Investor Presentaiton

TEXAS EST. 1888 PACIFIC Summary of Highest-Visibility Inventory Land and Resource Management 100% NRI Permitted Wells ~78% of Permits are drilled within 6 months (1) ~89% of Permits are drilled within 12 months(1) 28% 3% 5% 100% NRI DUC Wells ~36% of DUCs are completed within 6 months (2) I ~91% of DUCs are completed within 12 months (2) 11% 7% 100% NRI Completed Wells ~98% of Completed Wells are listed as producing within ~1 month (3) 1% 4% 18% LAND CORT ExxonMobil S. Deogresources OXY NRI by Region NRI by Operator Source: Note: (1) (2) (3) (4) 8% 6% Permitted Wells: 5.0 6% 7% 7% 20% Permitted Wells: 5.0 73% 37% 33% 42% DUC Wells(4): 7.4 11% 3% 8% 15% 12% 7% 1% 1% Completed Wells: 2.3 11% 7% 7% 9% 5% 10% 30% DUC Wells(4): 7.4 30% Completed Wells: 2.3 59% 61% Highest-Visibility Inventory with Top Operators Validates TPL's Near-Term Production Outlook Company data and Enverus. Permian Basin horizontal locations as of 12/31/22. Permitted well conversion rate based on wells permitted from 1/1/21 through 12/31/21 and then drilled through 12/31/22. DUC well conversion rate based on wells drilled from 1/1/21 through 12/31/21 and then completed through 12/31/22. Completed well conversion rates based on wells completed between 1/1/21 and 12/31/21. DUCS considered to be all wells awaiting completion. ConocoPhillips devon Chevron COTERRA Other Northern Delaware Midland Southeast Delaware Southwest Delaware Other NYSE: TPL 21

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