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Dorchester Minerals
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May 2026 Investor Presentation
| William Casey McManemin | Page 10 of 11 |
September 01, 2026
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"May 2026 Investor Presentation"
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10 Total Production 2021 – 2025 NGL Production +182% 2021 – 2025 Oil Production +48% 2021 – 2025 Gas Production +42% Note: Production charts are limited to "in pay" volumes. Volumes attributable to the NPI are included regardless of surplus/deficit status and are burdened by lease operating costs and capital expenses. NGL production calculated as Oil equivalent at 0.40:1 ratio throughout presentation. 19% 9% 9% 7% 5% 51% Exxon Mobil Diamondback Chevron ConocoPhillips Apache Other Total Production by Basin (Boed) 0 2,000 4,000 6,000 8,000 10,000 12,000 2021 2022 2023 2024 2025 2026 Total Production by Product Total 2025 Production by Operator 100 1,000 10,000 100,000 2021 2022 2023 2024 2025 2026 Gas Rate (Mcfd) Oil Rate (Bopd) NGL Rate (Boed)