HighPeak Energy Investor Presentation January 2023 1
HighPeak Overview Northern Midland Basin Pure-Play Capitalized For Profitable Oil-Weighted Value Creation Key Highlights Activity Increasing Near HighPeaks Position 110,000 net acres (60k Flat Top, 50k Signal Peak)(1) 56%…
Differentiated Growth Story Now Shifting to FCF Harvest Value Creation Over Time Exit Rate Production (Boe/d) HighPeak grew production organically by 20,000 boepd in 2022, LQA Adj. EBITDAX(1) independent of acquisitions. This…
HighPeak Has Peer Leading Margins High oil cut, low-cost structure, and continued scaling of production lead to HPKs peer leading margins Q3 margins are 16% above nearest peer with continued expansion expected as production scales…
Q3 2022 Costs Per BOE Total Cash Costs for the 3 months Ended 9/30/22 (/Boe)(1) Factors leading to decrease in LOE: 13.30 Cash G&A Expenses 10.83 Continued generator removal Production and 4.36 Ad Valorem Taxes Dilution of…
ESG Designed with the Environment in Mind Power Facilities Fluid Sand Efficient Quality Recycling Environmental Removal of Generators, run First class, newly built Can supply 100% of the Local sand mine rigs on electric power…
HighPeak Exhibiting Leading Results in Howard and South Borden Counties Oil EUR Distributions per Enverus Relative to HPK Results East Howard & South Borden Oil EUR Distribution Delineation and Laterals to Date 1,250 Flat…
Enhancing Well Results Across Multiple Benches Continue to demonstrate consistent well results as we have expanded Improving Well Performance Year Over Year development across the acreage position and formations 150,000 2020 2021…
HighPeaks Position Poised For Optimal Development Optimal Acreage To Maximize Deep Inventory Development HighPeak Poised for Optimal Development on Proven Inventory 88% of HPK acreage has 6 or less wells/DSU making it one of the…
Substantial Inventory(1) Results Driven By Excellent Reservoir Performance Across Multiple Targets Remaining Inventory (Gross Locations) 2,500 Total Gross Locations Flat Top Signal Peak Total Primary Upside Primary Upside…
HighPeak Inventory Analysis Flat WTI/HH 90/4 Remaining Locations Net Remaining Resource (Mmboe) 1,300 primary locations with an 879 Mmboe net undeveloped average 95% IRR resource, 73% oil and 89% liquids with additional…
Well Capitalized and Entering Projected FCF Growth Mode No External Capital Expected to be Required to Meet Growth Plan(1) Q322 Highlights(2) FCF Inflection Point in 2023 Entering FCF Growth Mode Thereafter(5) ( in millions) RBL…
Reasons We Believe HighPeak is Currently Undervalued 110,000 net acres in two highly contiguous blocks in the Midland Basin(1) 2,500 total gross locations with an average primary portfolio return of 95%(2) Primary delineated…
HIGHPEAK ENERGY, INC. Appendix 16
2023 and 2024 Development Outlook Production (Mboe/d) 2023 2024 Average production rate 47-53 70-76 Exit production rate 58-66 72-80 Capex (mm) 2023 2024 Gross Operated Wells TIL 135-145 105-110 Capital Expenditures D,C,E&F 1,100 -…
Non-GAAP Reconciliation Reconciliation of Net Income to EBITDAX Unhedged Cash Operating Margin Reconciliation Qtr. Qtr. Qtr. Qtr. Qtr. (in thousands) (in thousands) Ended Ended Ended Ended Ended 31-Dec-21 30-Mar-22 30-June-22…
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