Northern Oil and Gas(NOG) - 2023 Q2 - Earnings Call Presentation

Meaningful spread over WACC despite significant capital investment period 1.34X V. Appendix Heavy 1H-23 investment phase, FCF poised for acceleration in 2H-23 II. Operations & Investment Activity Updates III. Guidance IV. Value Proposition • Company to announce prospective changes to dividend on an annual basis Q2 Adj. EBITDA(1) Q2 Leverage(1) $315.5MM +16% vs Q2-22 Q2 dividend increased to $0.37, +95% vs. Q2-22, +9% vs. Q1-23 Q2 2023 Earnings Presentation | 2 Q2-23 Financial & Operating Highlights Q2 Free ...