Sitio Royalties (STR) Investor Presentation summary

Value proposition and business model

• Focuses on a returns-driven acquisition strategy and active minerals management to enhance value.

• Maintains a strong capital structure with long-term financial stability and a robust return of capital program.

• Operates a large, diversified asset base with 269,676 net royalty acres, 74% in the Permian, and 38.6 MBoe/d production (50% oil).

• Achieves an 8.0% total yield based on annualized 3Q24 return of capital per share.

Operational and financial highlights

• 3Q24 average daily production reached 38.6 MBoe/d, with the production guidance midpoint raised by 1,000 Boe/d.

• Adjusted EBITDA for 3Q24 was $135 million, with a 91% margin and $110 million discretionary cash flow.

• Closed five acquisitions totaling $21.5 million, adding 2,325 NRAs in the DJ Basin.

• Reduced long-term debt by $56.5 million, increasing liquidity to $455.5 million.

• Returned $0.47 per share to shareholders through dividends and buybacks.

Acquisition and growth strategy

• Over 200 acquisitions since inception, with a disciplined, returns-driven, and relationship-based approach.

• 2024 YTD net royalty acres increased to 269,676, with 56% acquired using equity and 44% with cash.

• Focuses on basin and commodity agnostic deals, leveraging technical expertise and continuous innovation.