GeoPark (GPRK) Corporate presentation summary

Strategic growth and operational highlights

• Achieved transformational portfolio reset with 2025 production at 28,233 boepd and revenues of $493M, maintaining a 56% EBITDA margin and $13.2/boe operating costs.

• Vaca Muerta acquisition now represents 30% of 2P reserves, driving a 38% increase in 2P reserves to 121.3 MMboe and extending reserve life index to 12.7 years.

• 2026 work program targets 27-30 kboepd production, $190-220M capex, and $220-300M EBITDA, with medium-term production guidance of 32-34 kboepd and capex rising to $350-380M by 2028.

• Llanos 34 and CPO-5 blocks focus on enhanced recovery, polymer expansion, and high-efficiency operations, with Llanos 123 ramping from discovery to over 5,000 boepd in two years.

• Vaca Muerta positioned as a core shale asset, targeting a production plateau above 20,000 boepd by 2030, leveraging a lean, scalable operating model and factory drilling.

Financial performance and capital allocation

• Adjusted EBITDA reached $277M in 2025, with a 1.6x net debt/EBITDA ratio and $100M cash at year-end.

• Capital efficiency initiatives in Llanos 34 reduced drilling times and costs, while OPEX in Colombia remains below $15/boe, outperforming peers.

• Free cash flow expected to turn positive post-2028 investment peak, with cumulative FCF of $350-380M (2029-2030) and $900-950M (2031-2035), and OCF break-even Brent at $35-40.

• Net debt projected to remain below 1x EBITDA through 2030, supported by strong self-funding and diversified capital market access.

• Proactive hedging program covers 85% of 2026 production and 30% of 2027, ensuring cash flow predictability and disciplined risk management.

Portfolio resilience and shareholder returns

• Nearly all production is resilient at breakeven prices below $60/bbl, with 99% of output covered at this threshold.

• Vaca Muerta underpins growing value, with adjusted EBITDA margins of 55-60% and ROACE rising to 22-26% by 2030.

• Over $320M distributed to shareholders since 2018 via dividends and buybacks; dividend suspension possible from 3Q2026 to fund Vaca Muerta growth.

• Strong credit profile with B+ rating, over $2.5B raised since 2010, and average debt maturity exceeding reserve life.

• Commitment to operational safety, efficiency, and sustainability integrated into long-term value creation.