Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Q4 2025 Earnings Presentation
26 slides from Gulfport Energy's earnings presentation, Feb 25, 2026
Slide 1: Investor Presentation
Investor Presentation Februar y 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): ~258,000 Market Cap(1): $3.7 Billion YE25 Proved Reserves: 3.3 Net Tcfe Enterprise Value (‘EV’)(2): $4.5 Billion 4Q25 Net Production: ~915 MMcfe/day EV / 2026 EBITDA(2,7): 4.8x Liquidity(3): ~$806 Mil
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 ~$580 million ~$920 million • Consistent shareholder return framework and equity repurchase program Available under Repurchased as of authorizes purchases up to $1.5 billion increased December 31, 2025, authorization 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% • Sustainable free cash generation underpinned by high-quality assets >90% >80% • Meaningful adjusted free cash flow profile expected to generate a
Slide 7: Fourth Quarter and Full Year 2025 Results
Fourth Quarter and Full Year 2025 Results 4Q2025 FY2025 Key Highlights Total 1.10 1.04 • Delivered total net production of 1.04 Bcfe per day Net Production Bcfe/day Bcfe/day • Produced total net liquids production of 18.7 MBbl per day, an increase of Total Liquids 18.2 18.7 approximately 29% over fu
Slide 8: 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 9: Inventory Expansion Adding High Quality Resource Depth
Inventory Expansion Adding High Quality Resource Depth Discretionary Acreage Acquisitions Marcellus Delineation Key Highlights Discretionary acreage acquisitions will have Marcellus development and delineation added >4.5 years(2,3) since 2022, capturing significant value, within the wet gas and dry
Slide 10: Full Year 2026 Guidance
Full Year 2026 Guidance Key Operational / Financial Highlights Key Highlights • Adjusted free cash flow expected to grow meaningfully, driven by disciplined, Total 1.030 – 1.055 Bcfe/day return-focused capital allocation that prioritizes highest-return development Net Production opportunities • Fore
Slide 11: 2026 Capital Program and Production Outlook
2026 Capital Program and Production Outlook Capital Program Production • Anticipate total operated D&C capital of $365 – $390 million, which • Forecast ~5% production increase in 4Q2026 versus 4Q2025 includes workover and incremental Marcellus capital compared in FY2025 • Expect full year total net
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(1,2) since year-end 2022 Marcellus • Discretionary acreage acquisitions will have added >4.5 years(1), within 2-Well Pad Spud: 3Q2025 t
Slide 13: 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’ 16,000 Utica Wet Gas 1 gross (1.0 net) 15,700’ Utica Wet Gas
Slide 14: Maintaining Best-in-Class Operational Efficiencies
Maintaining Best-in-Class Operational Efficiencies Ohio Drilling and Completion Efficiencies Average Total Footage per Day Average Frac Pumping Hours Improved drilling efficiency Improved completion efficiency by ~80% since 2022 and ~16% over FY2024 by ~26% since 2022 and maintaining top decile perf
Slide 15: 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 16: Strong Capital Structure and Financial Profile
Strong Capital Structure and Financial Profile Fourth Quarter 2025 Overview As of December 31, 2025 • $1.8 million of cash equivalents $1,000 Cash and Liquidity $1,000 No Maturities Elected • ~$806 million of liquidity(1) $900 Until 2028 Commitment Under Credit • $147 million borrowings under credit
Slide 17: 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 18: Appendix
Gulfport Appendix la
Slide 19: 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 20: Full Year 2026 Guidance
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 $40 % Gas
Slide 21: Hedged Production
Hedged Production Natural Gas, Oil and Propane Hedge Summary(1) Natural Gas Oil Propane Swaps Collars Collars Swaps Volume MMBtu/d Avg. Price $/MMBtu Volume MMBtu/d Avg. Put $/MMBtu Avg. Call $/MMBtu Volume Bbl/d Avg. Put $/Bbl Avg. Call $/Bbl Volume Bbl/d Avg. Price $/Bbl 1Q 2026 336,222 $3.81 170,
Slide 22: 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 23: 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 24: 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 25: 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 26: Thank You.
Thank You. Investor Relations 405.252.4550 investor_relations@gulfportenergy.com www.gulfportenergy.com