Overview

• U.S. energy firm's Q2 revenue missed analyst expectations

• Adjusted EBITDA for Q2 beat analyst expectations, driven by higher natural gas prices

• Company completed acquisitions in late December 2025 and January 2026 in Haynesville-Bossier Shale, enhancing asset portfolio

Outlook

• Company expects newly acquired Haynesville-Bossier assets to enhance cash flow and dividend coverage

• Evolution Petroleum anticipates consistent acquisition pipeline to support dividend strength

• Company remains focused on disciplined capital allocation for sustainable shareholder returns

Result Drivers

• PRODUCTION INCREASE - Fiscal Q2 production rose 6% year-over-year, driven by increases in oil, natural gas, and NGLs

• HIGHER GAS PRICES - Higher realized natural gas prices contributed to a 41% increase in Adjusted EBITDA

• COST REDUCTIONS - Lease operating expenses improved due to reduced taxes and cessation of CO2 purchases

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue	Miss	$20.68 mln	$21.80 mln (4 Analysts)
Q2 EPS		$0.03
Q2 Adjusted Net Income		$257,000
Q2 Net Income		$1.07 mln
Q2 Adjusted EBITDA	Beat	$7.99 mln	$7.68 mln (4 Analysts)

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Evolution Petroleum Corp is $5.15, about 25% above its February 9 closing price of $4.12

Press Release: ID:nGNX9TT4wZ

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