-10 $1,398 $897 • ° 3 Prob + Poss Unrelated to 1P Reserves Additional capex required Limited step-out risk $1,000² PV-10 $568 TOTAL High Upside Potential Compared to Capital Employed $4,1582 PV-10 $432 $2,378 PV-10 $412 $451 Capex: 1 $0³ 3 1) Based on year-end 2022 reserve report at SEC pricing (1P Life) of $94.14/Bbl and $6.36/MMBtu 2) Excludes Asset Retirement Obligation 2 $0 MM4 3) Probable and possible cases that are largely associated with producing wellbores and require no material future capex requirements 3 $449 MM 4) Probable and possible reserves with immaterial direct capex requirements that are largely associated with PDNP and PUD reserves and therefore have associated future indirect capex requirements $1,780 TOTAL $449 MM Focused on Realizing the Reserves Upside and Adding Economic Value Across 3 Categories 11 W&T OFFSHORE | NYSE:WTI W&T OFFSHORE

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