Sable Offshore (SOC) Registration Filing summary

Company overview and business model

• Operates offshore oil and gas assets, including three platforms and an onshore processing facility in California, acquired from Exxon and Mobil Pacific Pipeline Company in February 2024.

• Holds 16 federal leases across 76,000 acres, with 100% working interest and an average 83.6% net revenue interest.

• Focuses on restoring production at the Santa Ynez Unit (SYU) and associated pipelines, with restart activities underway in 2025.

• Owns significant infrastructure: oil treating, water treating, gas processing, power generation, storage, and transportation assets.

• Listed on NYSE under the symbol "SOC" since February 2024.

Financial performance and metrics

• Qualifies as an emerging growth company with less than $1.235 billion in revenue for the last fiscal year.

• Financial statements for 2024 audited by Ham, Langston & Brezina, L.L.P., with an unqualified opinion and a going concern explanatory paragraph.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used as set forth in the applicable prospectus supplement for each offering.