Magnolia Oil & Gas Overview High-quality, low-risk pure-play South Texas operator with core Eagle Ford and Austin Chalk positions acquired at Texas attractive entry costs Significant scale and PDP base generates material free cash…
Magnolias Consistent Business Model High Quality Assets Drive Low Capital Reinvestment Deliver Mid-Single Digit Long-Term Production Rate that Grows the Business Growth with Significant Free Cash Flow Limit Capital Spending to 55%…
Asset Overview
Giddings Area Assets Asset Overview 739,000 gross acres (549,000 net acres) with high working Texas interest (98% operated) 200,000 net acres in development Appraisal program outside of development area 2024 production averaged 67.9…
Core Karnes Assets Texas Asset Overview Mature asset offers significant free cash flow and a low base production decline Acreage located in the core of the Eagle Ford offering very strong economic returns in Karnes, Gonzales and…
Financial, Capital Allocation & Risk Management Overview
Cash Flow Allocation Matches Magnolias Business Model Allocation of Operating Cash Flow Since Inception Dividends & (7/31/2018 12/31/2024) Cash Build 10% Magnolias recipe is a disciplined allocation Drilling & Completions of…
Fourth Quarter & Full Year 2024 Earnings Presentation Low Leverage Drives Financial Flexibility 2.6 Net Debt / EBITDA (2025E) (1) Magnolia has one of the strongest balance sheets in the industry 1.7 1.5 1.5 1.4 1.3 1.3 1.2…
Low Reinvestment Rate with Strong Production Growth 4-Year Average Reinvestment Rate1 Production Growth Per Share1 (4-Year CAGR) 80% 25% 62% 63% 16% 60% 58% 56% 56% 13% 12% 51% 52% 52% 50% 46% 47% 8% 8% 8% 8% 45% 45% 45%…
High Pre-tax Operating Margins Operating Margin (1) (4-Year Average) 55% 51% Magnolia has consistently delivered one of the 49% highest operating margins relative to peers 46% 45% 42% 40% 40% 40% 39% High-quality asset base…
History of Top-Tier Return on Capital Employed Historical ROCE 26% Low reinvestment rate and 22% continued business model execution - low leverage, disciplined capital spending and high pre-tax margins are critical to sustaining…
Consistent & Sizable Cash Return to Shareholders Cumulative Return of Capital (MM) 1.6 Billion Returned to Shareholders 1,591 1,213 Magnolia has a strong track record of returning capital to shareholders 908 Returned 35% of…
History of Significant & Consistent Share Repurchases Magnolias Consistent Share Repurchases (1) 70 (million shares repurchased) 11.0 60 9.6 50 15.5 40 (72.9) 30 25.3 Magnolia has reduced its diluted 20 share count by…
Track Record of a Safe, Sustainable and Growing Dividend Dividend Payout Per Share CAGR Has Exceeded 16% Magnolias dividend has grown at a double-digit rate over the past 4 years 0.60 Sustainable dividend growth supported 0.52…
Business Risks Adequately Managed Level of Risk Acceptable to Magnolia Low Risk Moderate Risk Fully Exposed Risk Factor Geologic/Exploratory Political Cost Risk Reinvestment Commodity Financial 17
Summary Investment Highlights High Quality Assets Positioned for Success Leading position in the Giddings area with low breakevens and substantial running room Giddings Coveted position in the Karnes area in the core of the Eagle…
2025 Operating Plan & Guidance 2025E Production & Capital 2025E Capital First Quarter 2025 Guidance 20-25% Production Growth Production Karnes 94 Mboe/d 5%-7% YoY Total Growth; 75-80% Capital Budget Giddings D&C Capital…
Magnolias Commitment to Sustainability Safeguarding the 86% REDUCTION 12% REDUCTION 35% REDUCTION Environment Flaring Intensity Rate GHG Intensity Rate Hydrocarbon Spill Volume 2019 to 2023 2019 to 2023 2019 to 2023…
Appendix
2024 Cash Flow Reconciliation 1,400 11 17 107 1,200 165 1,000 273 In Millions 919 800 600 487 400 200 401 260 0 (5) (6) (1) (2) (3) (4) Cash Cash Flow Changes in Debt Dividends and Acquisitions Share DC&F…
Summary Balance Sheet (in thousands) December 31, 2024 December 31, 2023 Cash and cash equivalents 260,049 401,121 Other current assets 150,775 190,152 Property, plant and equipment, net 2,306,034 2,052,021 Other assets 103,977…
Fourth Quarter 2024 Capital Structure & Liquidity Overview Capital Structure Overview Capitalization & Liquidity (MM) Maintaining low financial leverage profile Capitalization Summary As of 12/31/2024 Currently have a net debt(1)…
Margins and Cost Structure For the Quarters Ended For the Years Ended / Boe, unless otherwise noted December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Revenue 38.13 41.06 40.08 40.83 Total Cash Operating Costs:…
Free Cash Flow Reconciliations For the Quarters Ended For the Years Ended (in thousands) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net cash provided by operating activities 222,627 246,882 920,850…
Adjusted EBITDAX Reconciliations For the Quarters Ended For the Years Ended (in thousands) December 31, December 31, December 31, December 31, 2024 2023 2024 2023 Net income 88,708 113,856 397,330 442,604 Interest expense, net 4,688…
Adjusted Net Income Reconciliation For the Quarters Ended For the Years Ended (in thousands) December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Net income 88,708 113,856 397,330 442,604 Adjustments: Impairment…
Return on Capital Employed For the Quarter Ended For the Years Ended (in thousands) December 31, 2024 December 31, 2024 December 31, 2023 December 31, 2022 December 31, 2021 December 31, 2020 December 31, 2019 Operating income (loss)…
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