Investor Presentaiton

WHY WE HAVE LIKED THE GULF OF MEXICO FOR 40 YEARS GOM Provides Better Porosity and Permeability than the Unconventionals GOM Historical Sallo Oil Production1 US Oil Production by Key Region 1 MBbls/d Multiple stacked pay 2,500 opportunities • Offer attractive primary 5% 10% 10% production and' Zone 1 2,000 recompletion opportunities Zone 2 Provide multiple targets improving chance of success Zone 3 when drilling 1,500 Zone 4 Natural drive Zone 5 mechanisms generate 1,000 incremental production Zone 6 from 2P reserves 500 High quality sandstones have Zone 7 drive mechanisms superior to depletion drive alone Zone 8 Enjoy incremental reserve adds, partly due to how reserve quantities are booked or categorized under SEC guidelines 9 W&T OFFSHORE | NYSE:WTI 1989 1992 1995 GOM 2nd Highest Producing Basin in the U.S (~15% of total) 1) Based on U.S. Energy Information Administration (EIA) data as of December 2022 GOM Provides Unique Advantages: Low Decline Rates, Superior Porosity/Permeability and Significant Untapped Reserve Potential Permian ■GOM Anadarko Appalachia Bakken Eagle Ford Niobrara Rest of US W&T OFFSHORE 9% 1% 4% Total: 12.0 MMBbl/d 46% 15% 1998 2001 2004 2007 2010 2013 2016 2019 2022

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