Petroreconcavo (RECV3) Investor presentation summary

Business overview and operational highlights

• Leading independent onshore oil and gas producer in Brazil with 32 owned and 23 operated concessions in Rio Grande do Norte, and 25 operated concessions in Bahia and Sergipe.

• 415 producing wells in RN and 326 in BA/SE, with 24.2 kboed production and 182.2 MMboe 2P reserves as of 1H26.

• Net revenue reached R$ 1.5 billion, EBITDA R$ 706 million, and net debt R$ 1.4 billion with leverage at 1.01x.

• Paid R$ 200 million in JCP in 2026, with additional dividends declared for future years.

Strategic development and production growth

• Track record of 26 years, pioneering mature field revitalization and vertical integration.

• Growth driven by acquisitions, vertical integration, and operational excellence, including deep and horizontal well drilling.

• Production history shows steady growth through cluster acquisitions and development plans.

• Water injection projects implemented in seven fields, increasing recovery and reducing decline rates.

Commercial and financial performance

• New long-term contract with Brava Energia (2026–2030) for 50% of production, enhancing outflow flexibility and international market access.

• Net revenue growth supported by higher Brent prices, improved product mix, and better commercial terms.

• Oil hedging strategies in place, with significant volumes hedged at favorable prices, impacting both revenue and financial results.

• Operational and administrative costs reduced, with lower G&A and midstream expenses.

• EBITDA margin expanded to 50.3% in 2Q26, with disciplined Capex allocation and breakeven cash cost at US$ 30.85/boe.