Riley Exploration Permian, Inc.

SCHEDULE 14A INFORMATION

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934

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Riley Exploration Permian, Inc.

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MESSAGE FROM OUR CHAIRMAN

Date: April 10, 2026

Dear Fellow Stockholders:

On behalf of the Board of Directors of Riley Exploration Permian, Inc. (“Riley Permian,” “we,” or the “Company”), we are pleased to invite you to attend our 2026 Annual Meeting of Stockholders, which will be held on Tuesday, May 12, 2026, at 9:00 a.m. Central Time.

The accompanying Notice of Annual Meeting of Stockholders and Proxy Statement provide important information regarding the matters to be voted upon at the meeting. We encourage you to review these materials carefully before voting.

The 2026 Annual Meeting will be conducted through a virtual meeting platform, as described in the proxy materials. Your participation is important to us. Whether or not you plan to attend the meeting virtually, we encourage you to vote your shares as promptly as possible to ensure they are represented.

2025 was an important year for Riley Permian as we advanced several strategic priorities focused on expanding our asset base, readying infrastructure, improving financial flexibility, and positioning the Company for long-term value creation.

During the year, we expanded the depth and duration of our undeveloped inventory through the Silverback acquisition completed in July 2025, as well as through several smaller acquisitions and new leasehold. In total, we ended 2025 with nearly 50% more net undeveloped locations than at year-end 2024.

We also made substantial progress on our New Mexico gas midstream infrastructure project, which is intended to provide flow assurance and support the continued development of our New Mexico assets. In December 2025, we monetized our ownership interest in the project through a sale to our partner, a leading midstream service provider and Fortune 500 public company, generating a $72 million pre-tax gain.

The midstream transaction meaningfully strengthened our financial position. In December, we reduced outstanding debt by $120 million or approximately 32%. For the full year, shareholders’ equity increased by $5.46 per share or 22%. In addition, we increased our regular dividend by 5% and we authorized a share repurchase program of up to $100 million, providing an additional option in our capital allocation framework.

We believe these actions have positioned the Company with enhanced financial flexibility and a stronger foundation to support growth in 2026 and beyond.

Our Board of Directors and management team remain focused on building long-term shareholder value through the development of our high-quality assets, operational execution, and disciplined capital allocation.

We look forward to discussing these matters with you at our Annual Meeting. Thank you for your continued support of Riley Permian.

Sincerely,

Bobby D. Riley

Chairman of the Board of Directors and Chief Executive Officer

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD MAY 12, 2026

TO OUR STOCKHOLDERS:

Notice is hereby given that the 2026 annual meeting of stockholders (the “Annual Meeting”) of Riley Exploration Permian, Inc. (“Riley Permian” or the “Company”) has been called for and will be held in a virtual-only format via live webcast on Tuesday, May 12, 2026, at 9:00 a.m. Central Time. The manner for any stockholder wishing to participate in the virtual Annual Meeting is set out in detail in the proxy statement (“Proxy Statement”) accompanying this Notice.

The Annual Meeting is being held for these purposes:

Our Board has fixed the close of business on March 16, 2026 as the record date (the “Record Date”) for the determination of stockholders entitled to notice of and to vote during the Annual Meeting or any adjournment(s) or postponement(s) thereof. Only stockholders of record at the close of business on the Record Date are entitled to notice of and to vote during the Annual Meeting. A list of stockholders entitled to vote at the Annual Meeting will be available for examination at our offices for 10 calendar days prior to the Annual Meeting.

WHETHER OR NOT YOU EXPECT TO ATTEND THE LIVE WEBCAST OF THE ANNUAL MEETING, STOCKHOLDERS ARE ENCOURAGED TO VOTE AND SUBMIT THEIR PROXIES IN ADVANCE OF THE MEETING VIA THE INTERNET ATHTTP://WWW.CSTPROXYVOTE.COM USING INSTRUCTIONS ON THE PROXY CARD. YOU MAY ALSO VOTE BY COMPLETING, SIGNING AND RETURNING THE PROXY CARD BY MAIL.

Cautionary Note on Forward-Looking Statements: This Proxy Statement contains “forward-looking” statements regarding Riley Permian’s current expectations within the meaning of the applicable securities laws and regulations. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations. These risks and uncertainties include, but are not limited to, the risks detailed in Riley Permian’s filings with the Securities and Exchange Commission, including the “Risk Factors” section of Riley Permian’s Annual Report on Form 10-K for the year ended December 31, 2025. We assume no obligation to update any of these forward-looking statements.

Additional Materials: The Proxy Statement includes website addresses and references to additional materials found on those websites, including our Annual Report on Form 10-K for the year ended December 31, 2025. These websites and materials are not incorporated by reference herein.

This Notice of Annual Meeting and Proxy Statement along with the form of proxy card and the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 will be available online athttps://www.cstproxy.com/rileypermian/2026 on the first day these materials are mailed to stockholders which is anticipated to be on or about April 13, 2026.

As used in this Proxy Statement, unless otherwise noted or the context otherwise requires, we refer to Riley Exploration Permian, Inc., together with its consolidated subsidiaries, as “we,” “us,” “our,” “Riley Permian,” or the “Company”.

This Proxy Statement includes certain terms commonly used in the oil and natural gas industry, which are defined under the heading “Terms and Definitions” in our Annual Report accompanying this Proxy Statement.

RILEY EXPLORATION PERMIAN, INC. PROXY STATEMENT

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