Pedevco Corp. · AMEX:PED
Pedevco — Investor Presentation (May 2025)
25 slides from Pedevco's investor presentation, May 20, 2025
Slide 1: Investor Presentation Summer 2025
PEDEVWCO Investor Presentation Summer 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21 of the Securities Exchange Act of 1934, as amended. These forward-looking
Slide 3: Strategy & Focus
Financial Flexibility and Excellent Liquidity Strategy & Focus Low-Risk Inventory of Growth Opportunities Proven High Rate of Return Unconventional Asset Compliments Low- decline Conventional Asset NYSE American: PED Recent transactions have bolstered positions and accelerated development in high re
Slide 4: 2024 and Q1 2025 A&D Highlights
2024 and Q1 2025 A&D Highlights Entered into a joint development agreement with a large private equity backed D-J Basin Company to develop PEDEVCO’s permitted Roth and Amber DSU’s in the D-J Basin + Received $1.7MM cash compensation and transferred operatorship to the new operator + Reduced working
Slide 5: 2024 & 1Q 2025 Operational Highlights
2024 & 1Q 2025 Operational Highlights © Drilled and completed 4 horizontal San Andres wells in our Permian asset in Q1 and early Q2 2025 = Wells began producing in mid-Q2 2025 = Early production results exceeding initial production expectations = Participated in 30 non-operated wells in the DJ Basin
Slide 6: Production, Revenue and EBITDA Growth
eg I a 1 1 \ Average Daily Production (Boe/d) 2,000 1835 1,800 1,600 1400 1,200 1,000 00 mm 600 400 200 yar 2021 2022 2023 2024 Total Revenue ($M) teal Adjusted EBITDA (SM) U \ Vac $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $ $15,860 2021 $30,034 2022 $30,784 2023 $39,553
Slide 7: Margin Analysis
rgin Analysis ard fab gilt Revenue/BOE ($) $70.00 PED ranks favorably against its peer group in all metrics + Leads all peers in Revenue/BOE of $58.88, approximately $9 higher than the next highest peer. This is due to PED's oil weighted asset base + Ranks second among the peer group in $50.00 $aase
Slide 8: Peer Comparison Shows PED Undervalued
- Comparison Shows P Market Capitalization (SMM) ay $2355 $2000 $153.5 $154.3 $150.0 a $117.4 simo 572 $500 $22 %. PED Peer Peer. «‘Peer3.« Peer 4 PeerS Peer PED has the 2™ lowest Market Capitalization among the peer group although its ‘operational metrics prove superior assets and financial managem
Slide 9: Highly oil-weighted reserves drive value creation
Highly oil-weighted reserves drive ar End 2024 Reserves (SEC Pricing) value creation Reserve Categories oil Gas NGL Total PV-10 @ = 60% oil (79% liquids) (MBbls) (MMcf) (MBbls) (MBoe) ($M) = $178 million PV-10 (at $75.48 oil price) Proved Developed 2,456 4,337 637 3,816 $74,572 Grow reserves and pro
Slide 10: Industry Consolidation
Industry Consolidation
Slide 11: E&P Sector Consolidation - PED's Role
E&P Sector Consolidation - PED’s Role Challenges facing small E&P companies = Market's directive that operators must live within cashflow is difficult to achieve for most small growth-oriented companies = A&D market is challenged — bid/ask spreads prevent deals from transacting. Sellers seek PDP PV-
Slide 12: Consolidation of Current Asset Base - D-J Basin
Consolidation of Current Asset Base - D-J Basin D-J Basin Colorado Assets & Offset Operators PEDEWCO Consolidation Highlights Consolidation in the D-J Basin began in 2021 and has continued through 2025 with Chevron, Civitas, Bison IV, Verdad and others making acquisitions and accelerating developmen
Slide 13: Slide 13
Slide 14: Highlights
Highlights ~14,600 Net acres (75% HBP’d) Acreage in rural areas of Weld and Morgan Counties 52 gross wells (6.84 net wells) Field and Zones ~ Wattenberg Extension, Middle Wattenberg + Niobrara A, B & Cand Codell Acreage located in area experiencing resurgent drilling activity due to strong productio
Slide 15: D-J Basin Wyoming
D-J Basin Wyoming O = ~4,100 Net acres > i | >] sn i | | Lo i | | = Acreage in rural areas of Laramie County, Wyoming fone — renew — || 1 9No2w | = Potential for six operated 1,280-acre DSU’s ! = Looking for partners to co-develop acreage position = Field and Zones = Silo Field = Codell (prt | : im
Slide 16: Offset well performance and future development plans
( | 5 Q Ea renown uae [42 neop een 20 | rend iw op Broan 285 [i recto eopnen e 2a | 28 2s | 2 35 | 36 30 | 29 | 28 | 27 a1 | a2 | 33 | a4 ‘8N 62W 2 20 2 Future development plans near exceptional offset well performance 30-day IP ~600 - 1,000 BOEPD and cumulative production per well averages 200,000
Slide 17: D-J Basin - Permits & Future Development
D-J Basin - Permits & Future Development Harlequin Unit ~28% WI. Online 2024 3 c 14] 13 | 18 | 17 | 16 [a5 | 74 16 [45 en 620 =] 8N 59W 23 | 24] 19 | 20 | 21 | 22 | 23 | 24 J 19 19 | 20) 94 199 | J Eider Unit 26 | 25 | 30 | 29 | 28 26 | 25 | 30 ) | 28, 5 | 30 29 | 28 | 27 | 26 | 25 | 3 a on T _ t 35
Slide 18: Niobrara Type Curve & Economics
Niobrara Type Curve & Economics 10,000’ Type Well 2 Stream Peak Rate 820 (Boepd) 2 Stream EUR (MBoe) 655 10,000’ Well Net Economics® D&C (SM) $6,500 LOE ($/Boe) $7.10 ROR (%) >100% ROI (disc) 2.15 Pv10 ($M) $7,580 Basin acreage position Based on recent well performance offset PEDEVCO's O-J Net worki
Slide 19: Highlights Acreage Leasehold Map
ma Highlights Acreage Leasehold Map ~14,100 Net Acres Large, contiguous leasehold position = Chaveroo Oil Field >49 MMBOE cumulative production ~100% HP & ~40% deep rights 110 San Andres Hz producers at 100% WI / mex 7 Hz producers at 50% WI /~40.5% NRI Part of the JV with Evolution Petroleum = Chav
Slide 20: San Andres Development
San Andres Development 7s == 2025 Completed Development wm 2019-2024 Hz San Andres CHAVEROO FIELD Development aa] rr) Fu 75) rr rr) aI | 35) Recent and Near-Term Development 13 wells drilled between 2019 - 2024 4 wells drilled and completed in Q1/Q2 2025, commenced production mid-Q2 2025 7) 20) al F
Slide 21: San Andres Type Curve & Economics
San Andres Type Curve & Economics 5,000’ Infill Type Well 2 Stream Peak Rate 397 (Boepd) 2 Stream EUR (MBoe) 343 5,000’ Well Net Economics D&C ($M) $3,750 LOE ($/Boe) $8.00 ROR (%) >50% ROI (disc) 1.95 PV10 ($M) $3,750 © Based on offset Chaveroo wel performance INet working interest 100%, net revenu
Slide 22: San Andres' Advantaged Geology
San Andres’ Advantaged Geology World-Class Reservo = San Andres formation production represents ~40% of Wasson, Vacuum, the 30 billion barrels (Bbbls) of cumulative oil Seminole, Cee ac Goldsmith Maljamaar 7 production in the Permian basin (through June 2015)") * >10 Bbbls cumulative production from
Slide 23: Northwest Shelf Stratigraphy
Northwest Shelf Stratigraphy Period Formation Permian Rustler Tansill Yates Seven Rivers Queen Grayburg Upper San Andres [_Anhydrite Lower P2 ‘San Andres P3 Glorietta Yeso Abo Wolfcamp Pennsylvanian Pennsylvanian Mississippian Mississippian Devonian Devonian Silurian Fussleman 1007 200) 43001 Jax az
Slide 24: Oil Accumulation & Production History
ferenu vJo GUY ay £U Main es Oil Accumulation & Production History n Oil was originally trapped in the San Andres by three types of pre-Tertiary traps: Structural, Stratigraphic, and Structurally enhanced Stratigraphic Legacy fields exist where oil accumulated in these traps to form thick oil column
Slide 25: Executive and Operational Team with a Strong Oil & Gas Background
Executive and Operational Team with a Strong Oil & Gas Backgro: Dr. Simon Kukes, Executive Chairman and Director Dr. Kukes is a global investor and executive with over 40 years’ experience in the oil industry. Dr. Kukes formerly served as an investor and CEO of Samara-Nafta, a joint venture with Hes