Evolution Petroleum Corporation (NYSE:EPM) ("Evolution" or the "Company") has entered into a definitive agreement to acquire mineral and royalty ("M&R") interests in the core Midland Basin of the Permian Basin from a non-affiliated private seller for a total purchase price of approximately $16 million (the "Acquisition"), subject to customary adjustments and closing conditions. The Acquisition is expected to close on or about August 21, 2026, and has an effective date of August 1, 2026 (the "Effective Date").

As of the Effective Date, the Acquisition interests span approximately 3,420 net royalty acres across Reagan, Upton, Glasscock, Midland, and Martin Counties, Texas. Evolution expects to fund the Acquisition with net proceeds from a concurrent public offering of its common stock, cash on hand, and borrowings under its revolving credit facility.

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