PetroTal (TAL) Investor presentation summary

Investment highlights and asset overview

• Largest oil producer in Peru with 110 mmbbls of 2P reserves and a $1.2 billion after-tax PV10 valuation.

• Over $675 million invested, 33 mmbbls produced, and $150 million returned to shareholders to date.

• 2026 production guidance is 12,000 bopd, with a target of over 20,000 bopd by 2027.

• 2026 adjusted EBITDA guidance is $110-120 million, with $80-90 million in capital expenditures.

• Market cap as of September 2026 is $360 million, with $105 million available cash at Q2 2026.

Production growth and operational strategy

• Eight-well drilling program resumes in Q4 2026, aiming for 20,000 bopd by mid-2027.

• Drilling rig secured, with first well spud expected October 2026; two wells to be drilled by year-end 2026.

• Water injection capacity to increase to 240,000 bwpd to support production growth.

• Wells typically pay back investment in 60-120 days at $80 Brent, enabling rapid reinvestment.

Asset performance and reserves

• Bretaña field has produced 33 million barrels since inception, with 19 horizontal wells drilled.

• 2P reserves at year-end 2025 are 106 mmbbls for Bretaña, supporting multi-year production plateau.

• Consistent well performance, with horizontal wells averaging 4,900 bopd IP90.

• 2P reserves of 110 mmbbls can sustain 20,000 bopd through 2041, with possible extension to 2051.