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Gulfport Energy Corp
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February 2023 Investor Presentation
| Michael Moore | Page 3 of 11 |
December 14, 2025
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"February 2023 Investor Presentation"
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GPOR | 3 2023E Activity Gulfport Energy Overview 1. Market capitalization calculated as of 2/23/23 at a price of $66.53 per share using shares outstanding from the Company’s 4Q2022 10-K filing. 2. Enterprise value calculated as of 2/23/23 at a price of $66.53 per share using shares outstanding, long-term debt, preferred stock and cash and cash equivalents from the Company’s 4Q2022 financial statements. 3. As of 12/31/22 calculated as $7.3 million cash plus $441.8 million borrowing base availability, which takes into effect $145.0 million of borrowings on revolver and $113.2 million of letters of credit. 4. As of 12/31/22 using net debt to TTM Adjusted EBITDA. Net debt is a non-GAAP measure. It is defined as total long-term debt minus cash and cash equivalents. 5. Adjusted free cash flow and adjusted EBITDA are non-GAAP financial measures; see supplemental slides. Adjusted free cash flow yield is calculated using adjusted free cash flow based upon current forward pricing on February 13, 2023, and basis marks divided by current market capitalization on 2/23/23 using shares outstanding from the Company’s 4Q2022 10-K filing. 6. SCOOP acreage includes ~42,000 Woodford and 32,000 Springer net reservoir acres. Utica ~188,000 Net Acres 4Q22 Net Production: ~723 MMcfe/d YE22 Proved Reserves: 2.9 Net Tcfe SCOOP ~74,000 Net Reservoir Acres (6) 4Q22 Net Production: ~328 MMcfe/d YE22 Proved Reserves: 1.1 Net Tcfe Key Highlights NYSE: GPOR Market Cap (1) : $1.3 Billion Enterprise Value (‘EV’) (2) : $2.0 Billion EV / 2022 Adjusted EBITDA (5) : 2.6x Liquidity (3) : ~$450 Million Leverage (4) : 0.9x 2023 Total Capital: $425 - $475 Million 2023 Total Net Production: 1,000 – 1,040 MMcfepd ~90% Natural Gas 2023 Adjusted Free Cash Flow Yield (5) : ~20% Remaining Inventory: ~500 gross operated >10 years of inventory at attractive rates of return 75% 25% Utica / Marcellus SCOOP 70% 8% 10% 12% Utica Marcellus SCOOP Land 2023E Production Mix 2023E Capital Program