Evolution Petroleum Corporation, Inc. · AMEX:EPM
Evolution Petroleum — Investor Presentation (March 2025)
24 slides from Evolution Petroleum's investor presentation, March 2025
Slide 1: Evolution Petroleum Corporation Investor Presentation
EVOLUTION PETROLEUM CORPORATION INVESTOR PRESENTATION MARCH 2025 | NYSE American: EPM
Slide 2: Disclaimers
Disclaimers This presentation is for information purposes only and does not constitute an offer to sell or issue, or the solicitation of an offer to buy, acquire or subscribe for any shares in the Company in any jurisdiction. FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking sta
Slide 3: Evolution Petroleum (EPM) Overview
WHO WE ARE Evolution Petroleum (EPM) Overview 10+ Year Dividend History EPM is an independent energy company focused on maximizing returns to shareholders through the ownership What We Do of onshore oil and natural gas properties, utilizing a non- $126.6 Million operated business model. { } Dividend
Slide 4: Non-Operated Business Model
Non-Operated Business Model Simple Structure Lean Operations • Lower-risk investment vehicle in the energy • Efficient team of ~10 people primarily engaged in industry management tasks • Own working interests and royalty interests providing a • No field operations staff needed; field work proportion
Slide 5: Evolution's Footprint
ACCRETIVE ACQUISITIONS HAVE SIGNIFCANTLY EXPANDED OUR NETWORK Evolution’s Footprint Asset locations Williston Basin Hamilton Dome ~42,200 Net Acres ~1,400 Net Acres (Acquired Jan'22) (Acquired Nov ‘19) ND Jonah Field WY ~950 Net Acres (Acquired Apr'22) SCOOP/STACK ~4,200 Net Acres OK (Acquired Feb'2
Slide 6: Diversified & Balanced Portfolio of Assets
Diversified & Balanced Portfolio of Assets 13% 22% 37% Oil FY‘24 Oil FQ2'25 31.8 $20.3 MM Nat Gas Proved Nat Gas Revenue 29% 58% Reserves(1)(2) MMBOE { } NGLs NGLs 41% 16% 15% 13% SCOOP/STACK 28% 7% Chaveroo 7% FQ2'25 Oil FY’24 Proved 6,935 31.8 Jonah Average Daily Nat Gas Reserves by Williston Basi
Slide 7: Market Trends: Growing Demand in both the U.S. and Abroad
Market Trends: Growing Demand in both the U.S. and Abroad Data center demand becoming the cornerstone to natural gas bull case U.S. LNG Export Build Out Material U.S. gas-power demand and load growth Data centers/AI, continued coal-to-gas Bcf/d Wave 2 LNG switching and electric vehicles driving Buil
Slide 8: Natural Gas Price Volatility
Natural Gas Price Volatility Inadequate natural gas storage will amplify price volatility Lack of storage capacity relative to demand, limited coal switching ability and renewable intermittency further drive price volatility U.S. gas storage: days of LTM demand cover Storage expressed in days’ deman
Slide 9: Business & Portfolio Investment Strategy
Business & Portfolio Investment Strategy Our core pillars to maximizing shareholder return Asset based Return capital to Minimize growth shareholders debt Accretive & cyclically Sustainable Maintain strong balance opportunistic acquisitions dividends sheet Organic growth via new Opportunistic share
Slide 10: Disciplined Asset Based Growth
Disciplined Asset Based Growth Focused on finding the best incremental IRR for our portfolio that complements existing assets Long-life reserves Supportive of with value dominated Highly accretive to Reasonable market continued Efficient operations Includes unvalued by cash flow cash flow & access l
Slide 11: Proven Track Record of Value-Driven Producing Acquisitions
Disciplined Growth with Incremental IRR: Complementing and Enhancing Portfolio Assets Proven Track Record of Value-Driven Producing Acquisitions Acquisition Program Currently Delivering >100% IRR and ~3.0x MOIC1 Acquisition Cash Outflow Cumulative Operating Cashflow $160,000 $140,000 SCOOP/STACK $12
Slide 12: Production Growth
SUCCESS BUILDING DAILY BARRELS THROUGH ACQUISITIONS Production Growth Our Daily Barrels have increased ~3x since 2019 via accretive acquisitions TexMex Pending Acquisition of TexMex Feb'251 Chaveroo First Production in Chaveroo Field Feb'24 SCOOP/ Acquisition of STACK SCOOP/STACK Feb'24 Jonah Acquis
Slide 13: 10+ Year History of Issuing Dividends
CONSISTENTLY RETURNING CAPITAL TO SHAREHOLDERS THROUGH COMMODITY CYCLES 10+ Year History of Issuing Dividends Common Stock Dividends ($) Annualized Dividend Yield (%) 15.3% 9.1% 9.2% 8.3% 9.5% 7.6% 9.0% 7.3% 7.0% 6.4% 7.8% 5.9% 7.3% 5.9% 5.6% 6.9% 5.4% 6.8% 5.0% 5.9% 4.5% 5.9% 5.9% 4.2% 4.2% 3.6% 4.
Slide 14: Consistently Minimizing Debt & Equity Dilution Despite Material Growth
EVOLUTION’S GROWTH STORY Consistently Minimizing Debt & Equity Dilution Despite Material Growth 33.1 33.2 33.0 33.5 33.5 33.2 33.3 7,104 6,790 5,953 2,430 2,042 2,025 2,034 1.1x 0.0x 0.0x 0.0x 0.0x 0.2x 0.0x FY '18 FY '19 FY '20 FY '21 FY '22 FY '23 FY '24 (1) (2) (3) Daily Production (BOEPD) Shares
Slide 15: Key Takeaways
Key Takeaways High Quality Assets Provide Years of Dividend Coverage • Long-life, low decline, 15+ year reserve life • Positive free cash flow throughout commodity cycle(1) Attractive Dividend Supports Total Shareholder Return • Consecutively paid dividends since 2013 • Currently ~9.5% yield(2) at $
Slide 16: Contact Information
Contact Information Thank you for your interest in Evolution Petroleum Corporation; NYSE American: EPM ir@evolutionpetroleum.com 713.935.0122 1155 Dairy AshfordRd, Suite 425 www.evolutionpetroleum.com Houston, TX 77079 Evolution Petroleum (NYSE American: EPM) 16
Slide 17: Appendix
APPENDIX Evolution Petroleum (NYSE American: EPM) 17
Slide 18: Company Leadership
Company Leadership Management Team Board of Directors Kelly Loyd Robert Herlin William Dozier President & Chief Executive Officer Chairman of the Board of Directors Director Petralis Energy Partners, LLC | JVL Advisors, LLC | Co-founder of Evolution Petroleum Vintage Petroleum | Santa Fe Minerals |
Slide 19: Highlights of Pending TexMex Acquisition
OPERATIONAL AND DEVELOPMENT UPSIDE WITH HIGH-QUALITY OPERATOR Highlights of Pending TexMex Acquisition $9.0 million purchase price vs. ~$15 million of Proved Developed PV-101 Adds approximately 440 net Enhances cash flow BOEPD of stable, low-decline visibility with a balanced production commodity mi
Slide 20: ESG
Committed to Long-Term Corporate Sustainability • Workplace policies and • Operator partners share procedures in place to protect common goals to uphold health and wellbeing of high standards of employees and stakeholders environmental stewardship, Strong focus on employee regulatory compliance, and
Slide 21: Company Overview
Company Overview Shares Outstanding Market Cap Average Production (FYTD 12/31/24) 34.3 MM { } $172.6 MM { } 7,212 BOEPD Share Price Annual Common Dividend1 Revenue (FYTD 12/31/24) $5.04 { } $0.48/share { } $42.2 MM { } 52 Week Range Net Debt (FYTD 12/31/24) Adj. EBITDA (FYTD 12/31/24)2 $4.59 - $6.29
Slide 22: Financial Highlights
Financial Highlights Total Revenue ($000s) Adjusted EBITDA1 ($000s) $150,000 $150,000 $120,000 $120,000 $90,000 $90,000 $60,000 $60,000 $30,000 $30,000 $- $- FY2021 FY2022 FY2023 FY2024 FY2021 FY2022 FY2023 FY2024 Note: Fiscal year end is June 30. Evolution Petroleum (NYSE American: EPM) 22 1) Adjus
Slide 23: Adjusted EBITDA Reconciliation
NON-GAAP RECONCILIATIONS Adjusted EBITDA Reconciliation Adjusted EBITDA is a non-GAAP financial measure that is used as a supplemental financial measure by our management and by external users of our financial statements, such as investors, commercial banks, and others, to assess our operating perfo
Slide 24: FY 2024 Reserve Summary
FY 2024 Reserve Summary1 Total Reserves by Commodity Total Proved Reserves by Asset Total Total Oil Natural NGLs Reserves Oil Natural Gas NGLs Reserves Reserve Category (MBbls) Gas (MMcf) (MBbls) (MBOE) Reserve Category (MBbls) (MMcf) (MBbls) (MBOE) Proved Developed Producing 7,746 66,627 5,065 23,9
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