NOG Investor Presentation November 2023

NOG is a national non-operating franchise offering scale and diversification across three core U.S. energy basins. The company demonstrates a track record of executing accretive investments exceeding $3.2B since 2018 and anticipates accelerated free cash flow into 2024. With a strong balance sheet targeting net debt below 1.0x adjusted EBITDA, NOG employs disciplined capital allocation and maintains dominant technical advantages.