Cautionary Statement Regarding Forward-Looking Statements This presentation is for informational purposes only. This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase…
Company Snapshot Key Statistics Sustainable Organic Royalty in millions Production Growth Market Cap1 151.7 Enterprise Value2,10 179.0 Liquidity3,10 27.1 Dividend Yield4 4.0% Leverage5,10 1.38x MMCFE LTM Adjusted EBITDA6…
Strategy Execution Goals Set in early 2020 Achievements Through Dec. 31, 2024 High Grade Asset Base Royalty production volumes up 278% Grow royalty production 2P royalty reserves up 130% Increase inventory of undeveloped Completed 139…
Focused in SCOOP and Haynesville Key Operators of PHX Minerals Gross Active Rigs by Play1 SCOOP 19 Haynesville 27 PHX targets areas in key plays with significant active operator development activity Provides line of sight to…
Royalty Cash Flow Driving Shareholder Value Royalty Production and Realized Natural Gas Price Adjusted EBITDA1 in millions 10 8.00 8.4 7.7 7.00 8 7.2 6.3 6.4 6.00 5.8 5.4 6 5.0 5.3 5.00 4.6 4.9 4.4 4.1 4.00 3.6 4.2 4.5 4 2.8…
Royalty Interest Inventory by Basin Continuous conversion of undrilled location inventory will drive future royalty volume growth Undeveloped Locations1 Gross Net PDP Sub-region PDP Gross Net Wells Gross Net Net Wells1,3,6 Gross…
Analyst Coverage Firm Analyst Contact Johnson Rice Charles Meade cmeadejrco.com Alliance Global Partners Jeff Grampp jgramppallianceg.com Texas Capital Derrick Whitfield derrick.whitfieldtexascapital.com 12
Appendix 13
Company Leadership Management Team Title Years with Company Experience CEO for PHX since 2019 President, CEO and Chad Stephens 6 SVP Corporate Development of Range Resources for 30 years until retiring in 2018 Board Director B.A. in…
Portfolio Overview by Basin Scoop Haynesville Bakken Stack Arkoma Fayetteville Other Total Production Mix 8% 5% 11% 25% 21% 29% 8% 35% 50% 54% 29% 63% 15% 64% 21% 81% 15% 100% 95% 100% Net Production (MMcfe/d)1,3 4.16 14.19…
Texas / Louisiana Haynesville Update Operators are drilling 3-5 wells per unit, and a positive indication of near term volumes and cashflows Since 2019, core development areas have been extended as new completion designs have lowered…
South Texas Haynesville Update Operators are drilling 3-5 wells per unit, and a positive indication of near term volumes and cashflows Since 2019, core development areas have been extended as new completion designs have lowered…
Springboard III Update Highest resource in-place per DSU in the midcontinent, co-developing the Mississippian Sycamore & Woodford Shale Operators starting to infill existing DSUs; Early results suggest very little to no Parent-Child…
STACK MERGE SCOOP The SCOOP is the premier play in Oklahoma with the highest resource in-place and most horizontal objectives The transition between the SCOOP and STACK is the MERGE where the thickness prevents stacked development The…
Robust Acquisition Process PHX believes that being the aggregator of choice in our core areas is a key component of our strategy Royalties, just like any other hydrocarbon asset class, are naturally depleting assets and reinvestment…
Acquisition Summary Acquisitions by Basin by Year (in thousands) 50,000 46,730 Focused on highest quality rock in the SCOOP and 40,000 37,345 Haynesville plays 30,341 Targeting a mix of 30,000 production, near term development…
Acquisition History 1 1 All acreage currently owned in the Haynesville and predominately all acreage currently owned in Springboard III area of interest was acquired under current management teams guidance Source:…
Natural Gas Continued Demand Growth Natural Gas Electrical Generation1 Natural gas demand from power generation continues to increase and dominate the power stack; increase in solar and wind are coming at the expense of coal 20…
Natural Gas Surging LNG Demand Forecasted U.S. Export Annual Volume Growth1 Large Scale Approved Liquefaction Facilities 1 Project Name Bcf/d Project Name Bcf/d Operational Approved Sabine Pass Trains 1-6 3.6 Cameron LNG Train 4…
Current Hedge Position Gas Swaps Gas Collars Total Gas Protection Volume Price Volume Floor Ceiling Volume 1Q'25 330,000 3.86 640,000 3.27 4.83 970,000 2Q'25 735,000 3.14 255,000 3.00 4.19 990,000 3Q'25 785,000 3.15 165,000 3.00…
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