Table of Contents Table of Contents 2 List of Tables 4 List of Figures 5 Company Snapshot 7 Key Information 7 Company Overview 7 Evolution Petroleum Corporation, Valuation and Financial Data, 2011-2015 8 Evolution Petroleum Corporation, Share Price Performance, 2011-2015 8 Share Price Performance, 2011-2015 8 Key Valuation Metrics, 2011-2015 9 Evolution Petroleum Corporation, Production and Reserves Trends 10 Total Oil and Gas, Reserves and Production 10 Total Crude Oil and Natural Gas Production and Reserves Trend, 2011-2015 10 Total Crude Oil & Natural Gas Production and Reserves By Country/Region, 2011-2015 12 Total Crude Oil and Natural Gas Reserve Changes, 2011-2015 14 Crude Oil/Liquids Production and Reserve 15 Crude Oil/Liquids Production and Reserve Trend, 2011-2015 15 Crude Oil Production and Reserves By Country/Region, 2011-2015 16 Crude Oil/Liquids Reserve Changes, 2011-2015 18 Natural Gas Production and Reserve 19 Natural Gas Production and Reserve Trend, 2011-2015 19 Natural Gas Production and Reserves, By Country/Region, 2011-2015 20 Natural Gas Reserve Changes, 2011-2015 22 Total Crude Oil and Natural Gas Reserves Life Index 23 Total Crude Oil and Natural Gas Reserves Life Index, 2011-2015 23 Total Crude Oil and Natural Gas Reserves Life Index, By Country/Region, 2011-2015 24 Evolution Petroleum Corporation, E&P Costs Trends 26 Allocation of the Upstream Capital Expenditure 26 Upstream Capital Expenditure, 2011-2015 26 Exploration and Development Costs, By Country/Region, 2011-2015 27 Oil and Gas Cost Per boe, US$/boe 29 Oil and Gas Cost Per boe, US$/boe, 2011-2015 29 Oil and Gas Cost Per boe, US$/boe, By Country/Region, 2011-2015 31 Evolution Petroleum Corporation, Reserve Replacement Ratio 33 Oil and Gas Production Replacement Ratio 33 Oil and Gas Production Replacement Ratio, 2011-2015 33 Oil and Gas Production Replacement Ratio, By Country/Region, 2011-2015 35 Evolution Petroleum Corporation, Results of Oil & Gas Operations Trend 39 Oil and Gas Revenue and Expenses 39 Oil and Gas Revenue and Expenses, 2011-2015 39 Oil and Gas Revenue and Expenses, By Country/Region, 2011-2015 40 Oil and Gas Revenue and Expenses, Per boe 45 Oil and Gas Revenue and Expenses, By boe, 2011-2015 45 Oil and Gas Revenue and Expenses Per boe, By Country/Region, 2011-2015 46 Oil and Gas Performance Metrics 50 Evolution Petroleum Corporation, Land Holdings and Well Data 51 Developed and Undeveloped Acreage 51 Gross and Net Developed and Undeveloped Acreage, 2011-2015 51 Gross and Net Developed and Undeveloped Acreage, By Country/Region, 2011-2015 52 Well Statistics 55 Producible Oil and Gas Well, 2011-2015 55 Producible Oil and Gas Well, By Country/Region, 2011-2015 56 Exploration and Development Wells Drilled, 2011-2015 58 Recent Developments 59 Evolution Petroleum Corporation - Recent Developments 59 Apr 13, 2016: Evolution Petroleum Announces New Reserve-Based Credit Facility 59 Feb 03, 2016: Evolution Petroleum Announces Results For The Quarter Ended December 31, 2015 And Declares Dividends On Common And Preferred Stock 59 Jan 25, 2016: FTTN: Smaller Producers Could Make Good Targets For Enhanced Oil Recovery 62 Jan 05, 2016: FTTN: Enhanced Oil Recovery Advances Spell Opportunity In Today’s Low Price Environment 62 Dec 09, 2015: Evolution Petroleum Announces Executive Appointments, Separation Of GARP Operations And Results Of Annual Shareholder Meeting 63 Nov 04, 2015: Evolution Petroleum Announces Financial And Operating Results For Quarter Ended September 30, 2015 65 Sep 09, 2015: Evolution Petroleum Announces Financial Results For Fiscal Year 2015 67 Aug 17, 2015: Evolution Petroleum Reports Reserves As Of June 30, 2015 And Declares $0.05 Dividend Per Share Of Common Stock 70 May 06, 2015: Evolution Petroleum Announces Financial And Operating Results For Quarter Ended March 31, 2015 72 Mar 30, 2015: Evolution Petroleum Provides Operations Update 74 Appendix 75 Methodology 75 Coverage 75 Secondary Research 75 Primary Research 75 Data Information Sources 76 Company Source 76 SEC/Other Regulatory Filings 76 Other Sources 76 Expert Panel Validation 76 Data Definition 76 Oil and Gas Reserves 76 Units of Measure 77 About GlobalData 77 Disclosure 77 Disclaimer 77

List of Tables Table 1: Evolution Petroleum Corporation, Key Facts 7 Table 2: Evolution Petroleum Corporation, Share Price Performance, 2011-2015 8 Table 3: Evolution Petroleum Corporation, Key Valuation Metrics, 2011-2015 9 Table 4: Evolution Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 11 Table 5: Evolution Petroleum Corporation, Total Crude Oil & Natural Gas Production and Reserves, By Country/Region, mmboe, 2011-2015 13 Table 6: Evolution Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2011-2015 14 Table 7: Evolution Petroleum Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 15 Table 8: Evolution Petroleum Corporation, Crude Oil Production and Reserves, By Country/Region, mmbbl, 2011-2015 17 Table 9: Evolution Petroleum Corporation, Crude Oil Reserve Changes, mmbbl, 2011-2015 18 Table 10: Evolution Petroleum Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 19 Table 11: Evolution Petroleum Corporation, Natural Gas Production and Reserves, By Country/Region, bcf, 2011-2015 21 Table 12: Evolution Petroleum Corporation, Natural Gas Reserve Changes, bcf, 2011-2015 22 Table 13: Evolution Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 23 Table 14: Evolution Petroleum Corporation, Oil and Gas Reserves Life Index, By Country/Region, Years, 2011-2015 25 Table 15: Evolution Petroleum Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 26 Table 16: Evolution Petroleum Corporation, Exploration and Development Costs, By Country/Region, US$ mil, 2011-2015 28 Table 17: Evolution Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 30 Table 18: Evolution Petroleum Corporation, Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, By Country/Region, 2011-2015 32 Table 19: Evolution Petroleum Corporation, Oil and Gas Production Replacement Ratio, %, 2011-2015 33 Table 20: Evolution Petroleum Corporation, 3-Year Wt.Avg. Oil and Gas Production Replacement Ratio, By Country/Region, %, 2011-2015 38 Table 21: Evolution Petroleum Corporation, Revenue and Expenses, US$ mil, 2011-2015 39 Table 22: Evolution Petroleum Corporation, Revenue and Expenses, By Country/Region, US$ mil, 2011-2015 44 Table 23: Evolution Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 45 Table 24: Evolution Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, By Country/Region, 2011-2015 49 Table 25: Evolution Petroleum Corporation, Oil and Gas Performance Metrics, 2011-2015 50 Table 26: Evolution Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 51 Table 27: Evolution Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), By Country/Region, Acres, 2011-2015 54 Table 28: Evolution Petroleum Corporation, Producible Oil and Gas Wells, 2011-2015 55 Table 29: Evolution Petroleum Corporation, Producible Oil and Gas Wells, By Country/Region, 2011-2015 57 Table 30: Evolution Petroleum Corporation, Exploratory and Developed Wells, 2011-2015 58 List of Figures Figure 1: Evolution Petroleum Corporation, Share Price Performance, USD/Share, 2011-2015 8 Figure 2: Evolution Petroleum Corporation, Key Valuation Metrics, EV/Production ($/boed), EV/Proved Reserve (US$/boe), 2011-2015 9 Figure 3: Evolution Petroleum Corporation, Total Crude Oil and Natural Gas, Production and Reserves, mmboe, 2011-2015 10 Figure 4: Evolution Petroleum Corporation, Total Oil & Gas Reserves, End of Period, By Country/Region, mmboe, 2011-2015 12 Figure 5: Evolution Petroleum Corporation, Total Oil & Gas Production, By Country/Region, mmboe, 2011-2015 12 Figure 6: Evolution Petroleum Corporation, Total Crude Oil and Natural Gas Reserve Changes, mmboe, 2015 14 Figure 7: Evolution Petroleum Corporation, Crude Oil Production and Reserves Metrics, mmbbl, 2011-2015 15 Figure 8: Evolution Petroleum Corporation, Oil Reserves, End of Period, By Country/Region, mmbbl, 2011-2015 16 Figure 9: Evolution Petroleum Corporation, Oil Production, By Country/Region, mmbbl, 2011-2015 16 Figure 10: Evolution Petroleum Corporation, Crude Oil Reserve Changes, mmbbl, 2015 18 Figure 11: Evolution Petroleum Corporation, Natural Gas Production and Reserves Metrics, bcf, 2011-2015 19 Figure 12: Evolution Petroleum Corporation, Gas Reserves, End of Period, By Country/Region, bcf, 2011-2015 20 Figure 13: Evolution Petroleum Corporation, Gas Production, By Country/Region, bcf, 2011-2015 20 Figure 14: Evolution Petroleum Corporation, Natural Gas Reserve Changes, bcf, 2015 22 Figure 15: Evolution Petroleum Corporation, Oil and Gas Reserves Life Index, Years, 2011-2015 23 Figure 16: Evolution Petroleum Corporation, Gas Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 17: Evolution Petroleum Corporation, Oil & Gas Reserve Life Index, By Country/Region, Years, 2011-2015 24 Figure 18: Evolution Petroleum Corporation, Oil Reserve Life Index, By Country/Region, Years, 2011-2015 25 Figure 19: Evolution Petroleum Corporation, Upstream Capital Expenditure, US$ mil, 2011-2015 26 Figure 20: Evolution Petroleum Corporation, Development Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 21: Evolution Petroleum Corporation, Exploration Costs, By Country/Region, US$ mil, 2011-2015 27 Figure 22: Evolution Petroleum Corporation, 3-Year Wt.Avg., Reserves Replacement, Finding and Development Costs, Finding Cost and Proved Acquisition Costs Per boe, US$/boe, 2011-2015 29 Figure 23: Evolution Petroleum Corporation, Oil & Gas Finding & Development Cost/boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 31 Figure 24: Evolution Petroleum Corporation, Oil & Gas Finding Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 31 Figure 25: Evolution Petroleum Corporation, Reserve Replacement Cost per boe, 3-Year Average, By Country/Region, US$/boe, 2011-2015 32 Figure 26: Evolution Petroleum Corporation, 3-Year Wt.Avg., Oil and Gas Production Replacement Ratio, %, 2011-2015 33 Figure 27: Evolution Petroleum Corporation, 3-Year Wt. Avg. Gas F&D Production Replacement, By Country/Region, %, 2011-2015 35 Figure 28: Evolution Petroleum Corporation, 3-Year Wt. Avg. Gas RRC Production Replacement, By Country/Region, %, 2011-2015 35 Figure 29: Evolution Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas F&D Production Replacement, By Country/Region, %, 2011-2015 36 Figure 30: Evolution Petroleum Corporation, 3-Year Wt. Avg. Oil & Gas RRC Production Replacement, By Country/Region, %, 2011-2015 36 Figure 31: Evolution Petroleum Corporation, 3-Year Wt. Avg. Oil F&D Production Replacement, By Country/Region, %, 2011-2015 37 Figure 32: Evolution Petroleum Corporation, 3-Year Wt. Avg. Oil RRC Production Replacement, By Country/Region, %, 2011-2015 37 Figure 33: Evolution Petroleum Corporation, Revenue and Expenses, US$ mil, 2011-2015 39 Figure 34: Evolution Petroleum Corporation, Depreciation, Depletion and Amortization From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 40 Figure 35: Evolution Petroleum Corporation, Income Tax Provision (Benefit) From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 40 Figure 36: Evolution Petroleum Corporation, Net Income/ Loss From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 41 Figure 37: Evolution Petroleum Corporation, Oil & Gas Revenue, By Country/Region, US$ mil, 2011-2015 41 Figure 38: Evolution Petroleum Corporation, Profit (loss) Before Taxation From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 42 Figure 39: Evolution Petroleum Corporation, Production Costs, By Country/Region, US$ mil, 2011-2015 42 Figure 40: Evolution Petroleum Corporation, Total Expenses From Upstream Oil & Gas Operations, By Country/Region, US$ mil, 2011-2015 43 Figure 41: Evolution Petroleum Corporation, Oil and Gas Revenue and Expenses, US$/boe, 2011-2015 45 Figure 42: Evolution Petroleum Corporation, Income Tax/(Benefit) per boe, By Country/Region, US$/boe, 2011-2015 46 Figure 43: Evolution Petroleum Corporation, Lifting Cost per boe, By Country/Region, US$/boe, 2011-2015 46 Figure 44: Evolution Petroleum Corporation, Annual Net Income per boe, By Country/Region, US$/boe, 2011-2015 47 Figure 45: Evolution Petroleum Corporation, Oil & Gas Revenue per boe, By Country/Region, US$/boe, 2011-2015 47 Figure 46: Evolution Petroleum Corporation, Total DD&A per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 47: Evolution Petroleum Corporation, Total Revenue per boe, By Country/Region, US$/boe, 2011-2015 48 Figure 48: Evolution Petroleum Corporation, Oil and Gas Performance Metrics, 2011-2015 50 Figure 49: Evolution Petroleum Corporation, Land Holdings (Developed and Undeveloped Acreage), Acres, 2011-2015 51 Figure 50: Evolution Petroleum Corporation, Total Gross Undeveloped Acreage, By Country/Region, Acres, 2011-2015 52 Figure 51: Evolution Petroleum Corporation, Total Net Undeveloped Acreage, By Country/Region, Acres, 2011-2015 52 Figure 52: Evolution Petroleum Corporation, Total Gross Developed Acreage, By Country/Region, Acres, 2011-2015 53 Figure 53: Evolution Petroleum Corporation, Total Net Developed Acreage, By Country/Region, Acres, 2011-2015 53 Figure 54: Evolution Petroleum Corporation, Producible Oil and Gas Wells, 2011-2015 55 Figure 55: Evolution Petroleum Corporation, Gross Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 56 Figure 56: Evolution Petroleum Corporation, Net/Gross Oil & Gas Ratio, By Country/Region, %, 2011-2015 56 Figure 57: Evolution Petroleum Corporation, Net Productive Oil & Gas Wells, By Country/Region, Number, 2011-2015 57 Figure 58: Evolution Petroleum Corporation, Exploratory and Developed Wells, 2011-2015 58