W&T OFFSHORE INC — Call Transcript 2026

Good morning, and welcome to the W&T Offshore, Inc. 2026 Annual Meeting of Shareholders. I would now like to turn the conference over to Mr. William Williford, Chair of the Annual Meeting, Executive Vice President and Chief Operating Officer of W&T Offshore, Inc. Please go ahead, sir. Thank you, operator. The 2026 Annual Meeting of Shareholders of W&T Offshore, Inc. will please come to order. I'd like to welcome all shareholders and guests attending this virtual annual meeting of shareholders. I'd like to begin the meeting by introducing the other members of the company's Board of Directors who are all present. Joining me today are the following: Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, Chairman of the Board, President, and Chief Executive Officer, and Frank Stanley. We also have a number of company officers here with us. Joining me today are the following: Sameer Parasnis, Executive Vice President and Chief Financial Officer, George Hittner, Executive Vice President, General Counsel, and Corporate Secretary, Huan Gamblin, Executive Vice President and Chief Technical Officer, Trey Hartman, Vice President and Chief Accounting Officer, Chris Carrion, Senior Legal Counsel. An agenda that outlines the order of business for the meeting has been made available in the web portal, along with the rules of conduct, which we ask you to please observe. The company has also made available the shareholder list of the company as of the close of business on the record date for determining shareholders eligible to vote at the meeting, which shows the shareholders and the respective number of shares entitled to vote at this meeting. This list is available if any shareholder wishes to examine it. We will first conduct the business portion of the meeting and then respond to appropriate questions from valid shareholders following the adjournment of the formal meeting, time permitting. The matters on which the shareholders at the meeting are voting are, one, to elect six directors to hold office until 2027 annual meeting of shareholders and until their successors are duly elected and qualified. The board has nominated Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, and Frank Stanley for election as directors. Two, to approve on an advisory basis the compensation of the company's named executives as disclosed in the 2026 proxy statement. Three, to ratify the appointment of Deloitte & Touche as the company's independent registered public accountants for the year ending December 31st, 2026. Four, to amend our 2023 Incentive Compensation Plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million. We did not receive notice within the required time period accordance with the company's bylaws of any additional matters to be considered, including any shareholder nominations of candidates for election to the board of directors. Therefore, no other proposals or nominations may be presented at this meeting for consideration. George Hittner, Executive Vice President, General Counsel, and Corporate Secretary of the company, will serve as Secretary of the meeting and record the proceedings. The Secretary has delivered to the company an affidavit of Broadridge Financial Solutions, Inc., which states that on April 23rd, 2026, notice of the meeting and notice of internet availability of proxy materials was processed and distributed to all shareholders of record for the meeting. I hereby appoint Louis Larson to act as Inspector of Election for the meeting and any adjournment or postponement thereof. Mr. Larson has signed an oath to act as Inspector of Election. Does the Inspector of Election have a report on the establishment of a quorum? Mr. Chair, I am pleased to report that 119,169,503 shares of common stock of W&T Offshore, Inc. are present in person or represented by proxy at this meeting, and that there is a quorum present for the transaction of business. Thank you. On the basis of that report, I declare the meeting duly and lawfully convened. The meeting is now open and ready for business. I now declare the polls to be open, and we will proceed with the voting on the matters presented at the meeting. A summary of each item can be found in the company's proxy statement. If you have voted your shares before the start of the meeting, your vote has been received, and there's no need to vote again during the meeting unless you wish to revoke or change your vote. If you have not yet voted and wish to vote, or if you wish to revoke or change your vote, you may vote on the meeting platform. This completes the business to be conducted at this meeting. There being no other. Oh. Sorry. It is now 8:06 A.M., and it appears that everyone has had the opportunity to vote. Accordingly, the polls for voting on the matters before this meeting are hereby closed. I understand that the votes have been counted, and preliminary report of the Inspector of Election has been delivered to the company. Mr. Larson, will you please announce the preliminary results of the votes? The preliminary report of the Inspector of Election indicates that, one, Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, and Frank Stanley have been elected as directors by the shareholders, each candidate having received the affirmative vote of a plurality of the shares present in person or represented by proxy and entitled to vote in the election of directors. Two, the compensation of the company's named executive officers, as disclosed in the proxy statement, has been approved by the affirmative vote of the shares present in person or represented by proxy and entitled to vote on the proposal. Three, the ratification of the appointment of Deloitte & Touche as the company's independent registered public accountants for the year ending December 31st, 2026, has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal. Four, the amendment to the company's 2023 Incentive Compensation Plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal. Thank you, Mr. Larson. You have now heard the preliminary results of voting. We will report the final results in a Form 8-K within four business days. This completes the business to be conducted at this meeting. There being no other business before the meeting, the chair will declare the meeting adjourned. We will now open the floor to questions from shareholders. Mr. Hittner will read the questions. Please note that we will attempt to answer as many questions as time allows, and only questions that are germane to the meeting will be addressed. In addition, I would also like to recognize Kerry Flynn, who is here as a representative of Deloitte & Touche and will be available to respond to appropriate questions. Thank you, Mr. Williford. No questions germane to the meeting have been submitted by the shareholders. Thank you. The conference has now concluded. Thank you for attending today's meeting. You may now disconnect.

Speaker 3: Good morning, and welcome to the W&T Offshore, Inc. 2026 Annual Meeting of Shareholders. I would now like to turn the conference over to Mr. William Williford, Chair of the Annual Meeting, Executive Vice President and Chief Operating Officer of W&T Offshore, Inc. Please go ahead, sir. Good morning, and welcome to the W&T Offshore, Inc. 2026 Annual Meeting of Shareholders. good morning and welcome to the w&t offshore inc 2026 annual meeting of shareholders I would now like to turn the conference over to Mr. William Williford, Chair of the Annual Meeting, Executive Vice President and Chief Operating Officer of W&T Offshore, Inc. Please go ahead, sir. i would now like to turn the conference over to mr william williford chair of the annual meeting executive vice president and chief operating officer of w&t offshore inc please go ahead sir

Speaker 4: Thank you, operator. The 2026 Annual Meeting of Shareholders of W&T Offshore, Inc. will please come to order. I'd like to welcome all shareholders and guests attending this virtual annual meeting of shareholders. I'd like to begin the meeting by introducing the other members of the company's Board of Directors who are all present. Joining me today are the following: Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, Chairman of the Board, President, and Chief Executive Officer, and Frank Stanley. We also have a number of company officers here with us. Joining me today are the following: Sameer Parasnis, Executive Vice President and Chief Financial Officer, George Hittner, Executive Vice President, General Counsel, and Corporate Secretary, Huan Gamblin, Executive Vice President and Chief Technical Officer, Trey Hartman, Vice President and Chief Accounting Officer, Chris Carrion, Senior Legal Counsel. Thank you, operator. thank you operator The 2026 Annual Meeting of Shareholders of W&T Offshore, Inc. will please come to order. the 2026 annual meeting of shareholders of w&t offshore inc will please come to order I'd like to welcome all shareholders and guests attending this virtual annual meeting of shareholders. i'd like to welcome all shareholders and guests attending this virtual annual meeting of shareholders I'd like to begin the meeting by introducing the other members of the company's Board of Directors who are all present. i'd like to begin the meeting by introducing the other members of the company's board of directors who are all present Joining me today are the following: Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, Chairman of the Board, President, and Chief Executive Officer, and Frank Stanley. joining me today are the following virginia boulet john buchanan nancy chang daniel conwill tracy krohn chairman of the board president and chief executive officer and frank stanley We also have a number of company officers here with us. we also have a number of company officers here with us Joining me today are the following: Sameer Parasnis, Executive Vice President and Chief Financial Officer, George Hittner, Executive Vice President, General Counsel, and Corporate Secretary, Huan Gamblin, Executive Vice President and Chief Technical Officer, Trey Hartman, Vice President and Chief Accounting Officer, Chris Carrion, Senior Legal Counsel. joining me today are the following sameer parasnis executive vice president and chief financial officer george hittner executive vice president general counsel and corporate secretary huan gamblin executive vice president and chief technical officer trey hartman vice president and chief accounting officer chris carrion senior legal counsel An agenda that outlines the order of business for the meeting has been made available in the web portal, along with the rules of conduct, which we ask you to please observe. The company has also made available the shareholder list of the company as of the close of business on the record date for determining shareholders eligible to vote at the meeting, which shows the shareholders and the respective number of shares entitled to vote at this meeting. This list is available if any shareholder wishes to examine it. We will first conduct the business portion of the meeting and then respond to appropriate questions from valid shareholders following the adjournment of the formal meeting, time permitting. An agenda that outlines the order of business for the meeting has been made available in the web portal, along with the rules of conduct, which we ask you to please observe. an agenda that outlines the order of business for the meeting has been made available in the web portal along with the rules of conduct which we ask you to please observe The company has also made available the shareholder list of the company as of the close of business on the record date for determining shareholders eligible to vote at the meeting, which shows the shareholders and the respective number of shares entitled to vote at this meeting. the company has also made available the shareholder list of the company as of the close of business on the record date for determining shareholders eligible to vote at the meeting which shows the shareholders and the respective number of shares entitled to vote at this meeting This list is available if any shareholder wishes to examine it. this list is available if any shareholder wishes to examine it We will first conduct the business portion of the meeting and then respond to appropriate questions from valid shareholders following the adjournment of the formal meeting, time permitting. we will first conduct the business portion of the meeting and then respond to appropriate questions from valid shareholders following the adjournment of the formal meeting time permitting The matters on which the shareholders at the meeting are voting are, one, to elect six directors to hold office until 2027 annual meeting of shareholders and until their successors are duly elected and qualified. The board has nominated Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, and Frank Stanley for election as directors. Two, to approve on an advisory basis the compensation of the company's named executives as disclosed in the 2026 proxy statement. Three, to ratify the appointment of Deloitte & Touche as the company's independent registered public accountants for the year ending December 31st, 2026. Four, to amend our 2023 Incentive Compensation Plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million. The matters on which the shareholders at the meeting are voting are, one, to elect six directors to hold office until 2027 annual meeting of shareholders and until their successors are duly elected and qualified. the matters on which the shareholders at the meeting are voting are one to elect six directors to hold office until 2027 annual meeting of shareholders and until their successors are duly elected and qualified The board has nominated Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, and Frank Stanley for election as directors. the board has nominated virginia boulet john buchanan nancy chang daniel conwill tracy krohn and frank stanley for election as directors Two, to approve on an advisory basis the compensation of the company's named executives as disclosed in the 2026 proxy statement. two to approve on an advisory basis the compensation of the company's named executives as disclosed in the 2026 proxy statement Three, to ratify the appointment of Deloitte & Touche as the company's independent registered public accountants for the year ending December 31st, 2026. three to ratify the appointment of deloitte & touche as the company's independent registered public accountants for the year ending december 31st 2026 Four, to amend our 2023 Incentive Compensation Plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million. four to amend our 2023 incentive compensation plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million We did not receive notice within the required time period accordance with the company's bylaws of any additional matters to be considered, including any shareholder nominations of candidates for election to the board of directors. Therefore, no other proposals or nominations may be presented at this meeting for consideration. George Hittner, Executive Vice President, General Counsel, and Corporate Secretary of the company, will serve as Secretary of the meeting and record the proceedings. The Secretary has delivered to the company an affidavit of Broadridge Financial Solutions, Inc., which states that on April 23rd, 2026, notice of the meeting and notice of internet availability of proxy materials was processed and distributed to all shareholders of record for the meeting. I hereby appoint Louis Larson to act as Inspector of Election for the meeting and any adjournment or postponement thereof. Mr. Larson has signed an oath to act as Inspector of Election. We did not receive notice within the required time period accordance with the company's bylaws of any additional matters to be considered, including any shareholder nominations of candidates for election to the board of directors. we did not receive notice within the required time period accordance with the company's bylaws of any additional matters to be considered including any shareholder nominations of candidates for election to the board of directors Therefore, no other proposals or nominations may be presented at this meeting for consideration. therefore no other proposals or nominations may be presented at this meeting for consideration George Hittner, Executive Vice President, General Counsel, and Corporate Secretary of the company, will serve as Secretary of the meeting and record the proceedings. george hittner executive vice president general counsel and corporate secretary of the company will serve as secretary of the meeting and record the proceedings The Secretary has delivered to the company an affidavit of Broadridge Financial Solutions, Inc., which states that on April 23rd, 2026, notice of the meeting and notice of internet availability of proxy materials was processed and distributed to all shareholders of record for the meeting. the secretary has delivered to the company an affidavit of broadridge financial solutions inc which states that on april 23rd 2026 notice of the meeting and notice of internet availability of proxy materials was processed and distributed to all shareholders of record for the meeting I hereby appoint Louis Larson to act as Inspector of Election for the meeting and any adjournment or postponement thereof. i hereby appoint louis larson to act as inspector of election for the meeting and any adjournment or postponement thereof Mr. Larson has signed an oath to act as Inspector of Election. mr larson has signed an oath to act as inspector of election Does the Inspector of Election have a report on the establishment of a quorum? Does the Inspector of Election have a report on the establishment of a quorum? does the inspector of election have a report on the establishment of a quorum

Speaker 2: Mr. Chair, I am pleased to report that 119,169,503 shares of common stock of W&T Offshore, Inc. are present in person or represented by proxy at this meeting, and that there is a quorum present for the transaction of business. Mr. Chair, I am pleased to report that 119,169,503 shares of common stock of W&T Offshore, Inc. are present in person or represented by proxy at this meeting, and that there is a quorum present for the transaction of business. mr chair i am pleased to report that 119,169,503 shares of common stock of w&t offshore inc are present in person or represented by proxy at this meeting and that there is a quorum present for the transaction of business

Speaker 4: Thank you. On the basis of that report, I declare the meeting duly and lawfully convened. The meeting is now open and ready for business. I now declare the polls to be open, and we will proceed with the voting on the matters presented at the meeting. A summary of each item can be found in the company's proxy statement. If you have voted your shares before the start of the meeting, your vote has been received, and there's no need to vote again during the meeting unless you wish to revoke or change your vote. If you have not yet voted and wish to vote, or if you wish to revoke or change your vote, you may vote on the meeting platform. This completes the business to be conducted at this meeting. There being no other. Oh. Sorry. Thank you. thank you On the basis of that report, I declare the meeting duly and lawfully convened. on the basis of that report i declare the meeting duly and lawfully convened The meeting is now open and ready for business. the meeting is now open and ready for business I now declare the polls to be open, and we will proceed with the voting on the matters presented at the meeting. i now declare the polls to be open and we will proceed with the voting on the matters presented at the meeting A summary of each item can be found in the company's proxy statement. a summary of each item can be found in the company's proxy statement If you have voted your shares before the start of the meeting, your vote has been received, and there's no need to vote again during the meeting unless you wish to revoke or change your vote. if you have voted your shares before the start of the meeting your vote has been received and there's no need to vote again during the meeting unless you wish to revoke or change your vote If you have not yet voted and wish to vote, or if you wish to revoke or change your vote, you may vote on the meeting platform. if you have not yet voted and wish to vote or if you wish to revoke or change your vote you may vote on the meeting platform This completes the business to be conducted at this meeting. this completes the business to be conducted at this meeting There being no other. there being no other Oh. oh Sorry. sorry It is now 8:06 A.M., and it appears that everyone has had the opportunity to vote. Accordingly, the polls for voting on the matters before this meeting are hereby closed. I understand that the votes have been counted, and preliminary report of the Inspector of Election has been delivered to the company. Mr. Larson, will you please announce the preliminary results of the votes? It is now 8:06 A.M., and it appears that everyone has had the opportunity to vote. it is now 8:06 a.m and it appears that everyone has had the opportunity to vote Accordingly, the polls for voting on the matters before this meeting are hereby closed. accordingly the polls for voting on the matters before this meeting are hereby closed I understand that the votes have been counted, and preliminary report of the Inspector of Election has been delivered to the company. i understand that the votes have been counted and preliminary report of the inspector of election has been delivered to the company Mr. Larson, will you please announce the preliminary results of the votes? mr larson will you please announce the preliminary results of the votes

Speaker 2: The preliminary report of the Inspector of Election indicates that, one, Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn, and Frank Stanley have been elected as directors by the shareholders, each candidate having received the affirmative vote of a plurality of the shares present in person or represented by proxy and entitled to vote in the election of directors. Two, the compensation of the company's named executive officers, as disclosed in the proxy statement, has been approved by the affirmative vote of the shares present in person or represented by proxy and entitled to vote on the proposal. The preliminary report of the Inspector of Election indicates that, one, Virginia Boulet, John Buchanan, Nancy Chang, Daniel Conwill, Tracy Krohn , and Frank Stanley have been elected as directors by the shareholders, each candidate having received the affirmative vote of a plurality of the shares present in person or represented by proxy and entitled to vote in the election of directors. the preliminary report of the inspector of election indicates that one virginia boulet john buchanan nancy chang daniel conwill tracy krohn and frank stanley have been elected as directors by the shareholders each candidate having received the affirmative vote of a plurality of the shares present in person or represented by proxy and entitled to vote in the election of directors Two, the compensation of the company's named executive officers, as disclosed in the proxy statement, has been approved by the affirmative vote of the shares present in person or represented by proxy and entitled to vote on the proposal. two the compensation of the company's named executive officers as disclosed in the proxy statement has been approved by the affirmative vote of the shares present in person or represented by proxy and entitled to vote on the proposal Three, the ratification of the appointment of Deloitte & Touche as the company's independent registered public accountants for the year ending December 31st, 2026, has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal. Four, the amendment to the company's 2023 Incentive Compensation Plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal. Three, the ratification of the appointment of Deloitte & Touche as the company's independent registered public accountants for the year ending December 31st, 2026, has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal. three the ratification of the appointment of deloitte & touche as the company's independent registered public accountants for the year ending december 31st 2026 has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal Four, the amendment to the company's 2023 Incentive Compensation Plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal. four the amendment to the company's 2023 incentive compensation plan to increase the number of shares of the company's common stock available for issuance thereunder from 10 million to 22 million has been approved by the affirmative vote of a majority of the shares present in person or represented by proxy and entitled to vote on the proposal

Speaker 4: Thank you, Mr. Larson. You have now heard the preliminary results of voting. We will report the final results in a Form 8-K within four business days. This completes the business to be conducted at this meeting. There being no other business before the meeting, the chair will declare the meeting adjourned. We will now open the floor to questions from shareholders. Mr. Hittner will read the questions. Please note that we will attempt to answer as many questions as time allows, and only questions that are germane to the meeting will be addressed. In addition, I would also like to recognize Kerry Flynn, who is here as a representative of Deloitte & Touche and will be available to respond to appropriate questions. Thank you, Mr. Larson. thank you mr larson You have now heard the preliminary results of voting. you have now heard the preliminary results of voting We will report the final results in a Form 8-K within four business days. we will report the final results in a form 8-k within four business days This completes the business to be conducted at this meeting. this completes the business to be conducted at this meeting There being no other business before the meeting, the chair will declare the meeting adjourned. there being no other business before the meeting the chair will declare the meeting adjourned We will now open the floor to questions from shareholders. we will now open the floor to questions from shareholders Mr. Hittner will read the questions. mr hittner will read the questions Please note that we will attempt to answer as many questions as time allows, and only questions that are germane to the meeting will be addressed. please note that we will attempt to answer as many questions as time allows and only questions that are germane to the meeting will be addressed In addition, I would also like to recognize Kerry Flynn, who is here as a representative of Deloitte & Touche and will be available to respond to appropriate questions. in addition i would also like to recognize kerry flynn who is here as a representative of deloitte & touche and will be available to respond to appropriate questions

Speaker 1: Thank you, Mr. Williford. No questions germane to the meeting have been submitted by the shareholders. Thank you, Mr. Williford. thank you mr williford No questions germane to the meeting have been submitted by the shareholders. no questions germane to the meeting have been submitted by the shareholders

Speaker 3: Thank you. The conference has now concluded. Thank you for attending today's meeting. You may now disconnect. Thank you. thank you The conference has now concluded. the conference has now concluded Thank you for attending today's meeting. thank you for attending today's meeting You may now disconnect. you may now disconnect