Northern Oil & Gas (NOG) Update - Nov 26

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Northern Oil and Gas, Inc. (NYSE: NOG) (“NOG” or the “Company”) today announced that its Board of Directors has declared a cash dividend on the Company’s common stock. The Company also announced its current plan with respect to quarterly dividends for 2025.

DIVIDEND DECLARATION

NOG’s Board of Directors has declared a cash dividend in the amount of $0.42 per share, representing a 5% increase from the prior year’s quarterly dividend and the same level as the previous quarter. The dividend is payable on January 31, 2025, to stockholders of record as of the close of business on December 30, 2024.

2025 DIVIDEND PLAN

As previously stated, NOG plans to set dividend policy once per year, no later than the declaration date for the first quarter dividend of any given calendar year, with the potential for interim modifications driven by material changes in realized commodity prices, significant corporate actions or other events.

NOG currently anticipates increasing the next quarterly dividend to $0.45 per share, and maintaining that level throughout 2025, absent significant changes or events. If approved, total per share dividends declared in 2025 would increase ~10% versus 2024. Under Delaware law, the Board may not declare a dividend more than 60 days before the record date, and NOG can make no assurances that current dividend rates or any future dividends will be declared.

MANAGEMENT COMMENTS

“As NOG continues to grow, we believe that our investors deserve an increased portion of the Company’s cash flows in the form of shareholder returns,” commented Nick O’Grady, NOG’s Chief Executive Officer. “Our dividend policy demonstrates NOG’s superior total return model, supporting a double-digit annualized dividend increase alongside a prudent payout ratio and robust growth prospects.”

ABOUT NOG

NOG is a real asset company with a primary strategy of acquiring and investing in non-operated minority working and mineral interests in the premier hydrocarbon producing basins within the contiguous United States. More information about NOG can be found at www.noginc.com.