Petroreconcavo Sa · BMFBOVESPA:RECV3
Petroreconcavo Sa — Investor Presentation (August 2026)
20 slides from Petroreconcavo Sa's investor presentation, August 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 oil and gas producers in the Brazilian onshore 1H26 Highlights Net revenue Rio Grande do Norte 32 owned concessions R$ 1.5 bi 23 operated concessions EBITDA 03 exploration blocks 415 producing wells R$ 706 MM Net debt R$ 1.4 bi Leverage of 1.01x Bahia and Serg
Slide 3: Pioneering and a 26-year track record
Pioneering and a 26-year track record Strategic drivers Subsurface Management, Operational Reliability and IPO and Resilience, and Consolidation Excellence in Execution IPO and follow-on, 2026 Acquisitions of Remanso, Miranga and SPE Tiêta (Bahia), and rig fleet Beginning of Vertical expansion Integ
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 9,000 Initial unlock and Additional drilling and quick wins reservoir stimulation 8,000 7,000 Water injection for Response to pande
Slide 5: Production aligned with the execution of the development plan and long-term value generation
Production aligned with the execution of the development plan and long-term value generation 38.0 Average production (kboe/day) 57% Activities performed 33.0 52% 1S26 2025 28.0 47% 23.0 18.0 42% Workovers 106 232 26.3 26.5 66 in Potiguar Asset 155 in Potiguar Asset 13.0 26.0 24.2 21.3 37% 40 in Bahi
Slide 6: Focus on water injection projects to reduce decline rates
Focus on water injection projects to reduce decline rates Water injection volume1 7 Tiê + 40% Sabiá da Mata + 626% fields with new water Sabiá Bico de Osso + 271% injection projects Other projects at different implementation stages Water injection impacts . Technical Economic ▪ Pressure support and
Slide 7: New long-term contract with Brava in Rio Grande do Norte
New long-term contract with Brava in Rio Grande do Norte Greater outflow flexibility, predictability and efficiency gains in oil commercialization Brava Energia Port of Pecém ▪ New contract effective from Oct/2026 ▪ Logistics and commercial to Dec/2030 diversification ▪ Minimum mutual commitment for
Slide 8: Net revenue growth supported by higher Brent prices
Net revenue growth supported by higher Brent prices Net Revenue (R$ Million) Realized price 1Q26 2Q26 1Q26 2Q26 Oil¹ (US$/bbl) 63.40 +25% 79.50 -1% Production (kboed) 24.4 24.1 Gas² (US$/MMBTU) 9.36 +10% 10.26 +28% Dated Brent (US$/bbl) 81.13 103.85 Average realization (US$/boe) 60.10 +19% 71.50 +23
Slide 9: Oil Hedge
Oil Hedge Volumes and average prices 1,500 80.00 69.75 69.75 69.75 64.31 1,300 70.00 64.54 62.96 62.81 63.02 63.19 63.08 63.27 64.09 1,100 60.00 60 60 60 733 733 900 50.00 546 540 546 552 552 700 40.00 364 500 30.00 273 273 300 184 184 20.00 100 10.00 (100) 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 1Q28 2Q
Slide 10: Continuous reduction of operational and administrative costs and expenses
Continuous reduction of operational and administrative costs and expenses Total Costs and Expenses (R$ Million) Operating and Administrative Costs and Expenses (R$ Million) +10% 15.82 16.80 433 436 450 15.52 409 13.88 14.32 16.00 15 31 374 412 400 24 21 27 -3% 14.00 44 16 350 335 333 59 52 20 5 44 2
Slide 11: EBITDA and margin expansion, with efficient Capex allocation
EBITDA and margin expansion, with efficient Capex allocation EBITDA (R$ Million) and EBITDA Margin (%) 2Q26 Netback¹ (US$/boe) 50.3% 51. 0% 49.0% 2,1 00 Net Revenue: US$ 71.50 2,0 00 51. 0% 49. 0% 45.4% 45.7% 1,8 00 47. 0% 45.3% 49. 0% 1,6 00 1,6 00 47. 0% 45.1,4 0%00 45. 0% 1,2 00 43. 0% 1,1 00 1,0
Slide 12: Solid cash generation and low leverage with shareholder returns
Solid cash generation and low leverage with shareholder returns Free Cash Generation 1 (R$ Million) Earnings (R$ Million) 146 95 100 72 72 38 15 100 - 58 80 74 38 14 3Q25 4Q25 1Q26 2Q26 100 100 100 2026 2027 2028 Interest Rate and Debenture Swap Effects Free Cash Generation ex. Midstream Dividends t
Slide 13: Leadership team composed of specialists with complementary experience
Leadership team composed of specialists with complementary experience José Firmo CEO Troy Finney João Vitor Moreira Rafael Cunha Raphael Scudino Dennys Campos VP for Portfolio VP for VP for Finance, M&A & IR - CFO VP for People & Operational VP for Rigs Development Operations Support and Services St
Slide 14: Board of Directors composed of members with extensive experience in oil & gas and capital markets
Board of Directors composed of members with extensive experience in oil & gas and capital markets Board of Directors Advisory Committees Shareholding composition June 30, 2026 Experience in Finance Board of and Capital Markets: Directors Reference Investors Tiago Noel | Chairman Financial Other Cami
Slide 15: 5th Sustainability Report Disclosure
5th Sustainability Report Disclosure 21 thousand Social 75% 29 people (BA/RN) directly and of the municipalities with women empowered to work indirectly impacted by social social projects, in 40 in the energy sector by the projects (+21% vs. 2024) neighboring communities Women in Oil and Gas project
Slide 16: Investing in PetroReconcavo: Resilience and sustainable return
Investing in PetroReconcavo: Resilience and sustainable return Strong balance sheet and capital discipline Operational excellence Strong discipline in capital and expertise allocation, delivering high Experienced and committed returns to shareholders management team, with strong Healthy balance shee
Slide 17: Investor Relations
Investor Relations ri.petroreconcavo.com.br
Slide 18: Case: Secondary Recovery Mata de São João
18 0 200 400 600 800 1000 1400 1600 1800 2000 1200 12/31/1989 10/31/1990 08/31/1991 06/30/1992 Oil 04/30/1993 02/28/1994 12/31/1994 10/31/1995 08/31/1996 06/30/1997 04/30/1998 02/28/1999 12/31/1999 10/31/2000 Injected Water 08/31/2001 2000 Block 1 - Água Grande 06/30/2002 04/30/2003 02/29/2004 12/31
Slide 19: 2025 reserves certification
2025 reserves certification Reserves growth driven by new projects 2025¹ 2P Reserves kboe/d (MMBOE) 182.2 Reserve Replacement 2025 2P Certification Ratio (RRR)² 1.0 x 40 Future Reserves 2025 1P Certification Development Cost³ US$ 8.4/boe 30 PV104 US$ 2.4 B 1P/2P5 Reserves Ratio 79% 20 Gas Reserves/
Slide 20: Reserve replacement with higher long-term recovery factors
Reserve replacement with higher long-term recovery factors 2P Reserves (MMBOE) and Replacement Ratio (RRR) Recovery factors with potential for expansion RRR ~ 1.0 x 2025 EUR¹ Benchmark 9.3 Oil 22% 27% 30-35% 183.8 182.6 182.2 54% 74% 85-90% (1.2) Gas (9.6) Reserve to Production (R/P) Current reserve