Manag ageme ment Presen entati ation on Earnings Call 2Q20 This - PowerPoint PPT Presentation

NYSE American: GDP Manag ageme ment Presen entati ation on Earnings Call – 2Q20

This presentation has been prepared by Goodrich Petroleum Corporation (the “Company”) solely for information purposes and may include "forward-  looking statements" within the meaning of the U.S. Private Litigation Securities Reform Act of 1995. The Company, its respective employees, directors, officers or advisors, does not make any representation or warranty as to the accuracy or completeness of the information contained in the presentation materials. The Company shall have no liability for this presentation, information contained herein, or any representations (expressed or implied), whether the communications were oral or written. The statements, other than statements of historical facts, included in this presentation that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include, but are not limited to forward-looking statements about acquisitions, divestitures, trades, potential strategic alliances, the availability of capital, the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the Company's drilling program, production, hedging activities, capital expenditure levels and other guidance that may be included in this presentation. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to the Company's financial performance and results, availability of sufficient cash flow to execute its business plan, prices and demand for oil, natural gas and natural gas liquids, the ability to replace reserves and efficiently develop current reserves, the ability to access the capital markets and finance operations, including capital expenditures, and other important factors that could cause actual results to differ materially from those projected as described in this presentation and the Company's reports filed with the Securities and Exchange Commission. See "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases. Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or  update any forward-looking statement, whether as a result of new information, future events orotherwise. August, 2020 2

 Environmental: ~0 Total Gas Flared: (% of Production) ◦ 27 Total GHG Emissions: (2019) (000 Mt) (EPA,LDEQ,MDEQ,TECQ Compliant) ◦ Total Water Use (2019 - MMBls): 5.1 ◦ OSHA Compliant ◦  Social: 48 Number of Employees: ◦ Percentage of Employees Unionized: 0% ◦ Percentage of Women in the Workforce: 51% ◦ Percentage of Minorities in the Workforce: 20% ◦  Governance: Size of Board: 8 ◦ Independent Directors: 6 ◦ Percentage of Independent Directors: 75% ◦ Board Duration: 1 Year ◦ 10 Number of Board Meetings: ◦ Board Meeting Attendance: 100% ◦ August, 2020 3

HAYNE NESV SVILLE PURE PLAY OPPO PORT RTUNIT ITY 16+ Year Inventory of Core Locations (77% Operated)  Acreage is Held By Production and Fully De-Risked  >1.0 Tcf of Natural Gas Resource Potential in North  Louisiana HAYNESVILL ILLE E SHALE - CORE CORE HAYNESVILLE / BOSSIER SHALE STRONG RONG HAYN YNESV SVILL ILLE RESUL ULTS TS ANGELINA RIVER TREND (“ART”) Gross (Net) Acres (2Q2 Q20): 42,000 (24,000) Proved Reserves (YE19- SEC) 510Bcfe Gross (Net) Acres (4Q18): Objective ve: Haynes nesvi villeShale 7,000(3,000) Mississippi Proved Reserves (YE18 - SEC) Production: 138,000 Mcfe/day (2Q20) Objective: Haynesville & Bossier Shale  Low Finding/Development and Lifting Cost Generating Texas  Strong Rates of Return 2.5 Bcf Per 1,000 Feet of Lateral  Low LOE (<$0.05/Mcf) and No Sev Tax on New Wells  TUSCALOOSA MARINE SHALE: COMPAN ANY Y RETURN RNS S AND BALANC ANCESHEET Gross (Net) Acres (2Q20): 47,800(33,200) Proved Reserves (YE19 – SEC) 7Bcfe Objectives: Tuscaloosa Marine Shale 2Q20Adjusted EBITDA of $15.4 Million. EBITDAMargin  of Approximately 56%* Cash Opex: $1.01/Mcfe; Cash Opex Plus Cash Interest:  $1.09/Mcfe EAGLE E FORD SHALE: E: Low Leverage (Net Debt to EBITDA (TTM) – 1.45X) Net Acres(2Q2 Q20): 4,300  Prov oved ed Reserves ves(YE19 19 – SE SEC) 0 Objective ves: Eagle Ford Shale, Pearsall Shale & Buda Lime Low Multiple (EV/EBITDA ~2.9X) and Top TierCapital  Efficiency and Returns * EBITDA Margin defined as EBITDA divided by Revenues adjusted for settled derivatives 4 August, 2020

SEC Prov oved ed Rese eserv rves (Bc Bcfe fe) YE19 Prov oved Res eser erves by by Commod odity ty Natural ETX TMS NLA - Haynesville Total Gas – 511 600 (99%) 517 480 500 428 Oil - 6 (1%) 400 YE19 Prove oved d Res eser erves by Area ea (Bcfe fe,%) %) 303 HS – 511 300 (99%) 200 TMS-6 100 (1%) 55 YE19 Prov oved Res eser erves by Categ egory ory (Bcf cfe, e,%) %) 0 2015 2016 2017 2018* 2019 PUD-372 (72%) SEC PV10 0 of $297 Mil illion on PDP- 145 (28%) August, 2020 5

Capi pitali liza zatio ion $ $ in in millio ions 6/30 30/20 Cash and Cash Equivalents $1.6 Senior Credit Facility 95.4 2L Senior Secured Notes 13.9 Total Debt $109.3 $109. Total Stockholders' Equity 74.4 Total Book Capit pitali liza zatio ion $183.7 $183. Credit Statist istic ics TTM 6/30/20 Adjusted EBITDA $74.1 Net Debt / Adjusted TTM EBITDA 1.45X Net Debt to Total Capitalization 59% Borrowing Base $120.0 6 August, 2020

160,000 Mcfe/Day /Day 140,000 120,000 100,000 80,000 Mcfe/Day 60,000 40,000 20,000 - 2016 2017 2018 2019 2020* * Mid-Point of Guidance August, 2020 7

Natural Gas Volumes mes Swap Volumes mes Collar Volumes Peri riod od Swap Price Collar Prices (Mcf/d) d) (Mcf/d) d) (Mcf/d) d) 2Q20 70,000 47,000 23,000 $2.54 $2.40 - $2.62 3Q20 70,000 45,000 25,000 $2.56 $2.40 - $2.62 4Q20 70,000 45,000 25,000 $2.59 $2.40 - $2.62 1Q21 70,000 43,000 27,000 $2.64 $2.40 - $2.62 2Q21 70,000 70,000 0 $2.54 3Q21 70,000 70,000 0 $2.55 4Q21 70,000 70,000 0 $2.53 1Q22 70,000 70,000 0 $2.53 Oil Volume mes Swap Volumes mes Collar Volumes Peri riod od Swap Price (Bo/ Bo/d) d) (Bo/ Bo/d) d) (Boe Boe/d) d) 2Q20 225 225 0 $59.41 3Q20 210 210 0 $58.36 4Q20 200 200 0 $57.51 1Q21 200 200 0 $56.58 8 August, 2020

Volu lume mes and Cost Gui uidanc nce 2020E 2020E Devel evelopme opment nt Schedu chedule 2020E 2020E Product uction Activity Annual Net Production (Bcfe): 50 – 52 Gross (Net) Wells: 12 (5.0) Avg. Daily Production – Midpoint (MMcfe/d): 140 Avg. Net Lateral Length: ~8,500’ Percent Natural Gas: 99% Percentage Operated (Net): 72% Capi pital al Expe pend nditur ures (MM) Net Capi pital al Alloca cation Total Capital Expenditures $40 - $50 Bethany-Longstreet 91% Price Real alization Thorn Lake 9% Quarterl erly y Complet etion Cadenc dence Henry Hub Differential $0.15 – $0.25 1Q20 5 Gross (1.8 Net) Unit Cost (Per Mcfe) fe) 2Q20 1 Gross (0.8 Net) LOE: $0.20 - $0.25 3Q20 6 Gross (2.4 Net) Taxes: $0.04 – $0.07 4Q20 0 Gross (0.0 Net) Transportation: $0.30 - $0.40 G&A (Cash): $0.24 - $0.30 Total 12 12 Gross (5.0 Net) 9 August, 2020

Pay Zones GDP 24,000 ,000 Net Acres cres } 100 – 300 feet August, 2020 10

Haynesville - Core ▪ Total Gross/Net Acres: ~36,000/21,000 ▪ Average WI/NRI: ~59%/43% ▪ Acreage HBP: 100% ▪ 117 total producing wells (32 Operated) NORTH TH ▪ 1/1/20 – Inventory of 208 gross (91 LOUIS ISIA IANA CORE net) potential locations on 880’ AREA spacing providing 15+ year inventory 21,000 ,000 Net Ac Ac ▪ Operator for Approximately 73% of the NLA core position ▪ CHK Joint Venture on most ofthe remaining 27% of NLA Core Acreage ▪ Recent Acreage Swaps Adding to Operated and Long Lateral Acreage ▪ Continuing to Look ForBolt-On Opportunities TOTAL HAYNESV SVILL ILLE E Shelby Trough/Angelina River Trend SHALE (ART) ~24,00 000 0 net Ac Ac Haynesville and Bossier Shales: ▪ Total Gross/Net Acres: ~6,000/ 3,000 ▪ Average WI/NRI: ~40% / 30% ART 3,000 Net Ac Ac Rig Source: Ulterra Bits August, 2020 11

Haynes ynesville ville Comple pletio tion Evo volu lution tion Evolving completions maximize near-wellbore stimulation Original Design T ested Current Design • 4,600‘ Laterals • 10,000’ Laterals • 4,600 - 10,000’ Laterals • • 5,000+ lbs/ft Proppant • 3,000 – 4,000 lbs/ft Proppant 1,000 lbs/ft Proppant • • Slick Water & Hybrid Fluid • Hybrid Fluid Slick Water Fluid • 300- 450’ Frac Intervals • <100’ Frac Intervals • 100 - 150’ FracIntervals • Cluster Spacing 50- 70’ • Cluster Spacing 20 - 50’ • Cluster Spacing 20 - 30’ 12 August, 2020