Petroreconcavo Sa · BMFBOVESPA:RECV3
Petroreconcavo Sa — Investor Presentation (May 2026)
20 slides from Petroreconcavo Sa's investor presentation, May 2026
Slide 1: Institutional Presentation
Institutional Presentation Investor Relations IBOV IGPTW IDIV IDVR IBRX100 SMLL IBRA IGC IGC-NM ITAG IGCT
Slide 2: About us
About us One of the leading independent oil and gas producers in the Brazilian onshore 1Q26 Highlights Net revenue Rio Grande do Norte 32 concessions R$ 684 MM 23 operated EBITDA 03 exploration blocks 414 producing wells R$ 310 MM Net debt R$ 1.4 Bi Leverage of 1.04x Bahia and Sergipe Production (kb
Slide 3: Pioneering and a 26-year track record
Pioneering and a 26-year track record Strategic drivers Subsurface Management, Operational Reliability and IPO and Resilience, and Consolidation Excellence in Execution IPO and follow-on, 2026 Acquisitions of Remanso, Miranga and SPE Tiêta (Bahia), and rig fleet Beginning of Vertical expansion Integ
Slide 4: From strategy to execution
From strategy to execution Transforming mature fields into new opportunities Remanso Cluster historical production (boe/d) 1st secondary recovery in the Remanso Cluster 9,000 Initial unlock and Additional drilling and quick wins reservoir stimulation 8,000 7,000 Water injection for Response to pande
Slide 5: Strategic Pillars
Strategic Pillars Execute with discipline today to create long-term value Robustness in Production Reliability Excellence in Execution Subsurface and Resiliency of interventions and Management drilling • Optimization of primary and • Gas & Midstream • Planning as a core value secondary reserve recov
Slide 6: 2025 reserves certification
2025 reserves certification Reserves growth driven by new projects 2025¹ 2P Reserves kboe/d (MMBOE) 182.2 Reserve Replacement 2025 2P Certification Ratio (RRR)² 1.0 x 40 Future Reserves 2025 1P Certification Development Cost³ US$ 8.4/boe 30 PV104 US$ 2.4 B 1P/2P5 Reserves Ratio 79% 20 Gas Reserves/
Slide 7: Reserve replacement with higher long-term recovery factors
Reserve replacement with higher long-term recovery factors 2P Reserves (MMBOE) and Replacement Ratio (RRR) Recovery factors with potential for expansion RRR ~ 1.0 x 2025 EUR¹ Benchmark 9.3 Oil 22% 27% 30-35% 183.8 182.6 182.2 54% 74% 85-90% (1.2) Gas (9.6) Reserve to Production (R/P) Current reserve
Slide 8: Production focused on disciplined execution of the development plan
Production focused on the disciplined execution of the development plan and long-term value generation Average production (kboe/day) Activities performed 1Q26 2025 38.0 33.0 28.0 Workovers 57 232 23.0 30 in Potiguar Asset 155 in Potiguar Asset 27 in Bahia Asset 77 in Bahia Asset 18.0 13.0 8.0 21.3 2
Slide 9: Oil Hedge Volumes
Oil Hedge Volumes Oil Hedge Natural Gas3 1,500 80.00 69.75 69.75 69.75 Protection for the Capture the 63.27 64.09 64.31 downside Upside 1,300 70.00 64.54 62.96 62.81 63.02 63.19 63.08 1,100 60.00 60.00 60.00 60.00 Processed Natural Gas 900 50.00 733 733 700 40.00 Fixed + Variable Fixed installment4
Slide 10: Rigs and Services with a robust portfolio and efficient results
Rigs and Services with a robust portfolio and efficient results Own fleet with multidisciplinary execution capabilities New possibilities for Drilling Projects 3 Drilling rigs PR-21 - 400 HP / up to 1,200 meters PR-04 - 750 HP / up to 2,500 meters PR-14 - 1500 HP/ up to 5,000 meters 12 Workover rigs
Slide 11: Evolution of operational resilience as a key driver of results
Evolution of operational resilience as a key driver of results Logistical and commercial diversification, greater outflow safety and cost optimization in Rio Grande do Norte Alternative oil route UPGN Guamaré Natural gas commercialization diversification ▪ Route via Port of Pecém ▪ Acquisition of 50
Slide 12: Net revenue of R$ 684 million in 1Q26
Net revenue of R$ 684 million in 1Q26 Net Revenue (R$ million) Realization price 4Q25 1Q26 4Q25 1Q26 Oil¹ (US$/bbl) 55.10 +15% 63.40 Production (kboed) 25.0 -3% 24.4 Gas² (US$/MMBTU) 9.53 -2% 9.36 Dated Brent (US$/bbl) 63.73 +27% 81.13 55.45 +8% 60.10 Total (US$/BOE) ICE Brent (US$/bbl) 63.08 +24% 7
Slide 13: Focus on cost optimization with competitive breakeven cash cost
Focus on cost optimization with competitive breakeven cash cost Total Costs and Expenses (R$ Million) Netback 1Q262 (US$/boe) - 9% 409 374 Net Revenue: US$ 60.10 44 11 48 60 317 304 Margin 29.49 4Q25 1Q26 Costs and Expenses Royalties Other Expenses Royalties 5.20 Quarterly View Costs and Expenses (R
Slide 14: Financial strength and strategic capital allocation enhance shareholder returns
Financial strength and strategic capital allocation enhance shareholder returns Free Cash Flow Generation1 (R$ Million) EBITDA (R$ Million) and EBITDA Margin (%) 50.3% 45.3% 2,0 00 47. 0% 51. 0% 120 0 1,8 00 2,1 00 45. 0% 49. 0% 1,6 00 100 0 45.4% 45.7% 1,6 00 47. 0% 1,4 00 41.9% 43. 0% 1,034 800 1,
Slide 15: Debt maturity extension and continuous cost reduction
Debt maturity extension and continuous cost reduction Debt leverage, cost and duration Debt Repayment Schedule (US$ Million) 0.80x 1.10x 1.04x 12 10.00 % 9.00% 10 6.74% 6.12% 6.12% 8.00% 7.00% 8 318 6.00% 4.2 4.1 3.9 49 6 5.00% 57 4.00% 31 31 4 3.00% 2 2.00% 76 76 76 49 1.00% 57 4 31 0 0.00% 14 14 1
Slide 16: Leadership team composed of specialists with complementary experience
Leadership team composed of specialists with complementary experience José Firmo CEO Troy Finney João Vitor Moreira Rafael Cunha Raphael Scudino Dennys Campos VP for Portfolio VP for VP for Finance, M&A & IR - CFO VP for People & Operational VP for Rigs Development Operations Support and Services St
Slide 17: Board of Directors composed of members with extensive experience in oil & gas and capital markets
Board of Directors composed of members with extensive experience in oil & gas and capital markets Board of Directors Advisory Committees Shareholding composition March 31, 2026 Experience in Finance Board of and Capital Markets: Directors Reference Investors Tiago Noel | Chairman Financial Other Cam
Slide 18: Socioeconomic impact
Socioeconomic impact Driving revitalization and social transformation Education Business impact 2025 Impact Learning and Growth The foundation of development 21 thousand people Directly and indirectly impacted Quality of Life 2024 21 % in the semi-arid region Health starts with water Coverage Entrep
Slide 19: Investing in PetroReconcavo: Resilience and sustainable return
Investing in PetroReconcavo: Resilience and sustainable return Strong balance sheet and capital discipline Operational excellence Strong discipline in capital and expertise allocation, delivering high Experienced and committed returns to shareholders management team, with strong Solid balance sheet
Slide 20: Investor Relations
Investor Relations ri.petroreconcavo.com.br