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  Economics : Break-Even

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2021 Program: 1 Billion FCF for 1 Billion of Capex Fully consistent with reinvestment rate capital allocation framework 2021 capital program of 1B delivers strong financial and operational outcomes 2021 Free Cash Flow Sensitivity 1,600 80% 1B of FCF1 at 50/bbl WTI with 50% reinvestment rate1 Corporate FCF breakeven below 35/bbl WTI Free Cash Flow (MM) Before Dividend 70% 1,200 500MM of targeted gross debt reduction Reinvestment Rate GHG intensity reduction2 of 30% vs. 2019 60% Total oil flat vs. 4Q20 exit rate 800 90% of capex to Bakken and Eagle Ford, 50% industrys most capital efficient Basins Total of 5 to 6 rigs and 2 frac crews 400 40% Bakken: 60 to 80 wells to sales in 2021 Eagle Ford: 100 to 130 wells to sales in 2021 0 30% Oklahoma: 5 DUCs online 2H21 2021 FCF 2021 FCF 2021 FCF 2021 FCF 45/bbl, 50/bbl, 55/bbl, 60/bbl, Continued progression of Texas Delaware oil play 2.50/HH 3.00/HH 3.00/HH 3.00/HH Total FCF Reinvestment Rate 1 1.0B of expected 2021 FCF at 50/bbl WTI and 3.00/MMBtu comprised of approximately 2.0B of net cash provided by operating activities adjusted for working capital, EG LNG return of capital, and other less approximately 1.0B of capital expenditures; 1.0B of capital expenditures divided by approximately 2.0B of net cash provided by operating activities adjusting for working capital, EG LNG return of capital and other equates to a reinvestment rate of approximately 50% 6 2 Greenhouse Gas (GHG) intensity: as measured by metric tonnes carbon dioxide equivalent (CO2e) emissions per thousand barrels of oil equivalent of hydrocarbons produced from Marathon Oil-operated facilities
Marathon Oil Corp
February 2021

Appendix 1. Anadarko Basin Acronyms 2. Corporate Structure 3. Black Mesa Production, LLC 4. Single Well Breakeven Prices 5. Notes 6. Glossary brookside-energy.com.au 13
Brookside Energy Limited
July 2019

Highly Economic Mineral Portfolio RSEG Half Cycle Breakeven for Major North American Plays High breakeven and Low IRR Low breakeven and High IRR % of Brighams NRA(1) 10% 13% 14% 22% 28% 5% Greater than 90% of portfolio has weighted average break-even of 38 per bbl Source: RSEG. (1) Excludes net royalty interest owned in Carter and Love counties, Oklahoma (Extended Woodford play in Marietta and Ardmore Basins). Page 7 MNRL
Brigham Minerals Inc.
May 2019

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