Investor Presentation June 2023

1) Q2'17 PRODUCTION CONTINUES TO RAMP... Material increases driven by organic growth accretive M&A A Differentiated E&P Growth Platform NOG continues to build scale as the largest dedicated public non-operated working interest company while efficiently leveraging G&A. 43.943.7 40.8 36.3 35.0 34.6 26.7 23.8 21.0 15.3 18.0 13.8 16.7 Q3'17 Q4'17 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2'19 Q3 '19 Q4 '19 Q1'20 | Production (MBoe/d) 29.1 35.38.4 87.4 78.9 79.1 72.7 71.3 64.2 57.6 54.6 Q2'20 Q3'20 Q4'20 Q1'21 Q2 '21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Adjusted Cash G&A is a non-GAAP financial measure. See Appendix for reconciliation to the most directly comparable GAAP Measure. $3.02 $2.71 Q2 '17 Q3 '17 Q4 '17 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1'20 Q2'20 I Cash G&A per BOE-Adjusted Investor Presentation June 2023 | 9 NOG Q3'20 Q4'20 Q1'21 Q2 '21 Q3 '21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 $1.58 $1.61 $1.45 $1.15 $1.39 $1.28 $1.13 $1.01 $1.20 $1.01 $1.06 $0.95 $1.01 $1.04 $0.93 $0.92 $0.91 $0.78 $0.94 $0.77 $0.86 $0.82 WHILE MAINTAINING LOW CASH G&A(1) Reducing overhead unit cash G&A costs, despite being acquisitive Q1'23

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