Ring Energy (REI) Proxy Filing summary

Executive summary

• Achieved record daily sales in 2024, with 8% growth in total production and 6% growth in oil sales over 2023, reaching 19,648 Boe/d and 13,283 Bo/d, respectively.

• Reduced all-in cash operating costs per Boe by 2% year-over-year and generated $233.3 million in adjusted EBITDA despite a 7% drop in realized prices.

• Drilled 13 more wells than the prior year with slightly less capital, improving capital efficiency.

• Paid down $40 million in debt during 2024, ending the year with $385 million in debt and $217 million in liquidity.

• Grew proved reserves by 3% to 134.2 MMBoe with a PV-10 value of $1.5 billion at year-end 2024.

Voting matters and shareholder proposals

• Election of seven directors to serve until the 2026 annual meeting.

• Advisory vote to approve named executive officer compensation.

• Approval of an amendment to the 2021 Omnibus Incentive Plan to increase available shares by 11.5 million.

• Ratification of Grant Thornton LLP as independent registered public accounting firm for 2025.

• Board unanimously recommends voting FOR all proposals.

Board of directors and corporate governance

• Board consists of seven members, majority independent, with annual elections.

• Carla Tharp appointed to replace retiring director Regina Roesener effective April 14, 2025.

• Board committees (Audit, Compensation, NESG) are fully independent.

• Lead Independent Director role established, currently held by Anthony B. Petrelli.

• Annual board and committee evaluations, director orientation, and continuing education in place.