EXHIBIT 99.1

Evolution Petroleum Reports Fiscal Fourth Quarter and Full Year Fiscal 2026 Results

– Fiscal Q4 Net Income Rebounds from Q3 to $4.6 Million –

– Adjusted EBITDA More Than Doubles Sequentially to $6.5 Million –

HOUSTON, TX — September 15, 2026 (GLOBE NEWSWIRE) — Evolution Petroleum Corporation (NYSE American: EPM) ("Evolution" or the "Company") today announced its financial and operating results for its fiscal fourth quarter and full year ended June 30, 2026. On September 10, 2026, Evolution also declared its 17^th consecutive $0.12 cash dividend per common share, payable on September 30, 2026, marking its 52^nd consecutive quarterly cash dividend payment.

Financial & Operational Highlights

Permian/Midland Basin Mineral and Royalty Acquisition

Subsequent to quarter-end, on August 20, 2026, Evolution completed the acquisition of mineral and royalty interests (“M&R”) in the core Midland Basin ("Permian Minerals") for approximately $16.0 million. The acquired assets include approximately 3,420 net royalty acres across Reagan, Upton, Glasscock, Midland, and Martin Counties, Texas, and included 832 producing wells, 7 completed wells, 34 drilled but uncompleted wells ("DUCs"), 27 permitted wells, and approximately 1,257 upside locations increasing our exposure to high-

margin current production and future operator-led activity, with no development capital required net to Evolution. The acquisition was funded with $12.8 million of net proceeds from the Company’s concurrent public offering of 4.3 million common shares and $3.2 million of borrowings under its Senior Secured Credit Facility.

Management Comments

Kelly Loyd, President and Chief Executive Officer, commented: “Fiscal 2026 was another important year for Evolution as we broadened the portfolio with strategic acquisitions, maintained $0.48 per share in dividends, and increased proved reserves over and above the roughly 2.6 MMBOE we produced during the year. Underpinning our shareholder return strategy is the durability and continued renewal of our asset base. During the year, acquisitions and drilling activity from our non-operated and royalty assets added fresh sources of production and cash flow alongside our mature, long-life properties. Just as important, we finished the year with momentum. Many of the temporary items that weighed on fiscal Q3 rolled off as expected, and fiscal Q4 revenues rose 20% and Adjusted EBITDA more than doubled quarter over quarter.

"Continuing with the year-end momentum, we begin fiscal 2027 on a high note. We added another highly accretive acquisition, with the purchase of our Permian Minerals position, adding over 1,000 near- and long-term undeveloped drilling locations. This, combined with new operations at our recently added Louisiana minerals and royalty positions and ongoing activity across our existing portfolio of non-op working and mineral and royalty interests, fiscal 2027 is poised to benefit from fresh production adds from multiple, complementary sources.

“We continue to build Evolution into a more robust energy company with long-life producing properties and significant upside development from both our non-operated working interest assets and our recently added minerals and royalty positions. We now have meaningful mineral and royalty interests with a significant number of cost-free future drilling locations as well as attractive non-operated development locations in four of the top five most active basins in the U.S., by rig count (Permian, SCOOP/STACK, Williston, and Haynesville). This strategy of adding mineral and royalty interests creates more ways to add value and provides greater flexibility for capital allocation. We believe this combination presents a stronger model for Evolution and one we intend to keep advancing that will support our dividend and compound value for shareholders over time.”

Fiscal Fourth Quarter 2026 Financial Results

Total revenues increased 15% to $24.2 million compared to $21.1 million in the year-ago quarter. The change was driven primarily by a 20% increase in average realized equivalent prices, partially offset by a 4% decrease in average daily production.

Lease operating costs (“LOE”) increased to $12.8 million compared to $11.4 million in the year-ago quarter. The prior-year period included a $1.9 million credit from the operator of one of our Barnett Shale properties due to a joint venture audit. On a per-unit basis, as adjusted for the prior-year credit, LOE was $20.35 per BOE compared to $20.25 per BOE in the year-ago quarter.

Depletion, depreciation, and accretion expense was $5.6 million compared to $5.8 million in the year-ago period. On a per-BOE basis, the Company’s current quarter depletion rate was $8.29 per BOE, compared to $8.27 per BOE in the year-ago period.

General and administrative (“G&A”) expenses (excluding stock-based compensation) decreased to $1.8 million compared to $2.0 million in the year-ago quarter. On a per-BOE basis, G&A (excluding stock-based compensation) was $2.80 compared to $2.99 in the year-ago period.

The Company reported net income of $4.6 million, or $0.13 per diluted share, compared to $3.4 million, or $0.10 per diluted share, in the year-ago period. Higher revenues are primarily driven by increased realized pricing. Excluding the impact of selected items, which include net gains (losses) on the unrealized portion of hedges, the Company reported an adjusted net loss of $0.6 million, compared to adjusted net income of $1.1 million in the year-ago period.⁽¹⁾

Adjusted EBITDA was $6.5 million compared to $8.6 million in the year-ago quarter. The decrease was primarily due to realized losses on derivative contracts in the current-year period compared to realized gains on derivative contracts in the prior-year period.⁽²⁾

Production & Pricing

Total production for the fourth quarter of fiscal 2026 decreased to 6,901 net BOEPD compared to 7,198 net BOEPD in the year-ago period. Total production for the fourth quarter of fiscal 2026 included approximately 2,000 barrels per day (“BOPD”) of crude oil, 3,791 BOEPD of natural gas, and 1,110 BOEPD of NGLs. Fiscal 2025 fourth quarter benefited from flush production from new wells brought online during that quarter. The year-over-year change in production largely reflects these wells following their expected declines over fiscal 2026. Fiscal 2026 did benefit from higher production from SCOOP/STACK, driven by the August 2025 Minerals Acquisition and new-well activity, along with a contribution from M&R interests acquired in the Haynesville and Bossier shale in Louisiana.

The Company’s average realized commodity price (excluding the impact of derivative contracts) increased 20% to $38.55 per BOE in fiscal Q4, compared to $32.23 per BOE in the year-ago period.

Operations Update

At SCOOP/STACK, Evolution continued to benefit from its combination of working interests and M&R interests. Production remained strong while operating costs improved, reflecting the growing contribution from the minerals and royalty portfolio. Fiscal Q4 production averaged 1,275 BOEPD, up about 14% from the prior-year quarter, while LOE declined to $10.33 per BOE from $11.05 in the prior-year quarter. Third-party operators remain active around the Company’s acreage, providing continued development visibility, with ten gross working-interest wells brought online in fiscal 2026, and approximately ten already expected to be brought online in fiscal 2027 so far. During the year, across our combined SCOOP/STACK portfolio (working interests and M&R interests), our operators brought online 31 gross wells. As of July 31^st, we have an interest in 725

gross producing wells, 36 gross wells that have either been identified as Proved Undeveloped ("PUDs") or are already in various stages of drilling and completion, and over 360 additional gross locations.

In Louisiana, operator activity across the Haynesville and Bossier positions continues to progress, with wells moving through various stages of development and into production. As of July 31^st, the portfolio included approximately 90 producing gross wells, 16 wells in various stages of drilling or completion, 35 pre-permitted wells, and over 60 additional identified gross locations.

Operating performance at our TexMex assets in Louisiana, Texas and New Mexico continued to improve during the fiscal fourth quarter as workover and optimization activity progressed. The operator continues to identify opportunities to restore and enhance production from the existing well base, and the Company expects the TexMex assets to be an important contributor to the overall cash flow as those efforts continue.

At Chaveroo, production increased meaningfully during fiscal 2026, benefiting from a full year of production from the wells brought online during the fourth quarter of fiscal 2025. Average production increased to approximately 260 BOEPD from 175 BOEPD in fiscal 2025. The Company has secured six drilling permits and is in discussions with its partner regarding the timing of future drilling.

Across the Company’s legacy assets, the focus remains on maintaining base production, improving operating reliability, and pursuing selective drilling and workover opportunities. Operational issues that affected several properties earlier in fiscal 2026 improved as the year progressed.

Balance Sheet, Liquidity, and Capital Spending

On June 30, 2026, the Company had cash and cash equivalents of $6.1 million, outstanding borrowings of $56.5 million, and $0.8 million in letters of credit outstanding under its Senior Secured Credit Facility, and a weighted average interest rate of 6.69%. Availability under the facility was $7.7 million, bringing total liquidity to $13.9 million. In the fourth quarter of fiscal 2026, Evolution paid $4.3 million in common stock dividends, $1.7 million for minerals acquisitions, and incurred $1.5 million in capital expenditures. These cash outlays were partially offset by cash received of $3.1 million from its SCOOP/STACK non-core, non-producing mineral acreage divestiture. Evolution also received net proceeds of $1.0 million, net of $0.1 million of offering costs paid, from the sale of shares of common stock under its At-The-Market equity sales agreement. The Company had total net cash provided by operating activities of $6.8 million for the quarter.

On August 20, 2026, Evolution entered into a letter agreement with MidFirst Bank pursuant to which the borrowing base on the Company’s Senior Secured Credit Facility was temporarily increased from $65.0 million to $73.0 million from August 20, 2026 until October 20, 2026, unless redetermined earlier in accordance with the credit agreement. Pro forma for the Permian Minerals acquisition, after taking into account the common stock offering in August 2026, additional net borrowings of $3.2 million under our Senior Secured Credit Facility, and the temporary increase in the Company’s revolving borrowing base, Evolution had 40.2 million shares of common stock outstanding and total liquidity of approximately $19 million.

Cash Dividend on Common Stock

On September 10, 2026, Evolution's Board of Directors declared a cash dividend of $0.12 per share of common stock, payable on September 30, 2026, to common stockholders of record on September 21, 2026. This will be the 52^nd consecutive quarterly cash dividend on the Company's common stock since December 31, 2013. To

date, Evolution has returned approximately $151.7 million, or $4.53 per share, back to stockholders in common stock dividends.

Conference Call

As previously announced, Evolution Petroleum will host a conference call on Wednesday, September 16, 2026, at 10:00 a.m. CT to review its fiscal fourth quarter 2026 financial and operating results. Participants can join online at https://event.choruscall.com/mediaframe/webcast.html?webcastid=ai980iXu or by dialing (844) 481-2813. Dial-in participants should ask to join the Evolution Petroleum Corporation call. A replay will be available through September 15, 2027, via the provided webcast link and on Evolution's Investor Relations website at www.ir.evolutionpetroleum.com.

About Evolution Petroleum

Evolution Petroleum Corporation is an independent energy company focused on maximizing total shareholder returns through the ownership of and investment in working and royalty interests in onshore oil and natural gas properties in the U.S. The Company aims to build and maintain a diversified portfolio of long-life oil and natural gas properties through acquisitions, selective development opportunities, production enhancements, and other exploitation efforts. Visit www.evolutionpetroleum.com for more information.

Cautionary Statement

All forward-looking statements contained in this press release regarding the Company's current and future expectations, potential results, and plans and objectives involve a wide range of risks and uncertainties. Statements herein using words such as "anticipate," "believe," "expect," "may," "plans," "outlook," "should," "will," and words of similar meaning are forward-looking statements. Although the Company's expectations are based on business, engineering, geological, financial, and operating assumptions that it believes to be reasonable, many factors could cause actual results to differ materially from its expectations. The Company gives no assurance that its goals will be achieved. These factors and others are detailed under the heading "Risk Factors" and elsewhere in our periodic reports filed with the Securities and Exchange Commission ("SEC"). The Company undertakes no obligation to update any forward-looking statement.

Contact

Investor Relations

(713) 935-0122

ir@evolutionpetroleum.com

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Evolution Petroleum Corporation

Proved Reserves as of June 30, 2026

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Our proved reserves as of June 30, 2026, were estimated by our independent reservoir engineers, Cawley, Gillespie and Associates, Inc. and DeGolyer and MacNaughton, both worldwide petroleum consultants.

The SEC sets rules related to reserve estimation and disclosure requirements for oil and natural gas companies. These rules require disclosure of oil and natural gas proved reserves by significant geographic area, using the trailing 12-month average price, calculated as the unweighted arithmetic average of the first-day-of-the-month price for each month within the 12-month period prior to the end of the reporting period, rather than year-end prices, and allows the use of new technologies in the determination of proved reserves if those technologies have been demonstrated empirically to lead to reliable conclusions about reserve volumes. Subject to limited exceptions, the rules also require that proved undeveloped reserves may only be classified as such if a development plan has been adopted indicating that they are scheduled to be drilled within five years.

For more information on the Company's reserves, see our Supplemental Disclosure about Oil and Natural Gas Properties included on Form 10-K filed with the SEC for the year ended June 30, 2026.

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Evolution Petroleum Corporation

Condensed Consolidated Statements of Operations (Unaudited)

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Evolution Petroleum Corporation

Condensed Consolidated Balance Sheets (Unaudited)

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Evolution Petroleum Corporation

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Evolution Petroleum Corporation

Non-GAAP Reconciliation – Adjusted EBITDA (Unaudited)

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Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items are non-GAAP financial measures that are used as supplemental financial measures by our management and by external users of our financial statements, such as investors, commercial banks, and others, to assess our operating performance as compared to that of other companies in our industry, without regard to financing methods, capital structure, or historical costs basis. We use these measures to assess our ability to incur and service debt and fund capital expenditures. Our Adjusted EBITDA and Net income (loss) and earnings per share, excluding selected items, should not be considered alternatives to net income (loss), operating income (loss), cash flows provided by (used in) operating activities, or any other measure of financial performance or liquidity presented in accordance with U.S. GAAP. Our Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items may not be comparable to similarly titled measures of another company because all companies may not calculate Adjusted EBITDA and Net income (loss) and earnings per share excluding selected items in the same manner.

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We define Adjusted EBITDA as net income (loss) plus interest expense, income tax expense (benefit), depreciation, depletion, and accretion (DD&A), stock-based compensation, ceiling test impairment, and other impairments, unrealized loss (gain) on change in fair value of derivatives, and other non-recurring or non-cash expense (income) items.

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Evolution Petroleum Corporation

Non-GAAP Reconciliation – Adjusted Net Income (Unaudited)

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Evolution Petroleum Corporation

Supplemental Information on Oil and Natural Gas Operations (Unaudited)

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