Magnolia Oil & Gas Corporation · NYSE:MGY

Magnolia Oil & Gas — Merger or Acquisition (July 2026)

11 slides from Magnolia Oil & Gas's merger presentation, Jul 20, 2026

  1. Slide 1: Magnolia Oil & Gas to Acquire WildFire Energy

    Magnolia Oil & Gas to Acquire WildFire Energy Highly Accretive Acquisition Creates Premier Eagle Ford & Austin Chalk Asset Position in South Texas July 20, 2026 Christopher Stavros – Chairman, President & CEO Brian Corales – Senior Vice President & CFO Tom Fitter – Vice President, Investor Relations

  2. Slide 2: Highly Accretive Acquisition Creates Premier Eagle Ford/Austin Chalk Position

    Magnolia Oil & Gas to Acquire WildFire Energy Highly Accretive Acquisition Creates Premier Eagle Ford/Austin Chalk Position Acquisition Overview Strong Strategic Fit With Highly Contiguous Acreage in Giddings  Total Purchase Price: ~$4.06 Bn  Funded with Balanced Mix of Cash and Equity (including

  3. Slide 3: Magnolia's Differentiated & Proven Business Model is Unchanged

    Magnolia Oil & Gas to Acquire WildFire Energy Magnolia’s Differentiated & Proven Business Model is Unchanged Differentiated & Proven Business Model Capital Allocation Priorities  Maintain Conservative Leverage 1) D&C Capital of <=55% of Adjusted EBITDAX – Focus on Steady Reduction of Debt from Wild

  4. Slide 4: Acquisition Improves on Magnolia's Unique E&P Platform

    Magnolia Oil & Gas to Acquire WildFire Energy Acquisition Improves on Magnolia’s Unique E&P Platform  Creates the Dominant Eagle Ford/Austin Chalk E&P Company through Combining Two High-Quality, Complementary Assets Substantial Increase in Duration of High-Return Development  Opportunities through

  5. Slide 5: Concentrated & High-Quality Scale in Eagle Ford/Austin Chalk

    Magnolia Oil & Gas to Acquire WildFire Energy Concentrated & High-Quality Scale in Eagle Ford/Austin Chalk 1,292 Eagle Ford/Austin Chalk Net Acreage2 (thousand net acres) 810 725 602 576 489 321 223 178 119 94 90 Transaction Positions Magnolia as the Largest Acreage Holder in the Eagle Ford/Austin C

  6. Slide 6: Acquisition Creates Dominant Position in the Giddings Field Area

    Magnolia Oil & Gas to Acquire WildFire Energy Acquisition Creates Dominant Position in the Giddings Field Area Significant Additional Acreage, Oil Production & Reserves Support Future Resource Optionality 1,252 79 306 54% Oil 167 562 42 39% Oil Magnolia Pro Forma Magnolia Pro Forma Magnolia Pro Form

  7. Slide 7: Synergy Capture to Drive Higher Margins & Free Cash Flow

    Magnolia Oil & Gas to Acquire WildFire Energy Synergy Capture to Drive Higher Margins & Free Cash Flow >$100 Million of Annual Synergies by YE 2027 Complementary Assets & Operations Lead to Significant Synergy Capture ($ MM) Drilling, Completions & Facilities • Extended Laterals and Materials Benefi

  8. Slide 8: Increase in Free Cash Flow Supports Pathway to Reduce Debt

    Magnolia Oil & Gas to Acquire WildFire Energy Increase in Free Cash Flow Supports Pathway to Reduce Debt Cumulative Free Cash Flow ($ MM)1 >$4.5 Bn Cumulative FCF Through 20301  Significant Free Cash Flow Generation Provides Clear $4,000 Pathway to Reduce Debt While Maintaining Strong Return of Cap

  9. Slide 9: Acquisition Supports Significant Return of Capital to Shareholders

    Magnolia Oil & Gas to Acquire WildFire Energy Acquisition Supports Significant Return of Capital to Shareholders Asset Quality & Improved Free Cash Flow Supports 9% Dividend Increase Annualized Dividend Per Share $0.72 $0.66  Magnolia has a strong track record of consistent $0.60 return of capital

  10. Slide 10: History of Significant Return of Capital to Shareholders

    Magnolia Oil & Gas to Acquire WildFire Energy History of Significant Return of Capital to Shareholders ~$2 Billion Returned to Shareholders Cumulative Return of Capital ($MM) $1,996 $1,913  Magnolia has returned ~40% of its current market cap over the past 8 years $1,591  Improved and durable retu

  11. Slide 11: Disclaimer

    Magnolia Oil & Gas to Acquire WildFire Energy Disclaimer FORWARD LOOKING STATEMENTS The information in this presentation 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

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