Vitesse Energy Inc. · NYSE:VTS
Vitesse Energy — Q2 2026 Earnings Presentation
17 slides from Vitesse Energy's earnings presentation, Aug 4, 2026
Slide 1: Investor Presentation
AUGUST 2026 Investor Presentation NYSE: VTS
Slide 2: Disclaimer
Disclaimer Forward Looking Statements This presentation contains forward-looking statements regarding future events and future results that are subject to the safe harbors created under the Securities Act of 1933 and the Securities Exchange Act of 1934. All statements other than statements of histor
Slide 3: Why Vitesse?
Why Vitesse? Investment highlights Long-duration, high-quality asset base High dividend yield Substantial undeveloped resource that becomes more capital $1.75 annualized dividend(4) - 11% yield(1) - funded by significant free efficient over time cash flow Inflation-protected Data-driven returns abov
Slide 4: Vitesse at a Glance
Vitesse at a Glance A predominantly non-operated working and mineral interest owner that converts diversified interests into free cash flow - and a strong dividend THE MODEL SNAPSHOT OWN NYSE: VTS 11% Own interests in 7,868 productive wells (237.4 net) across 30+ operators - 3.6% average working int
Slide 5: Acreage in the Core of the Williston, DJ and Powder River Basins
Acreage in the Core of the Williston, DJ and Powder River Basins Exposure to leading operators across three basins ▪ Diversification across three basins, 30+ operators and 7,868 Williston Basin (ND & MT) Powder River Basin (WY) productive wells means no single well can make or break Vitesse’s result
Slide 6: The Non-Operated Advantage
The Non-Operated Advantage Fractional interests in wells drilled by leading operators - development-quality returns without an operator’s fixed cost structure WHAT WE OWN HOW WE INVEST WHAT NON-OPS DON’T CARRY Fractional, non-operated working interests in productive wells and Every well proposal and
Slide 7: Consistent Strategy with Disciplined Focus on the Dividend
Consistent Strategy with Disciplined Focus on the Dividend Unchanged priorities under new leadership “While we’ve received a number of questions about whether Vitesse’s strategy has changed, the answer is simple: it has not. We will continue to prioritize a durable fixed dividend, allocate capital o
Slide 8: Returns-Based Capital Allocation Framework
Returns-Based Capital Allocation Framework Dividend first, then allocating cash flow to the highest-return opportunities Dividend(1) 1 $0.4375 per Share Quarterly Cash Dividend Then allocate remaining free cash flow – ranked by rate of return 2 3 4 5 Organic Capex Near-Term Development Producing Pro
Slide 9: Returns-Based Capital Allocation Framework (continued)
Returns-Based Capital Allocation Framework (continued) Consistent dividend through commodity cycles; dividend declared every quarter since the spin-off 1 DIVIDEND PHILOSOPHY CUMULATIVE DIVIDENDS DECLARED PER SHARE · WTI AND HENRY HUB BY QUARTER $8.00 $92.86 $7.64 $100 Set dividend at level allowing
Slide 10: Returns-Based Capital Allocation Framework (continued)
Returns-Based Capital Allocation Framework (continued) How we invest 2 Organic Capex 3 Near-Term Development Acquisitions 4 Producing Property Acquisitions WHAT WE INVEST IN WHAT WE INVEST IN WHAT WE INVEST IN New wells drilled on acreage we already own Small interests in non-operated wellbores - AF
Slide 11: Returns-Based Capital Allocation Framework (continued)
Returns-Based Capital Allocation Framework (continued) Two instruments - a Revolving Credit Facility and common shares - with leverage(1) target below 1.0x CAPITAL STRUCTURE – REVOLVING CREDIT FACILITY AND COMMON SHARES, NOTHING ELSE 1.0x Leverage(1) - vs. ~1.4x peer median(4) (2) $117.4 MM Liquidit
Slide 12: Leveraged to Technology: Longer Laterals, Lower Cost
Leveraged to Technology: Longer Laterals, Lower Cost Longer laterals are improving capital efficiency in the Williston Basin; initial results indicate production over the life of the wells (EUR) scales on a per foot basis, while capex per foot declines as laterals lengthen LATERAL LENGTH AND PERCENT
Slide 13: Luminis Enables Us to Scale Assets Without Adding G&A
Luminis Enables Us to Scale Assets Without Adding G&A Luminis, our proprietary data platform, is the single source of truth for reporting, modeling and investment decisions - it keeps G&A largely LUMINIS fixed: adding wells adds cash flow, not headcount. DATA AI MODEL CHAT BOT A single source of tru
Slide 14: Appendix
Vitesse Appendix
Slide 15: Reconciliation of Net Debt and LTM Adjusted EBITDA (Non-GAAP)
Reconciliation of Net Debt and LTM Adjusted EBITDA (Non-GAAP) Trailing twelve months ended June 30, 2026 ($ in millions) Q3 2025 Q4 2025 Q1 2026 Q2 2026 LTM(1) Net debt ($ in millions) 6/30/26 Net income (loss) (1.3) (0.7) (42.3) 33.1 (11.2) Revolving Credit Facility borrowings 158.5 Interest expens
Slide 16: CROCI Reconciliation (Non-GAAP)
CROCI Reconciliation (Non-GAAP) Reconciliation of Cash Return on Capital Invested (CROCI) components to GAAP cash flow from operations ($ in millions) 2022 2023 2024 2025 Cash flow from operations 147.0 141.9 155.0 170.3 (+) After-tax interest expense 4.2 (2.5) 7.3 7.4 Gross cash flow 151.2 139.4 16
Slide 17: Hedge Position Summary
Hedge Position Summary Hedges scheduled to settle after June 30, 2026, as of July 30, 2026 Crude oil swaps (WTI-NYMEX) Crude oil collars (WTI-NYMEX) Natural gas basis swaps (Chicago City Gate to Henry Hub) Period Volume (Bbls) Avg. Fixed $ Period Volume (Bbls) Avg. Floor / Ceiling $ Period Volume (M