Magnolia Oil & Gas Corporation · NYSE:MGY
Magnolia Oil & Gas — Q3 2025 Earnings Presentation
21 slides from Magnolia Oil & Gas's earnings presentation, Oct 30, 2025
Slide 1: Third Quarter 2025 Earnings Presentation
Third Quarter 2025 Earnings Presentation October 29, 2025 Christopher Stavros – Chairman, President & CEO Brian Corales – Senior Vice President & CFO Tom Fitter – Director, Investor Relations
Slide 2: Disclaimer
Third Quarter 2025 Earnings Presentation Disclaimer FORWARD LOOKING STATEMENTS The information in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Al
Slide 3: Third Quarter 2025 Highlights & Announcements
Third Quarter 2025 Earnings Presentation Third Quarter 2025 Highlights & Announcements Financial Operations Corporate • Total adjusted net income of $78 MM and • Q3 2025 total production of 100.5 Mboe/d • Full-year 2025 production growth guidance operating income margin of 31% (company record) excee
Slide 4: Magnolia's Consistent Business Model
Third Quarter 2025 Earnings Presentation Magnolia’s Consistent Business Model High Quality Assets Drive Low Capital Deliver Mid-Single Digit Long-Term Production Reinvestment Rate that Grows the Business Growth with Significant Free Cash Flow Limit Capital Spending to 55% of 2025 BOE Growth of ~10%,
Slide 5: Third Quarter 2025 Key Financial Metrics
Third Quarter 2025 Earnings Presentation Third Quarter 2025 Key Financial Metrics Metric Q3 2025 YoY % Change Total Production (Mboe/d) 100.5 11% Oil Production (Mbbls/d) 39.4 1% Revenue ($ MM) $325 (2%) Adjusted EBITDAX ($ MM) $219 (10%) Adjusted Net Income ($ MM) $78 (22%) D&C Capex ($ MM) $118 15
Slide 6: Third Quarter 2025 Cash Flow Reconciliation
Third Quarter 2025 Earnings Presentation Third Quarter 2025 Cash Flow Reconciliation 600 5 500 25 29 51 400 247 $ In Millions 119 300 200 280 252 100 0 (3) (1) (2) (4) Cash Cash Flow Changes in Acquisitions Dividends and Share DC&F Capital Cash 6/30/2025 from Working Capital Distributions Repurchase
Slide 7: History of Significant & Consistent Share Repurchases
Third Quarter 2025 Earnings Presentation History of Significant & Consistent Share Repurchases Magnolia’s Consistent Share Repurchases (1) 80 (million shares repurchased) 6.5 70 11.0 60 9.6 50 15.5 40 (79.4) 30 25.3 Magnolia has reduced its diluted share 20 count by approximately 26% 10 4.5 7.0 0 20
Slide 8: Track Record of a Safe, Sustainable and Growing Dividend
Third Quarter 2025 Earnings Presentation Track Record of a Safe, Sustainable and Growing Dividend Dividend Payout Per Share CAGR Has Exceeded 16% • Magnolia’s dividend has grown at a double-digit rate over the past 4 years $0.60 • Sustainable dividend growth supported even at lower $0.52 product pri
Slide 9: Summary Balance Sheet
Third Quarter 2025 Earnings Presentation Summary Balance Sheet (in thousands) September 30, 2025 December 31, 2024 Cash and cash equivalents $280,485 $260,049 Other current assets 189,004 150,775 Property, plant and equipment, net 2,414,964 2,306,034 Other assets 39,131 103,977 Total assets $2,923,5
Slide 10: Margins and Cost Structure
Third Quarter 2025 Earnings Presentation Margins and Cost Structure For the Quarters Ended $ / Boe, unless otherwise noted September 30, 2025 September 30, 2024 Revenue $35.14 $39.92 Total Cash Operating Costs: Lease Operating Expenses (1) (5.16) (5.26) Gathering, Transportation & Processing (1.92)
Slide 11: FY2025 & Third Quarter 2025 Operating Plan & Guidance
Third Quarter 2025 Earnings Presentation FY2025 & Third Quarter 2025 Operating Plan & Guidance 2025E Production & Capital 2025E Capital Fourth Quarter 2025 Guidance Production Growth Production ~20-25% Karnes ~101 Mboe/d YoY 2025 Total Growth ~10% D&C Capital ~75-80% D&C Capital Spending Giddings FY
Slide 12: Summary Investment Highlights
Third Quarter 2025 Earnings Presentation Summary Investment Highlights High Quality Assets Positioned for Success • Leading position in the Giddings area with low capital reinvestment rate, low breakevens and substantial running room Giddings • Coveted position in the Karnes area in the core of the
Slide 13: Appendix
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Slide 14: Consistent & Sizable Cash Return to Shareholders
Third Quarter 2025 Earnings Presentation Consistent & Sizable Cash Return to Shareholders >$1.8 Billion Returned to Shareholders Cumulative Return of Capital ($MM) $1,831 $1,591 • Magnolia has a strong track record of returning capital to shareholders $1,213 • Returned >40% of current market cap ove
Slide 15: Magnolia's Commitment to Sustainability
Third Quarter 2025 Earnings Presentation Magnolia’s Commitment to Sustainability Safeguarding Supporting Employees Governing with the Environment and Communities Integrity 21-percent reduction in gross $304 million in royalty, lease, and 50-percent refreshment rate Scope 1 greenhouse gas surface pay
Slide 16: Free Cash Flow Reconciliations
Third Quarter 2025 Earnings Presentation Free Cash Flow Reconciliations For the Quarters Ended (in thousands) September 30, 2025 September 30, 2024 Net cash provided by operating activities $247,054 $217,893 Add back: net change in operating assets and liabilities 256 22,928 Cash flows from operatio
Slide 17: Adjusted EBITDAX Reconciliations
Third Quarter 2025 Earnings Presentation Adjusted EBITDAX Reconciliations For the Quarters Ended (in thousands) September 30, 2025 September 30, 2024 Net income $78,233 $105,912 Interest expense, net 5,362 3,856 Income tax expense 17,208 26,530 EBIT $100,803 $136,298 Depreciation, depletion and amor
Slide 18: Adjusted Net Income Reconciliation
Third Quarter 2025 Earnings Presentation Adjusted Net Income Reconciliation For the Quarters Ended (in thousands) September 30, 2025 September 30, 2024 Net income $78,233 $105,912 Adjustments: Gain on revaluation of contingent consideration (507) (7,009) (1) Change in estimated income tax 98 1,353 A
Slide 19: Capital Structure & Liquidity Overview
Third Quarter 2025 Earnings Presentation Capital Structure & Liquidity Overview Capital Structure Overview Capitalization & Liquidity ($MM) Capitalization Summary As of 9/30/2025 Maintaining low financial leverage profile ‒ Currently have a net debt(1) position of $120 MM Cash and Cash Equivalents
Slide 20: Return on Capital Employed
Third Quarter 2025 Earnings Presentation Return on Capital Employed For the Quarters Ended (in thousands) September 30, 2025 September 30, 2024 Operating income $101,464 $129,012 Operating income (A) $101,464 $129,012 Debt - beginning of period 392,880 394,131 Stockholders' equity - beginning of per
Slide 21: Oil & Gas Production Results
Third Quarter 2025 Earnings Presentation Oil & Gas Production Results Combined Karnes Giddings Combined Karnes Giddings For the Quarter Ended September 30, 2025 For the Quarter Ended September 30, 2024 Production: Oil (MBbls) 3,628 1,164 2,464 3,579 1,225 2,354 Natural gas (MMcf) 17,515 2,428 15,087