January 23, 2026

Dear Sonu Johl,

The Board of Directors (the “Board”) of Ring Energy, Inc. (the “Company”) is very pleased to offer you the position of Executive Vice President, Chief Financial Officer & Treasurer. We believe you have the right combination of skills and experience for this position and look forward to you joining our executive team. The specifics of our offer are as follows:

Compensation:    Base salary at an annual rate of $425,000, to be paid in accordance with the Company’s regular payroll practices.

Benefits:    Your 2026 elected benefits will begin the first of the month following your Start Date, which include participation in Company benefits including 240 hours PTO/sick leave, holidays, group health coverage, dental, and vision.

You are eligible to participate in our Annual Inventive Plan (“AIP”) (annual cash incentive awards) with a target participation percentage of 75% of your base salary. AIP awards are based on Company and individual performance with metrics set by the Board. Actual payout amounts may be greater than or less than the target amount and will be limited to a maximum payout of 200% of the AIP target amount. You are eligible for a 2026 AIP award; however, it will be prorated based upon your Start Date.

You are eligible to participate in our annual Long-Term Incentive Plan (“LTIP”) (equity award program) with an anticipated target value of $1,000,000 annually. Currently, forty percent (40%) of the LTIP award for your position shall be allocated to restricted stock units (“RSU”) with one-third vesting annually over three years. The remaining sixty percent (60%) shall be allocated to performance stock units (“PSU”) with three-year cliff vesting. The LTIP target amount and allocation percentage, and the PSU performance measures are determined by the Board in its sole discretion and are subject to change. Based on the Company’s performance during the three-year performance period, actual shares vested for PSU awards may be greater than or less than the target amount and will be limited to a maximum of 200% of the PSU target amount.

You are eligible to participate in the CIC Plan as a Tier II Officer as such term is defined in the CIC Plan. As part of your on-boarding process, you will receive a participation agreement to which you will need to execute to become eligible. A copy of the CIC Plan is enclosed.

The Company offers a 401K Plan and will match dollar for dollar your contributions up to six percent (6%) of your base salary. You will be eligible for the 401K Plan after three months of employment.

Start Date:     Your start date will be April 27, 2026 or such other date to which you and the Board may mutually agree (“Start Date”).

Sign-on Equity:    As a material inducement for you to commence employment with the Company, you will be granted an RSU award and a PSU award with an aggregate fair value of approximately $1,000,000 and allocated forty percent (40%) to time-vested RSUs and sixty percent (60%) to performance-based PSUs (collectively, the “Inducement Awards”), subject to the terms of award agreements to be entered into between you and the Company. The Inducement Awards will be granted in accordance with Section 711(a) of the NYSE American Company Guide. The Inducement Awards will be granted outside of the Company’s 2021 Omnibus Incentive Plan (the “2021 Plan”) and will be in lieu of a 2026 LTIP award. The Inducement Awards will be granted within ten business days of your Start Date; provided, however, they will not be granted prior to the later of February 18, 2026 and the filing of a registration statement on Form S-8 covering the shares of the Company’s common stock underlying the Inducement Awards. The RSU Inducement Award will vest in three equal annual installments beginning on the first anniversary of the award date, subject to your continued employment with the Company and the terms of the award agreement. The PSU Inducement Award will vest pursuant to a three-year cliff-vesting schedule with the number of shares vesting based on the achievement of the performance metrics as determined by the Board, subject to your continued employment with the Company and the terms of the award agreement.

This offer is contingent upon your satisfactory completion of the required pre-employment procedures, including a background check, drug and alcohol screening and your providing evidence of your eligibility for employment as required by law (Form I-9).

Notwithstanding anything in this letter or any other communications to the contrary, the employment relationship between you and the Company shall at all times remain at-will, and this offer letter does not constitute an employment agreement. Accordingly, either you or the Company may terminate the employment relationship at any time for any reason with or without notice, except as prohibited by law. Likewise, the Company may withdraw this offer at any time prior to your acceptance.

Please confirm your acceptance of this offer by signing below. If you have any questions about this offer, please feel free to contact me at 432-682-7464. I look forward to having you join our team.

Sincerely,

/s/ Paul D. McKinney

Paul D. McKinney

Chairman and CEO

/s/ Sonu Johl

The Woodlands, TX – February 3, 2026 – Ring Energy, Inc. (NYSE American: REI) (“Ring” or the “Company”) today announced that Mr. Sundip (“Sonu”) Singh Johl will be joining the Company as its Executive Vice President, Chief Financial Officer and Treasurer effective February 27, 2026.

Mr. Johl brings more than 20 years of experience across upstream oil and gas investment banking, corporate finance, and strategic advisory roles, with deep expertise in mergers and acquisitions, capital markets, valuation, and financial strategy. From 2020 through January 2026, Mr. Johl was Managing Director, Co-Head of Energy Investment Banking at Raymond James & Associates, Inc., where he advised public and private E&P companies doing business in the Permian Basin as well as other major U.S. onshore basins. From 2018 to 2020, Mr. Johl was Managing Director, Co-Head of E&P at UBS Investment Banking Global Energy Group. From 2009 to 2018, Mr. Johl was a Director at Citi Investment Banking Global Energy Group. He has a Bachelor of Science degree in Electrical Engineering from San Jose State University and a Master of Business Administration degree from the Darden Graduate School of Business Administration at the University of Virginia.

Mr. Paul D. McKinney, Chairman of the Board and Chief Executive Officer, commented, “We are excited to welcome Sonu Johl to our executive management team. His many years of experience in upstream E&P banking, corporate finance and strategic advisory services for public energy producers will be invaluable to us as we continue our path toward building size and scale while creating value for our shareholders.” Mr. McKinney continued, “We have known and worked with Sonu for several years in his investment banking capacity and are confident he will leverage his knowledge and experience toward elevating Ring’s financial and capital markets business acumen. We look forward welcoming him to the Ring family.”

Ring Energy, Inc. is an oil and gas exploration, development, and production company with current operations focused on the development of its Permian Basin assets. For additional information, please visit www.ringenergy.com.

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements involve a wide variety of risks and uncertainties, and include, without limitation, statements with respect to the Company’s strategy and prospects, and the expected impact and timing of any new personnel or expected personnel transitions. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the Securities and Exchange Commission, including its Form 10-K for the fiscal year ended December 31, 2024, and its other filings. Ring undertakes no obligation to revise or update publicly any forward-looking statements, except as required by law.

Al Petrie Advisors

Al Petrie, Senior Partner

Phone: 281-975-2146

Email: apetrie@ringenergy.com