Geopark Ltd · NYSE:GPRK
Geopark — Investor Presentation (March 2025)
22 slides from Geopark's investor presentation, March 2025
Slide 1: Corporate Presentation March 2025
CORPORATE PRESENTATION March 2025
Slide 2: Disclaimer
GeoPark CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION The information contained herein has been prepared by GeoPark solely for informational purposes. No representation or warranty, either expressed or implied, is DISCLAIMER provided in relation to the accuracy, completeness or relia
Slide 3: About Us
LE A D ING IND E P EN D E NT LA TA M E & P CO MP A NY ABOUT US ENDURING PRINCIPLES AND APPROACH Energy Oil & Gas Latin America GeoPark Approach BRAZIL Distinctive and Diversified Portfolio Leading Oil and Gas Finders Focused on Growth Drilling Success Rate*** 69% Big Assets, Big Plays, Big Proven Ba
Slide 4: North Star: Our Long-Term Vision and Targets
LE A D ING IND E P EN D E NT LA TA M E & P CO MP A NY NORTH STAR: OUR LONG-TERM VISION AND TARGETS DELIVER MORE ENERGY INVEST TO RETURN VALUE CREATE AND SHARE PROSPERITY SCALE PRODUCTION ROBUST AND FLEXIBLE CAPITAL ALLOCATION SAFETY IS OUR #1 PRIORITY • Mid-term (~2028) • Best projects win Zero LTIR
Slide 5: Distinctive and Diversified Portfolio
DISTINCTIVE AND DIVERSIFIED PORTFOLIO 5
Slide 6: Llanos 34 - A World-Class Asset
D IS TINC TIV E AN D DIV E R S IFIED P OR TFOLIO LLANOS 34 - A WORLD-CLASS ASSET Chiricoca KE Y ME TRICS VENEZUELA Chachalaca VENEZUEL Llanos A Basin LLA-34 Tilo LL-34 COLOMBIA Max ECUADOR COLOMBIA Tigana BRAZIL ECUADOPERU R BRAZIL PERU Guaco Tarotaro 42,981 93% 7.0 8.1 Years* Tua Gross BOPD Product
Slide 7: CPO-5 – Optimizing Production
D IS TINC TIV E AN D DIV E R S IFIED P OR TFOLIO CPO-5 – OPTIMIZING PRODUCTION KE Y ME TRICS Llanos 34 Block VENEZUELA Jacana Field CPO-5 Cabrestero Block COLOMBIA ECUADOR BRAZIL PERU Maripo sa Field 6,402 8 2.8x 33 MMBBL GeoPark Producing Oil Fields Indico Field Other Producing Oil Fields Net BOPD
Slide 8: Llanos Basin Exploration and Appraisal Campaign
D IS TINC TIV E AN D DIV E R S IFIED P OR TFOLIO LLANOS BASIN EXPLORATION AND APPRAISAL CAMPAIGN O PP OR TUNI T I ES I N WEL L-KNO WN B ASI N 2 0 2 5 CA MP AI GN Ge oPark Exp loration Blocks Ge oPark Producing Blocks Ge oPark Producing Oil Fields LLA NO S 3 2 LLANOS 104 Other Pr oducing Oil Fie lds
Slide 9: Vaca Muerta - Right Fit for Our Long-Term Vision
D IS TINC TIV E AN D DIV E R S IFIED P OR TFOLIO VACA MUERTA - RIGHT FIT FOR OUR LONG-TERM VISION MATA MORA NORT E CONF LUE NCIA NORT E Rincon de los Sauces • 43,243 acres • 25,698 acres ARGENTINA • 33 producing wells • 3 producing wells • Gross Production: 15,052 BOEPD* • Gross Production: 3,108 BO
Slide 10: Financial Flexibility and Stewardship
FINANCIAL FLEXIBILITY AND STEWARDSHIP 10
Slide 11: 2025 Work Program – Maximizing Value
FIN A NC IA L FLE X IB ILITY AN D S TEWA R DS H IP 2025 WORK PROGRAM – MAXIMIZING VALUE 20 25 W OR K P R OGR A M P R I NC I PL ES 2025 PROGRAM HIGHLIGHTS 35,000 ± 2,500 23 - 31 Highly Profitable, Dependable and Sustainable BOEPD Production Gross Wells Targets to maintain and improve efficiency and p
Slide 12: Cost & Capital Efficiency
FIN A NC IA L FLE X IB ILITY AN D S TEWA R DS H IP COST & CAPITAL EFFICIENCY ST RO NG O PERA TI NG PER FO RM ANCE D RI VE L ON G - T ERM EFF I CI ENCY Operating Netback ($MM) = Ajusted EBITDA + G&A/G&G 70 0 CAPEX ($MM) 10 00.0 60 0 Operating Netback/CAPEX Ratio (x) 593 90 0. 0 80 0. 0 507 479 453 50
Slide 13: Profitable Operator
FIN A NC IA L FLE X IB ILITY AN D S TEWA R DS H IP PROFITABLE OPERATOR ADJ US TE D EBI TD A MAR GI N 63% 60% 58% 55% 55% 53% 52% 51% 49% 44% 41% 35% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 OPE RATING COST S PE R BARRE L SOL D G&A PER BARREL 19 16 21% 9 55% 15 14 - 15 Reduction ($
Slide 14: Strong Balance Sheet with Safety Nets in Place
FIN A NC IA L FLE X IB ILITY AN D S TEWA R DS H IP STRONG BALANCE SHEET WITH SAFETY NETS IN PLACE AS SETS, LIABILITIES A ND SAFETY NETS 2025 FREE C ASH FLOW ($MM) 350 - 430 (180 – 200) $277 MM Hedges in Place Securing Cash Year-End 2024 Base Oil Price S RTE S (100 – 110) $1.8 BN* $550 MM Bond (100 –
Slide 15: Hedging Program Secures Base Oil Price
FIN A NC IA L FLE X IB ILITY AN D S TEWA R DS H IP HEDGING PROGRAM SECURES BASE OIL PRICE APPROACH ❖ Low-Cost Operator 12-15 MONTHS 50-70% 43% AVERAGE HEDGING RATIO (2024) Tenor PRODUCTION 67% AVERAGE HEDGING RATIO (2025) ❖ World-Class Asset Quality Hedge Target On track with target HE DG E BO O K O
Slide 16: 2025 Provides Unique Entry Point
FIN A NC IA L FLE X IB ILITY AN D S TEWA R DS H IP 2025 PROVIDES UNIQUE ENTRY POINT ATTRA CTIVE NAV/SH ARE VA LUATION TRADING BELOW HISTORICA L MULTIPLE S 27.8 EV/EBITDA 7.2x 22.9 +210% 4.8x 15.3 4.4x -7.6 Current +70% 2.5x 2.2x Share Price 2.0x 1.9x ($8-9/Share) 1P NPV/Share Net Debt/Share 1P NAV/S
Slide 17: SPEED Since Day One
ra ms GEOPARK SPEED *\ ICE DA
Slide 18: Our Sustainability Framework
S P E ED S IN CE D A Y O NE OUR SUSTAINABILITY FRAMEWORK L ON G-T ERM VI ABI LI T Y AND S HARED P O SI TI VE IM PA CT DRI V IN G S UST AI NABI LI T Y FO RW ARD GHG EMISSIONS INTENSITY REDUCTION TARGETS Scopes 1 & 2 (GeoPark operated) baseline: 2020 Three levers: Clean Energy, Energy Efficiency and M
Slide 19: 'Sustainability Leader' & Industry Mover
S P E ED S IN CE D A Y O NE ‘SUSTAINABILITY LEADER’ & INDUSTRY M VER MS C I: R ATI N GS EV O LUT IO N Included for the first time in the S&P Sustainability Leaders Sustainability Yearbook 2025 and named SUSTAINABILITY RATING DISTRIBUTION 32% Oil & Gas Upstream & Integrated Industry Mover 23% 18% 14%
Slide 20: Governance – Diverse and Experienced Board
S P E ED S IN CE D A Y O NE GOVERNANCE – DIVERSE AND EXPERIENCED BOARD I NDE PEND ENT B OA RD ME MB ERS EX ECUT IVE BOAR D ME MBE RS Audit Audit Compensation SPEED Nomination & Nomination & Corporate Corporate Technical Technical Governance Governance SPEED Compensation Strategy & Risk Strategy & Ri
Slide 21: Latin America is an Opportunity Rich Environment
WE MA K E A S S E TS BE TTE R LATIN AMERICA IS AN OPPORTUNITY RICH ENVIRONMENT GEOPA RK APPROACH MULTIPLE OPPORTUNITIE S STRONG TRA CK RECORD OF GeoPark targets attainable high-impact CRE ATING VA LUE THROUGH opportunities in Argentina, Colombia and Brazil. ACQ UI S IT I O NS CO L OM BI A • Value ac
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