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Investor Presentaiton

Karnes County - Core Eagle Ford and Austin Chalk MAGNOLIA OIL & GAS • • Key Asset Highlights World-class acreage footprint located in the core of the Eagle Ford, substantially de-risked - 21,460 net acres, 64% operated, 97% HBP, 40.5 Mboe/d Q1 2019 production (67% oil, 82% liquids) EOG represented ~85% of non-operated activity in 2018 Steady production growth while generating substantial free cash flow - Full field development allows for operational efficiencies and improved performance Well known, repeatable acreage position targeting multiple benches and represents some of the best economics in North America Premier Position in the Core of the Eagle Ford Wilson Magnolia Acreage IP90 Boe/1,000' < 40 40-60 66-80 80 100 100 120 > 120 Karnes 5 10 Miles Source: IHS Performance Evaluator. - Breakevens between $28 - $32 per barrel (1) (1) Source: RSEG Industry Leading Breakevens ($/Bbl WTI) (1) $45 $32 $34 $35 $38 $39 $39 $28 Karnes Austin Chalk Karnes Lower Eagle Ford Midland Delaware DJ Basin Eagle Ford STACK Bakken Source: RSEG. 10
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