Company: MGY
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001558370-25-003377
Chunk: 51

Company: Magnolia Oil & Gas Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 51
---
ize their investments—such as market capitalization, enterprise value, debt levels, amount of production, and production mix—and sought to create a peer group that on average looks similar to Magnolia. Based on this evaluation, the following companies comprise the 2024 TSR Peer Group:

| 2024 TSR Peer Group (1)   |   |                              |   |                             |
| APA Corporation           |   | Devon Energy Corporation     |   | Murphy Oil Corporation      |
| Chord Energy Corporation  | ​ | EOG Resources, Inc.          | ​ | Range Resources Corporation |
| Civitas Resources, Inc.   | ​ | Kosmos Energy Ltd.           | ​ | SM Energy Company           |
| CNX Resources Corporation | ​ | Marathon Oil Corporation (2) | ​ | Talos Energy Inc.           |
| Coterra Energy Inc.       | ​ | Matador Resources Company    | ​ | Vital Energy, Inc. (1)      |

| (1) | The 2024 TSR Peer Group is the same as the TSR Peer Group established for the 2023 PSU awards, except that (a) the prior TSR Peer Group originally included PDC Energy, Inc., which was removed from the TSR Peer Group upon its acquisition by Chevron Corp. in August 2023, and (b) Vital Energy, Inc. was added to the 2024 TSR Peer Group as it has comparable market capitalization, enterprise value, amount of production, and production mix as Magnolia. |

| (2) | In November 2024, ConocoPhillips completed its acquisition of Marathon Oil Corporation (“Marathon”), which resulted in the removal of Marathon from the TSR Peer Group. |

In the event of a merger or other business combination of two peer group members, the surviving, resulting or successor entity will continue to be treated as a member of the TSR Peer Group, provided the common stock or similar equity security of such company is listed or traded on a national securities exchange through the last day of the performance period. In addition, if a peer group company is acquired by or becomes a private company, (1) during the first year of the performance period, the company is removed from the TSR Peer Group, or (2) on or after the first anniversary of the performance period commencement date, the company’s TSR is measured as of the date of consummation of such

| ​                  |  ​ | ​                    |
| Magnolia Oil & Gas | 43 | 2025 Proxy Statement |

Compensation