Company: REI
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017570
Chunk: 100

Company: RING ENERGY, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 100
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,099 |
| Adjusted EBITDA                                                            |     | $                   |     |  233,320,741 | $                 |     |  235,982,139 |
| Net interest expense (excluding amortization of deferred financing costs)  |     |                     |     |  -37,850,690 |                   |     |  -38,748,863 |
| Capital expenditures                                                       |     |                     |     | -151,946,171 |                   |     | -151,969,735 |
| Proceeds from divestiture of equipment for oil and natural gas properties  |     |                     |     |      121,232 |                   |     |       54,558 |
| Adjusted Free Cash Flow                                                    |     | $                   |     |   43,645,112 | $                 |     |   45,318,099 |

The Company defines “Adjusted Cash Flow from Operations” or “ACFFO” as Net Cash Provided by Operating Activities, reflected in our Statements of Cash Flows, less the changes in operating assets and liabilities, which includes accounts receivable, inventory, prepaid expenses and other assets, accounts payable, and settlement of asset retirement obligations, which are subject to variation due to the nature of the Company’s operations. Accordingly, the Company believes this non-GAAP measure is useful to investors because it is used often in its industry and allows investors to compare this metric to other companies in its peer group as well as the E&P sector.

|                                             |     | TWELVE MONTHS ENDED 
 DECEMBER 31, 2024   |     |             | DECEMBER 31, 2023 |     |             |
|:--------------------------------------------|:----|:--------------------|:----|------------:|:------------------|:----|------------:|
| Adjusted Cash Flow From Operations          |     |                     |     |             |                   |     |             |
| Net Cash Provided by Operating Activities   |     | $                   |     | 194,423,712 | $                 |     | 198,170,459 |
| Changes in operating assets and liabilities |     |                     |     |     888,089 |                   |     |  -1,180,748 |
| Adjusted Cash Flow from Operations          |     | $                   |     | 195,311,801 | $                 |     | 196,989,711 |

#### 97

#### RING ENERGY