@NFX is periodically published to keep stockholders aware of current operating activities at Newfield. It may include estimates of expected production volumes, costs and expenses, recent changes to hedging positions and commodity pricing.

Prepared to Win, AgainJefferies 2016 Energy ConferenceNovember 29-30, 2016Houston, Texas

2016—Priorities and YTD Actions

Priorities Actions

4

Maintain strong balance sheet

HBP STACK leasehold

Enhance returns, move STACK to full-field development

Sell non-core assets

3

2

1Reduced capex, high graded investments, cut costs & expenses

Active drilling substantially holds legacy acreage by production at YE16

Reduced cash costs across enterprise, initiated STACK infill pilots, acquired bolt-on opportunity

Sold Eagle Ford and South Texas assets for ~$380MM

2

So, Why own Newfield today?

3

Track Record: Did it…can do it again

– Weathered commodity price cycles

– History of finding and developing valuable plays

– Proven operator

Asset Quality

– The Anadarko Basin provides premium returns TODAY

– Development mode lies ahead… efficiency improvements apparent

Inventory Depth

– Thousands of quality drilling locations

Financial Strength

– Record of financial discipline

2017—Preparing to Win

4

Maintain strong balance sheet

– Use cash on hand to accelerate – adding SCOOP/STACK rigs late 2016/early 2017

– Maintain strong coverage ratios

– Maintain “options” in period of commodity price uncertainty

Continue to high-grade capital investments

– Anadarko Basin to receive lion’s share of capital

Rapidly advance Anadarko Basin developments

– Optimize STACK completions; achieve additional drilling efficiencies

– Integrate “real-time” data into development plan

What’s New at Newfield?

Raised production guidance throughout ‘16

– Expect to beat original guidance by ~3.5 MMBOE, or seven percent

– Full-year capital investment plan: $750 million

Continued to reduce LOE and G&A

– >$50 million compared to 2014

– Domestic LOE/BOE to be down >20% YOY

Sold $380 million in non-strategic assets; Acquired additional acreage in STACK

Increased rig count in Anadarko Basin entering 2017

Delivering strong well results via spacing pilots and continued completion optimization

5

Geneses of the STACK

2010 2011 2012 2013 2014 2015 2016e

Anadarko Basin Net Acreage (000’s)

125

225

295315

350+Oper Well Name IP 1st Prod. Formation

NFX Blevins 3H-9 462 MCFED 2005 Woodford Arkoma Hz Gas Disc.

NFX Norfleet 1H-4W 1,018 MBOED 2009 Woodford Arkoma Hz Oil Disc.

CLR Lambakis 1-11H 5.1 MMCFED 2011 Woodford SCOOP Hz Gas Disc.

NFX Rock Island 1H-14 329 BOED 2011 Woodford STACK Hz Oil Disc.

NFX Faith 1H-12 4.5 MMCFED 2012 Woodford 1st NFX SCOOP Hz

NFX State 1H-16 618 BOED 2012 Meramec STACK Hz Oil Disc.

Newfield - Rock Island 1 – lithology & oil shows4

2

3

4

5

6

1

6

2

1

4

53

2005NFX Blevins 3H-9

Arkoma Hz Gas Disc.

2009NFX Norfleet 1H-4WArkoma Hz Oil Disc.

2011CLR Lambakis 1-11HSCOOP Hz Gas Disc.

2011NFX Rock Island 1H-14

STACK Hz Oil Disc.

2012NFX Faith 1H-12

1st NFX SCOOP Hz

2012NFX State 1H-16

STACK Hz Oil Disc.

2008 DVN Cana Hz Gas Disc.

100

30

6

SCOOP/STACK Offer Optionality Across Position

Newfield dominant position overlaps extensive liquids window

EW

NESW

Crude API 60 40

Crude API 60 40

W

E

SW

NE

7

STACK Meramec

Shale

STACK Woodford

Shale

SCOOP Woodford

Williston Bakken

Eagle Ford Shale

Thickness 275-475’ 75-200’ 150-300’ 15-145’ 40-500’

Porosity 3-6% 3-7% 3-10% 2-12% 3-15%

Newfield STACK Position (60 Miles)

HUNTON

CHESTER SHALE

OSAGE

MISSISSIPPIAN

Upper

Lower

SYLVAN

A A’

Regional Top SealCHLOUBER

LUDWIG /RAPTOREX /DOROTHY

WOODFORD SHALESource Rocks

MERAMEC SHALEReservoir

Spacing Pilot Programs

~70

0’ O

il Sa

tura

ted

Inte

rval

A

A’Newfield Acreage

Index Map

STACK Petroleum System

Recent Activity Moves to Liquids-Rich STACK

9

State1H-16

Rock Island 1H-14

Initial 2008 discovery

Woodford is the primary source rock in Oklahoma; extensive industry history

Industry has rapidly transitioned from dry gas Cana Woodford northeast into liquids-rich STACK

Recent, rapid delineation of STACK—consistent and strong well performance across hydrocarbon windows

Pre-2013

2013/2014

2015-current

Newfield Operated

Newfield net acreage

Olive Lee 1H-22 (XL)

IP30: 1,798 boepd (17% oil)

JR Barton 1H-28X (SXL)

IP30*: 1,480 boepd (76% oil)

Boden 1-15-10XH (SXL)

IP24: 3,508 boepd (29% oil)

Clayton 1H-0904X (SXL)

IP30*: 3,180 boepd (15% oil)

Deep River 30-1MH (XL)

IP30: 956 boepd (68% oil)

Post Brothers 1H-27X (SXL)

IP30*: 1,701 boepd (51% oil)

James 1H-2X (SXL)

IP30*: 2,166 boepd (69% oil)

FSB 1H-26X (SXL)

IP30*: 1,608 boepd (69% oil)

Hufnagel 1H-33X (SXL)

IP30*: 1,160 boepd (62% oil)

Redhead 1H-9XX (SXL)

IP30*: 1,287 boepd (80% oil)

Robinson-Payday16-1H (XL)

IP24: 910 boepd (55% oil)

Scheffler 1H-9X (SXL)

IP30*: 1,843 boepd (77% oil)

Yocum 1-35-26XH (SXL)

IP24*: 2,535 boepd (1% oil)

Atteberry NE 1-27-34XH (SXL)

IP24*: 3,250 boepd (0% oil)

Frankie Jo 1-25-24XH (SXL)

IP30*: 2,627 boepd (56% oil)

Madeline 1-9-4XH (SXL)

IP24*: 3,538 boepd (71% oil)

Castonguay 14-16-10 1H (SXL)

IP30*: 1,249 boepd (87% oil)

Dorothy 1H32 (XL)

IP30*: 1,175 boepd (87% oil)

Sims 1H-2017X (SXL)

IP30*: 2,133 boepd (29% oil)

Moeller 1408 1-21MH (XL)

IP30*: 1,365 boepd (47% oil)

Gill 1H-4X (SXL)

IP30*: 1,408 boepd (64% oil)

Raptorex 8-16-9 1H (SXL)

IP30*: 1,203 boepd (80% oil)

Rodenburg 1H-6X (SXL)

IP30*: 1,563 boepd (61% oil)

Harrison 1H-29X (SXL)

IP30*: 1,437 boepd (82% oil)

Post 1706 1-30MH (XL)

IP30*: 780 boepd (51% oil)

Ruzek 1H-3X (SXL)

IP30*: 1,164 boepd (75% oil)

Edgar 1H-18X (SXL)

IP24*: 1,162 boepd (82% oil)

Alphons 1H-29X (SXL)

IP24*: 1,178 boepd (94% oil)

Alta Mesa / CHK

Miss/Oswego

Emerging

Miss/WDFD “Merge”

Osage delineation

Newfield Operated Wells

STACK Delineated by Top-Tier Performance Across Large Footprint

10

Newfield “Legacy” Acreage Delineated and Ready for Development

Top-tier Newfield well performance has successfully delineated acreage position

Contiguous, “blocky” acreage is ideal for efficient development

Substantially HBP, High working interest (~65%)

2017 program

– Primarily development drilling

– Application of completion best practices

– Pursue additional reservoir targets

– Drive improved cost structure through operational control and infrastructure

11

Ruzek 1H-3X (SXL)

IP30*: 1,164 boepd (75% oil)

Post Brothers 1H-27X (SXL)

IP30*: 1,701 boepd (51% oil)

James 1H-2X (SXL)

IP30*: 2,166 boepd (69% oil)

Alphons 1H-29X (SXL)

IP24*: 1,178 boepd (94% oil)

FSB 1H-26X (SXL)

IP30*: 1,608 boepd (69% oil)

Hufnagel 1H-33X (SXL)

IP30*: 1,160 boepd (62% oil)

Rodenburg 1H-6X (SXL)

IP30*: 1,563 boepd (61% oil)

Dorothy 1H32 (XL)

IP30*: 1,175 boepd (87% oil)

Castonguay 14-16-10 1H (SXL)

IP30*: 1,249 boepd (87% oil)

Scheffler 1H-9X (SXL)

IP30*: 1,843 boepd (77% oil)

Raptorex 8-16-9 1H (SXL)

IP30*: 1,203 boepd (80% oil)

JR Barton 1H-28X (SXL)

IP30*: 1,480 boepd (76% oil)

Harrison 1H-29X (SXL)

IP30*: 1,437 boepd (82% oil)

~40 miles

0

20

40

60

80

100

2011 2012 2013 2014 2015 2016

MB

OEP

DNewfield: Strong Record of Growth in Anadarko Basin

Oil Production

Gas Production

NGL Production

3Q16 average net production: 93,402 BOEPD (61% liquids)

12

39

31

25

21

17

8

0

5

10

15

20

25

30

35

40

2012 2013 2014 2015 YTD 2016 BIC

Day

s to

TD

STACK Operational Improvements Enhance Returns

0

500

1,000

1,500

2,000

2,500

2012 2013 2014 2015 2016 NFXCurrentDesign

Fluid (lbs/ft) Proppant (gal/ft)

Newfield Drilling Evolution (10,000’ lateral length) 1 Industry Completions Evolution 2

13

1 Wells drilled from mid-2015 forward are “drill out to TD” due to presetting surface casing2 From available public data

Rig(s) Wells Month 1 Month 2 Month 3 Month 4

1HBP

Parent well

411

Infill Wells

DrillPrep Complete POP

DrillPrep Complete POP

TIMELINE—XL

Preparing for Full Field Development

~700’ of section could allow for up to 30 development wells per DSU

Testing tighter vertical and lateral well spacing– 60 – 250 feet vertically, 660 – 1,050 feet laterally

– Up to 4 layers in Meramec, additional in Osage and Woodford

Execution– Multiple rigs and frac spreads per

DSU to accelerate operations; 3 – 4 wells per pad initially

– Development timeline yields focused efficiency gains; stages high-volume production year 1 of development

Pad efficiencies– Rig moves reduced to hours, not days

– Zipper fracs shorten completion time

– Shared infrastructure—pipelines, facilities Sample Pilot

Bennington Hub

ARKOMA

STACKOil gathered &

piped to Cushing; gas gathered & processed by

MarkWest

SCOOPGas

gathered & processed

by DCP

OIL ON PIPE FROM CASHION TO CUSHING

NGLS TO CONWAY

NGLS TO MT. BELVIEU

ANR, EGT, NGPL, PEPL ANR, Enable,

NGPL, OGT, PEPL, S. Star

Newfield Marketing Adds Differential Value

Quality product: 400 – 600 API

Premium realized prices, accessing preferred markets

Ample takeaway capacity

Partnered with DCP in SCOOP

– NGLs sold to Mont Belvieu

Partnered with MarkWest in STACK

– Oil gathered and piped to Cushing to realize premium for 42⁰ barrel

– NGLs sold into Conway

New, significant residue gas takeaway options being negotiated by industry

– 2019 expected completion

15

Key Takeaways

SCOOP and STACK are premier plays

– Delineated and benefitting from multiple industry partners

– Consistent and exciting results across vast area

– Price resilient at low commodity prices, “top-tier” industry returns today

Development mode to unlock efficiencies

– Early results on infill drilling and enhanced completions are encouraging

– Pad developments to lower F&D costs, increase returns and enhanced value creation

Expanding deep, high-quality drilling inventory

Hydrocarbon diversity across the basin

Anadarko Basin capable of driving Newfield production and reserve growth for decades

Newfield has dominant acreage position across the oil window

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Forward looking statements and related matters

This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended. The words “may,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “project,” “target,” “goal,” “plan,” “should,” “will,”“predict,” “guidance,” “potential” or other similar expressions are intended to identify forward-looking statements. Other than historical facts included in thispresentation, all information and statements, including but not limited to information regarding planned capital expenditures, estimated reserves, estimatedproduction targets, drilling and development plans, the timing of production, planned capital expenditures, and other plans and objectives for future operations, areforward-looking statements. Although, as of the date of this presentation, Newfield believes that these expectations are reasonable, this information is based uponassumptions and anticipated results that are subject to numerous uncertainties and risks. Actual results may vary significantly from those anticipated due to manyfactors, including but not limited to commodity prices, drilling results, our liquidity and the availability of capital resources, operating risks, industry conditions, Chinaand U.S. governmental regulations, financial counterparty risks, the prices of goods and services, the availability of drilling rigs and other support services, our ability tomonetize assets and repay or refinance our existing indebtedness, labor conditions, severe weather conditions, and other operating risks. Please see Newfield’s 2015Annual Report on Form 10-K and subsequent public filings, all filed with the U.S. Securities and Exchange Commission (SEC), for a discussion of other factors that maycause actual results to vary. Unpredictable or unknown factors not discussed herein or in Newfield’s SEC filings could also have material adverse effects on actualresults. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this presentation. Unless legally required,Newfield undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This presentation has been prepared by Newfield and includes market data and other statistical information from sources believed by Newfield to be reliable, includingindependent industry publications, government publications or other published independent sources. Some data are also based on Newfield’s good faith estimates,which are derived from its review of internal sources as well as the independent sources described above. Although Newfield believes these sources are reliable, it hasnot independently verified the information and cannot guarantee its accuracy and completeness.

Actual quantities that may be ultimately recovered from Newfield’s interests may differ substantially from the estimates in this presentation. Factors affecting ultimaterecovery include the scope of Newfield’s ongoing drilling program, which will be directly affected by commodity prices, the availability of capital, drilling andproduction costs, availability of drilling services and equipment, drilling results, lease expirations, transportation constraints, regulatory approvals and other factors,and actual drilling results, including geological and mechanical factors affecting recovery rates. Newfield may use terms in this presentation, such as “EURs”, “upsidepotential”, “net unrisked resource”, “gross EURs”, and similar terms that the SEC’s guidelines strictly prohibit in SEC filings. These terms include reserves withsubstantially less certainty than proved reserves, and no discount or other adjustment is included in the presentation of such reserve numbers. Investors are urged toconsider closely the oil and gas disclosures in Newfield’s 2015 Annual Report on Form 10-K and subsequent public filings, available at www.newfield.com, www.sec.govor by writing Newfield at 4 Waterway Square Place, Suite 100, The Woodlands, Texas 77380 Attn: Investor Relations.

In addition, this presentation contains non-GAAP financial measures, which include, but are not limited to, Adjusted EBITDA. Newfield defines EBITDA as net (loss)income before income tax (benefit) expense, interest expense and depreciation, depletion and amortization. Adjusted EBITDA, as presented herein, is EBITDA beforeceiling test impairments, gains on asset sales, non-cash compensation expense and net unrealized (gains) / losses on commodity derivatives. Adjusted EBITDA is not arecognized term under GAAP and does not represent net income as defined under GAAP, and should not be considered an alternatives to net income as an indicator ofoperating performance or to cash flows as a measure of liquidity. Adjusted EBITDA is a supplemental financial measure used by Newfield’s management and bysecurities analysts, lenders, ratings agencies and others who follow the industry as an indicator of Newfield’s ability to internally fund exploration and developmentactivities.

17