Northern Oil and Gas closes $200M add-on 3.625% convertible notes offering

NORTHERN OIL & GAS, INC.

Issued $200M aggregate principal of 3.625% Convertible Senior Notes due 2029, including $25M option exercised by initial purchasers.
Notes issued at 105.597% of principal; conversion price ~$37.06 per share, representing a ~19% premium over last sale.
Entered capped call transactions to reduce dilution, with cap price ~$50.87 per share, 63% above June 12, 2025 closing.
Notes are additional series under existing $500M 3.625% notes indenture; trade as one class with identical terms after de-legending.
Obtained revolving credit facility waiver to avoid automatic borrowing base reduction upon offering consummation.

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