Company Performance & Strategy - The company's long-term goal is to maximize total shareholder return through onshore oil and natural gas properties in the United States[48] - The company is focused on a disciplined growth strategy through targeted asset M&A, reinvesting cash flow to support dividends, future drilling programs, and future acquisitions[78] - The company has a proven history of total shareholder return, with $984 million returned to shareholders since December 2013 through dividends and buybacks[53] - The company's Q2 FY23 net income was $104 million, or $031 per diluted share[28, 110] - The company generated Adjusted EBITDA of $164 million during the current quarter, with YTD FY23 Adjusted EBITDA growing 79% year over year[31] Asset Portfolio & Reserves - The company's FYE22 total proved reserves were 362 million barrels of oil equivalent (MMBOE)[83] - The company's Q2 FY23 average daily production was 7,250 BOEPD, with a commodity mix of 59% gas, 25% oil, and 16% NGL[28] - The company's FYE22 pre-tax PV-10 value of total proved reserves was $4038 million[58, 104] - The company's net debt as of 2Q 2023 was $00 million[109] Dividend & Shareholder Returns - The company has consecutively paid dividends since December 2013[53] - The company's current dividend yield is approximately 75% at $048 per share annually[17]

Evolution Petroleum Corp (NYSE:EPM) Q2 2023 Earnings Conference Call February 8, 2023 2:00 PM ET Company Participants Ryan Stash - SVP, CFO, Secretary, Compliance Officer & Treasurer Kelly Loyd - CEO, President & Director Conference Call Participants Jeffrey Robertson - Water Tower Research John Bair - Ascend Wealth Advisors Donovan Schafer - Northland Capital Markets John White - ROTH MKM Partners Operator Good day, everyone, and welcome to the Evolution Petroleum Second Quarter Fiscal Year 2023 Earnings R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32942 EVOLUTION PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction ...

Evolution Petroleum Corporation (NYSE:EPM) Q1 2023 Earnings Conference Call November 9, 2022 2:00 PM ET Company Participants Ryan Stash - Senior VP, CFO, Secretary, Principal Accounting Officer & Treasurer Kelly Loyd - CEO, President & Director Conference Call Participants Donovan Schafer - Northland Capital Markets John White - ROTH Capital Partners Jeffrey Robertson - Water Tower Research John Bair - Ascend Wealth Advisors Operator Good day, and welcome to the Evolution Petroleum First Quarter Fiscal Year ...

Financial Performance - Generated revenue of $39.8 million and net income of $10.7 million for the first quarter of fiscal year 2023[139] - For the three months ended September 30, 2022, the company reported net income of $10.7 million, a 105.2% increase from $5.2 million in the same period of 2021[170] - Total revenues for the current quarter were $39.8 million, up 110.8% from $18.9 million in the prior year, driven by a 29.9% increase in average daily equivalent production[173] - Cash flows provided by operating activities rose by $11.8 million to $17.4 million, primarily due to increased revenues[165] - Income tax expense for the quarter was $3.1 million on net income before taxes of $13.8 million, compared to $1.5 million on $6.7 million in the prior year[189] Production and Operations - Production averaged 7,598 net BOEPD during the same period[140] - Average daily production increased from 5,848 BOEPD in the year-ago quarter to 7,598 BOEPD, primarily due to acquisitions in the Williston Basin and Jonah Field[173] - The company experienced a 27.2% decrease in NGL production, primarily due to ethane rejection at the Barnett Shale properties[173] Expenses and Costs - CO2 costs per BOE rose to $3.15, a significant increase from $1.70 in the prior year, driven by higher purchased CO2 volumes and costs[176] - Ad valorem and production taxes increased to $3.3 million from $1.2 million, reflecting higher oil and natural gas prices and increased production volumes[174] - Depletion expense rose by 133.0% from $1.4 million to $3.3 million due to increased production, with a per unit cost of $4.75 per BOE[180] - General and administrative expenses increased by 30.0% from $1.7 million to $2.3 million, primarily due to salary and consulting fees[184] - Interest expense increased by $0.2 million due to higher borrowings on the Senior Secured Credit Facility[186] Capital and Financing - Returned $4.0 million in cash dividends to shareholders, totaling over $90.3 million since the inception of the dividend program in December 2013[140] - The company has a share repurchase program authorized for up to $25 million through December 31, 2024[138] - The Senior Secured Credit Facility has a maximum capacity of $50.0 million, with $12.3 million drawn as of September 30, 2022[149] - Net cash flows used in financing activities increased by $10.5 million, primarily due to a $9.0 million repayment of borrowings[167] Price Realization - The average realized price per BOE increased by approximately $21.84, or 62.2%, compared to the previous year, reflecting higher oil and natural gas prices[173] - Average realized crude oil price per Bbl increased by 36.5% from $66.11 to $90.26[187] - Average realized natural gas price per Mcf increased by 115.1% from $3.70 to $7.96[187] Future Outlook - Anticipated capital expenditures for fiscal year 2023 are projected to be between $6.5 million and $9.5 million, excluding potential acquisitions[161] - The company expects energy prices to remain volatile and is monitoring commodity prices for potential derivative financial instrument usage[192]

Financial Data and Key Metrics Changes - For the fiscal year ended June 30, 2022, the company reported a production growth of 145%, revenue that was 233% higher, and an increase of 550% in adjusted EBITDA compared to the previous year [6][19] - Fourth quarter adjusted EBITDA reached $21.7 million, a 76% increase from $12.3 million in the third quarter [19][25] - Net income for the fourth quarter was $14.9 million or $0.44 per diluted share, compared to $5.7 million or $0.17 per diluted share in the third quarter [25][26] Business Line Data and Key Metrics Changes - The company produced 7,451 net BOE per day in the fourth quarter, a 34% increase from 5,578 net BOE per day in the third quarter [11] - Net production at the Delhi field declined by 9% from the third quarter, while Hamilton Dome's production increased slightly [13][14] - The Barnett Shale assets saw a 1% decrease in net production, while Williston Basin assets increased by 2% [15][16] Market Data and Key Metrics Changes - The company experienced higher commodity pricing, with oil revenue increasing to $18.4 million due to a 6% rise in sales volumes and a 17% increase in realized pricing [23] - Natural gas revenue surged to $18.5 million from $6.1 million in the third quarter, primarily due to the Jonah Field acquisition and an 80% increase in realized commodity pricing [23] - The company reported a premium pricing for natural gas at the Jonah Field, which was expected to continue into the winter months [44][47] Company Strategy and Development Direction - The company is focused on maximizing total shareholder return and optimizing investments, with a commitment to paying dividends and a newly authorized share repurchase program of up to $25 million [7][12] - The acquisitions in the Williston Basin and Jonah Field are aimed at diversifying the product mix and expanding the operating footprint [28][30] - The company aims to maintain leverage below 1x annualized EBITDA and expects to be debt-free by the end of the second quarter of fiscal 2023 [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the inherent volatility in the oil and gas industry but emphasized a long-term view and maintaining a strong balance sheet [30] - The company is optimistic about the future cash flow generation and the potential for further acquisitions, while also being cautious about the current market conditions [30][78] - Management noted that the current M&A environment is challenging due to elevated commodity prices, leading to a wide bid-ask spread [76] Other Important Information - The company declared a fiscal first quarter 2023 dividend of $0.12 per common share, marking the 36th consecutive quarter of dividend payments [12][20] - The company invested approximately $1.8 million in development and maintenance capital expenditures during the fourth quarter [26] Q&A Session Summary Question: Have acquisitions been put on hold until a permanent CEO is found? - Management indicated that the timing of acquisitions would depend on the availability of suitable deals, and they would act if an accretive opportunity arises [34][35] Question: How did production headwinds affect results? - Management acknowledged production headwinds but noted that improved pricing differentials helped offset these challenges [40][42] Question: What is the outlook for pricing differentials in the West Coast? - Management expressed optimism about continued premium pricing for natural gas in the Jonah Field, especially during winter months [47] Question: How does the company view the M&A environment? - Management noted that while there are many deals available, sellers are currently less inclined to sell due to favorable cash flows from high commodity prices [76][78] Question: What is the company's approach to share repurchase and capital allocation? - Management stated that the share repurchase program is a tool to enhance shareholder returns, and they will adjust based on market conditions and cash flow generation [54][55]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-32942 EVOLUTION PETROLEUM CORPORATION (Exact name of registrant as specified in its charter) Nevada 41-1781991 (State or other jurisd ...

Wyoming AEVOLUTION Petroleum Corporation Investor Presentation June 2022 Disclaimer 2 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 statements." Forward-looking statements are based on current expectations and include any statement that is not a current or historical fact. ...

Financial Performance - Total revenues for the three months ended March 31, 2022, were $25,689,104, a significant increase from $7,635,748 in the same period of 2021, representing a growth of approximately 236%[14]. - Crude oil revenues reached $14,868,519 for the three months ended March 31, 2022, compared to $7,076,965 in the prior year, indicating an increase of about 110%[14]. - The company reported a net income of $5,705,811 for the three months ended March 31, 2022, compared to a net income of $1,191,001 for the same period in 2021, reflecting a growth of approximately 378%[14]. - Basic earnings per share for the three months ended March 31, 2022, were $0.17, up from $0.04 in the same period of 2021, marking a 325% increase[14]. - Net income attributable to common stockholders for the nine months ended March 31, 2022, was $17,756,384, a significant recovery from a loss of $18,654,154 in the same period of the previous year[17]. - Total revenues for the nine months ended March 31, 2022, reached $66.9 million, a 252.2% increase from $19.0 million in the same period of 2021[186]. Assets and Liabilities - Total current assets increased to $32,137,077 as of March 31, 2022, from $18,108,374 as of June 30, 2021, representing an increase of approximately 77.5%[12]. - Total assets grew to $116,207,239 as of March 31, 2022, compared to $76,705,662 as of June 30, 2021, indicating an increase of about 51.6%[12]. - Total liabilities increased to $51,447,213 as of March 31, 2022, from $22,110,859 as of June 30, 2021, reflecting an increase of approximately 132.5%[12]. - The company’s cash and cash equivalents rose to $13,368,538 as of March 31, 2022, compared to $5,276,510 as of June 30, 2021, representing an increase of about 153%[12]. - The company’s retained earnings increased to $21,354,940 as of March 31, 2022, from $12,020,064 as of June 30, 2021, reflecting a growth of approximately 77.5%[12]. Cash Flow and Expenditures - Net cash provided by operating activities increased to $28,691,050 for the nine months ended March 31, 2022, compared to $2,559,382 for the same period in 2021[17]. - The company reported capital expenditures for oil and natural gas properties of $825,872, up from $183,690 in the previous year[17]. - Cash and cash equivalents at the end of the period were $13,368,538, down from $17,039,538 at the end of the previous year[17]. - The company reported a net cash used in investing activities of $28,139,918 for the nine months ended March 31, 2022, compared to $2,508,690 in the previous year[17]. - Total company capital expenditures for the remainder of fiscal year 2022 is expected to be in the range of $0.5 million to $1.0 million[155]. Acquisitions and Investments - The Company completed the Williston Basin Acquisition on January 14, 2022, for a cash consideration of $25.7 million, funded by cash on hand and $16.0 million in borrowings[46]. - The Jonah Field Acquisition closed on April 1, 2022, with cash consideration at closing totaling $27.7 million[48]. - The company acquired non-operated working interests in 73 producing wells in the Williston Basin for cash consideration of $25.7 million[127]. Production and Revenue Breakdown - Natural gas revenue increased significantly to $6,070,866 for the three months ended March 31, 2022, compared to only $141 in the same period of 2021[39]. - Crude oil revenue for the three months ended March 31, 2022, was $14,868,519, up from $7,076,965 in the same period of 2021, reflecting a growth of about 110%[39]. - Equivalent volumes increased by 206.2% to 1,495,709 BOE for the nine months ended March 31, 2022, compared to 488,549 BOE in the prior year[186]. - Average realized crude oil price per barrel increased by 79.1% to $76.69 for the nine months ended March 31, 2022, compared to $42.81 in the prior year[198]. Derivative Contracts and Hedging - The Company reported a total net loss on derivative contracts of $2,591,465 for the three months ended March 31, 2022[103]. - The unrealized loss on derivative contracts for the same period was $2,398,237, indicating significant market volatility[103]. - The company’s derivative contracts are primarily with large utilities with investment-grade credit ratings, minimizing credit risk[113]. - The company entered into natural gas collar arrangements covering approximately 25% of natural gas production for the subsequent twelve months, with weighted average floor prices of $5.25/MMBtu and ceilings ranging from $6.67/MMBtu to $7.50/MMBtu[118]. Dividends and Stockholder Returns - Common stock dividends paid amounted to $8,421,508 for the nine months ended March 31, 2022, compared to $2,666,334 in the same period of 2021[17]. - The company declared a quarterly cash dividend of $0.10 per share of common stock, payable on June 30, 2022[120]. - The company had 33,719,621 shares of common stock outstanding, with cumulative cash dividends paid exceeding $82.9 million since December 2013[63][64]. Operational Challenges and Responses - The Company is continuously monitoring the impacts of the COVID-19 pandemic on its operations and financial results[26]. - The Company has implemented a business continuity plan to allow employees to work securely from home or the corporate office in Houston, Texas[27].

Evolution Petroleum Corporation (NYSE:EPM) Q3 2022 Earnings Conference Call May 11, 2022 2:00 PM ET Company Participants Ryan Stash - Chief Financial Officer Jason Brown - President and Chief Executive Officer Conference Call Participants John White - ROTH Capital John Bair - Ascend Wealth Advisors Jeff Robertson - Water Tower Research Zach Pancratz - DePrince, Race & Zollo, Inc Charles Finnie - EFW Partners Operator Good day, ladies and gentlemen. And welcome to the Evolution Petroleum Third Quarter Fiscal ...