Gulfport Energy Announces Pricing of Offering of Common Stock by Selling Stockholders

Gulfport Energy Corporation (NYSE: GPOR) (“Gulfport” or the “Company”) today announced the pricing of an underwritten public offering of 1,300,000 shares of its common stock by certain stockholders at a price to the public of $95.00 per share (the “Offering”). Such selling stockholders granted the underwriters a 30-day option to purchase up to an additional 195,000 shares of the Company’s common stock to cover any overallotments. Gulfport will not sell any shares of its common stock in the Offering and will not receive any proceeds from the sale of the shares being offered by the selling stockholders. The Offering is expected to close on June 26, 2023, subject to customary closing conditions.

Concurrent with the closing of the Offering, the Company intends to purchase from certain of the selling stockholders approximately $25 million of shares of the Company’s common stock at a price per share equal to the per share purchase price to be paid by the public in the Offering specified above (the “Concurrent Repurchase”). The Concurrent Repurchase is part of the Company’s existing $400 million share repurchase program and will reduce remaining availability thereunder. The Offering is not conditioned upon the closing of the Concurrent Repurchase, but the Concurrent Repurchase is conditioned upon the closing of the Offering.

BofA Securities, J.P. Morgan and Evercore ISI are acting as joint book-running managers for the Offering. The Offering is being made only by means of a prospectus supplement and the accompanying base prospectus, which was filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission (the “SEC”) on Form S-3 (File No. 333-264674). Copies of the preliminary prospectus supplement and accompanying base prospectus relating to the Offering, as well as copies of the final prospectus supplement once available, may be obtained on the SEC’s website at www.sec.gov or by contacting: BofA Securities, at NC1-022-02-25, 201 North Tryon Street, Charlotte, NC 28255-0001, Attention: Prospectus Department, or by email at [e-mail]; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, at 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at [phone], or by email at [e-mail]; or Evercore Group L.L.C., at 55 East 52nd Street, 35th Floor, New York, New York 10055, Attention: Equity Capital Markets, by telephone at [phone], or by email at [e-mail].