Management Presentation Roth Capital Conference

March, 2020

NYSE American: GDP

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 or otherwise.

March, 2020 2

Environmental: ◦ Total Gas Flared: (% of Production) ~0

◦ Total GHG Emissions: (2019) (000 Mt) (EPA,LDEQ,MDEQ,TECQ Compliant) 27

◦ Total Water Use (2019 - MMBls): 5.1

◦ OSHA Compliant

Social: ◦ Number of Employees: 51

◦ 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

◦ Number of Board Meetings: 10

◦ Board Meeting Attendance: 100%

March, 2020 3

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

Production: 145,000 Mcfe/day (4Q19), 85% YOY Growth

Low Finding/Development and Lifting Cost Generating

Competitive Rates of Return

2.5 Bcf Per 1,000 Feet of Lateral

Low LOE ($0.05/Mcf) and No Sev Tax on New Wells

Return on Capital Employed (“ROCE”) – 12.4% (TTM

EBIT/(Assets – Current Liabilities)

4Q19 Adjusted EBITDA of $20.9 Million. EBITDA Margin

of Approximately 62%*

Top Tier Capital Efficiency

Low Leverage (4Q19 – Net Debt to EBITDA – 1.25X)

Low Multiple (EV/EBITDA ~ 2.0X)

TUSCALOOSA MARINE SHALE: Gross (Net) Acres (4Q19): 48,000 (33,000) Proved Reserves (YE19 – SEC) 7 Bcfe Objectives: Tuscaloosa Marine Shale

EAGLE FORD SHALE: Gross (Net) Acres (4Q19): 18,000 (12,000) Proved Reserves (YE19 – SEC) 0 Objectives: Eagle Ford Shale, Pearsall Shale & Buda Lime

HAYNESVILLE / BOSSIER SHALE ANGELINA RIVER TREND (“ART”) Gross (Net) Acres (4Q18): 7,000 (3,000) Proved Reserves (YE18 - SEC) Objective: Haynesville & Bossier Shale

HAYNESVILLE SHALE - CORE Gross (Net) Acres (4Q19): 42,000 (22,000) Proved Reserves (YE19 - SEC) 510 Bcfe Objective: Haynesville Shale

HAYNESVILLE PURE PLAY OPPORTUNITY

STRONG HAYNESVILLE RESULTS

COMPANY RETURNS AND BALANCE SHEET

Texas

Louisiana

Mississippi

March, 2020 4

* EBITDA Margin defined as EBITDA divided

by Revenues adjusted for settled derivatives

5

55

303

428

480 517

0

100

200

300

400

500

600

2015 2016 2017 2018* 2019

ETX TMS NLA - Haynesville Total

SEC PV10 of $297 Million

YE19 Proved Reserves by Area (Bcfe, %)

YE19 Proved Reserves by Category (Bcfe, %)

SEC Proved Reserves (Bcfe) YE19 Proved Reserves by Commodity

March, 2020

PUD-

372

(72%)

PDP-

145

(28%)

HS – 511

(99%)

TMS-6

(1%)

Natural

Gas –

511

(99%)

Oil - 6

(1%)

Cash $1,452

Debt

◦ Senior Credit Facility 92,900

◦ 2L Convertible Notes 12,969

Total Debt 105,869

Total Net Debt $104,417

March, 2020 6

March, 2020

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000Mcfe/Day

Mcfe/Day

7

* Mid-Point of Guidance

Period Natural Gas Volumes Swap Volumes Collar Volumes Swap Price Collar Prices

(MCFPD) (MCFPD) (MCFPD)

1Q20 70,000 70,000 0 $2.87

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 30,000 30,000 0 $2.36

3Q21 30,000 30,000 0 $2.36

4Q21 40,000 40,000 0 $2.39

1Q22 40,000 40,000 0 $2.39

Period Oil Volumes Swap Volumes Collar Volumes Swap Price Collar Prices

(BOPD) (BOPD) (BOPD)

1Q20 250 250 0 $60.44

2Q20 225 225 0 $59.41

3Q20 210 210 0 $58.36

4Q20 200 200 0 $57.51

1Q21 200 200 0 $56.58

March, 2020 8

Production 2020E

Annual Net Production: 53 – 56 Bcfe

Avg Daily Production (Mid-Point): 149,300 Mcfe/d

Natural Gas: 99%

Capex (MM) $55 - 65

Price Realization HH Less $0.20 – 0.30

Unit Costs (Per Mcfe)

LOE $0.20 – 0.25

Taxes $0.05 – 0.10

Transportation $0.25 – 0.35

G&A (Cash) $0.24 – 0.30

Activity (Turned In Line) Wells

Gross (Net) Wells: 13 (5.8)

Average Net Lateral Length: ~8,500’

Percentage Operated (Net): 72%

Net Capital Allocation

Bethany-Longstreet 91%

Thorn Lake 9%

Quarterly Completion (TIL) Cadence

1Q20 1 Gross (1.0 Net)

2Q20 7 Gross (2.3 Net)

3Q20 2 Gross (1.8 Net)

4Q20 4 Gross (0.7 Net)

Total 13 Gross (5.8 Net)

March, 2020 9

-10.00

-5.00

0.00

5.00

10.00

15.00

20.00

25.00

GDP

ROCE

March, 2020 Peer Group Includes: APA,AR,BCEI,CDEV,CHK,CLR,COG,CPE,CRC,CRK,CXO,DNR,DVN,EOG, EQT,FANG,GDP,GPOR,HPR,KOS,LPI,MGY,MTDR,MUR,NBL,OAS,OVV,PDCE,PE,PVAC,PXD,QEP,RRC, SD,SM,SWN,WLL,WPX,XEC Source: Bloomberg, Company (4Q19 Financials as of March 3, 2020) 10

0.00

1.00

2.00

3.00

4.00

5.00

6.00

GDP

NET DEBT/EBITDA

March, 2020

Peer Group Includes: APA,AR,BCEI,CDEV,CHK,CLR,COG,CPE,CRC,CRK,CXO,DNR,DVN, EOG,EQT,FANG,GDP,GPOR,HPR,KOS,LPI,MGY,MTDR,MUR,NBL,OAS,OVV,PDCE,PE,PVAC,PXD,QEPRRC,SD,SM,SWN,WLL,WPX,XEC Source: Bloomberg, Company (4Q19 Financials as of March 3, 2020)

11

0.00

1.00

2.00

3.00

4.00

5.00

6.00

7.00

8.00

GDP

EV/EBITDA

March, 2020 Peer Group Includes: APA,AR,BCEI,CDEV,CHK,CLR,COG,CPE,CRC,CRK,CXO,DNR,DVN,EOG,EQT, FANG,GDP,GPOR,HPR,KOS,LPI,MGY,MTDR,MUR,NBL,OAS,OVV,PDCE,PE,PVAC, PXD,QEP,RRC,SD,SM,SWN,WLL,WPX,XEC Source: Bloomberg, Company (4Q19 Financials as of March 3, 2020) 12

GDP 22,000 Net Acres

Pay Zones

} 100 – 300 feet

March, 2020 13

March, 2020 GDP 14

Haynesville - Core

Total Gross/Net Acres:

~34,000/19,000

Average WI/NRI: ~59%/43%

Acreage HBP: 100%

117 total producing wells (32

Operated)

1/1/20 – Inventory of 208 gross (91

net) potential locations on 880’

spacing providing 15+ year inventory

Operator for Approximately 73% of

the NLA core position

CHK Joint Venture on most of the

remaining 27% of NLA Core

Acreage

Recent Acreage Swaps Adding to

Operated and Long Lateral Acreage

Continuing to Look For Bolt-On

Opportunities

Shelby Trough/Angelina River Trend

(ART)

Haynesville and Bossier Shales:

Total Gross/Net Acres: ~8,000/

3,000

Average WI/NRI: ~40% / 30%

TOTAL HAYNESVILLE SHALE

~22,000 net Ac

ART 3,000 Net

Ac

NORTH LOUISIANA CORE

AREA 19,000 Net Ac

Rig Source: Ulterra Bits

HAYNESVILLE COMPLETION EVOLUTION

March, 2020 15

• 4,600‘ Laterals

• 1,000 lbs/ft Proppant

• Hybrid Fluid

• 300-450’ Frac Intervals

• Cluster Spacing 50-70’

• 10,000’ Laterals

• 5,000+ lbs/ft Proppant

• Slick Water & Hybrid Fluid

• <100’ Frac Intervals

• Cluster Spacing 20 - 50’

• 4,600 - 10,000’ Laterals

• 3,000 – 4,000 lbs/ft Proppant

• Slick Water Fluid

• 100 - 150’ Frac Intervals

• Cluster Spacing 20 - 30’

Original Design

Tested

Current Design

Evolving completions maximize near-wellbore stimulation

HAYNESVILLE – RECENT INDUSTRY ACTIVITY

March, 2020 16

(8) CHK ROTC 1 & 2

10,000’ Laterals IP: 72,000 Mcf/d

19 Bcf in 19 months

(11) GDP-Wurtsbaugh 25-24 #2&3

7,500’ Laterals IP: 25,000 Mcf/d IP: 29,000 Mcf/d

(10) GDP Wurtsbaugh 26 4,600’ Lateral

IP: 22,000 Mcf/d

(9) GDP MSR - Hunt 5H-1

4,600’ Lateral IP: 17,000 Mcf/d

(22) CHK Black 1H

IP: 44,000 Mcf/d 10,000’ Lateral

(21) Vine HA RA SU74;L L

Golson 3 - 003-ALT IP: 18,800 Mcf/d

4,661’ Lateral

5. CHK GEPH Unit

IP: 47,988 Mcf/d 15,000’ Lateral

4. CRK HUNTER 28-21HC 1&2 IP: 27,000 Mcf/d each

9,200’ Laterals

(13) GDP

Franks 25&24 #1 IP: 30,000 Mcf/d

9,600’ Lateral

(12) GDP

Wurtsbaugh 25-24 #1 8,800’ Lateral

IP: 31,000 Mcf/d

(19) GDP

Cason-Dickson #1&2 IP: 31 MMcf/d, IP: 23 MMcf/d

8,000 & 3,000’ Laterals

3. CRK FLORSHEIM 9-16 HC #1&2 10,000’ Laterals

IP: 26,500 Mcf/d IP: 27,600 Mcf/d

(20) GDP

Cason-Dickson 23&24 #3&4

IP: 62,000 Mcf/d 9,300’ Laterals

(18) GDP

Harris 14&23 #1 IP: 27,500 Mcf/d

6,100’ Lateral

(14) GDP

Loftus 27&22 #1 & 2 26,000 Mcfe/d 25,000 Mcfe/d 7,500’ Laterals

(15) GDP

Demmon 34H #1 22,500 Mcf/d 4,600’ Lateral

(16) GDP

Wurtsbaugh 35H #1 IP: 22,500 Mcf/d

4,600’ Lateral

(7) CRK Cook 21-28 HC #2

10,000’ Lateral IP: 26,800 Mcf/d

3,798#/ft

(6) CRK Cook 21-28 HC #1

10,000’ Lateral IP: 25,600 Mcf/d

3,803#/ft

(2) CRK Nissen 28-21HC #2

10,000’ Lateral IP: 25,000 Mcf/d

3,801#/ft

(1) CRK Nissen 28-21HC #1

10,000’ Lateral IP: 27,000 Mcf/d

3,796#/ft

(17) Covey Park Tucker 31-6C H1 IP 18,045 Mcf/d

7,466’ Lateral

1

2

3

4

5 6

7

8

9

10-16

17

18-20

21

22

(22) GDP Melody Jones 20H-1

4,600’ Lateral IP: 22,000 Mcf/d

22

(23) CRK Gates 26-35 #1 & #2

10,000’ Laterals IP: 24,600 Mcf/d IP: 23,700 Mcf/d

23

March, 2020 17

March, 2020 18

March, 2020 19

March, 2020 20

Assumptions Louisiana

EUR

12.2 Bcf (2.7 Bcf/1,000’)

Sales Gas BTU

Price

Adjustment

1.020

Pricing

Differentials/

Transportation

Average - NYMEX less $0.15 / MMBtu

Transportation: $0.25 / Mcf

Fixed Opex Fixed Opex:

$3,290 / month

Variable Opex $0.07 / Mcf

Severance Tax Payout or 24 month tax holiday;

thereafter $0.12 / Mcf

Ad Val Tax $0.04 / Mcf

Royalty Burden 27.0%

D&C Capex $8.9 MM

Facilities Capex $0.185 MM, included in D&C Capex

Spud to 1st Sale 60 Days

PV10 (M$) ($2.75/Mcf Pricing)

$4,875 (Post Capex)

Economic EUR’s vary depending on gas price assumptions.

100

1,000

10,000

100,000

0 20 40 60 80 100 120

Avg D

aily P

roducti

on (M

cfp

d)

Months

4,600' Lateral Type Curve

4,600' Lateral

EUR Capex

(Mmcfe) ($M)

90% 100% 110% 90% 100% 110%

2.00 3.7% 11.5% 21.3% 2.00 20.7% 11.5% 5.1%

2.25 9.0% 23.6% 40.6% 2.25 38.2% 23.6% 13.0%

2.50 22.4% 38.0% 56.6% 2.50 54.3% 38.0% 26.2%

2.75 35.6% 54.8% 77.3% 2.75 75.1% 54.8% 40.0%

3.00 51.2% 74.2% 101.7% 3.00 98.7% 74.2% 56.4%

Ownership: WI 100% - NRI 73%

Pricing: Flat Pricing

AFE: Two well pad.

IRR Sensitivity Analysis Estimates (IRR sensitivity to EURs and Capex)

IRRs Incoporates Early Time Outperformance

Gas

Pri

ce

Gas

Pri

ce

March, 2020 21

Assumptions Louisiana

EUR

21 Bcf (2.8 Bcf/1,000’)

Sales Gas BTU

Price

Adjustment

1.020

Pricing

Differentials/

Transportation

Average - NYMEX less $0.15 / MMBtu

Transportation - $0.25 / Mcf

Fixed Opex Fixed Opex: $3,290 / month

Variable Opex $0.07 / Mcf

Severance Tax Payout or 24 month tax holiday;

thereafter $0.12 / Mcf

Ad Val Tax $0.04 / Mcf

Royalty Burden 27.0%

D&C Capex $11.5 MM

Facilities Capex $0.185 MM, included in D&C Capex

Spud to 1st Sale 60 Days

PV10 (M$) ($2.75/Mcf Pricing)

$10,132 (Post Capex)

Economic EUR’s vary depending on gas price assumptions.

100

1,000

10,000

100,000

0 20 40 60 80 100 120

Avg D

aily P

roducti

on (M

cfp

d)

Months

7,500' Lateral Type Curve

7,500' Lateral

EUR Capex

(Mmcfe) ($M)

90% 100% 110% 90% 100% 110%

2.00 15.9% 24.9% 35.4% 2.00 34.9% 24.9% 17.9%

2.25 26.7% 40.4% 72.7% 2.25 54.9% 40.4% 29.9%

2.50 41.2% 58.9% 78.9% 2.50 77.7% 58.9% 45.4%

2.75 58.0% 80.6% 106.4% 2.75 104.8% 80.6% 62.9%

3.00 78.3% 105.8% 137.5% 3.00 135.4% 105.8% 83.6%

Ownership: WI 100% - NRI 73%

Pricing: Flat Pricing

AFE: Two well pad.

IRR Sensitivity Analysis Estimates (IRR sensitivity to EURs and Capex) IRRs Incoporates Early Time Outperformance

Gas

Pri

ce

Gas

Pri

ce

March, 2020 22

Assumptions Louisiana

EUR

25 Bcf (2.5 Bcf/1,000’)

Sales Gas BTU

Price

Adjustment

1.020

Pricing

Differentials/

Transportation

Average - NYMEX less $0.15 / MMBtu

Transportation - $0.25 / Mcf

Fixed Opex Fixed Opex: $3,290 / month

Variable Opex $0.07 / Mcf

Severance Tax Payout or 24 month tax holiday;

thereafter $0.12 / Mcf

Ad Val Tax $0.03 / Mcf

Royalty Burden 27.0%

D&C Capex $13.1 MM

Facilities Capex $0.185 MM, included in D&C Capex

Spud to 1st Sale 60 Days

PV10 (M$) ($3.00/Mcf Pricing)

$14,376 (Post Capex)

Economic EUR’s vary depending on gas price assumptions.

100

1,000

10,000

100,000

0 20 40 60 80 100 120

Avg D

aily P

roducti

on (M

cfp

d)

Months

10,000' Lateral Type Curve

10,000' Lateral

EUR Capex

(Mmcfe) ($M)

90% 100% 110% 90% 100% 110%

2.00 15.4% 23.3% 31.9% 2.00 31.2% 23.3% 16.8%

2.25 24.8% 35.9% 48.5% 2.25 47.6% 35.9% 27.1%

2.50 40.1% 55.4% 72.9% 2.50 71.8% 55.4% 43.1%

2.75 58.2% 78.5% 101.9% 2.75 100.5% 78.5% 62.2%

3.00 79.3% 105.6% 135.8% 3.00 134.1% 105.6% 84.4%

Ownership: WI 100% - NRI 73%

Pricing: Flat Pricing

AFE: Two well pad.

IRR Sensitivity Analysis (IRR sensitivity to EURs and Capex) IRRs Incoporates Early Time Outperformance

Gas

Pri

ce

Gas

Pri

ce

Cash Flow Generation With Strong Balance Sheet and Low Trading Multiple Creates an Attractive Entry Point for the Stock

16 Year Inventory on Core Haynesville Position Provides 1+ Tcf of Resource Potential on Acreage Held By Production

A Continued Reduction in Per Unit Cash Costs Driven By High Volume Low Lifting Costs Wells

Optionality on 2020 Capital Plans Expected to Deliver Growth and Free Cash

March, 2020 23