INVESTOR PRESENTATION | AUGUST 2 026 2 Investment Highlights A capital allocator partnering with proven operators to develop U.S. short-cycle oil and gas at >25% returns Operated Partnerships Non-Operated Underwritten at Strip, Through Cycles Short-cycle investments underwritten at strip to full- cycle IRRs with accelerated capital recovery Operated Partnerships: Control + Deal Flow Execution control, margin visibility, and captive Permian operated deal flow Scaled Platform with Proprietary Deal Flow Divers ...