Slide 1: Supplemental Presentation
Supplemental Presentation 2025 Pearce Hammond, Vice President IR Neel Panchal, Senior Director IR Shelby O’Connor, Manager IR (713) 571-4684, phammond@eogresources.com (713) 571-4884, npanchal@eogresources.com (713) 571-4560, soconnor@eogresources.com
Slide 2: Supplemental Presentation Updates
Supplemental Presentation Updates As of November 6, 2025 • Slide 6: Cash Return Summary Updated for 3Q 2025 Supplement - November 2025 2
Slide 3: Sustainable Value Creation Through Industry Cycles
Sustainable Value Creation Through Industry Cycles Capital Discipline • Returns-Focused Investments Guided by Bottom-Cycle Prices EOG is focused on being among the • Pristine Balance Sheet and Significant Free Cash Flow1,2 Generation • Sustainable, Growing Regular Dividend Anchors Commitment to Retu
Slide 4: Sustainable Value Creation Through Industry Cycles
Sustainable Value Creation Through Industry Cycles • Returns-Focused Investments Guided by Capital Discipline Bottom-Cycle Prices • Pristine Balance Sheet and Significant Free Cash Flow1,2 Generation • Sustainable, Growing Regular Dividend Operational Excellence Anchors Commitment to Return Minimum
Slide 5: EOG Strategy Delivers Peer Leading Return on Capital Employed
EOG Strategy Delivers Peer Leading Return on Capital Employed Return on Capital Employed1 EOG Peer Avg.2 36% 27% 28% 25% 23% 16% 14% 12% 2021 2022 2023 2024 (1) Return on Capital Employed calculated using non-GAAP adjusted Net Income. See (1) schedules posted to “Investors” section of EOG website fo
Slide 6: Cash Return Summary
Cash Return Summary 2021 2022 2023 2024 YTD 20253 Regular Dividends, $MM $937 $1,764 $1,925 $2,087 $1,611 Special Dividends, $MM $1,747 $3,384 $1,461 - - Share Repurchases1, MM - - 8.6 25.8 15.4 Share Repurchases1, $MM - - $971 $3,179 $1,828 Total Cash Returns, $MM $2,684 $5,148 $4,357 $5,266 $3,439
Slide 7: Delivered on 2024 Cash Flow Priorities
Delivered on 2024 Cash Flow Priorities $Billion $Billion $5.3 Bn or 98% of Annual FCF Returned to Shareholders CAPEX 3% Oil Growth $11.6 8% BOE Growth $5.4 Additional Cash Return 4% Share Count Reduction in ‘24 ($6.2) $3.2 $5.4 Regular Dividend Primary Mode of Cash Return $2.1 2 3 Adjusted1Cash Flow
Slide 8: Sustainable Value Creation Through Industry Cycles
Sustainable Value Creation Through Industry Cycles • Organic Exploration Maintains Low Cost, Capital Discipline High Quality, Multi-Basin Inventory • Superior In-House Technical Expertise, Proprietary Information Technology, and Self-Sourced Materials Support Well Performance & Cost Control Operatio
Slide 9: EOG Culture Delivers Sustainable Operational Efficiencies Across Multi-Basin Portfolio
EOG Culture Delivers Sustainable Operational Efficiencies Across Multi-Basin Portfolio Powder River Basin 5% 50%+ Drilled Ft/Day Completed Ft/Day Utica Play 50% 5% Drilled Ft/Day Completed Ft/Day EOG’s decentralized structure provides a broad footprint for learnings, innovation, Delaware Basin & tec
Slide 10: Strong Execution Delivers Outstanding 2024 Results
Strong Execution Delivers Outstanding 2024 Results Operational Excellence Increased By Reduced By Cash Reduced by Total Average Production 8% Well Costs 6% Operating Costs1,2 2% Outstanding Financial Metrics Cash Achieved Average Less Than Return on Delivered Recycle Ratio1 4.5x Payback Period 1 Yea
Slide 11: Lower Costs Drive Higher Margins
Lower Costs Drive Higher Margins 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Composite Avg. Revenue from Sales of Crude Oil $58.01 $30.66 $26.82 $35.58 $45.51 $38.79 $26.42 $50.84 $68.77 $48.34 $45.22 and Condensate, NGLs, and Natural Gas per Boe Operating Costs per Boe Lease & Well $6.53
Slide 12: EOG Marketing Strategy Provides Competitive Advantage
EOG Marketing Strategy Provides Competitive Advantage Diverse Markets Provide Price Advantage and Flow Assurance Clearbrook EOG Marketing Strategy NORTHEAST • Flexibility: Multiple Transportation Options in Each Basin • Diversification: Access to Multiple Markets to Maximize Margins MIDWEST ROCKIES
Slide 13: Peer Leading 2024 US Price Realizations
Peer Leading 2024 US Price Realizations1 $2.96/Bbl Higher than Peer Avg. $1.18/Mcf Higher than Peer Avg. $2.17/Bbl Higher than Peer Avg. $77.42 $74.46 $23.40 $21.23 $1.99 $0.81 Peer Average EOG Oil Peer Average EOG EOG Peer Average EOG NGL Oil Price Realization, $/Bbl Gas Price Realization, $/Mcf NG
Slide 14: Uniquely Positioned in US Oil Markets
Uniquely Positioned in US Oil Markets EOG Approach to Oil Markets US Oil Price Realization vs Peer Average2 $/Bbl • Export-Linked Capacity of 250,000 Barrels per Day $2.87 EOG Premium to Peers Peer Average • Low-Cost Pipeline Transportation and Tank Storage in Key Market Segments $2.97 $2.96 • Diver
Slide 15: Sustainable Value Creation Through Industry Cycles
Sustainable Value Creation Through Industry Cycles • Committed to Safe Operations, Leading Capital Discipline Environmental Performance, and Community Engagement • Strategic Emissions Reduction Pathways Operational Excellence Sustainability Culture Supplement - November 2025 15
Slide 16: New GHG Emissions Intensity Rate Target for 2030
New GHG Emissions Intensity Rate Target for 2030 Based on Updated EPA Reporting Requirements Near-Term Emissions Targets GHG Reduction Projects • Centralized Compression Reduce GHG Emissions Intensity Rate1,2 25% from 2019 By 2030 • Artificial Lift Automation and Optimization • Tank Vapor Capture •
Slide 17: New Methane Emissions Target for 2025-2030
New Methane Emissions Target for 2025-2030 Based on Updated EPA Reporting Requirements Methane Reduction Projects Near-Term Emissions Targets • Company-Wide Leak Detection and Repair (LDAR) Inspections Identifies Leaks and Minimizes Emissions Maintain Near-Zero Methane Emissions1,2 0.20% or less 202
Slide 18: Sustainable Value Creation Through Industry Cycles
Sustainable Value Creation Through Industry Cycles • Decentralized, Non-Bureaucratic Structure Enables Capital Discipline Value Creation in the Field, at the Asset Level • Collaborative, Multi-Disciplinary Teams Drive Innovation • Technology Leadership and Real-Time, Data-Driven Operational Excellen
Slide 19: Decentralization is Key to EOG's Culture and Differentiation
Decentralization is Key to EOG’s Culture and Differentiation Operational Benefits • Capital Allocation Flexibility • Broad Footprint for Innovation • Product & Geographic Diversity • Knowledge & Technology Transfer • Deep, Play-Specific Expertise • Scale to Self-Source Drilling Fluids and Sand Multi
Slide 20: Real-Time Data & Proprietary Applications Support EOG's Decentralized Model
Real-Time Data & Proprietary Applications Support EOG’s Decentralized Model Division Data Availability is Critical Offices for a Decentralized Business Accountability Infrastructure Technology Enables Data-Driven, Real-Time Decisions Security Across Decentralized Structure Back-Office Real-Time Oper
Slide 21: Proprietary Apps Support Innovative, Multi-Disciplinary Execution
Proprietary Apps Support Innovative, Multi-Disciplinary Execution GEOLOGY & RESERVOIR DRILLING COMPLETIONS FACILITIES & PRODUCTION Comprehensive Log and Map Real-Time Steering and Motor Data Real-Time Downhole Real-Time Facility and Artificial Lift Data Coupled with Proprietary to Stay In Zone, Mini
Slide 22: Owning Data from Creation to Delivery
Owning Data from Creation to Delivery Integrated Systems Supporting Real-Time Returns-Focused Decision Making Supplement - November 2025 22
Slide 23: Play Details
Play Details Supplement - November 2025 23
Slide 24: EOG's Multi-Basin Portfolio
EOG’s Multi-Basin Portfolio Rocky Mountain Williston Basin Powder River Basin Wyoming DJ Basin Appalachian Basin Utica Delaware Basin Trinidad & Tobago South Texas Columbus Eagle Ford Basin Dorado Supplement - November 2025 24
Slide 25: Delaware Basin
Delaware Basin Brushy Highlights Canyon • Maximized Value Creation Through Stacked Pay Co-Development Leonard • Increased Drilled Feet per Day by ~10% in 2024 Through Increased Bottom Hole Lea Shale Assembly Performance Attributed to EOG Motor Program Eddy • Increased Completed Lateral Feet per Day
Slide 26: South Texas Eagle Ford
South Texas Eagle Ford Highlights • 30K Net Acre Bolt-On Acquisition in Atascosa County Completed in 2Q 2025 • Increased Drilled Feet per Day by ~15% in 2024 as a Result of Improved Bottom Hole Assembly Efficiencies Gonzales • Increased Completed Lateral Feet per Day by ~20% in 2024 by Applying Supe
Slide 27: Utica Play
Utica Play Highlights EOG Acreage • Closed Encino Acquisition Partners Acquisition on August 1, 2025 Encino Acreage • 1.1 MM Net Acres with 2.0+ Bn Boe of Undeveloped Net Resource1 Overlapping Acreage • 90%+ of Acreage Held by Production with Minimal Drilling Commitments • 100% Minerals Ownership Ac
Slide 28: Powder River Basin
Powder River Basin Parkman Highlights Northern PRB Oil • Maximized Value Creation Through Development of Stacked Mowry, Turner, ~110K Net Acres Niobrara, and Parkman Reservoirs Shannon • Increased Niobrara Well Productivity by 20%+ in 2024 • Reduced Niobrara Days to Drill by ~10% in 2024 as a Result
Slide 29: Dorado
Dorado Highlights • Increased Drilled Feet per Day by ~15% in 2024 Through Increased Bottom Hole Dimmit Assembly Performance Attributed to EOG Motor Program La Salle • Increased Completed Lateral Feet Per Day by ~15% in 2024 by Applying Super Zipper Completion Method and Continuous Pumping Operation
Slide 30: Trinidad & Tobago
Trinidad & Tobago Overview NCMA 4(a) Block Tobago • 30+ Years Operating in Country • Shallow Water Development Expertise Coupled with Low-Cost Structure Supports Runway for Additional Future Opportunities • Highly Competitive with US Onshore Portfolio Sercan Area • Gas Sold Into Domestic Market Modi
Slide 31: Supplement - November 2025
Copyright; Assumption of Risk: Copyright 2025. This presentation and the contents of this presentation have been copyrighted by EOG Resources, Inc. (EOG). All rights reserved. Copying of this presentation is forbidden without the prior written consent of EOG. Information in this presentation is prov