Parex Resources (PXT) investor relations material

Strategic positioning and growth

• Focused exclusively on Colombia, with a large onshore portfolio and a proven track record since 2009.

• Recent acquisitions, including Frontera and Magdalena assets, have created the largest independent E&P in Colombia.

• Land position expanded to 7.9 million acres, supporting a robust exploration funnel.

• Integration of new assets is expected to deliver operational synergies and scale.

• Strategy emphasizes technology application, risk-managed exploration, and disciplined capital allocation.

Financial and operational guidance

• H2 2026 production guidance is 82,000–91,000 boe/d, nearly double prior levels.

• Funds flow from operations projected at $475–525 million, with capital expenditures of $275–295 million.

• Quarterly dividend set at C$0.385 per share, yielding 6.4%.

• Maintains a strong balance sheet with a medium-term net debt/EBITDA target of ≤0.5x.

• Over C$2 billion returned to shareholders since 2018, reducing share count by over 40%.

Portfolio and asset development

• Base business anchored by assets like Cabrestero and LLA-34, leveraging waterflood and polymer injection to flatten declines.

• Magdalena acquisition adds stable, cash-generating production with significant oil in place and upside potential.

• Orito block in Putumayo offers over 1.7 billion barrels OOIP, with horizontal drilling and waterflood pilots underway.

• Near-field exploration delivers strong well performance and quick paybacks.

• Foothills exploration targets world-class prospects with high success probability and transformational growth potential.