Q1 2025 Earnings Presentation May 2025 NYSE: MNR machnr.com
Company Overview Mach Resources. All Rights Reserved. 3
About Us Company Overview TICKER UNIT MARKET ENTERPRISE EV / (EXCHANGE: NYSE) PRICE(1) CAP(1) VALUE(1) 2025e EBITDA MNR 13.49 1.6B 2.0B 3.3x Based on 2025e Consensus EBITDA of 606MM (Source: FactSet) LIQUIDITY LEVERAGE…
Our Four Pillars MAINTAIN FINANCIAL Focused on SUSTAINING FINANCIAL STRENGTH through all STRENGTH UNDERPINNED commodity cycles by maintaining a LOW NET DEBT TO ADJUSTED BY LOW LEVERAGE EBITDA RATIO of 1.0x or less Committed to…
Our Approach and Expertise Machs Expertise: Exploiting the Acquisition Opportunity Set and Delivering Robust Distributions Since its 2017 inception, Mach has closed 21 acquisitions totaling 2.0 billion, accumulated 2.1 million net…
Cash Return on Capital Invested Track Record Track Record of of Strong Strong CROCI CROCI through through Commodity Commodity Cycle Cycle Fluctuations Fluctuations Our LOW BASE DECLINE allows for LOW CAPITAL INTENSITY, allowing…
Mid-Con Basin Landscape Today NEW FOCUS ON ANADARKO Significant activity fall off during Pandemic, but STEADY RAMP UP SINCE 2022 REVIVAL IN ANADARKO BASIN driven by the increased interest in developing the condensate and dry gas…
We Are an Acquisition Company Mach: Adept at Adding Reserves via Low- Cost Acquisitions All assets to-date acquired at a DISCOUNT TO PDP PV-10 For the last five years, the Mid-Continent has provided the most attractive acquisition…
Asset Portfolio and History Mach Resources. All Rights Reserved. 10
Mach Evolution & Acquisition History 21 18 & 19 XTO W. Kansas & April 2025 2,500,000 Daily Production (MBOED) Ardmore 100 20 Sep & Oct 2024 14 & 15 Flycatcher Cumulative Net Acreage Jan 2025 Jun 2022 17 Acquisition and Date 13…
Evolution of Contiguous Mid-Con Footprint Focused on low-cost acquisitions that are accretive to FCF Drilling opportunities provide ability to maintain production EXPERIENCED IN ADDING LOW-COST RESERVES and FCF generation Experienced…
XTO Acquisition Overview Transaction Details Unadjusted Purchase Price: 60MM TOTAL NET ACREAGE TOTAL OPERATED WELLS Effective Date: May 1, 2025 990,000 1,400 Closing Date: April 30, 2025 Acquired Upstream Assets Assets span the…
Investment Highlights ATTRACTIVE OPPORTUNITY FOR YIELD-FOCUSED INVESTMENT LOW DECLINE & LOW REINVESTMENT PROVIDE STRONG CASH FLOW Our variable distribution structure offers flexibility over the long-term. Machs FY 2024 reinvestment rate…
Mach 2024 Drilling Program Results 225 Oswego wells turned-in-line since 2021 46 wellscombination of Oswego and Woodfordturned-in-line in 2024 with 35% achieving an IRR of 100% Wells have performed above expected type curve across…
Our Focus is Maximizing Cash Distributions History of Strong Cash Distributions Across Exposure to Commodity Prices Our cash distributions are variable and sensitive to commodity prices. Commodity Cycles The price sensitivities below…
Mach 19% SandRidge TXO Diversified Energy Black Stone Vitesse Evolution Petroleum Berry 2024 Realized Distribution Yield Equinor Granite Ridge Civitas Sitio Chord Riley Diamondback Repsol Permian Resources BP…
Texas Pacific Land Comstock Resources Sable Offshore Antero Gulfport Expand Diversified Energy PHX Vitesse Total 2024 Shareholder Return (TSR) Mach 24% Riley EQT Range Granite Ridge Crescent Energy…
Compelling Investment Thesis TOP COMMITTED TO FOCUSED OPERATOR DISCIPLINED ON IN MIDCON REINVESTMENT RETURN OF CAPITAL 1 st Highest ranking Operator in 47% 310MM FY2024 reinvestment rate Cash Distributed MidCon, based on gross…
Appendix Mach Resources. All Rights Reserved. 20
Mach Debt Profile 452MM 293MM 0.7x NET DEBT(1) LIQUIDITY (2) NET DEBT / LTM ADJ. EBITDA(3) RBL Summary 750MM 460MM DRAWN with 750MM BORROWING BASE 290 Interest rate: SOFR (+) 300bps 400bps Bank group includes ten lenders, led…
Q1 2025 Financial Info. and Non-GAAP Reconciliations (1,2,3) 1) Adjusted EBITDA is a non-GAAP financial performance measure. We define Adjusted EBITDA as net income before (1) interest expense, net, (2) depreciation, depletion,…
Q1 2025 Results Q1 2025 Actual Full-Year 2025 Guidance First Quarter 2025 Highlights Total Net Production 80.9 79 - 83 (MBoe/d) Delivered total net production of 80.9 MBOED Oil Production 19.6 18 - 19 (MBbls/d) Lease operating…
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