Frontera Energy Corporation · TSX:FEC

Frontera Energy — FY2022 Earnings Presentation

10 slides from Frontera Energy's earnings presentation, March 2023

  1. Slide 1: 2022YE Earning Slides

    2022YE EARNING SLIDES March 2023

  2. Slide 2: Corporate Snapshot

    Corporate Snapshot Capital Structure (As at December 31, 2022) ($U.S.) ($MM) Balance sheet metrics – December 31, 2022 (1) (+) Long-term debt $405 Total Cash(8)/Cash and Cash Equivalents ($MM) $290 / $313 (2) (9)(10) (+) Total Lease Liabilities $3 Consolidated Net Debt/ Operating EBITDA 0.3x (+) Ris

  3. Slide 3: Q4'22 Highlights

    Q4’22 HIGHLIGHTS - Recorded net income of $197.8 Million - Cash provided by operating activities was $138.3 million - Generated operating EBITDA(1) of $145.0 million - Delivered average daily production of 41,806 boe/d(2) - Averaged $11.85/boe in production costs(3) and $10.57/boe in transportation

  4. Slide 4: Fourth Quarter 2022 By Numbers

    FOURTH QUARTER 2022 BY NUMBERS Production(1) Operating cost(2) Netback (3) Capital 41,806 $22.42/boe expenditures (4) BOE/D $53.05/boe $134MM Total cash Uncollateralized Operating position of credit lines of EBITDA(4)... $118MM $145MM $313MM including Net sales Achieved 102% of the $23MM in realized

  5. Slide 5: Q4 2022 Quarterly Results

    Q4 2022 QUARTERLY RESULTS Capital expenditures, production and transportation costs PRODUCTION BY SOURCE (KBOE) PRODUCTION COST ($/BOE) (1) TRANSPORTATION COST ($/BOE) (1) CAPITAL EXPENDITURES ($MM) (2) (1) Supplementary financial measure (as defined in NI 52-112). See “Non-IFRS and Other Measures''.

  6. Slide 6: Q4 2022 Quarterly Results: Sustainable Operational Performance

    Q4 2022 QUARTERLY RESULTS Sustainable Operational Performance OPERATING EBITDA(2) ($MM) AND REALIZED PRICE(1) ($BOE) AND BRENT ($BBL) OPERATING EBITDA MARGIN(2) (%) OPERATING NETBACK ($/BOE) (1) CFFO ($MM) AND CAPEX(1)/ CFFO (%) Capex/ 119% 99% 38% 63% 97% CFFO (1) Non-IFRS ratio (equivalent to a “n

  7. Slide 7: Q4 2022 Quarterly Results: Debt Ratios

    Q4 2022 QUARTERLY RESULTS Debt Ratios NET DEBT (EXCL. RESTRICTED SUBSIDIARIES) ($MM) NET DEBT TO OPERATING EBITDA(1) RATIO (X) DEBT TO BOOK CAPITALIZATION(2) (%) INTEREST COVERAGE(3) (X) (1) Operating EBITDA is a non-IFRS financial measure (equivalent to a “non-GAAP financial measure”, as defined in NI

  8. Slide 8: TSX: FEC.TO

    TSX: FEC.TO Colombia Calle 110 N° 9 – 25 Piso 16 Bogotá, Colombia PBX: +57 1 511 2000 PBX: +57 1 745 1001 Calgary 2000, 222 – 3 Avenue SW Calgary, AB Canada T2P 0B4 PBX: +1 403 705 8814 www.fronteraenergy.ca Follow us on: Frontera Energy Corp. @FronteraEnergy @FronteraEnergy

  9. Slide 9: Advisories

    Advisories Forward-Looking Information - This presentation contains forward-looking information within the meaning of Canadian securities laws. Forward-looking information relates to activities, events or developments that Frontera Energy Corporation (“Frontera” or the “Company”) believes, expects o

  10. Slide 10: Advisories

    Advisories EBITDA is a commonly used non-IFRS financial measure that adjusts net (loss) income as reported under IFRS to exclude effects of income taxes, finance income and expenses, and depletion, depreciation and amortization expenses. Operating EBITDA is a non-IFRS financial measure that represen

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