Parex Resources (PXT) Investor Presentation summary

Company overview and strategy

• Leading Colombian oil and gas producer with a sustainable portfolio and long-term growth focus.

• Operates exclusively in Colombia, targeting underexplored onshore gas plays and leveraging proven technology.

• Maintains strong partnerships, notably with Ecopetrol, and a top-tier ESG performance.

• Holds 5.9 million net acres and averaged 43,658 boe/d in Q1 2025.

• Oil sales are paid in USD, benefiting from Brent reference pricing and top decile cash flow per BOE among TSX peers.

Portfolio evolution and exploration

• Continually manages risk and opportunity, high-grading exploration in Llanos Foothills and adding Farallones prospect.

• Unlocks 5.9 million net acres, including 18 blocks from 2021, with prospects offering higher success rates and lower risk.

• Acquired Putumayo redevelopment, adding a low-risk development platform and applying enhanced recovery technologies.

• Balanced portfolio with strong risk/reward across base assets, development, and exploration.

2025 activity plan and capital allocation

• 2025 plan features diversified, lower-risk capital program with production growth in H2 2025.

• Key activities include drilling at VIM-1 Hidra, initial access at Farallones, and redevelopment in Putumayo.

• Near-field exploration targets ~6 wells, focusing on higher success prospects in Southern Llanos.

• Capital allocation prioritizes sustainability, with $285–315M in expenditures and $105M in dividends planned.

• Maintains an unleveraged balance sheet and flexibility to adjust capital deployment based on commodity prices.