Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Investor Presentation (May 2021)
16 slides from Gulfport Energy's investor presentation, May 19, 2021
Slide 1: Investor Presentation May 2021
Gulfport a Investor Presentation May 2021
Slide 2: Forward Looking Statement
Forward Looking Statement “This presentation includes “forward-looking statements" for purposes ofthe safe harbor provisions ofthe Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21€ of the Securities Exchange ‘Act of 1934, Forward
Slide 3: The "New Gulfport"
Gulfport The “New Gulfport”
Slide 4: Core Characteristics
The “New Gulfport” | Core Characteristics New Balance Sheet, Management, Strategy and Culture in place to erm Value Creation from Our World-Class Asset Portfo Conservative Balance Sheet / Leverage ! Profile | | Quality Inventory of Peer Leading, Gas Weighted Assets Relentless Focus on Continuous Cos
Slide 5: Past, Present & Future
The “New Gulfport” | Past, Present & Future Past Net Funded Debe $2.1 billn Balance Net Leverage 3.9% Sheet Best) Moody's / S&P / Fitch Cal CCC. NR Gross MDQ® 1.5 MMDthid Maisstreans Annual FT Fees(®) $287.7 million Letters of Credit $220. million $824 millon Cost LOE per uniti67 $0.14/mefe Structur
Slide 6: Conservative Balance Sheet / Leverage
The “New Gulfport” | Conservative Balance Sheet / Leverage Overview Capital Structure At Emergence Liquidity At Emergence » Through chapter 11 proceeding, eliminated over RBL due 2024 $123 Borrowing Base ‘$580 $1.2 billion total debt Term Loan due 2024 180 Less: Drawn RBL (123) Subtotal Secured Debt
Slide 7: 'Right Sized' Midstream Structure
The “New Gulfport” | ‘Right Sized’ Midstream Structure Utica SCOOP \ ‘ ‘ + Reduced FT Volumes by ~400 Reservation Volumes() Reservation Volumes()®) MDthiday . B S63, » Reduced Annual Gross FT Fees by 1,125 ~$137MM. Pre-ling Post Emergence Pre-fling Post Emergence Annual Gross Fees®0) Annual Gross Fe
Slide 8: Perpetual Focus on Cost Reductions
The “New Gulfport” | Perpetual Focus on Cost Reductions Recurring Cash G&A Lease Operating Expense ee / a i Continued LOE i H Reduced G&A i >—~ | expenses allned with _—~. reductions erough | | current development i evelopment | optimization new | | pl | | field technologies | 2019 m0 mute 209 amo a
Slide 9: Optimizing Development & Returns
The “New Gulfport” | Optimizing Development & Returns Angelo Pad Angelo Pad Overview Currently drilling 6-well pad in the dry gas window of the Utica Highest cumulative lateral footage drilled off a pad to date ~ ~103,325 feet Leverage synergies of batch drilling on multi-well pad Executing first si
Slide 10: Proven, Results Driven Leadership
The “New Gulfport” | Proven, Results Driven Leadership = Joined in May 2021 New Senior Management | Proven Track Record of Cost Reductions Timothy J. Cutt feats * Chairman of the Board anesseakejiedg ° Over 38 years of energy experience QEP Annual G&A QEP LOE ($/Boe) © Former President, Chief Execut
Slide 11: Experienced, 'Hands On' BOD
The “New Gulfport” | Experienced, ‘Hands On’ BOD » 5new Directors appointed Tim Cutt Chairman and Interim Chief Executive Officer Lead, Independent Director Director David Reganato Director 38 years of energy experience Former President, CEO and Director at EF Resources. ; Former CEO and Director of
Slide 12: Emphasized Focus on ESG
The “New Gulfport” | Emphasized Focus on ESG * Produce ~1.0 Befe/d of clean burning natural gas * The safety of our employees, contractors and * Adopted Corporate Governance Guidelines and a (102021 production ~92% gas) communities is our highest priority Board Diversity Policy . * Gulfport is proud
Slide 13: Conservative Balance Sheet / Leverage Profile
The “New Gulfport” Conservative Balance Sheet / Leverage Profile Relentless Focus on Quality Inventory of Emergence leverage of 1.5x Peer Leading Continued Cost Improvement Gas Weighted Assets Target leverage of 1.0x Targeting ‘best in class’ cost metrics \ Specific continued focus on GP&T, LOE, G&A
Slide 14: Appendix
Gulfport Appendix
Slide 15: Appendix: Capital Structure at Emergence Detail
Appendix: Capital Structure at Emergence Detail Capital Structure At Emergence Market Details Amount Out. Rate Notes Ticker GPR RL due May, 2024 $123 LIBOR + 300-400 Exchange New York Stock Exchange $580mm Borrowing Base Term Loan due May, 2024 120 LIBOR + 450 Subtotal Secured Debt $303 Senior Notes
Slide 16: Thank You.
Thank You. @ Q 2 ® Investor Relations 405.252.4550 investor_relations@gulfportenergy.com www.gulfportenergy.com