Investor Presentaiton

Delaware & Utica Acquisitions - Expanding High-Quality, Price Resilient Inventory and Increasing Exposure to Appalachia DELAWARE LOCATOR MAP EDDY CULBERSON HIGHLIGHTS Bolt-on acquisitions of core non-op working interest properties in the Delaware Basin and the Ohio Utica Shale for a combined initial purchase price of $170 million and 107,657 shares of common stock GAINES Accretive to key 2024 financial metrics, attractive purchase price multiple of <3.0x Combined average 2024 production of ~6,500 Boe per day (26% oil, 2-stream) Expected 2024 cash flow from operations of $57.5 to $62.5 million OV LEGEND Acquisition Overlap New Acquisition NOG Acreage Q323 HZ Producers 2021 - Current NOG $33 $38 million of combined cap-ex in 2024 To be financed with cash on hand, operating free cash flow, and borrowings under revolving credit facility Continue to expect to achieve target leverage of ~1x in 2024 November 1, 2023 effective date for both. Delaware expected close Jan-2024, Utica expected close in 4Q-2023 • • DELAWARE ACQUISITION Significant Tier-1 inventory with sub-$45 per barrel breakevens and a strong free cash flow profile ~3,000 net acres in Lea & Eddy Counties, NM, 13.0 net producing wells, 1.0 net well in process and ~26.3 net undeveloped locations with 13.5 years of inventory at 2024 production sustaining capital levels Expect average 2024 production of ~2,500 Boe per day ramping to an average of >3,500 Boe per day in 2025 through the end of the decade Multi-operator acreage with Mewbourne Oil operating ~80% Highly complementary to NOG holdings in the basin, with existing ownership in >90% of the leasehold UTICA ACQUISITION Non-operated interests located in Point Pleasant zone in the Ohio Utica Shale Ascent Resources is operator of substantially all the assets 0.8 net producing wells and 1.7 net wells-in-process. Current production ~23 Mmcfe per day or ~3,800 Boe per day (~100% btu-rich gas) Expands exposure in Appalachia and further diversifies NOG's commodity mix at an attractive price point Investor Presentation November 2023 | 16 NOG

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