Alvopetro Energy Ltd. · TSXV:ALV
Alvopetro Energy — Investor Presentation (April 2026)
26 slides from Alvopetro Energy's investor presentation, Apr 1, 2026
Slide 1: Corporate Presentation April 2026
a Corporate Presentation April 2026 TSXV: ALV OTCQX: ALVOF
Slide 2: Alvopetro - A Disciplined Capital Allocation Model
Alvopetro - A Disciplined Capital Allocation Model First Brazilian integrated onshore natural gas producer Strong operating and financial results well ahead of expectations Balanced reinvestment and stakeholder return model High rate of return opportunities in Brazil & Canada Proven team with succes
Slide 3: At a Glance – Value, Yield, Growth
At a Glance – Value, Yield, Growth Market Summary Reserves & Resources, NPV10 before tax (4)(7)(8)(9)(12) December 31, 2025 Shares outstanding(1) 36.7 million 1,000 800 Average daily trading volume(1) 93,352 US$ millions 600 Insider ownership(1) 9.5% 400 Current Enterprise Value Market cap/Enterpris
Slide 4: Focused on Delivering Shareholder Returns
Focused on Delivering Shareholder Returns +79% 183-A3 1P 10.00 well results Dividend Record Q4 Reserves 197(1) well on & Jan 2026 -36% production Production 9.00 Dividend +20% Dividend +17% Emergency Arbitration 183-D4 $20 million 8.00 +17% 2P reserves value decision on production Credit (NPV10BT) F
Slide 5: Brazil a Growing Market with Attractive Fundamentals
Brazil a Growing Market with Attractive Fundamentals Largest oil producer in S. America and 9th globally New natural gas market. 32% of supply is currently imported World’s 9th largest economy Brazil Attractive fiscal regime with 5.5-11% royalties & 15%-34% income tax Stable regulatory framework att
Slide 6: State of Bahia – Reconcavo Basin
State of Bahia – Reconcavo Basin • Oldest producing basin in Brazil: 23.9 Mbopd + 2.2 e6m3/d (77 MMcf/d) • Brazil's 4th largest city Salvador (pop 2.9 million) • Well developed industrialized region • Majority of natural gas consumed in Camacari industrial complex • Highly strategic infrastructure B
Slide 7: Caburé – Asset Overview – 56.2% ALV
Caburé – Asset Overview – 56.2% ALV(12) • The Caburé field is a joint development of a conventional natural gas discovery Murucututu Project (100%) • Unitized area development - 12 wells & field production facility ALV 183-B1 • Gross Unit production capacity was increased by 33% to 21.2 MMcfpd (600
Slide 8: Midstream - Infrastructure & Marketing (100% ALV)
Midstream - Infrastructure & Marketing (100% ALV) • 11-km transfer pipeline & Gas Plant (UPGN) with 18+ MMcfpd capacity Murucututu Project (100%) • Bahiagás 15-km Distribution pipeline & 70 MMcfpd citygate at our plant site • Updated GSA effective January 1, 2026, increasing firm sales volumes by 25
Slide 9: Alvopetro Natural Gas Price Forecasts
Alvopetro Natural Gas Price Forecasts • QDC1 (400 e3m3/d) pricing based on Brent and Henry Hub benchmark pricing plus fixed margins • QDC2 (100 e3m3/d) pricing is 10.5% * Brent • Price forecasts have been updated for Futures pricing to March 30, 2026 & BRL/USD exchange rate of 5.22. Blended price is
Slide 10: Strong Production Results
Strong Production Results Alvopetro - Daily sales volumes (boepd) 3,500 3,124 3,000 2,867 189 2,523 148 2,500 106 2,000 1,794 1,500 2,935 2,719 2,417 1,000 1,794 500 - 2024 2025 Q4 Q1 2025 2026* Brazil - boepd Canada - boepd Total Company - Avg daily boepd *field estimates | TSXV: ALV, OTCQX: ALVOF
Slide 11: Operating Netback – Q4 2025
Operating Netback – Q4 2025 Q4 2025 operating netback margin of 83% Operating Netback(9)- $/boe Operating netback as a % of realized sales price 87% 89% 89% 86% 87% 85% 83% Q4 2025 realized price of $59.75/boe Operating Netback Margin(9) (% of Sales Price) 80.00 75.94 80% 71.97 80% 2.02 1.94 66.46 6
Slide 12: 2025 Year End Reserve Highlights
2025 Year End Reserve Highlights(4)(7)(9) December 31, 2025 Gross Reserve and Gross Resource Volumes • 1P production replacement ratio of 485%: 79% Total Proved Total Proved plus increase in 1P reserves to 8.1 Mmboe after 2025 Total Proved plus Probable Probable plus Possible production of 0.9MM boe
Slide 13: Disciplined Capital Allocation – Balancing Organic Growth & Returns
Disciplined Capital Allocation – Balancing Organic Growth & Returns Funds Flow From Operations(9) & Capital Allocation Allocation of Funds Flow from Operations 20,000 July 2020 to December 31, 2025 Share repurchases 16,000 1% 12,000 Dividends US$000's 32% Capex 8,000 52% Debt 4,000 (repayments + int
Slide 14: Brazilian Organic Growth Plan
Brazilian Organic Growth Plan Near-Term Productive Capacity Growth Plan – Facilities Focused • Optimize UPGN Caburé to process increasing % blend of Murucututu gas • 2026 expand Murucututu pipeline and field production facility capacity to 600 e3m3/d (21.2 Mcfpd) Murucututu Focused Development Drill
Slide 15: UPGN Optimization Plan
UPGN Optimization Plan Two-Phase Optimization to process increasing % blend of Murucututu gas • 2026 – optimize condensation stabilization and build further redundancy with target capacity up to 600 e3m3/d (21.2 Mcfpd) • Medium term plan to handle 100% Murucututu gas through additional fractionation
Slide 16: Murucututu Development Plan (100% ALV)
Murucututu Development Plan (100% ALV) Murucututu Project (100%) Caruaçu Subsea 183-D4 Caruaçu gas pay 61 metres TVD Depth Structure 20m C.I. >50% Vshale & > normalized 4x 183-1 background gas ALV 183-A3 ALV 183-D4 183-A3 NDE ALV 197-1 Alvopetro Pipeline 183-D4 Caburé Field (56%) 197-1 NDE • Near-te
Slide 17: Murucututu Caruaçu Cross Section
Murucututu Caruaçu Cross Section N 183-1 183-A3 183-D4 S Caruaçu Subsea Depth Structure 20m C.I. 183-1 760m 183-A3 NDE 540m PHIE 183-D4 197-1 NDE LKG -2524m SS WUT -2750m SS • At 12/31/2025 GLJ assigned 36.9 Bcf of 2P reserves + 12.1 Bcf of risked best estimate prospective resource for Caruaçu reser
Slide 18: Murucututu 2026 Capital Plan
Murucututu 2026 Capital Plan Existing Pipeline Existing PAD Existing Well Future Pipeline Future PAD Future Well Murucututu Murucututu Caburé • Pipeline looping to increase egress from Murucututu to 600e3m3/d (21.2 MMcfpd) • Expand Murucututu field production facility (HUB) to 600e3m3/d • Construct
Slide 19: Western Canadian Growth Platform - Mannville Stack Heavy Oil Fairway
Western Canadian Growth Platform - Mannville Stack Heavy Oil Fairway • Expanded focus area – Mannville Stack western Saskatchewan • Multi-zone with large amounts of OOIP • Partnered with an established operator with strong track record • Attractive economics through the application of multilateral d
Slide 20: Attractive Economics With Multilateral Drilling Technology
Attractive Economics With Multilateral Drilling Technology | TSXV: ALV, OTCQX: ALVOF 21
Slide 21: Western Canadian Focus Area Type Curves (Gross 100% WI)
Western Canadian Focus Area Type Curves (Gross 100% WI) Well Inventory (# of Gross Locations) Area GLJ 2P Undeveloped Tier 1 Neilburg (GP) 2 25 Salvador (GP) 4 30 Lashburn (Lloyd) 2 20 Others 0 40 Total 8 115 • The 2025/26 drilling program has validated our core areas as commercially robust • Over 1
Slide 22: Why Invest?
Why Invest? Results Growth Value Yield | TSXV: ALV, OTCQX: ALVOF 23
Slide 23: TSXV: ALV OTCQX: ALVOF
TSXV: ALV OTCQX: ALVOF Calgary, Canada: Alvopetro Energy Ltd. Suite 401, 255 – 17th Avenue SW Calgary, Alberta, Canada T2S 2T8 Tel: (587) 794-4224 Email: info@alvopetro.com Salvador, Brazil: Alvopetro S/A Extração de Petróleo e Gás Natural Rua Ewerton Visco, 290, Boulevard Side Empresarial, Sala 200
Slide 24: Cautionary Statements
Cautionary Statements • Forward Looking Statements. This presentation contains forward-looking statements including forecasted future earnings and sales volumes, forecasted natural gas prices under the Company’s long-term gas sales agreement, the anticipated timing of projects, forecasted royalty ra
Slide 25: Cautionary Statements
Cautionary Statements • Net Present Value and Reserves Disclosed. The net present value of future net revenue attributable to Alvopetro’s reserves is stated without provision for interest costs and general and administrative costs, but after providing for estimated royalties, production costs, devel
Slide 26: Endnotes
Endnotes 1. As of March 31, 2026. Average daily trading volume is based on average volumes traded on all Canadian exchanges (TSXV and other Canadian) and on the OTCQX in the six months commencing on October 1, 2025 and ending on March 31, 2026. 2. Enterprise value of $248.7 million is computed as US
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