SANDRIDGE ENERGY INC

Recent Highlights

•On November 5, 2024, the Board of Directors declared a $0.11 per share cash dividend payable on November 29, 2024 to shareholders of record on November 15, 2024

•On August 30, 2024, the Company closed on its previously announced acquisition of certain producing oil and natural gas properties and interest in 11 drilling spacing units ("DSUs") in the Cherokee play of the Western Anadarko Basin

•Completions of the four drilled uncompleted ("DUC") wells associated with the Western Anadarko Basin transaction are underway with the first well generating an initial 30-day production rate of ~1,000 Boe per day (~70 % oil)

•Production in September, the first month reflecting contributions from recently-acquired assets(1), averaged ~19 MBoe/d (18% oil, 52% liquids), which is a 27% increase versus 2Q24

•Third quarter net income was $25.5 million, or $0.69 per basic share. Adjusted net income(2)was $7.1 million, or $0.19 per basic share

•Adjusted EBITDA(2) of $17.7 million for the three-month period ended September 30, 2024

•Adjusted G&A(2) of $1.6 million, or $1.02 per Boe for the three-month period ended September 30, 2024

•As of September 30, 2024, the Company had $94.1 million of cash and cash equivalents, including restricted cash

•Generated $34.4 million of free cash flow(2)for the nine-month period ended September 30, 2024. Free cash flow represents a conversion rate of approximately 76% relative to adjusted EBITDA for the nine months ended September 30, 2024.