RING ENERGY, INC. — Director's Dealing 2025

May 15, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: RING ENERGY, INC. (REI)
CIK: 0001384195
Period of Report: 2025-05-12

Reporting Person: Warburg Pincus (E&P) XII LLC (N/A)
Reporting Person: Warburg Pincus (E&P) XII, L.P. (N/A)
Reporting Person: Warburg Pincus XII (E&P) Partners-2, L.P. (N/A)
Reporting Person: Warburg Pincus XII (E&P) Partners-1, L.P. (N/A)
Reporting Person: WP XII STRONGHOLD HOLDINGS, L.P. (N/A)
Reporting Person: WP XII (E&P) Partners (A), L.P. (N/A)
Reporting Person: Warburg Pincus Private Equity (E&P) XII-E (A), L.P. (N/A)
Reporting Person: Warburg Pincus Private Equity (E&P) XII-D (A), L.P. (N/A)
Reporting Person: Warburg Pincus Private Equity (E&P) XII (A), L.P. (N/A)
Reporting Person: WARBURG PINCUS XII (E&P) PARTNERS-2 STRONGHOLD, LLC (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-12	Common Stock	S	300000	$0.9	Disposed	28645643	Indirect
2025-05-13	Common Stock	S	634481	$0.91	Disposed	28011162	Indirect
2025-05-14	Common Stock	S	455655	$0.89	Disposed	27555507	Indirect

Footnotes

F1: Represents a weighted average price. These shares of common stock, par value $0.001 of the Issuer (the "Common Stock") were sold in multiple transactions at prices ranging from $0.87 to $0.94, inclusive.

F2: Represents a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $0.89 to $0.93, inclusive.

F3: Represents a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $0.88 to $0.91, inclusive.

F4: The reporting persons undertake to provide to Ring Energy, Inc. (the "Issuer"), any security holder of the Issuer, or the staff of the Securities and Exchange Commission (the "SEC"), upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (1), (2) and (3) to this Form 4.

F5: Following the reported transactions, the shares of Common Stock are directly held as follows: 7,778,920 by Warburg Pincus Energy (E&P)-A, L.P.; 4,964,125 by WP Energy Stronghold Holdings, L.P.; 406,443 by WP Energy Partners Stronghold Holdings, L.P.; 469,821 by Warburg Pincus Energy (E&P) Partners-A, L.P.; 158,445 by Warburg Pincus Energy (E&P) Partners-B Stronghold, LLC; 5,035,079 by Warburg Pincus Private Equity (E&P) XII (A), L.P.; 120,831 by Warburg Pincus Private Equity (E&P) XII-D (A), L.P.; 182,831 by Warburg Pincus Private Equity (E&P) XII-E (A), L.P.; 329,289 by WP XII (E&P) Partners (A), L.P.; 7,183,583 by WP XII Stronghold Holdings, L.P.; 847,333 by Warburg Pincus XII (E&P) Partners-1, L.P.; and 78,807 by Warburg Pincus XII (E&P) Partners-2 Stronghold, LLC.

F6: Warburg Pincus & Company US, LLC ("Warburg Pincus") is the general partner of Warburg Pincus Partners II (US), L.P., which is the managing member of Warburg Pincus (E&P) Energy LLC and Warburg Pincus (E&P) XII LLC. Warburg Pincus (E&P) Energy LLC is the general partner of Warburg Pincus (E&P) Energy GP, L.P., which is the general partner of Warburg Pincus Energy (E&P)-A, L.P., WP Energy Stronghold Holdings, L.P., WP Energy Partners Stronghold Holdings, L.P., Warburg Pincus Energy (E&P) Partners-A, L.P., and Warburg Pincus Energy (E&P) Partners-B, L.P. Warburg Pincus Energy (E&P) Partners-B, L.P. is the managing member of Warburg Pincus Energy (E&P) Partners-B Stronghold, LLC. (continued in footnote 7)

F7: (continued from footnote 6) Warburg Pincus (E&P) XII LLC is the general partner of Warburg Pincus (E&P) XII, L.P., which is the general partner of Warburg Pincus XII (E&P) Partners-1, L.P., Warburg Pincus XII (E&P) Partners-2, L.P., WP XII Stronghold Holdings, L.P., WP XII (E&P) Partners (A), L.P., Warburg Pincus Private Equity (E&P) XII (A), L.P., Warburg Pincus Private Equity (E&P) XII-D (A), L.P., and Warburg Pincus Private Equity (E&P) XII-E (A), L.P. Warburg Pincus XII (E&P) Partners-2, L.P. is the managing member of Warburg Pincus XII (E&P) Partners-2 Stronghold, LLC (Warburg Pincus and the other entities listed in these footnotes 6 and 7, collectively, the "Warburg Entities").

F8: Each of the Warburg Entities disclaims beneficial ownership of the securities reported herein except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Warburg Entities are the beneficial owners of such securities for purposes of Section 16 or for any other purposes.