Fourth Quarter & Full Year 2024 Earnings Presentation February 18, 2025 Christopher Stavros President & CEO Brian Corales Senior Vice President & CFO Tom Fitter Director, Investor Relations
Fourth Quarter & Full Year 2024 Earnings Presentation Highlights & Announcements Financial Operations Corporate 2024 total adjusted net income of 401 2024 production of 89.7 Mboe/d (9% annual Returned 378 million to million and…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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%…
Fourth Quarter & Full Year 2024 Earnings Presentation 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%…
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…
Fourth Quarter & Full Year 2024 Earnings Presentation History of Top-Tier Return on Capital Employed Historical ROCE 26% Low reinvestment rate and 22% continued business model execution - low leverage, disciplined capital…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation Key Fourth Quarter & Full Year 2024 Financial Metrics Metric Q4 2024 YoY % Change 2024 YoY % Change Total Production (Mboe/d) 93.1 9% 89.7 9% Oil Production (Mbbls/d) 38.8 9% 38.3…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation Oil & Gas Reserves Detail For the Years Ended (In thousands) Three Year Total December 31, 2024 December 31, 2023 December 31, 2022 Costs incurred: Proved property acquisition…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation Summary Investment Highlights High Quality Assets Positioned for Success Leading position in the Giddings area with low breakevens and substantial running room Giddings Coveted…
Appendix
Fourth Quarter & Full Year 2024 Earnings Presentation Magnolias Commitment to Sustainability Safeguarding the 86% REDUCTION 12% REDUCTION 35% REDUCTION Environment Flaring Intensity Rate GHG Intensity Rate Hydrocarbon Spill…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation Fourth Quarter 2024 Capital Structure & Liquidity Overview Capital Structure Overview Capitalization & Liquidity (MM) Maintaining low financial leverage profile Capitalization…
Fourth Quarter & Full Year 2024 Earnings Presentation 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…
Fourth Quarter & Full Year 2024 Earnings Presentation Oil & Gas Production Results Combined Karnes Giddings Combined Karnes Giddings For the Quarter Ended December 31, 2024 For the Quarter Ended December 31, 2023 Production: Oil…
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