Samson Resources II, LLCInvestor PresentationDecember 2018 II

Forward-Looking Statements and Risk FactorsThis presentation contains certain matters that may be considered “forward-looking” statements within the meaning of Section 27A of the Securities Actof 1933, as amended, Section 21E of the Securities Exchange Act of 1934, including statements regarding the intent, belief or current expectations andprojections of Samson Resources II, LLC (the “Company”) and its management. These statements can be identified by the use of forward-lookingterminology, including “plan”, “intend”, “will”, “expect”, “anticipate”, “project”, “should”, “could” or other similar words. You are cautioned that anysuch forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties many ofwhich are beyond the control of the Company, its subsidiaries, or its and their management, representatives and advisors, that could materially andadversely affect actual results. These include risks relating to our financial performance and results, our ability to improve our financial results andprofitability following emergence from bankruptcy, our ability to complete pending asset sales, availability of sufficient cash flow to execute ourbusiness plan, continued low or further declining commodity prices and demand for oil, natural gas and natural gas liquids, our ability to hedge futureproduction, our ability to replace reserves and efficiently develop current reserves, and the regulatory environment and other important factors thatcould cause actual results to differ materially from those anticipated or implied in the forward-looking statements and none of the Company, itssubsidiaries, or its and their representatives and advisors undertake any obligation to update any such statements.

Reserve EstimatesThe SEC permits oil and natural gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC’sdefinitions for such term. The Company may use terms in this presentation that the SEC’s guidelines strictly prohibit in SEC filings, such as “estimatedultimate recovery” or “EUR,” “resources,” “net resources,” “total resource potential” and similar terms to estimate oil and natural gas that mayultimately be recovered. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves as used in SECfilings and, accordingly, are subject to substantially greater uncertainty of being actually realized. These estimates have not been fully risked bymanagement. Actual quantities that may be ultimately recovered will likely differ substantially from these estimates. Factors affecting ultimaterecovery include the scope of the Company’s actual drilling program, which will be directly affected by the availability of capital, drilling and productioncosts, commodity prices, availability of drilling services and equipment, lease expirations, transportation constraints, regulatory approvals, field spacingrules, actual drilling results and recoveries of oil and natural gas in place, and other factors. These estimates may change significantly as thedevelopment of properties provides additional data. These estimates may not be reflective of the Company’s current view of reserves.

PV-10PV-10 represents the present value, discounted at 10% per year, of estimated future net cash flows. The Company’s calculation of PV-10 herein differsfrom the standardized measure of discounted future net cash flows determined in accordance with the rules and regulations of the SEC in that it iscalculated before income taxes, rather than after income taxes. The Company’s calculation of PV-10 should not be considered as an alternative to thestandardized measure of discounted future net cash flows determined in accordance with the rules and regulations of the SEC.

Disclaimer

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Samson Today

Samson is focused on delivering shareholder return with a balanced and lower risk growth strategy...........

(1) Flat Price Gas / Oil: $3.00 / $65.00(2) Q3 2018 SEC Pricing Natural Gas / Oil : $2.913 / $63.37. (3) Includes PDP, PDNP and SEC PUDs, plus PUDs developed within 5 years.

▪ Strategically Repositioned…

➢ Pure play Wyoming focused E&P Operator.

➢ Company has ~200,000 net acres in the Powder River Basin (PRB) and the Greater Green River (GGR) Basin of Wyoming.

• Total drilling inventory of ~2,620(1) gross development locations.

• ~6,450 Boe/d current production (75% liquids / 25% natural gas).

• Proved Reserves 09/30/2018 of ~74.8 MMBoe (using Q3 2018 SEC prices) and 3P Reserves of 962.0 MMBoe. (2)(3)

• Proved PV-10 of ~$392.5 MM. (2)(3)

• Debt-free with a strong Balance Sheet and liquidity position

• Actively drilling and developing its asset base in the PRB and GGR

Samson Today

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Current Liquidity Summary.Samson Resources II – 2017 was a busy year………

2018 Focus

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➢ Focused on oil production and reserve growth in the PRB and GGR in Wyoming.

▪ 2018 Capital program of ~$150 - $160 MM (includes ~$20 MM in acquisitions)

▪ Project drilling 17 – 20 gross operated wells in Wyoming in 2018

• Running 3 operated rigs in Wyoming

▪ Anticipate growing production from the current 6,450 Boe/d to between 10,000 –12,000 Boe/d in early 2019

▪ The capital program funded from operating cash flows, cash on–hand and non-core asset sales

➢ Focus on executing a delineation drilling program in both the PRB and GGR:▪ Delineate acreage for conventional and unconventional targets in the PRB▪ Establish low cost, efficient, repeatable and highly economic drilling program in the

GGR▪ Continue to monetize non-core assets to strengthen balance sheet.

• Sold ~$86 MM of non-core assets YTD

➢ Well hedged commodity exposure for Proved volumes at strong prices.▪ $57.19 (2018), $56.19 (2019), and $61.52 (2020)/ Bbl crude▪ $3.02 (2018) & $3.00 (2019) / Mcf natural gas

▪ Overview of RBL Credit Facility

• Scheduled redetermination on 10/05/2018 resulted in ~50% increase in borrowing base from $106.5 MM to $160.0 MM, of which $0 is currently drawn

• Facility matures on 11/01/2020

• No other debt

▪ Solid balance sheet and liquidity to drive strong returns from the drill bit

Samson Resources II – 2017 was a busy year……… Samson’s Liquidity

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11/30/2018

RBL Borrowing Base 160$

Less: RBL Balance -

RBL Availability 160$

Plus: Cash 61

Total Liquidity 221$

Liquidity Build-Up

(1) Oil hedges do not incorporate NGL volumes or pricing. (2) Hedged oil volumes for 2019 include swaps and costless collars, but the hedged oil pricing only reflects swap agreements.(3) BTU factor of 1.028 utilized in calculation of Natural Gas volumes and pricing.

Hedge Portfolio as of 11/30/2018

◼ 12/2018 Hedge Positions

─ Oil Volumes: 2.0 MBbl/d

─ Oil Weighted Avg. Price: $57.19

─ Gas Volumes: 8.9 MMcf/d

─ Gas Weighted Avg. Price: $3.02

─ NGL Volumes: 49.9 MGal/day

─ NGL Weighted Avg. Price: $0.58

─ Proved % Hedged: Oil (88%), Gas (74%), NGL (80%)

◼ FY 2019 Hedge Positions

─ Oil Volumes: 1.6 MBbl/d

─ Oil Weighted Avg. Price: $56.19

─ Gas Volumes: 10.3 MMcf/d

─ Gas Weighted Avg. Price: $3.00

─ NGL Volumes: 43.7 MGal/day

─ NGL Weighted Avg. Price: $0.59

─ Proved % Hedged: Oil (71%), Gas (41%), NGL (18%)

◼ FY 2020 Hedge Positions

─ Oil Volumes (Jan-Feb): 2.1 MBbl/d

─ Oil Weighted Avg. Price: $61.52

─ Gas Volumes: 0 MMcf/d

─ Gas Weighted Avg. Price: N/A

─ NGL Volumes: 0 MGal/day

─ NGL Weighted Avg. Price: N/A

─ Proved % Hedged: Oil (65%), Gas (0%), NGL (0%)

Oil Hedge Positions (1)(2)

Natural Gas Hedge Positions (3)

Natural Gas Liquids Hedge Positions

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2.0 1.6

2.1

$57.19 $56.19

$61.52

$55.00

$58.00

$61.00

$64.00

$67.00

-

0.5

1.0

1.5

2.0

2.5

2018 2019 2020

Pri

ce (

$/B

bl)

Vo

lum

e (

MB

bl/

d)

49.943.7

$0.58 $0.59

$0.50

$0.60

$0.70

$0.80

-

20.0

40.0

60.0

2018 2019 2020

Pri

ce (

$/G

al)

Vo

lum

e (

MG

al/d

)8.9

10.3

$3.02 $3.00

$2.50

$3.00

$3.50

-

3.0

6.0

9.0

12.0

2018 2019 2020

Pri

ce (

$/M

cf)

Vo

lum

e (

MM

cf/d

)

3Q 2018 Samson Reserves

8(1) Technical PUDs represent PUDs that are accounted for after the 5-year SEC rule.(2) SEC price for 9/30/2018 is $63.37 per Bbl and $2.913 per MMBtu.

Samson Proved Reserves PV10 Waterfall

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▪ Projected 2019 net CAPEX of approximately $240 - $260 MM for operated and non-operated drilling and completion activities

▪ Anticipate running 2 operated rigs by May 2019 in the PRB and 1 operated rig in the GGR by June 2019

▪ Average daily production rates increase 100% -150% over 2018

▪ Meaningful increase to EBITDA

▪ Maintain focus on capital discipline and a Leverage ratio < 1.5X

▪ Continue to look for strategic optionality with assets

2019 Preliminary View(1)

10II(1) Reflects management’s current expectations. The 2019 budget and business plan has not been finalized.

Asset Overview

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Powder River Basin

◼ Net Acres: ~150,000 (83% HBP)

◼ Current Prod: 3,500 Boe/d (94% liquids)

◼ Op Producing: ~120 gross

◼ Locations: 2,083(1) gross

◼ Current 2018 Drilling Program:

Average GWI 90%

Average NRI 74%

8/8th NRI 82% - 85%

◼ Economic stacked-pay oil resource with significant industry momentum applying modern completion and drilling designs.

II(1) Flat Price Gas / Oil: $3.00 / $65.00

▪ Spearhead Federal 11-2635-40-75SH well (Shannon Test) had first sales 10/27/2018• Outperforming initial

expectations

▪ Operating two rigs currently:• Rig 1 is drilling ahead on our

Allemand 2-well pad, Converse County, drilling in the Frontier and Niobrara formations.

• Rig 2 is drilling ahead on our Rufous Federal well, Johnson County, in the Mowry formation.

Powder River Basin Operated Drilling Program

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Powder River Activity – Unconventional Wells

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LS Energy Silva 34-712850’ Mowry/Muddy Vert Test

WOC

**Samson Res**Rufous Fed 44-0113 47-79MH

Mowry 2-Sect Hzl TestDrlg ahead

ATX Expl Grizzly Bear 36-2NHNiobrara 1-Sect Hzl, WOC

ATX EXPL 2-well padTatanka 16-2 MH

Mowry 1-Sect Hzl, WOCTatanka 16-4H

Niobrara 1-Sect Hzl, WOC

Titan Expl W.I. MooreNiobrara 2-Sect Hzl

Spud 10/2018, drlg aheadCONF WELL

EOG Tiburon 296-2436HMowry 2-Sect Hzl

EOG Flatbow 423-1720HMowry SH Hzl

IP 30 2,190 BOEPD [60% oil]

EOG Katara 602-0916HNiobrara 2-Sect Hzl

IP 30 1,150 BOEPD [55% oil]

EOG Ballista 204-1102HMowry SH Hzl

IP 30 2,500 BOEPD [60% oil]

DVN Conley Draw 09-043870-1XTHNiobrara 2-Sect Niobrara HzlIP 30 1,300 BOEPD [95% oil]

DVN SDU Tillard 17-203771-1XNHNiobrara 2-Sect test

IP 30 1,200 BOEPD [90% oil]

DVN PDU WJ Ranch Fed 22-153772-1XNHNiobrara 2-Sect Niobrara HzlIP 30 1,100 BOEPD [90% oil]

**Samson Res**Allemand Fed 31-1918 39-74H

2-Sect Niobrara HzlWOC

**Samson Res**Ogallala Fed 31-2116 40-75MH

Mowry 2-Sect HzlSpud: 12/2018

Peak PowderStoddard Fed 1-15NH

Niobrara 2-Sect Hzl

BalidorLost Springs 3567-29-32-2 NXH

Niobrara 2-Sect test, WOC

Renos L&MHornbeck Draw Un 36-74 34-1NH

Niobrara Hzl WOC

2018 Samson OperatedDrilling Focus Area

2018 Samson OperatedDrilling Focus Areas

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Powder River Activity – Conventional Wells

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SME Gneiss Fed 4075-27-34-1SHShannon SD Hzl

IP 30 1,600 BOEPD [92% oil]

SME Sawtooth Fed 3975-11-2-1SHShannon SD Hzl

IP 30 1,700 BOEPD [90% oil]

Impact State 15E-36-25-3775H Frontier Hzl

Drlg ahead

Wold State 3675-16-2-2FHFrontier

IP30 1,446 BOEPD [85% oil]

Wold Tuesday Draw 3874-26-23-14-3SHShannon SD Hzl

IP30 1,200 BOEPD [90% oil]Wold Tuesday Draw 3874-26-23-14-3FH

Frontier SD HzlIP30 4,535 BOEPD [60% oil]

EOG Catapult 364-1402HEOG Catapult 368 1402H2-well pad, Turner SD Hzl

Set Prod Csg, WOCSRC WI/NRI: 9.34%/7.62%

DVN RU State Fed 2X & 4XTurner SD Hzl

IP30- 1450 BOEPD/well 75% oilDVN 4-well Turner TestIP30- 1,500 BOEPD/well

*T-55 Fed 35-023872-1XTHIP30 1,625 BOEPD [65% oil]

EOG Catapult 297-1324HTurner Sd Hzl

IP30 1,325 BOEPD [85% oil]

AEC Remi State 3671-16-21-9FHTurner Sd Hzl

IP30 2,300 BOEPD [90% oil]

AEC Theo Fed 3571-17-5-1FHTurner Sd Hzl

IP30 2,400 BOEPD [85% oil]

CHK Turner Sd PlaySundquist IP30- 1,800 BOEPD

Lebar IP30- 2,400 BOEPD*recent Turner Sd down spacing test

3-well Linden Unit

**Samson Res**Allemand 31-1918 39-74FH

Frontier SD Hzl Spud 10-18Drlg ahead

2018 Samson OperatedDrilling Focus Area

**Samson Res**Spearhead Federal

Shannon SD HZLFlowing Back

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Samson Field Development Plan

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➢ Given stacked pay of the PRB, any DSU can have as few as 10 wells and as many as 26 wells off Multi-Well pads.

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Allemand Fed 2-Well Pad

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Unconventional

Conventional

South North

• Allemand Fed 31-1918-3974FH- Spud 09/09/2019- Drilling Lateral

• Allemand Fed 34-3031-3974NH- Spud 09/06/2019- TD 11/11/2019

At TD

68

2 Miles

Frontier

Niobrara

2 Miles

Surface Location

Deep Inventory Opportunity in the PRB

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➢ Samson’s 150,000 net acres are situated down the Powder River Basin’s geological axis and strategically located over the Shannon, Niobrara, Frontier / Turner, and Mowry formations.

−Overall, the Powder River Basin remains relatively underdeveloped horizontally, particularly in key Samson areas, but that is beginning to change with more rigs running across the basin and Samson’s acreage.

−Samson is aggressively pursuing State permitting activity to secure Operatorship, and focus will be on the Shannon, Niobrara, Frontier / Turner and Mowry formations.

− Initiated 2-rig operated drilling program in 2018 that targets the Shannon, Niobrara, Frontier and Mowry formations.

(1) Reflects current industry density assumptions. Further down-spacing expected in the future.(2) Samson’s inventory is designed around 2-section lateral length wells, approximately 10,000’.

2,083 1,722

Hummingbird Geologic

“Hotspot”

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Johnson County is very active….

Samson Rufous Fed 44-0113 47-79 MH Mowry 2-Sect Hzl Test Spud 11/02/2018, drilling ahead TVD: 12,150 ft

ATX- drilled Mowry/Niobrara stacked laterals following large acquisition; W.O.C.

ATX – drilled Niobrara test, currently completing

Recent vertical Mowry/Muddy science test well, W.O.C

Samson Leasehold

Leasing, permitting and drilling activity accelerating around Samson’s Federal Hummingbird Unit

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Powder River Basin Permit Activity

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(1) Adjusted permits through 09/18 to project to year end(2) Wyoming and PRB permits were filtered to permits drilled, waiting on approval and approved(3) Acreage sourced from Anschutz 2018 EnerCom presentation

Net Acres(3) by Operator Permits

1) 450,000 - Anadarko 3,154

2) 406,000 - Anschutz 1,542

3) 400,000 - EOG 4,925

4) 398,000 - Devon 1,340

5) 275,000 - Chesapeake 445

6) 150,000 - Samson 2,154

7) 148,000 - Wold 2,900

8) 115,000 - Ballard 327

9) 112,000 - Northwoods 299

10) 60,000 - Conoco 119

11) 58,000 - ATX 45

12) 52,000 - Impact 468

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

2015 2016 2017 TD 2018 2018 YE Adj(1)

US WY(2) PRB(2)

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◼ Net Acres: ~46,000 (58% HBP)

◼ Current Prod: 2,950 Boe/d (53% liquids)

◼ Op Producing: 38 gross

◼ Locations: 538 gross

◼ Current 2018 Drilling Program:

Average GWI 100%

Average NRI 83%

8/8th NRI 83% - 85%

◼ Highly consolidated liquids-rich gas play with strong recent results and economic inventory at current prices.

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Green River Basin

Milagro Federal Unit

(1) Flat Price Gas / Oil: $3.00 / $65.00

▪ Drilled 7 – well Endurance Pad. Completion activity of the 7 wells in December 2018.• Experiencing drill time improvements

with the use of Oil Based Mud and drilling last section of wellbore with Casing

– Last 4 wells drilled with OBM averaged $3.8 MM / well

• Focused on continuing to drive down cost structure of 2019

▪ Rig moved from the Section 32 NW Pad to drill 4 wells located in Section 08, Sweetwater County, WY• One well, the FTUN 1495-S17-03V well,

will be the Unit Obligation well for the Milagro Federal Unit

Greater Green RiverOperated Drilling Program

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Endurance 1595-S32 NW Pad Overview

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Samson Ownership

WI 100%NRI 83.1%

(83.1% net)

Estimated Total 7-Well Capital

Gross $30.07 MMNet $30.07 MM

Average CWC / Well

Drilling $2.46 MMComp/Fac $1.83 MMTotal $4.29 MM

Projected EUR from Pad Development

747 MBo24,893 MMcf

Drilled 7 vertical Fort Union wells from a common pad:

– To test 20-acre spacingassumptions

– 5 wells have come in under AFE and 2 wells over AFE

– Converted to oil based mud mid-program and have seen reduction in hole issues and time to TD

– Sales expected in 1Q’19

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▪ The Company is in the final stages of creating the Milagro Federal Unit• Unit should comprise

over 25,600 acres• Allows for orderly

development of the Fort Union formation and deeper formations

• Samson will be Operator of the Unit with over 95% WI

▪ Plan to drill the Unit Obligation well in late December 2018 to hold the Federal Unit

▪ STIP window commences on March 1, 2019 and will not reopen until July 2019

Milagro Federal Unit: Fort Union ProgramMilagro Federal Unit Development

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2017 Drill

2018 Drill

2019 Drill

Milagro Unit

Rig Location

▪ The primary benefits of forming a federal unit in the Green River Basin include:

➢ Establishes one Operator of the Federal Unit for both Drilling and Production activities

➢ Facilitates the exploration of a large area (~ 25,600 net acres) where common geological and reservoir characteristics exist.

➢ Consolidation of facilities, pipelines and access roads which helps minimize surface disturbances causing less environmental degradation and expense.

➢ Ability to operate a unitized area as a single lease which eliminates base boundaries such that production from any tract holds the entire unit.

➢ Unitization relieves the federal chargeability limitations. The federal rules otherwise prohibit a single entity from owning more than 246,080 federal acres in a single state.

Samson Resources II – 2017 was a busy year……… Benefits of Forming Milagro Federal Unit

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The Future…➢ Drilling program will continue to delineate Samson’s acreage position in the Powder and Green River Basins.

• Focused on maintaining a strong balance sheet while delivering production growth at top tier returns to investors.

• Building on momentum of drilling activity and successes around Samson’s acreage position.➢ Excellent asset base in the Powder River Basin and Green River Basin that will generate a premium valuation. ➢ Continue to evaluate strategic options to enhance shareholder value.

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