Third Quarter 2021 Earnings Presentation November 2, 2021 Stephen Chazen – Chairman, President & CEO Christopher Stavros – Executive Vice President & CFO Brian Corales – Vice President, Investor Relations 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 ...

| --- | --- | --- | --- | |-----------------------------------------------------------|-------|-------|-------| | | | | | | Second Quarter 2021 Earnings Presentation August 3, 2021 | | | | | | | | | Stephen Chazen – Chairman, President & CEO Christopher Stavros – Executive Vice President & CFO Brian Corales – Vice President, Investor Relations Disclaimer FORWARD LOOKING STATEMENTS The information in this presentation and the oral statements made in connection therewith include "forward-looking statements" w ...

Magnolia Oil & Gas Corporation (NYSE:MGY) Q2 2021 Results Conference Call August 3, 2021 11:00 AM ET Company Participants Brian Corales - VP-IR Steve Chazen - Chairman, President and CEO Chris Stavros - EVP and CFO Conference Call Participants Umang Choudhary - Goldman Sachs Leo Mariani - KeyBanc Zach Parham - JP Morgan Charles Meade - Johnson Rice Neal Dingmann - Truist Operator Good day, and welcome to the Magnolia Oil and Gas Second Quarter 2021 Earnings Release and Conference Call. All participants will ...

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, 2021 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 | 8 ...

| --- | --- | --- | --- | --- | --- | |-------------------------------------------------------|-------|-------|-------|-------|-------| | | | | | | | | First Quarter 2021 Earnings Presentation May 5, 2021 | | | | | | | | | | | | | Stephen Chazen – Chairman, President & CEO Christopher Stavros – Executive Vice President & CFO Brian Corales – Vice President, Investor Relations Disclaimer FORWARD LOOKING STATEMENTS The information in this presentation and the oral statements made in connection therewith includ ...

Financial Data and Key Metrics Changes - Magnolia Oil & Gas reported record earnings of $91 million or $0.37 per diluted share, with adjusted net income of $94 million or $0.38 per diluted share, exceeding consensus estimates [20] - Adjusted EBITDAX was $151 million, with total drilling and completion capital of approximately $39 million, representing just 26% of adjusted EBITDAX [21] - Free cash flow for the first quarter was $100 million, with a cash balance of $178 million at the end of the quarter [11][25] Business Line Data and Key Metrics Changes - Total production grew 3% sequentially to 62.3 thousand barrels of oil equivalent per day, with Giddings production increasing 45% year-over-year and oil production at Giddings up 73% from the prior-year quarter [22][12] - Giddings' production grew 22% sequentially, with well costs averaging about $6 million per well [12][13] Market Data and Key Metrics Changes - Oil price differentials are anticipated to be approximately $3 per barrel discount to MEH during the second quarter [32] - The company expects production to average 66,000 barrels per day in the second quarter, a sequential increase of 6% compared to the first quarter [31] Company Strategy and Development Direction - The business model focuses on disciplined capital spending, limiting capital spending to approximately 60% of EBITDAX to generate mid-single-digit production growth [8] - The company plans to add a second operated rig in the summer to drill wells in both Giddings and Karnes, with a total drilling and completion capital expected to be somewhat less than $300 million for the year [15][29] - Free cash flow will be primarily used for share repurchases and small bolt-on acquisitions, with plans to pay the first semi-annual dividend in the third quarter [18][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong performance of Giddings, noting that production growth was achieved with lower capital spending due to improved efficiencies [12][18] - The company does not expect to issue new debt and has ample liquidity to execute its strategy, with total liquidity of roughly $630 million [25][26] - Management anticipates a meaningful decline in cash G&A starting in the second half of the year due to the end of the EnerVest contract [37] Other Important Information - The company reduced its diluted share count by 4% from fourth quarter levels and plans to continue repurchasing about 1% of its shares each quarter [17][32] - The transition from EnerVest contract workers to Magnolia employees is expected to enhance operational control and reduce costs [36] Q&A Session Summary Question: Guidance on capital spending for 2022 and balance between production growth and free cash flow generation - Management indicated that capital spending would correlate with production growth expectations, with lower capital needed for lower growth rates [40][41] Question: Insights on Giddings well performance and long-term production - Management noted that the decline rate for Giddings wells is much less than for Karnes wells, indicating strong long-term performance [49][50] Question: Allocation of free cash flow between variable dividends and buybacks - Management stated that as share count decreases, the amount available for dividends will increase, with a focus on buying back shares when they are undervalued [58][59] Question: Expectations for Giddings appraisal program with the second rig - The second rig will be used for pad drilling and exploring new areas, with a focus on maintaining a balance of oil production [72][73] Question: Infrastructure build-out in Giddings - Management is actively working on reducing costs through pipeline infrastructure development, which would generate significant efficiencies [75][76]

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 March 31, 2021 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 81-5 ...

Magnolia Oil & Gas Corporation Investor Presentation – March 2021 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, regarding Magn ...

Fourth Quarter 2020 Earnings Presentation February 23, 2021 Stephen Chazen – Chairman, President & CEO Christopher Stavros – Executive Vice President & CFO Brian Corales – Vice President, Investor Relations 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 Exchan ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 OR FORM 10-K (Mark One) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ For the year ended December 31, 2020 Commission File Number: 001-38083 Magnolia Oil & Gas Corporation (I.R.S. Employer Identification No.) Nine Greenway Plaza, Suite 1300 Houston, Te ...