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Empire Petroleum | Q1 2026 Results Presentation | Rick Golman | Page 3 of 11 | October 24, 2026

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3 Q1 2026 Operational and Financial Performance During Q1-2026, Empire focused on thermal recovery operations and infrastructure initiatives to enhance safety, reliability, and heat-utilization efficiency in the Starbuck Drilling Program ? The Company recently completed compressor relocation activities at a steam unit, improving operational safety and supporting more effective heat utilization ? Empire initiated a preventive chemical treatment program designed to mitigate scale formation and support sustained injection performance ? Subsequent to quarter-end, the Company received a Notice of Allowance from the U.S. Patent and Trademark Office related to its proprietary superheated steam generation and injection technology, supporting Empire’s ongoing thermal recovery initiatives and long-term development strategy in North Dakota, and enabling evaluation of broader applicability across its assets in the Williston Basin In Q1-2026, Empire continued advancement of its Texas natural gas development program, with activity focused on reactivation, recompletion, and related field work to restore baseline production and improve overall field deliverability ? Texas natural gas operations began contributing production during the quarter, with aggregate field volumes reflecting early output as wells returned to service ? To date, three wells were successfully reactivated, with five additional wells in progress, and early initial results increasing net volumes on the reactivated wells by approximately 45% compared to Q4-2025, reflecting growth from initial restart levels and volumes continuing to trend upward ? Field infrastructure was materially advanced ahead of volumes, including an increase of more than 500% in field compression capacity, removing prior constraints that prevented increases in production, and expanding operating capacity to approximately 3 million cubic feet per day (“MMcfd”) of currently available compression capacity, positioning the system to accommodate incremental production growth