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W&T Offshore Inc
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January 2025 Investor Presentation
| Tracy W. Krohn | Page 3 of 11 |
January 17, 2026
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"January 2025 Investor Presentation"
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W&T OFFSHORE | NYSE:WTI PROVEN OPERATOR WITH OVER 40 YEARS OF GULF OF MEXICO (“GOM”) EXPERIENCE 3 1983 Tracy Krohn Founded W&T with $12 K 1985 Purchased first property for $500 K 1988 – 1993 Completed 14 acquisitions 1995 – 1996 Drilled over 30 wells on turnkey contracts for other companies 2000 Closed $26 MM acquisition from BP Amoco and $44 MM acquisition from EEX 2002 Drilled W&T’s 1 st operated deepwater well and closed $52 MM acquisition from Burlington Resources 2003 Closed $56 MM acquisition from ConocoPhillips 2005 Completed IPO and began trading on the NYSE 2006 Closed $1.3 B acquisition from Kerr- McGee and completed ~10 MM share follow-on offering 2007 Completed $450 MM debut senior notes offering 2008 Closed $119 MM acquisition from Apache 2010 Closed $121 MM acquisition from Total and $134 MM acquisition from Shell 2011 Closed $397 MM acquisition of Permian assets from Opal Resources and $51 MM GOM acquisition from Shell. Completed $600 MM senior notes offering and repurchased $450 MM of senior notes 2013 Closed $87 MM acquisition from Callon Petroleum. Completed divestitures of $30 MM 2014 Closed $65 MM acquisition from Woodside Energy and $24 MM acquisition from Shell 2015 Completed $376 MM Permian Basin divestiture. Completed $300 MM senior notes offering 2018 Formed Monza Energy as a Drilling JV program. Closed $31 MM acquisition from Cobalt Energy 2022 Completed $48 MM acquisition from Ankor E&P and KOA Energy 2023 Closed $32 MM acquisition from undisclosed seller 2024 Closed $77 MM acquisition from Cox 1983 2025 Acquisitions & Divestitures Legend Operational & Financing Milestones 2019 Closed $168 MM acquisition from Exxon and $20 MM acquisition from ConocoPhillips to acquire the Mobile Bay assets 2021 Transferred the Mobile Bay assets into a SPV in return for $215 MM term loan provided by Munich Re 2023 Repaid $552 MM outstanding 2L senior notes with cash on hand and by issuing new $275 MM 2L senior notes