Ring Energy (REI) Roth conference 2025 presentation summary

Strategic growth and acquisitions

• Executed three acquisitions since 2019 and one pending, increasing net production by over 3.5x and expanding the asset base in the Permian Basin.

• Pending $100 million acquisition of Lime Rock Resources' assets in Andrews County, TX, adding ~2,300 Boe/d of low-decline, oil-weighted production and ~17,700 net acres contiguous to existing operations.

• Acquisitions have been funded through a mix of cash and stock, with disciplined M&A focused on balance sheet enhancement and minimal acreage cost.

• Pro forma 2025 guidance projects average daily production of 21,000 Boe/d, with 66% oil and 18% NGLs.

Operational and financial performance

• Achieved record 2024 net production of 19,648 Boe/d (66% oil), with sales volumes up 8% year-over-year and oil sales up 6%.

• Reported 2024 net income of $67.5 million ($0.34 per diluted share) and adjusted EBITDA of $233.3 million, despite a 7% drop in realized prices.

• Maintained flat capital spending at $151.9 million, improved capital efficiency, and delivered $43.6 million in adjusted free cash flow.

• Paid down $40 million in debt in 2024, exiting the year with $217 million in liquidity and a leverage ratio of 1.66x.

Asset quality and inventory

• Holds ~134.2 MMBoe of SEC proved reserves (as of YE 2024), with 69% proved developed and a PV-10 of ~$1.46 billion.

• Inventory includes 400+ drilling locations, with over 210 PUD locations and 220+ PDNP opportunities.

• Assets are characterized by shallow base decline, long-life wells (>35 years), high oil weighting, and low D&C costs.

• Recent well results demonstrate strong horizontal and vertical performance, with improved capital efficiency and reduced costs per lateral foot and frac stage.