Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Q1 2026 Earnings Presentation
25 slides from Gulfport Energy's earnings presentation, May 6, 2026
Slide 1: Investor Presentation May 2026
Investor Presentation May 2026
Slide 2: Forward Looking Statements & Non-GAAP Financial Measures
Forward Looking Statements & Non-GAAP Financial Measures This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act, Section 21E of the Exchange Act, and the Private Securities Litigation Reform Act of 1995, that are subject to risks and uncertain
Slide 3: Gulfport Energy Overview
Gulfport Energy Overview Key Highlights Utica and Marcellus NYSE: GPOR YE25 Net Reservoir Acres(6): ~262,000 Market Cap : (1) $3.5 Billion YE25 Proved Reserves: 3.3 Net Tcfe Enterprise Value (‘EV’)(2): $4.3 Billion 1Q26 Net Production: ~833 MMcfe/day EV / 2026 EBITDA : (2,7) 4.3x Liquidity : (3) ~$8
Slide 4: Focused Strategy and Compelling Valuation
Focused Strategy and Compelling Valuation High Quality Asset Base • Multi-basin portfolio provides diversification and capital allocation optionality • Capture value accretion through significant expansion of undeveloped inventory, driven by Natural Gas Weighted with targeted discretionary acreage a
Slide 5: Delivering Value For Shareholders
Delivering Value For Shareholders Equity Repurchase Program Equity Repurchases ~$407 million ~$1.1 billion • Consistent shareholder return framework and equity repurchase program Available under Repurchased as of authorizes purchases up to $1.5 billion authorization March 31, 2026, $1.5 Billion reti
Slide 6: 5-Year Adjusted Free Cash Flow Generation Potential
5-Year Adjusted Free Cash Flow Generation Potential 2026E – 2030E Cumulative Adjusted Free Cash Flow(1,2,3,6) as % of Market Cap(6) Key Highlights 100% >95% • Sustainable free cash generation underpinned by high-quality assets >85% >75% • Meaningful adjusted free cash flow profile expected to genera
Slide 7: First Quarter 2026 Results
First Quarter 2026 Results Full Year 2026E 1Q2026 Key Highlights Guidance Total 996.8 • Delivered total net production of 996.8 MMcfe per day, an increase of 7% 1.030 – 1.055 Bcfe/day over first quarter 2025 Net Production Mcfe/day • Incurred capital expenditures of $121.7 million, which includes $1
Slide 8: Achieving Significant Drilling Efficiencies Across All Asset Areas
Achieving Significant Drilling Efficiencies Across All Asset Areas Utica Marcellus SCOOP Improved top hole days by over 35% Improved average drilling efficiency Improved average drill days by over 25% Improved average drilling efficiency since 2023 while extending lateral lengths by over 50% since f
Slide 9: 2026 Capital Program and Production Outlook
2026 Capital Program and Production Outlook Capital Program Production • Reaffirm total operated D&C capital of $365 – $390 million • Forecast ~5% production increase in 4Q2026 versus 4Q2025 • Forecast investing $35 – $40 million on maintenance land and seismic • Expect full year total net daily equ
Slide 10: Significant Low Break-Even Inventory Expansion
Significant Low Break-Even Inventory Expansion Key Highlights >40% Increase in Gross Undeveloped Inventory Since 2022(1) • Since year-end 2022, Gulfport’s gross undeveloped inventory has Continuously adding high-quality inventory through increased by more than 40%, driven by targeted discretionary a
Slide 11: Inventory Expansion Adding High Quality Resource Depth
Inventory Expansion Adding High Quality Resource Depth Discretionary Acreage Acquisitions Marcellus Delineation Key Highlights Discretionary acreage acquisitions have Marcellus development and delineation added >4.5 years(2) since 2022, capturing significant value, within the wet gas and dry gas win
Slide 12: 2026 Development Plan Overview
2026 Development Plan Overview Utica Key Highlights 4-Well Pad 4-Well Pad Spud: 1Q2026 Spud: 1Q2026 TIL: 2Q2026 TIL: 3Q2026 • Extended Utica inventory by >5.5 years(1) since year-end 2022 • Discretionary acreage acquisitions have added >4.5 years(1), within the wet gas and dry gas windows of the pla
Slide 13: Advantaged Firm Portfolio Provides Access to Diverse Markets
Advantaged Firm Portfolio Provides Access to Diverse Markets • Diversified and right-sized takeaway capacity • 625,000 MMBtu/d(1,3) of firm takeaway from the Utica • 200,000 MMBtu/d(1) of firm takeaway from the SCOOP • Strategic connectivity to premium basin egress pipelines provides netback enhance
Slide 14: Strong Capital Structure and Financial Profile
Strong Capital Structure and Financial Profile First Quarter 2026 Overview As of March 31, 2026(1) • $2.9 million of cash equivalents $1,100 • ~$872 million of liquidity(1) No Maturities Elected Cash and Liquidity • Recent increase in elected commitments of $1,000 Until 2028 Commitment Under Credit
Slide 15: Environmental
Focused on Continuous Improvement and Responsible Stewardship • Achieved overall “A” rating for Appalachia assets from MiQ for For additional information Improved third consecutive year please refer to Gulfport’s Corporate Sustainability Report Methane Intensity Rate Environmental • Applied key lear
Slide 16: Appendix
Gulfport Appendix la
Slide 17: 2025 Proved Reserve Summary
2025 Proved Reserve Summary Net Reserves as of December 31, 2025(1) Gas Oil NGL Total (Bcf) (MMBbls) (MMBbls) (Bcfe) Proved Developed Producing 2,089 8 32 2,329 Proved Developed Non-Producing 68 0 1 75 Proved Undeveloped(2) 1,455 16 50 1,848 Total Proved Reserves 3,612 24 83 4,253 Proved Reserve Com
Slide 18: Reaffirm Full Year 2026 Guidance
Reaffirm Full Year 2026 Guidance FY 2026E FY 2026E Production Guidance Incurred Capital Expenditures – $ millions Guidance Net Daily Gas Equivalent – Bcfe/day 1.030 1.055 Operated D&C Capital Expenditures $365 $390 Net Daily Liquids Production – MBbls/day 18.0 21.0 Maintenance Land and Seismic $35 $
Slide 19: 2026 Development Plan Overview
2026 Development Plan Overview 2025 Operated Activity 2026E Operated Activity Average Net Lateral Length Well Count Lateral Well Count Lateral Drilled TILs Utica Dry Gas 16 gross (16.0 net) 14,000’ Utica Dry Gas 11 gross (10.7 net) 16,400’ 15,800 Utica Wet Gas 1 gross (1.0 net) 15,700’ Utica Wet Gas
Slide 20: Hedged Production
Hedged Production Natural Gas, Oil and Propane Hedge Summary(1) Natural Gas Oil Propane Swaps Collars Swaps Collars Swaps Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Price Volume Avg. Put Avg. Call Volume Avg. Price MMBtu/d $/MMBtu MMBtu/d $/MMBtu $/MMBtu Bbl/d $/Bbl Bbl/d $/Bbl $/Bbl Bb
Slide 21: Adjusted EBITDA
Adjusted EBITDA Adjusted EBITDA is a non-GAAP financial measure equal to net income (loss), the most directly comparable GAAP financial measure, plus interest expense, income tax expense (benefit), depreciation, depletion and amortization, impairment and accretion, net non-cash derivative loss (gain
Slide 22: Adjusted Free Cash Flow
Adjusted Free Cash Flow Adjusted free cash flow is a non-GAAP measure defined as adjusted EBITDA plus certain non-cash items that are included in net cash provided by (used in) operating activities but excluded from adjusted EBITDA less interest expense, current income tax expense (benefit), capital
Slide 23: Recurring General and Administrative (G&A) Expense
Recurring General and Administrative (G&A) Expense Recurring general and administrative expense is a non-GAAP financial measure equal to general and administrative expense (GAAP) plus capitalized general and administrative expense, less non-recurring general and administrative expenses comprised of
Slide 24: Present value of estimated future net revenue (PV-10)
Present value of estimated future net revenue (PV-10) PV – 10 is a non-GAAP measure derived from standardized measure of discounted future new cash flows (GAAP). Management uses PV-10, which is calculated without deducting estimated future income tax expenses, as a measure of the value of the Compan
Slide 25: Thank You.
Thank You. Investor Relations 405.252.4550 investor_relations@gulfportenergy.com www.gulfportenergy.com