GULFPORT ENERGY CORP

The Compensation Committee believes that executive compensation should be designed to deliver competitive pay when performance targets are achieved, and when business results exceed targets, executives should share in those rewards based on their efforts. If the Company does not achieve established performance goals, the executive team should receive pay that reflects that lower achievement. We believe this pay-for-performance alignment is working as realized pay for 2024 was above target levels due to exceeding pre-set performance goals and strong shareholder returns. The Company delivered 2024 net production in line with initial expectations while executing at the low end of its initial capital expenditures expectations. The 2024 development program led to meaningful adjusted free cash flow generation, and after adjusting for cash flow utilized for attractive discretionary acreage acquisitions, Gulfport allocated approximately 96% of adjusted free cash flow to repurchasing our common stock during 2024. All of this was achieved while maintaining our strong balance sheet, ample liquidity and financial leverage below one times. The Company’s accomplishments were realized by the investment community and Gulfport’s common stock appreciated over 38% during 2024, outperforming the S&P 500 which appreciated by approximately 25% and Gulfport’s 2024 compensation peer group average appreciation of approximately 10%.

The majority of our current NEO’s total compensation is dependent on the successful achievement of Company results as measured by either short-term incentive plan metric achievement or achievement of performance measures and stock price appreciation of the Company’s common stock. The target total direct compensation of our NEOs is largely influenced by pay-at-risk or variable compensation, tying the pay of the executive to the Company’s performance and share price of the Company’s common stock. Short-term incentive plan targets for 2024 were exceeded, resulting in actual awards to executives that were higher than target amounts and demonstrating the alignment between performance and pay.