Evolution Petroleum Corporation provided revenue and production guidance for the year 2022. Increased fiscal year-end 2022 proved reserves by 55% to 36.2 million barrels of oil equivalent from 23.4 MMBOE at fiscal year-end 2021; Added 9.4 MMBOE of proved developed producing reserves (“PDP”) through two acquisitions of long-life producing assets in the Williston Basin and Jonah Field; Added 3.6 MMBOE of proved undeveloped reserves attributable to development drilling locations within the recently acquired Williston Basin properties; Replaced more than 550% of 2022 production; Grew fiscal year 2022 exit rate daily production approximately 36% to an estimated 7,600 – 7,900 barrels of oil equivalent per day (“BOE/d”) from fiscal year 2021's exit rate of approximately 5,750 BOE/d.

Delivered improved quarterly revenue of an estimated $40 million – $43 million for the fiscal year 2022 fourth quarter from $13.7 million in fiscal year 2021 fourth quarter.