Magnolia Oil & Gas Announces Quarterly Dividend

HOUSTON--(BUSINESS WIRE)-- Magnolia Oil & Gas Corporation (NYSE: MGY) announced today that its Board of Directors has declared a quarterly cash dividend of $0.115 per share of Class A common stock, and a cash distribution of $0.115 per Class B unit, payable on June 1, 2023 to shareholders of record as of May 11, 2023.

About Magnolia Oil & Gas

Magnolia is a publicly traded oil and gas exploration and production company with operations primarily in South Texas in the core of the Eagle Ford Shale and Austin Chalk formations. Magnolia focuses on generating value for shareholders through steady production growth, strong pre-tax margins, and free cash flow. For more information, visit www.magnoliaoilgas.com.

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Investors

Jim Johnson

713-842-9033

jjohnson@mgyoil.com

Tom Fitter

713-331-4802

tfitter@mgyoil.com

Media

Art Pike

713-842-9057

apike@mgyoil.com

Source: Magnolia Oil & Gas Corporation