University Lands FY23 Annual Report

FY 23 NET PERFORMANCE

$ 1.98B Gross Revenue

337 MMBOE Net Proved Reserves Net Total Resource 1.78 BBOE

$1.86B PUF Revenue (Minerals) $121M AUF Revenue (Surface)

Expenses $ 22.2M

27.1 MMBOE Net Royalty Production

1% of Gross Revenue $0.82 Expenses/BOE

262 Wells Put-on-Production Lateral Feet Put-on-Production 2.43MM

MMBOE - millions of barrels of oil equivalent; BBOE - billions of barrels of oil equivalent

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