SandRidge Energy (SD) investor relations material

Executive summary

• Achieved strong year-over-year growth in production and revenue, driven by operated development, higher commodity prices, and new wells.

• Announced and expects to close a $65 million Cherokee Play acquisition in Q3 2026, expanding the asset base by ~7,000 net acres and interests in 21 wells, funded with cash on hand.

• Maintained a robust balance sheet with $114.7 million in cash and no debt as of June 30, 2026, supporting capital returns and operational flexibility.

• Continued focus on safety, cost discipline, and operational efficiency, with over 4.5 years without a recordable safety incident.

• Declared a $0.13 per share dividend payable August 31, 2026, with a Dividend Reinvestment Plan option.

Financial highlights

• Q2 2026 revenues were $51.1 million, up 48% year-over-year; six-month revenues reached $100.9 million.

• Adjusted EBITDA for Q2 2026 was $34 million, a 49% increase year-over-year.

• Net income for Q2 2026 was $26.7 million ($0.72/share); adjusted net income was $21 million ($0.57/share).

• Cash flow from operations for H1 2026 was $62.2 million, up from $43.2 million year-over-year.

• Paid $14.5 million in dividends in H1 2026; total dividends since 2023 now $184.2 million.

Outlook and guidance

• Plans to fund all 2026 capital expenditures and capital returns from operating cash flow; no debt financing planned.

• Production is hedged with swaps and collars covering just under 30% of 2026 guidance midpoint.

• 2026 capital program to spend $76–$97 million, including $62–$80 million for drilling/completion and $14–$17 million for workovers, optimization, and leasing.

• Will drill 10 operated Cherokee wells and complete nine in 2026, with one completion carrying over.

• Focus remains on one-rig Cherokee development, evaluating accretive M&A, and optimizing production through artificial lift upgrades.