Geopark Ltd · NYSE:GPRK
Geopark — Investor Presentation (March 2026)
29 slides from Geopark's investor presentation, March 2026
Slide 1: Corporate Presentation March 2026
= Corporate Presentation GEOPARK March 2026
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 PO R A TE P R ESE N TA TI 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 $0.4 B
Slide 4: Leveraging Core Strengths to Power the Future
C O R PO R A TE P R ESE N TA TI 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 Creditwort
Slide 5: 2025 Results
2025 Results Full-year Guidance Delivered, Transformational Portfolio Reset Well Underway 28,233 boepd $493 M $277 M Production 2025 Revenues 2025 Adj. EBITDA 2025 28,351 boepd 4Q2025 56% EBITDA Margin $100 M 1.6x $13.2/boe Cash Net Debt/EBITDA Operating Costs December 2025 Per Produced Barrel Decem
Slide 6: Step-Change in Reserves That Builds on Enduring Value
C O R PO R A TE P R ESE N TA TI 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 formation
Slide 7: 2026 Work Program and Medium-Term Guidelines
C O R PO R A TE P R ESE N TA TI 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% C
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 PO R A TE P R ESE N TA TI 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 & COST C
Slide 10: Llanos 34: Scaling Enhanced Recovery
C O R PO R A TE P R ESE N TA TI 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 PO R A TE P R ESE N TA TI 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 INDICO-3
Slide 12: Llanos 123: From Discovery to >5,000 boepd in 2 Years
C O R PO R A TE P R ESE N TA TI 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 Recov
Slide 13: Llanos Exploration: Low Risk, Low Cost, Higher Value, Extended Production
C O R PO R A TE P R ESE N TA TI 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. Grande
Slide 14: Vaca Muerta: Positioned in the Core of a World-Class Shale Play
C O R PO R A TE P R ESE N TA TI 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-in-c
Slide 15: Vaca Muerta: The Road to 20,000 boepd
C O R PO R A TE P R ESE N TA TI O N Vaca Muerta: SEAMLESS TAKEOVER AND ACCELERATED EXECUTION The Road to 20,000 boepd LATEST DEVELOPMENT Production (boepd) 24,000 TEAM FULLY INTEGRATED Scaled a high-performance Business Unit 6 to 40 people in 4 months, 18,000 consolidating +125 years of Vaca Muerta
Slide 16: A Step-Change in Scale and Cash Flow to Enable Growth
C O R PO R A TE P R ESE N TA TI O N A Step-Change in Scale and Cash Flow to Enable Growth GeoPark Combined Figures Large Scale Consolidation Move that Reinforces Long-Term 1 Commitment to Colombia +45 KBOEPD +90 KBOEPD Production 2028F Production 2028F Stronger, More Resilient Company, Advancing 2 i
Slide 17: Frontera's Upstream Portfolio Overview
C O R PO R A TE P R ESE N TA TI O N Frontera’s Upstream Portfolio PRODUCTION BREAKDOWN Overview Frontera Blocks 6% 14.2% GeoPark Blocks Basins 3.7% 25% 4.7% BY TYPE BY FIELD 43.9% 17 Blocks 3Q 25’ LTM 2024YE 14.7% 69% 18.8% Heavy Crude Oil Quifa CPE-6 Guatiquia Light & Medium Crude Oil Combined Gas
Slide 18: Immediately Accretive on Every Valuation Metric
C O R PO R A TE P R ESE N TA TI O N Immediately Accretive on Every Valuation Metric EV/EBITDA EV / FLOWING BARREL Key Metrics(1) x 3.3x $/BOEPD F E&P GPRK 3.0x 30.2 27.9 Offer Value / Mkt Cap 2.0x 375 450 US$MM 15.1 Net Debt 226 451 US$MM Enterprise Value Purchase Price GeoPark Colombian Peers Purch
Slide 19: World Class Execution: Safe, Reliable & Profitable
World Class Execution: Safe, Reliable & Profitable
Slide 20: Capital Efficiency in Llanos Through Technology and Innovation
C O R PO R A TE P R ESE N TA TI O N Capital Efficiency in Llanos 34 Through Technology and Innovation VERTICAL WELLS* HORIZONTAL WELLS 17 47 16 15 14 37 10 33 4.5 4.1 10.9 3.5 3.7 8.3 2.8 6.9 2021 2022 2023 2024 2025 2021 2022 2023 Drilling Times (days) Drilling & Completion Cost ($MM) New Rigless C
Slide 21: Excelling at Cost Management in Colombia
C O R PO R A TE P R ESE N TA TI O N Excelling at Cost Management in Colombia OPEX* ($/BBL) 2026 – 2030F: <$15/BBL 20 Continuous “Can Do Better” Mindset 18 16 3Q2025 Average: 15.0 14 12.5 Innovative Actions 12.3 12 11.3 • Water Decanter 10 • Water Shut Off WOs 7.5 7.9 • Generation from Solar and Capt
Slide 22: Building Enduring Value
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Slide 23: Resilient Portfolio Across Price Scenarios
C O R PO R A TE P R ESE N TA TI O N Resilient Portfolio Across Price Scenarios RESERVES & RESOURCES* % PRODUCTION VS (MMBOE) BREAKEVEN 57% 2 1 BE < $70/BBL 39% 77 2 BE < $60/BBL 59% 33% Average Average 56 3 BE < $50/BBL 2026 - 2028F 2029 - 2030F BE <= $50/BBL BE = $50 - 60/BBL BE > $60/BBL ~ 99% OF
Slide 24: Vaca Muerta Underpins Growing Value and Returns
C O R PO R A TE P R ESE N TA TI O N Vaca Muerta Underpins Growing Value and Returns CAPEX ($ MM) ADJUSTED EBITDA ($ MM) 68 68 70 520 - 550 290 - 320 220 - 250 345 - 375 277 98 2025F Average Average 2025F Average Average 2026 - 2028F 2029 - 2030F 2026 - 2028F 2029 - 2030F Base Business Argentina Bren
Slide 25: Transformational Cash Generation Post Investment Peak
C O R PO R A TE P R ESE N TA TI 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 +/- OPEX -10 10 (20 – 25) +/- Brent -11 11 Cumulative Cumulative Cumulative 2026 - 2028F 2029 - 2030F 2031 - 2
Slide 26: Solid Balance Sheet and Funding Capacity
C O R PO R A TE P R ESE N TA TI O N Solid Balance Sheet and Funding Capacity NET DEBT ($MM) – NET DEBT/ADJ. EBITDA* (X) Diversified Funding 1.9 Sources 1.6 – 1.8 1.6 0.9 0.8 – 1.0 Low Refinancing Risk 0.8 1P Reserve Life of 7Y 574 0.7 570 – 600 > 4Y Average Debt Maturity 445 - 475 453 369 368 238 +$
Slide 27: Proactive Hedging Program to Deliver Predictability
C O R PO R A TE P R ESE N TA TI 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 Notch 9
Slide 28: Ongoing Commitment to Shareholder Returns
C O R PO R A TE P R ESE N TA TI 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 9 $6.0 MM T
Slide 29: GeoPark
ke GEOPARK CREATING VALUE AND GIVING BACK