Investor Presentaiton

Q1 2019 Cash Flow Reconciliation ($ in millions) $350 $300 $250 $154 $200 $150 $100 $50 $136 $4 $38 $52 $128 MAGNOLIA OIL & GAS $76 50 $0 (2) (3) Cash 12/31/18 Cash Flow from Operations Other (1) Changes in Working Capital Acquisitions D&C and Facilities Capital Cash 3/31/19 (1) Represents cash flow from operations before changes in working capital. (2) Represents cash received in final settlement of EnerVest Acquisition. (3) Acquisitions include leasehold acquisitions and are net of partner contributions. 6

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