Petroreconcavo Sa · BMFBOVESPA:RECV3
Petroreconcavo Sa — Investor Presentation (January 2026)
18 slides from Petroreconcavo Sa's investor presentation, January 2026
Slide 1: Institutional Presentation
Institutional Presentation Investor Relations IBOV IGPTW IDIV IDVR IBRX100 SMLL IBRA IGC IGC-NM ITAG IGCT
Slide 2: About us
About us One of the leading independent onshore oil and gas producers in Brazil Highlights¹ Rio Grande do Norte 9M25 Net Revenue 31 concessions US$ 434 MM 22 operated 9M25 EBITDA 03 exploration blocks 377 producing wells US$ 203 MM 07 municipalities 9M25 Free Cash Flow Generation2 37 neighboring com
Slide 3: More than 25 years of track record: from pioneers to key players
More than 25 years of track record: Strategic drivers from pioneers to key players Subsurface Management, Operational Reliability and Resilience, and IPO and Excellence in Execution Consolidation IPO and follow-on, 2026 Acquisitions of Remanso, Miranga and SPE Tiêta, and Beginning of Vertical rig fl
Slide 4: From strategy to execution
From strategy to execution transforming mature fields into new opportunities Remanso Cluster historical production (boe/d) 1st secondary recovery in the Remanso Cluster Initial unlock and Additional drilling and quick wins reservoir stimulation Water injection for Response to pandemic 8,000 repressu
Slide 5: Our track record shows consistent production and reserve replacement
Our track record shows consistent production and reserve replacement 2024 kboe/d 2P Reserves 183.8 (MMBOE) 40 2024 2P Certification Reserve Replacement Ratio (RRR)1 1.7 x 30 Future Reserves Development Cost2 US$ 7.6/boe PV103 US$ 2.7 B 20 1P/2P Reserves 79% Ratio4 10 Gas Reserves / total reserves5 4
Slide 6: Focus on operational continuity and project execution
Focus on operational continuity and project execution Average WI Production 9M25 Highlights (kboed) +1% 26,0 26,3 26,5 15 wells drilled, 180 workovers including 9 producing performed 21,3 wells 3% average 1 horizontal well drilled production growth and in completion phase 2022 2023 2024 2025 vs. 202
Slide 7: Progress in the Tiê development plan with an ongoing waterflooding program
Progress in the Tiê development plan with an ongoing waterflooding program Tiê Average Production (kboed) Including the new wells drilled by PetroReconcavo 5,1 4,6 3,9 4,0 3,6 2,3 2,5 2,7 2,2 2,1 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 Waterflooding 12.000 8.000 4.000 0 Waterflooding - BWI
Slide 8: First deep wells drilling and appraisal campaign in Bahia completed
First deep wells drilling and appraisal campaign in Bahia completed Biriba-20 Next steps Depth: 3,560 m Identified zones: 4 Current production1: Stimulation completed in October Hydrocarbons with Gas zones Potential to unlock original reservoir validated additional reserves Jacuípe-44 pressure Depth
Slide 9: Natural gas midstream: strategy for efficiency, resilience and operational strength
Natural gas midstream: strategy for efficiency, resilience and operational strength UTG São Roque UPGN Guamaré São Roque Gas Treatment Unit Acquisition of 50% of Brava’s Gas (UTG) in operation, enhancing Midstream Assets in Guamaré, efficiency in natural gas processing generating value and reducing
Slide 10: Contract with Dislub: advancing new oil transportation and commercialization routes
Contract with Dislub: advancing new oil transportation and commercialization routes in Rio Grande do Norte Pecém Port: an alternative to overcome logistics bottlenecks International market ▪ Contract with Dislub for storage at ▪ Implementation in two phases: Port of Pecém the Pecém Industrial and Po
Slide 11: Financial strength with a robust breakeven cash cost
Financial strength with a robust breakeven cash cost Net Revenue¹ (US$ Million) EBITDA (US$ Million) and EBITDA Margin¹ (%) 500 80% 563 606 450 70% 50% 47% 45% 400 60% 434 305 350 50% 256 300 40% 203 250 30% 200 20% 150 10% 100 00% 2023 2024 9M25 2023 2024 9M25 Série1 Margem Lifting Cost (US$ Millio
Slide 12: Continued capital management and cost reduction, with an additional debenture issuance in 4Q25
Continued capital management and cost reduction, with an additional debenture issuance in 4Q25 3Q25 Debt leverage, cost and duration 4th Issue of Debentures | Dec/20251 0.69x 0.80x 1.00x 12 8,95% 10, 00% 6,74% 9,0 0% R$ 750 million 6,51% 10 8,0 0% 7,0 0% 8 6,0 0% 6 4,2 3,8 5,0 0% 4,0 0% 1,6 4 3,0 0%
Slide 13: Strategic leadership reorganization
Strategic leadership reorganization José Firmo CEO Troy Finney João Vitor Moreira Rafael Cunha Felipe Araujo Dennys Campos VP of Portfolio VP of Operations - COO VP of Finance, M&A & IR - CFO VP of People & Operational VP Rigs Development Support and Services Stenio Tavares Lucas Neves Marília Nogue
Slide 14: The Board of Directors is composed of members with extensive experience in oil & gas and capital markets
The Board of Directors is composed of members with extensive experience in oil & gas and capital markets Board of Directors Advisory Committees Shareholding Structure January 15, 2026 Chairman: Eduardo Azevedo Independent member with over 20 years of experience in Board of Directors finance and capi
Slide 15: Our socioeconomic impact
Our socioeconomic impact Driving revitalization and social transformation 2024 business impact Education Improving formal Education 17 municipalities education “Educar PRa Valer” (Mata de São João and Pojuca - BA) + complementary • “Ciranda Viva” (BA) • “Virando o Jogo (RN) RN +650,000 people in mun
Slide 16: Governance with ethics and transparency
Governance with ethics and transparency Ensuring best practices internally and throughout the value chain Ethics and Integrity Transparency Networking • Sustainability Report • ABPIP • Integrity Program • IBP • Transparency Channel • CDP and S&P • ANP • UN Global Compact • Supplier Due Diligence • I
Slide 17: Investing in PetroReconcavo: Resilience and sustainable return
Investing in PetroReconcavo: Resilience and sustainable return Strong balance sheet and capital discipline Strong discipline in capital Operational excellence and allocation, delivering high expertise returns to shareholders Experienced and committed Solid balance sheet with the management team, wit
Slide 18: ri.petroreconcavo.com.br
Reserves Report 2024 3Q25 Sustainability Report 2024 Earnings Release Investor Relations ri.petroreconcavo.com.br
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