Geopark Ltd · NYSE:GPRK
Geopark — Investor Presentation (December 2025)
28 slides from Geopark's investor presentation, December 2025
Slide 1: Corporate Presentation | December 2025
r= Corporate Presentation GEOPARK | December 2025
Slide 2: Disclaimer
Disclaimer The information contained herein has been prepared by GeoPark solely for informational purposes. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein and nothing shall be relied
Slide 3: Building Enduring Value
C O R P O R AT E P R ES E N T A T I O N Building Enduring Value INITIAL STAGES SCALE UP PROFITABILITY GROWTH RESET Diversified Exploration Growth and Consistent Shareholder Growth Focus, Production (Production Success, Multiple Countries Cash Generation Returns and Cash Flow Longevity kboepd) 70 $0.
Slide 4: Leveraging Core Strengths to Power the Future
C O R P O R AT E P R ES E N T A T I O N Leveraging Core Strengths to Power the Future SAFETY EFFICIENCY RESILIENCE Decades of Best-in-Class Cost Proven Ability to Operate Industry-Leading HSE Performance Through Volatile Local and International Environments STABILITY FOCUS RIGHT PEOPLE Proven Credit
Slide 5: 3Q2025 Results
3Q2025 Results Strong Operational and Financial Delivery in Line With 2025 Guidance 28,194 boepd $382 M $231 M Production 9M2025 Revenues 9M2025 Adj. EBITDA 9M2025 28,136 boepd 3Q2025 60% EBITDA Margin $197 M 1.2x $12.5/boe Cash Debt Net/EBITDA Operating Costs Sep 2025 Sep 2025 Per Produced Barrel 5
Slide 6: Step-Change in Reserves That Builds on Enduring Value
C O R P O R AT E P R ES E N T A T I O N Step-Change in Reserves That Builds on Enduring Value 2P RESERVES (MMBOE)* RESERVE LIFE INDEX (YEARS)* 12.7 121.3 38% 80% Base Business 87.6 Argentina 7.1 2024 2025 2024 2025 KEY Vaca Muerta Llanos 34 Llanos 123 CPO-5 DRIVERS Acquisition now Recovery New forma
Slide 7: 2026 Work Program and Medium-Term Guidelines
C O R P O R AT E P R ES E N T A T I O N 2026 Work Program and Medium-Term Guidelines 2026 WORK PROGRAM MEDIUM-TERM HIGHLIGHTS PRODUCTION (KBOEPD) 44-46 32-34 27-30 PRODUCTION DRILLING WELLS OPEX CAPEX EBITDA 27 - 30 KBOEPD 27 - 36 GROSS $13 - 15/BOE $190 – 220 MM $220 – 300 MM 2026 2027 2028 14% CAP
Slide 8: Maximizing our Assets' Potential
Maximizing our Assets’ Potential
Slide 9: Llanos Blocks: Strategically Positioned in the Heart of the Basin
C O R P O R AT E P R ES E N T A T I O N Llanos Blocks: Strategically Positioned in the Heart of the Basin UNLOCKING INCREMENTAL CUSIANA RESERVES BY PRODUCTION AND RECOVERY OPTIMIZATION LLA 87 DELIVERING RESILIENT LLA 123 LLA 34 MARGINS THROUGH HIGH-EFFICIENCY OCELOTE LLA 104 CARACARA OPERATIONS & CO
Slide 10: Llanos 34: Scaling Enhanced Recovery
C O R P O R AT E P R ES E N T A T I O N Llanos 34: Scaling Enhanced Recovery 3X INJECTION 60 - 70 WATER Guadalupe Formation CAPACITY INJECTORS Current WF DEVELOPMENT 100 NEW Ongoing PROGRAM WELLS delineation POLYMER 30 POLYMER EXPANSION PATTERNS POLYMER EXPANSION 10
Slide 11: CPO-5 | Indico Field: Exceptional Subsurface Quality
C O R P O R AT E P R ES E N T A T I O N CPO-5 | Indico Field: Exceptional Subsurface Quality 35 MMBO CUMULATIVE PRODUCTION Indico Field Full Field Development Top Ubaque Structural Map WORLD-CLASS DISCIPLINED FIELD STRATEGIC LIGHT OIL DEVELOPMENT WATER RESERVOIR SUCCESFULY MANAGEMENT COMPLETED INDIC
Slide 12: Llanos 123: From Discovery to >5,000 boepd in 2 Years
C O R P O R AT E P R ES E N T A T I O N Llanos 123: From Discovery to >5,000 boepd in 2 Years 13 WELLS SUCCESSFUL 40 WELLS TO BE OIL FIELD DRILLED SECONDARY DRILLED PROSPECT 10 Producer Wells RECOVERY Development & & LEAD (77% Success Rate) Delivering Reserve Exploration Growth and Higher SALTADOR R
Slide 13: Llanos Exploration: Low Risk, Low Cost, Higher Value, Extended Production
C O R P O R AT E P R ES E N T A T I O N Llanos Exploration: Low Risk, Low Cost, Higher Value, Extended Production KEY PROJECTS: VENCEJO – PREDESTINACION – TIJERETA NEAR-FIELD OPPORTUNITIES IN LLANOS 123 AND CPO-5 Oil Fields 2026 Prospects 2027+ Prospects FOCUSED VALUE-DRIVEN PORTFOLIO 3D Seismic. G
Slide 14: Vaca Muerta: Positioned in the Core of a World-Class Shale Play
C O R P O R AT E P R ES E N T A T I O N Vaca Muerta: Positioned in the Core of a World-Class Shale Play PRIME ACREAGE IN THE CORE OIL WINDOW RESERVOIR QUALITY ON PAR WITH TOP-TIER ASSETS STRONG EARLY RESULTS STRATEGIC POSITION AMONG LEADING OPERATORS INFRASTRUCTURE-READY FOR EFFICIENT SCALE-UP Best-
Slide 15: Argentina: Transformational and Strategic in Our Long-Term Vision
C O R P O R AT E P R ES E N T A T I O N Argentina: Transformational and Strategic in Our Long-Term Vision TWO ATTRACTIVE OPERATED BLOCKS IN TOP NEIGHBORHOOD LOMA JARILLOSA ESTE PUESTO SILVA OESTE • 6,054 acres • 6,301 acres (gross) • 6 producing wells • 1 producing well • YTD Production: ~2,000 BOEP
Slide 16: Vaca Muerta: The Road to 20,000 boepd
C O R P O R AT E P R ES E N T A T I O N Vaca Muerta: PRODUCTION (BOEPD) The Road to 20,000 boepd 24,000 18,000 12,000 6,000 - 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Single Rig 50 - 55 +1B + 20,000 boepd Program Wells Total Capex Plateau Production 2025 2026 2027 2028 2029 PROD OPT AR
Slide 17: World Class Execution: Safe, Reliable & Profitable
World Class Execution: Safe, Reliable & Profitable
Slide 18: Managing Production Decline in the Base Business
C O R P O R AT E P R ES E N T A T I O N Managing Production Decline in the Base Business PRODUCTION (KBOEPD) AVERAGE CAPEX* 2026 – 2030F 38 39 37 Llanos 34 34 CPO-5 20% Llanos Exploration 26 – 28 24 – 28 21 – 25 45% 35% 2021 2022 2023 2024 2025F Average Average 2026 - 2028F 2029 - 2030F Base Busines
Slide 19: Capital Efficiency in Llanos 34 Through Technology and Innovation
C O R P O R AT E P R ES E N T A T I O N Capital Efficiency in Llanos 34 Through Technology and Innovation VERTICAL WELLS* HORIZONTAL WELLS 17 47 16 15 14 37 10 33 4.5 4.1 10.9 3.5 3.7 8.3 2.8 6.9 2021 2022 2023 2024 2025 2021 2022 2023 Drilling Times (days) Drilling & Completion Cost ($MM) New Rigle
Slide 20: Excelling at Cost Management in Colombia
C O R P O R AT E P R ES E N T A T I O N Excelling at Cost Management in Colombia OPEX* ($/BBL) 2026 – 2030F: <$15/BBL 20 Continuous “Can Do Better” Mindset 18 16 2Q2025 Average: 14.9 14 12.9 Innovative Actions 12.3 12 11.3 • Water Decanter 10 • Water Shut Off WOs 7.5 7.9 • Generation from Solar and
Slide 21: Building Enduring Value
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Slide 22: Resilient Portfolio Across Price Scenarios
C O R P O R AT E P R ES E N T A T I O N Resilient Portfolio Across Price Scenarios RESERVES & RESOURCES* % PRODUCTION VS (MMBOE) BREAKEVEN 57% 39% 2 1 BE < $70/BBL 93% 59% 77 2 BE < $60/BBL 33% 56 2025F Average Average 3 BE < $50/BBL 2026 - 2028F 2029 - 2030F BE <= $50/BBL BE = $50 - 60/BBL BE > $60
Slide 23: Vaca Muerta Underpins Growing Value and Returns
C O R P O R AT E P R ES E N T A T I O N Vaca Muerta Underpins Growing Value and Returns CAPEX ($ MM) ADJUSTED EBITDA ($ MM) 68 68 70 520 - 550 290 - 320 220 - 250 345 - 375 ~ 300* 90 – 120* 2025F Average Average 2025F Average Average 2026 - 2028F 2029 - 2030F 2026 - 2028F 2029 - 2030F Base Business
Slide 24: Transformational Cash Generation Post Investment Peak
C O R P O R AT E P R ES E N T A T I O N Transformational Cash Generation Post Investment Peak FREE CASH FLOW ($ MM) FREE CASH FLOW SENSITIVITY* ($ MM) 900 – 950 +/- 1,000 BOEPD -12 12 350 – 380 0 – 20 +/- OPEX -10 10 (20 – 25) +/- Brent -11 11 2025F Cumulative Cumulative Cumulative 2026 - 2028F 2029
Slide 25: Solid Balance Sheet and Funding Capacity
C O R P O R AT E P R ES E N T A T I O N Solid Balance Sheet and Funding Capacity NET DEBT ($MM) – NET DEBT/ADJ. EBITDA* (X) Diversified Funding 1.9 Sources 1.6 – 1.8 1.5 – 1.7 0.9 0.8 – 1.0 Low Refinancing Risk 0.8 1P Reserve Life of 7Y 574 0.7 570 – 600 > 4Y Average Debt Maturity 445 - 475 415 - 44
Slide 26: Proactive Hedging Program to Deliver Predictability
C O R P O R AT E P R ES E N T A T I O N Proactive Hedging Program to Deliver Predictability CLEAR ROBUST DISCIPLINED TRACK GOALS METHODOLOGY EXECUTION RECORD Protect Cash Flow Risk-Adjusted Hedge Design Structured and Layered Execution Consistent Market Performance CAPEX: $120 - $315 MM 25+ Top Notc
Slide 27: Ongoing Commitment to Shareholder Returns
C O R P O R AT E P R ES E N T A T I O N Ongoing Commitment to Shareholder Returns PROVEN TRACK RECORD (Cash Distribution $MM) Renewed Growth Trajectory + 74 Potential 71 Long-term Shareholder Value and 61 61 Capital Efficiency Heightened Investment Needs Vaca Muerta Development Program 23 19 4 9 $6.
Slide 28: GeoPark: Creating Value and Giving Back
fa aol GEOPARK CREATING VALUE AND GIVING BACK