Mach Natural Resources (MNR) Conference presentation summary

Strategic pillars and financial discipline

• Operates with four strategic pillars: low leverage, disciplined acquisitions, reinvestment rate below 50% of operating cash flow, and maximizing cash distributions to equity holders.

• Maintains a low net debt to adjusted EBITDA ratio of 1.0x and targets peer-leading distributions.

• Focuses on acquiring assets at discounts to PDP PV-10 and continuous cost reduction.

• $1.5 billion paid to unitholders in cash distributions since inception through Q3 2026.

Operational scale and asset portfolio

• Holds approximately 2.8 million net acres diversified across the Mid-Continent, Permian, and San Juan Basins.

• Q2 2026 net daily production reached 149 MBOED, with 69% natural gas, 15% oil, and 16% NGLs.

• Proved reserves of 705 MMBOE, 77% proved developed, and 69% natural gas.

• Balanced production portfolio: ~55% Mid-Continent, ~45% Permian and San Juan.

Industry-leading efficiency and returns

• Achieved a 5-year average CROCI of 35%, about twice the peer average, and consistently above 20% annually.

• Cash G&A per BOE reduced by 86% since 2018, now over 70% better than peers at $0.45/BOE.

• Best-in-class free cash flow breakevens among both gas- and liquids-weighted peers.

• Top-quartile corporate decline rate at 17%, compared to a peer average of 26%.