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Contango Oil & Gas | November 2020 Project Silvertip Aquisition | Allan D. Keel | Page 6 of 11 | December 20, 2025

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MCF History and Recent Highlights 6 Company History 1999 • Contango founded in 1999 2005 • Fayetteville Shale acquired for ~$10mm 2006 - 2010 • Offshore success of Eugene Island shallow water discovery including 10 wells that remain a major production source (53% of 4Q19A legacy MCF production excluding Will Energy and White Star) 2008 • Fayetteville Shale sold to Petrohawk and XTO for ~$300mm 2013 • Kenneth Peak medical leave of absence • Merger with Crimson Exploration 2016 • Acquired 5,000 net acres in Pecos County (“Bullseye”) and subsequently added an additional 1,700 net acres 2018 • John Goff and affiliates purchased 18.8% of MCF • Wilkie Colyer, Jr. named CEO • Completed $34.5m equity offering • Acquired “Northeast Bullseye” 2019 • Closed $56.4mm public equity offering and new, JPM-led RCF • Closed $22.1mm private placement equity offering • Closed acquisitions of Will Energy ($23.0mm) and White Star ($132.5mm) • Closed $53.4mm private placement equity offering • Entered joint development agreement with Juneau Oil & Gas, LLC (Iron Flea) ? Highly supportive, value-based equity ownership ? Management and directors committing time and capital to transforming business (high insider ownership) ? Simple capital structure (Revolving Credit Facility and Common Equity) ? Public currency that can be an advantage in potential transactions ? Low drilling requirements and lease expirations ? Low management salaries and G&A ? Proprietary relationships with lending banks and legal advisors that help Contango continue to evaluate potential opportunities ? Expect to maintain positive free cash flow for 2021 ? Management’s incentives are aligned with shareholders Contango Highlights 2020 • Announced management services agreement with MCEP • Announces merger with MCEP • Acquisition of Project Silvertip assets Note: Free cash flow is a non-GAAP measure which we define as cash flow from operations less capital expenditures..