Vitesse (VTS) investor relations material

Leadership and company overview

• New CEO and President appointed in May, bringing extensive industry and board experience.

• Company operates a differentiated E&P model with both operated and predominantly non-operated interests in over 7,800 wells across three basins.

• Focus on investing capital for accretive returns, converting investments to free cash flow, and returning capital to shareholders via a durable dividend.

• Diversification achieved through an average 3.5% working interest spread across wells.

Strategic model and capital allocation

• Four-part model: own, acquire, convert, and return, emphasizing diversification and capital flexibility.

• Production guidance for 2026 targets 16,750 BOE/day (61% oil) with a $1.75/share annualized dividend.

• Conservative hedging and leverage strategies ensure cash flow visibility and balance sheet flexibility.

• Capital allocation prioritizes the dividend, followed by disciplined reinvestment and debt reduction.

• Every reinvestment decision is screened for its support of the dividend and must meet strict return thresholds.

Growth, acquisitions, and operational discipline

• Growth is a core strategy but must create value and fit within established capital allocation principles.

• Over 175 acquisitions completed since 2013, totaling ~$800 million, with flexibility in deal size.

• Recent acquisition of Lucero in 2025 expanded operated position to 60 wells in the Williston Basin.

• Participation in wells is based on economic thresholds, with a 93% consent rate since 2023.

• No arbitrary production growth targets; leverage targeted at 1x or less, with flexibility for compelling deals.