GULFPORT ENERGY CORP

16. SUBSEQUENT EVENTS

Natural Gas, Oil and NGL Derivative Instruments

Subsequent to June 30, 2025, as of July 30, 2025, the Company entered into the following derivative contracts:

One Big Beautiful Bill Act

On July 4, 2025, the President signed into law the legislation commonly referred to as the One Big Beautiful Bill Act (“OBBBA”), which introduces significant changes to U.S. federal tax law. Key provisions of the OBBBA that may be relevant to the Company include modifications to the limitations on the deductibility of interest expense under Section 163(j) of the Internal Revenue Code, changes to the treatment of research and development expenditures under Section 174A of the Internal Revenue Code and adjustments to bonus depreciation rules.

The Company is currently assessing the potential impact of the OBBBA. The effects of the legislation will be reflected in the Company’s financial statements in the period that includes the enactment date, which is the third quarter of 2025.

Expanded Common Stock Repurchase Program

On August 4, 2025, the Company's Board of Directors approved an increase to the authorized Repurchase Program from $1.0 billion to $1.5 billion (including the redemption of preferred stock noted below) and extended the authorization through December 31, 2026.

Redemption of Preferred Stock

On August 5, 2025, Gulfport issued a notice of redemption for its preferred stock for cash. The optional redemption will be effective on September 5, 2025 (the "Redemption Date") with respect to any shares of the preferred stock that have not been converted and remain outstanding at that date. Shares of preferred stock may be converted to common stock pursuant to their terms up to, but not including, the Redemption Date. The total cash amount payable by Gulfport in connection with the redemption will vary depending on the number of shares of preferred stock converted prior to the Redemption Date and the price of Gulfport's common stock.