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Evolution Petroleum Corp
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October 2024 Investor Presentation
| Jason Brown | Page 3 of 11 |
December 19, 2025
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"October 2024 Investor Presentation"
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Evolution Petroleum (EPM) Overview WHO WE ARE Evolution Petroleum (NYSE American: EPM) 3 10+ Year Dividend History Dividends Returned to Shareholders $122.5 Million Current Dividend Yield (Annualized 1Q25) 9.0% (2) In Dividends Per Share Returned to Shareholders Since December 2013 $3.69 We bring both an organic and inorganic growth strategy via a demonstrated history of highly accretive acquisitions and through participation in low-risk development drilling. Catalysts for Growth Enterprise Value: $210MM (1) Dividend Yield: 9.0% (2) Revenue: $86MM Adj. EBITDA: $30MM (3) Consistent Return of Capital to Shareholders EPM is an independent energy company focused on maximizing returns to shareholders through the ownership of onshore oil and natural gas properties, utilizing a non- operated business model. What We Do Our Footprint Delhi Field (Louisiana) Hamilton Dome Field (Wyoming) Barnett Shale (North Texas) Williston Basin (North Dakota) Jonah Field (Wyoming) Chaveroo Field (New Mexico) Scoop/Stack (Oklahoma) As of fiscal year-ended 6/30/24 unless otherwise noted. 1) Market cap as of 9/30/24, shares outstanding as of 9/6/24, and net debt as of 6/30/24. 2) Dividend yield calculated by annualizing the most recently declared quarterly distribution divided by the stock price on 9/30/24. 3) Adjusted EBITDA is a non-GAAP financial measure; refer to slide 23 for the reconciliation to the respective GAAP measure.