Business Overview - Magnolia Oil & Gas focuses on return-driven value creation through debt reduction, share repurchases, dividends, and accretive bolt-on acquisitions[1] - Magnolia operates in South Texas, primarily targeting the Eagle Ford and Austin Chalk formations[11] - The company has a net acreage position of approximately 482,000 acres, including ~23,300 acres in Karnes County and ~460,000 acres in the Giddings area[20] Financial Strategy - Magnolia limits its drilling and completion (D&C) capital spending to 55% of annual Adjusted EBITDAX to generate significant free cash flow[15] - The company had $400 million of principal debt outstanding and $675 million in cash as of December 31, 2022[25] - Magnolia's operating income margins were 63% during 2022[23] Shareholder Returns - Magnolia increased its dividend by 15% in 2023 to $0.46 per share annually[25] - Since Q3 2019, Magnolia has repurchased 52.3 million shares of its stock, representing approximately 20% of the diluted shares outstanding as of the authorization date[25, 34] - Magnolia plans to continue to opportunistically repurchase at least 1% of the total shares outstanding each quarter[35] Asset Development - Since inception, Magnolia has closed ~$456 million in bolt-on acquisitions, increasing its Karnes net acreage position by ~40% and Giddings by 33%[5] - 4Q22 production at Giddings has increased 23% YOY[43] - Magnolia has successfully transitioned 70,000 acres in the Giddings Field to development[64]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the year ended December 31, 2022 OR ☐ 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: 001-38083 Magnolia Oil & Gas Corporation (Exact Name of Registrant as Specified in its Charter) | Delaware | 81-5365682 | ...

Financial Data and Key Metrics Changes - The company achieved record production in 2022, leading to a pre-tax operating margin of 63% and record net income [6][16] - Free cash flow reached a record $823 million, with 54% returned to shareholders through share repurchases and dividends [11][45] - The cash balance nearly doubled to $675 million by the end of 2022, after spending approximately $90 million on acquisitions [12][45] Business Line Data and Key Metrics Changes - Production volumes grew by 14% year-over-year to 75,400 barrels of oil equivalent per day, with fourth quarter production increasing by 6% [17][44] - The Giddings development accounted for over half of the company's overall production and proved reserves, driving significant financial performance [6][11] Market Data and Key Metrics Changes - The company experienced strong product price realizations, contributing to overall financial success [44] - The total adjusted cash operating costs increased to $12.15 per BOE in Q4 2022, primarily due to higher production taxes and oilfield service costs [20][44] Company Strategy and Development Direction - The company plans to maintain disciplined capital spending while achieving moderate annual production growth and generating significant free cash flow [10][40] - There is a focus on small accretive bolt-on acquisitions to enhance the existing asset base and improve drilling economics [14][41] - The company aims for annualized dividend growth of at least 10%, supported by production growth and share repurchase strategies [19][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the operational execution and cost efficiencies to offset higher oilfield service costs [12][39] - The company anticipates production growth of approximately 10% in 2023, with a focus on the Giddings asset [39][49] - Management noted that inflationary pressures on service costs are beginning to flatten, which may improve operational efficiencies [13][49] Other Important Information - The company repurchased over 15 million shares in 2022, reducing the diluted share count by 8% compared to 2021 [11][18] - A 15% increase in the quarterly dividend was announced, reflecting strong operational and financial performance [46][38] Q&A Session Summary Question: Can you discuss the acquisitions made in Q4? - Management indicated that the acquisitions included acreage and working interests, primarily outside the core Giddings area, which will support ongoing operations [24][41] Question: What is the outlook for production growth in 2023? - Management expects production volumes to be between 80,000 and 82,000 BOE per day in Q1 2023, with continued growth anticipated throughout the year [22][39] Question: How do you view the current pricing environment and its impact on acquisitions? - Management acknowledged the current soft pricing environment but remains open to pursuing bolt-on deals if the right opportunities arise [60][89] Question: Can you provide more details on the performance of the Giddings pad? - Management confirmed that the Giddings pad has been performing better than expected, contributing significantly to production [72][126] Question: What is the company's approach to share repurchases versus dividends? - Management reiterated the commitment to a steady share repurchase program while also considering dividend growth, especially as excess cash becomes available [94][108]

Financial Performance - Magnolia's revenue for the year 2022 was $1694 million, a 57% increase year-over-year[39] - Adjusted EBITDAX for 2022 reached $1345 million, up 62% compared to the previous year[39] - Adjusted net income for 2022 was $978 million, a 69% increase year-over-year[39] - Free cash flow for 2022 amounted to $823 million, representing a 48% increase from the prior year[39] - The company's cash balance as of the end of 2022 stood at $675 million, an 84% increase year-over-year[39] Production and Operations - Total production in 2022 averaged 75400 barrels of oil equivalent per day (Mboe/d), a 14% increase year-over-year[39] - Giddings and Other Production accounted for 59% of total production in 2022, a 5% increase year-over-year[39] - The company's net debt to Q4 annualized adjusted EBITDAX ratio was -03x, indicating a net cash position[32] Capital Allocation - Magnolia repurchased 24 million shares during the fourth quarter of 2022[6, 42] - In 2022, the company repurchased 155 million shares[6] - The company plans to continue to opportunistically repurchase at least 1% of the total shares outstanding each quarter[19] - The quarterly dividend rate of $0115 per share is a 15% increase from 2022[23]

FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ 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: 001-38083 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Magnolia Oil & Gas Corporation (Exact Name of Registrant as Specified in its Charter) Delaware ...

Magnolia Oil & Gas Corporation (NYSE:MGY) Q3 2022 Results Conference Call November 2, 2022 11:00 AM ET Company Participants Christopher Stavros - President and Chief Executive Officer Brian Corales - Chief Financial Officer Conference Call Participants Leo Mariani - MKM Neal Dingmann - Truist Securities Charles Meade - Johnson Rice Umang Choudhary - Goldman Sachs Tim Rezvan - KeyBanc Capital Markets Geoff Jay - Daniel Energy Partners Paul Diamond - Citi Operator Good day, and welcome to the Magnolia Oil Thi ...

Magnolia Oil & Gas Third Quarter 2022 Earnings Presentation November 2, 2022 Disclaimer FORWARD LOOKING STATEMENTS The information in this presentation and the oral statements made in connection therewith include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this presentation, reg ...

Magnolia Oil & Gas Corporation (NYSE:MGY) Q2 2022 Earnings Conference Call August 3, 2022 11:00 AM ET Company Participants Brian Corales ??? Vice President, Investor Relations Steve Chazen ??? Chairman, President and Chief Executive Officer Chris Stavros ??? Executive Vice President and Chief Financial Officer Conference Call Participants Neal Dingmann ??? Truist Securities Leo Mariani ??? MKM Partners Umang Choudhary ??? Goldman Sachs Austin Aucoin ??? Johnson Rice Nicholas Pope ??? Seaport Research Operat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ 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: 001-38083 Magnolia Oil & Gas Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 81-53 ...

| --- | --- | --- | --- | --- | --- | --- | |-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | Magnolia Oil & Gas | | | | | | | | Second Quarter 2022 Earnings Presentation August 3, 2022 Stephen Chazen – Chairman, President & CEO Christopher Stavros – Executive Vice President & CFO Brian ...