Arrow Exploration (AXL) Corporate presentation summary

Operational highlights

• Achieved significant production growth since 2020, with over 4,500 boe/d net production as of early 2026.

• Drilled 39 wells and built 26.6 km of roads, with 10% of all Colombian wells in 2024 (excluding Ecopetrol).

• Five producing zones across multiple fields, with cumulative Tapir production of 7.9 million barrels.

• Horizontal well program at Carrizales Norte delivers high initial rates and low decline, supporting long-term output.

• Employed over 5,000 local community members and implemented multiple environmental initiatives.

Asset portfolio and reserves

• Core assets in Colombia's Llanos Basin, including Tapir, Santa Isabel, Alberta, and Ombu, with 2P reserves of 13.62 million barrels.

• Tapir Block holds 50% WI, 65,154 gross acres, and 2024 year-end 3P reserves of 27.9 MMbbls gross (13.9 MMbbls net).

• Multiple producing fields: Carrizales Norte, RCE, Alberta, and Mateguafa, each with multi-zone potential.

• 2024 independent reserve evaluation values 2P reserves at $285 million and 3P at $445 million.

• Brent price assumptions range from $76.50/bbl in 2025 to $85.17/bbl in 2030.

Development and exploration strategy

• Ongoing horizontal drilling in Carrizales Norte and Mateguafa, with proven high IRR and scalable model.

• 2026 plan includes Mateguafa Attic development, Icaco exploration, CN North HZ development, and RCE development.

• Drill-ready prospects identified: Icaco, Oxbow, Macoya, Capullo, targeting both development and exploration.

• Tapir Block contract expires in 2028, with two 5-year extension options; all extension obligations fulfilled and under discussion.

• Water disposal infrastructure supports production growth up to 6,000–7,000 bopd without further investment.