Q2 2025 Earnings Presentation August 2025 NYSE: MNR machnr.com
Disclaimer and Forward-Looking Statements This presentation is being provided by Mach Natural Resources LP (the Company) for informational purposes only. No persons have been authorized to make any representations regarding the…
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 15.05 1.8B 2.3B 4.0x Based on 2025e Consensus EBITDA of 614MM (Source: FactSet) LIQUIDITY LEVERAGE…
Our Four Pillars MAINTAIN FINANCIAL DISCIPLINED EXECUTION DISCIPLINED MAXIMIZE CASH STRENGTH UNDERPINNED WITH ACCRETIVE REINVESTMENT DISTRIBUTIONS TO EQUITY BY LOW LEVERAGE ACQUISITIONS RATE HOLDERS Focused on SUSTAINING…
We Are an Acquisition Company We are Adept at Adding Reserves Mach Assets via Low-Cost Acquisitions NEW Assets (expected to close Q3 2025) All assets to-date acquired at a DISCOUNT TO PDP PV-10 STANDALONE MACH: Historically, the…
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…
Mach 18% TXO Diversified SandRidge Black Stone Through 6/30/2025 Vitesse Evolution Granite Ridge Sitio Berry TotalEnergies Civitas Realized Distribution Yield Since 2024 Riley Repsol Equinor BP Chord Permian…
Comstock Texas Pacific Land Sable Antero Expand EQT Gulfport Range Through 6/30/2025 Diversified Granite Ridge Vitesse Mach 15% TSR Exxon Shell SINCE 2024 Magnolia Permian Resources Total Shareholder Return…
Business Built to Support Meaningful Cash Distributions 66 Publicly listed Royalties, Conventional and Unconventional operators 24 Market Cap between 1B - 10B ccc with primary U.S. operations(1) 10 LTM net…
Asset Portfolio and History Mach Resources. All Rights Reserved. 11
Mach Evolution & Acquisition History 3.0 150 Net Daily Production Net Acreage 2.5 22 & 23 125 21 Acquisition IKAV AND SABINAL XTO Q3 2025 April 2025 Public Offering 18 & 19 20 2.0 W. KS & Ardmore Flycatcher 100 Net Daily…
Evolution of Contiguous Mid-Con Position Leading Mid-Continent Position Drilling opportunities provide ability to maintain Mach has more than doubled its net acres over the last two years. production and FCF generation Mach has immense…
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…
Acquisitions Deliver Significant CAD Accretion Mach is entering into TWO SEPARATE DEFINITIVE AGREEMENTS to purchase oil and gas assets which will ENHANCE SCALE AND ADD 1 IKAV San Juan STRATEGIC MULTI-BASIN POSITIONING. Purchase Price…
Accretive Across Key Metrics Key Financial and Operational Metrics for Measuring Accretion Metric Accretive Commentary CAD Significantly accretive to distributable cash flow Enhances Transaction consideration maintains financial…
Delivering on Machs Core Strategic Pillars Description of Strategic Pillars Application to Transactions MAINTAIN FINANCIAL REINFORCES COMMITMENT to Focused on SUSTAINING FINANCIAL STRENGTH strong balance sheet by funding STRENGTH…
Machs Development Activity Targets 50% Returns Mach 2024 Drilling Program Results Overview 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%…
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…
Compelling Investment Thesis TOP COMMITTED TO FOCUSED OPERATOR DISCIPLINED ON IN MIDCON REINVESTMENT RETURN OF CAPITAL 1st Highest ranking Operator in 45% 153MM YTD2025 reinvestment rate Cash Distributed MidCon, based on gross…
Appendix Mach Resources. All Rights Reserved. 21
Mach Debt Profile 551MM 194MM 0.9x NET DEBT(1) LIQUIDITY (2) NET DEBT / LTM ADJ. EBITDA(3) RBL Summary 750MM 565MM DRAWN with 750MM BORROWING BASE 185 Interest rate: SOFR (+) 300bps 400bps Bank group includes ten lenders, led…
Q2 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,…
YTD 2025 Financial Info. and Non-GAAP Reconciliations (1) (1,2,3) 1) Six months ended June 30, 2025. 2) Adjusted EBITDA is a non-GAAP financial performance measure. We define Adjusted EBITDA as net income before (1) interest…
Hedge Summary as of August 1, 2025 2025 2026 2027 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 NYMEX Swaps Natural Gas (HH): Hedged Volume (MMBtu) 10,782 10,308 9,896 9,532 4,602 4,453 4,316 4,190 Weighted Average Swap Price (/MMBtu) 3.58 4.03 4.03…
Q2 2025 Results Q2 2025 Actual Full-Year 2025 Guidance Second Quarter 2025 Highlights Total Net Production 83.6 79 - 83 (MBoe/d) Averaged total net production of 83.6 MBOED Oil Production 19.3 18 - 19 (MBbls/d) Produced an average…
2025 Guidance Full-Year 2025e Oil (MBbls/d) 18 19 NGLs (MBbls/d) 18 19 Net Production Natural Gas (MMcf/d) 256 269 Total (MBoe/d) 79 83 Oil (differential to NYMEX WTI) ( / Bbl) (1.50) - (0.50) Price Realizations NGLs (% of WTI)…
Machs Commitment to ESG Initiatives Multifaceted system with direct lines of communication from Environmental, Health and Safety (EH&S) personnel up through EVP of Operations Mach EH&S Function Team currently consists of an EH&S VP,…
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