Financial Data and Key Metrics Changes - The company reported a net income of $257 million and generated $205 million of adjusted EBITDA during Q2 2022 [21] - Free cash flow for the same period was $80 million, with a liquidity position of $469 million at the end of the quarter [6][24] - The leverage ratio was reported at a conservative 0.8x [6] Business Line Data and Key Metrics Changes - Production for the quarter was 960 million cubic feet equivalent per day, driven by the 2021 development program and strong performance from the SCOOP Nelda pad [6][8] - The company expects production to decline slightly in Q3 before significant growth in Q4, with a full-year production guidance range adjusted to 975 million to 1,000 million cubic feet equivalent per day [10][28] Market Data and Key Metrics Changes - The company is experiencing inflationary pressures, now expecting inflation to be up 20% to 25% for the year, an increase from previous estimates [15] - The company has layered on derivative contracts for 2024, including natural gas swap contracts and collar contracts [22] Company Strategy and Development Direction - The company is focused on cost-effective production and capital discipline, with a commitment to returning capital to shareholders through share repurchase programs [17][18] - Plans to implement a continuous rig program in the Utica and potentially in the SCOOP in 2023 to improve drilling efficiency [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating significant free cash flow in future quarters, allowing for continued capital returns to shareholders while maintaining a strong financial position [30] - The company is optimistic about production growth in 2023, expecting to exceed 5% growth over 2022 [10][28] Other Important Information - The Board approved an additional $100 million for the share repurchase program, bringing the total authorization to $300 million [7][26] - The company repurchased approximately 1.4 million common shares at an average price of $90.3 during Q2 2022 [25] Q&A Session Summary Question: Overall free cash flow strategy and shareholder returns - Management believes it can balance shareholder returns through buybacks while also pursuing growth opportunities [35] Question: Efficiency with the top-hole rig and regional capital allocation - The company plans to implement a top-hole rig to enhance drilling efficiency and maintain a continuous fracking program [36][37] Question: Future activity split between Utica and SCOOP - Management indicated that while the long-term split will remain, they are encouraged by results in the SCOOP and are evaluating how to maximize production there [39][40]

Investor Presentation May 2022 Forward Looking Statements & Non-GAAP Financial Measures This presentation includes "forward-looking statements" for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport's current expectations, manage ...

Financial Performance - Total revenues for the three months ended March 31, 2022, were $(307,816) thousand, compared to $247,358 thousand for the same period in 2021, reflecting a significant decrease[33]. - The net loss attributable to common stockholders for Q1 2022 was $(493,422) thousand, compared to a net income of $8,780 thousand in Q1 2021[33]. - The company reported a comprehensive loss of $(491,975) thousand for Q1 2022, compared to a comprehensive income of $11,350 thousand in Q1 2021[36]. - Net loss for the three months ended March 31, 2022, was $491,975, compared to a net income of $8,780 for the same period in 2021[42]. - Basic and diluted earnings per share (EPS) for the Successor Quarter was $(23.23), a significant decrease from $0.05 in the Predecessor Quarter[97]. Revenue and Sales - Natural gas sales increased to $405,212 thousand in Q1 2022 from $235,321 thousand in Q1 2021, representing a growth of approximately 72%[33]. - Total sales for natural gas reached $405,212, a 72% increase from $235,321 in the previous year[170]. - Oil and condensate sales increased by 66% to $30,239, driven by a 74% increase in realized prices[171]. - NGL sales surged by 90% to $45,284, supported by a 56% increase in realized prices and a 22% increase in sales volumes[172]. Assets and Liabilities - Total current assets as of March 31, 2022, were $272,315 thousand, slightly down from $273,551 thousand as of December 31, 2021[31]. - Total liabilities increased to $2,103,185 thousand as of March 31, 2022, from $1,560,858 thousand as of December 31, 2021, indicating a rise of approximately 34.8%[31]. - The company reported a total of $1,898,678 thousand in net property and equipment as of March 31, 2022, compared to $1,855,828 thousand at the end of 2021[31]. - The Company had total debt of $573,996 as of March 31, 2022, down from $712,946 as of December 31, 2021, indicating a reduction of 19.5%[60]. Cash Flow and Operating Activities - Net cash provided by operating activities increased to $253,696 for the Successor Quarter, up from $123,175 in the Predecessor Quarter, representing a growth of 105.6%[42]. - The company generated $253.7 million in net cash from operating activities for the Successor Quarter, compared to $123.2 million for the Predecessor Quarter, primarily due to increased realized commodity prices[203]. - The company incurred $139 million in net debt activity during the Successor Quarter, with $456 million in borrowings and $317 million in repayments on its Credit Facility[207]. Expenses - Operating expenses for Q1 2022 totaled $184,985 thousand, a decrease from $196,501 thousand in Q1 2021[33]. - Total lease operating expenses rose to $17,644, a 39% increase compared to $12,653 in Q1 2021[174]. - General and administrative expenses decreased by 44% to $7,105, down from $12,757 in the previous year[179]. - Interest expense increased to $13,984 in Q1 2022, compared to $3,261 in Q1 2021, due to changes in the debt structure[181]. Derivative Activities - The Company’s derivative activities allow for greater predictability in revenue, mitigating exposure to adverse market price changes for natural gas, oil, and NGL[215]. - The company utilizes various derivative instruments to mitigate exposure to adverse market changes in natural gas, oil, and NGL prices[199]. - The fair value of the company's derivative instruments is determined using established index prices, volatility curves, and option pricing models[220]. - The company cash-settles the difference with counterparties if the applicable monthly price indices are outside the ranges set by the floor and ceiling prices in its costless collars[221]. Stock and Dividends - The Company paid $1.5 million in cash dividends to holders of preferred stock during the Successor Quarter[84]. - The Company has repurchased 438,082 shares for approximately $35.5 million under the stock repurchase program, at a weighted average price of $81.06 per share[76]. - The Company approved an increase in the common stock repurchase program from $100 million to $200 million in April 2022[153]. Production and Operations - Total net production averaged approximately 1,008.1 MMcfe per day during the Successor Quarter, a 3% increase from 982.7 MMcfe per day in the Predecessor Quarter[163]. - Natural gas production volumes increased to 83,205 MMcf in Q1 2022, up from 81,832 MMcf in Q1 2021, representing a 2% increase[169]. - The company spud five gross (5.0 net) wells in the Utica during the Successor Quarter, with three gross (1.7 net) operated wells completed[164]. Environmental and Regulatory - The Company has implemented various policies to mitigate environmental risks and established reserves for probable environmental liabilities[106]. - The Company has potential liabilities exceeding approximately $64 million if it is not permitted to reject a firm transportation contract with Rover Pipeline LLC[102].

Financial Data and Key Metrics Changes - The company reported a net loss of $492 million for Q1 2022, primarily due to a $664 million unrealized loss from its commodity derivative portfolio [16] - Adjusted EBITDA for the quarter was $235 million, with net cash provided by operating activities totaling $254 million [17] - Free cash flow generated during the quarter was $117 million, with liquidity at $568 million at the end of the quarter [5][22] Business Line Data and Key Metrics Changes - The company achieved production of over 1 billion cubic feet equivalent of gas per day, driven by the outperformance of the 2021 development program and the addition of five new SCOOP wells [5][6] - Production is expected to decline in Q2 and Q3 before significant growth in Q4, with an overall year-on-year production growth expectation of more than 5% [6][12] Market Data and Key Metrics Changes - The company experienced inflationary pressures on capital costs, with expectations of inflation rising to 10% to 20% [10] - Operating costs increased slightly to $1.26 per Mcfe, attributed to higher production taxes and seasonal increases in LOE [11] Company Strategy and Development Direction - The company is focused on cost-effective production and capital discipline, with plans to return approximately 50% of expected free cash flow to shareholders through share repurchases [12][25] - There is an ongoing evaluation of opportunities to increase land positions in the Utica, which could lead to sustainable organic growth [7][35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of the asset base and the improved balance sheet, which supports a low reinvestment rate while returning capital to shareholders [28] - The company remains optimistic about achieving its production guidance despite the casing failure incident, which is viewed as a timing issue rather than a long-term operational risk [9][56] Other Important Information - The board approved an increase in the share repurchase program to $200 million, representing about 50% of expected free cash flow for 2022 [5][25] - The company has entered into commodity derivative contracts to hedge and lock in future cash flow generation [18][19] Q&A Session Summary Question: Asset allocation and capital efficiency - Management indicated that the program will continue to be balanced, with potential for a more continuous drilling program in the SCOOP [33] Question: Additional acreage acquisition - Management is considering acquiring additional acreage in the Utica, particularly in the wet gas window, to enhance economic outcomes [35] Question: Shareholder returns and dividends - Management is currently focused on share repurchases due to the stock's undervaluation, but all alternatives, including dividends, are being considered [38][39] Question: Casing failure in the Utica - Management explained that the casing failure was due to a seam issue in the pipe, and they are taking precautions to prevent recurrence by using seamless pipe in future wells [44] Question: Buyback pace and strategy - Management stated that the pace of buybacks will depend on share price and market conditions, with a commitment to continue repurchasing shares as long as they are undervalued [46] Question: Well completions delay in the Utica - Management clarified that delays were due to the casing issue, which required additional work before proceeding with completions [55]

Table of Contents Index to Financial Statements UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-19514 Gulfport Energy Corporation (Exact Name of Registrant As Specified in Its Charter) (State or Ot ...

Gulfport Energy Corporation (NYSE:GPOR) Q4 2021 Earnings Conference Call March 1, 2022 9:00 AM ET Company Participants Jessica Antle - Director of Investor Relations Timothy Cutt - Chairman and Chief Executive Officer William Buese - Executive Vice President and Chief Financial Officer Conference Call Participants Neal Dingmann - Truist Securities, Inc. Leo Mariani - KeyBanc Capital Markets Inc. Zachary Parham - JPMorgan Chase & Co. Operator Greetings. Welcome to the Gulfport's Fourth Quarter 2021 Conferenc ...

Investor Presentation Februar y 2022 Forward Looking Statements & Non-GAAP Financial Measures This presentation includes "forward-looking statements" for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport's current expectations, ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 For the transition period from to Commission File Number 001-19514 Gulfport Energy Corporation (Exact Name of Registrant As Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (IRS Employer Identification Number) 3001 Quail Springs Parkway Oklahoma City, Oklahoma 73134 (Address of Principal Executive Offices) (Zip Code) (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE ...

Gulfport Energy Corporation (NYSE:GPOR) Q3 2021 Earnings Conference Call November 3, 2021 9:00 AM ET Company Participants Tommy Renouard – Senior Analyst, Investor Relations Tim Cutt - Chief Executive Officer Bill Buese - Executive Vice President & Chief Financial Officer Conference Call Participants Neal Dingmann - Truist Zach Parham – JP Morgan Tarek Hamid - JPMorgan Steven Dechert - KeyBanc Operator Greetings. Welcome to the Gulfport Energy Corp Third Quarter 2021 Conference Call. At this time, all parti ...

Investor Presentation November 2021 Forward Looking Statements & Non-GAAP Financial Measures This presentation includes "forward-looking statements" for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements other than statements of historical fact. They include statements regarding Gulfport's current expectations, m ...