Sitio Royalties : May Investor Presentation

Published: 2025-05-13 13:17:07 ET STR

Published on 05/13/2025 at 13:17

May 2025 Investor Presentation

Sitio's Value Proposition

› Returns-Driven Acquisition Strategy

› Active Asset Management Continually Enhances Business Model

› High Margins, Strong Capital Structure,

and Long-Term Financial Stability

› Robust Return of Capital Program

N E W M E X I C O

Delaware Basin

Midland Basin

T E X A S

Williston

DJ

Permian

74% Permian

Eagle Ford

STR share price as of 5/2/25; share count per 10-Q; debt and cash balances as of 3/31/25

See Appendix for non-GAAP reconciliations

Based on annualized 1Q25 return of capital per share of $0.50 (includes cash dividends and share repurchases) and STR closing share price as of 5/2/25. See Appendix for non-GAAP definitions 3

Assets Operated by Large, Well-Capitalized Producers with Durable Capital Budgets

Operator (Ticker)

% of 1Q25

Production

1Q25 Gross Wells TIL(1)

1

CVX

10.5%

230

2

XOM

9.8%

306

3

OXY

9.2%

185

4

Jonah Energy

8.8%

7

5

COP

7.3%

142

6

APA

5.7%

33

7

FANG

5.5%

224

8

PR

5.1%

31

9

DVN

4.1%

48

10

CIVI

3.9%

25

Total

70.0%

1,230

STR's top operators have become better capitalized, leading to increased

resiliency through commodity cycles

28%

8%

>$10B Mkt. Cap.

55%

13%

19%

3%

Note: Market data per FactSet as of 5/2/25. CVX pro forma for HES, Jonah Energy pro forma for Tap Rock

(1) 1Q25 Gross Wells TIL inclusive of wells on STR acreage only

4

Development Visibility through Net Line-of-Sight ("LOS") Well Pipeline

47.5 46.5 48.6

19.7

19.8

19.7

27.8

26.7

28.9

N E W M E X I C O

T E X A S

Permian Basin LOS Wells 12/31/24 Spuds 12/31/24 Permits

STR NRAs

STR AOI

2023

Qtr Avg.

2024

Qtr Avg.

1Q25

Net Spuds Net Permits Quarterly Average (1Q23 - 1Q25 )

Note: CVX pro forma for HES

5

Disclaimer

Sitio Royalties Corporation published this content on May 13, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on May 13, 2025 at 17:16 UTC.