Arrow Exploration Corp. · TSXV:AXL
Arrow Exploration — Investor Presentation (February 2026)
35 slides from Arrow Exploration's investor presentation, February 2026
Slide 1: Arrow Exploration Corporate Presentation
AIM | TSXV : AXL ARROW EXPLORATION Growing & Socially-Responsible Colombia-Focused Energy Company Corporate Presentation | February 2026 Unless stated otherwise, all dollar figures refer to US dollars
Slide 2: Disclaimer
Disclaimer Important Information The content of information contained in this presentation (the “Presentation”) has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000 (“FSMA”). Reliance upon this Presentation for the purpose of engaging in any
Slide 3: Who Are Arrow Exploration?
Who Are Arrow Exploration? Explorers Developers • 4 Arrow discoveries including RCE, CN, MA, and Alberta • 39 wells drilled, 26.6 km of roads built, 5 well pads Llanos • Drilled 10% of all wells in Colombia in 2024 (ex-Ecopetrol) • Over 215 km² of 3D seismic acquired across 3 projects Multi-Zone Exp
Slide 4: The Arrow Journey
The Arrow Journey From new management to sustained growth—a track record of operational excellence 2020 Q2: New management team appointed Q4: AIM listing at 6.25p 2021 Q1: Developmental program launched at RCE 2022 Q1: 3D seismic on West Tapir 2023 Q3: Carrizales Norte discovery Q1: First horizontal
Slide 5: Corporate Snapshot
Corporate Snapshot Asset Basin WI Net production Operator (boe/d) 1-Tapir Llanos 50%* 4200 PetrolCo* 2- Santa Isabel (Oso Pardo) MMV 100% 200 Arrow $65M 4,500+ 13.62 mmbbl 3- Alberta, Canada 3- Ombu WCSB Putumayo 100% 10% 100 0 Total: 4,500+ Arrow Emerald Market Cap BOE/D 2024 2P Reserves Feb 25, 20
Slide 6: 2024 Year-End Reserves
2024 Year-End Reserves (2025 released soon) Independent reserve evaluation by Boury GEC | December 31, 2024 Brent Forecast Pricing Year $/bbl 2025 $76.50 2026 $78.50 2027 $80.00 2028 $81.50 2029 $83.50 2030 $85.17 2034+ 2%/year Arrow's 50% interest in the Tapir block is contingent on assignment by E
Slide 7: Total Production
Total Production • Significant production growth achieved since new management took the helm, reflecting operational improvements and strategic focus • Improved resource recovery rates and reduced downtime, contributing to higher overall NEW MANAGEMENT TEAM IMPACT production • Clear pathway for futu
Slide 8: Horizontal Well Program
Horizontal Well Program Carrizales Norte Performance Horizontal wells maximize reservoir contact, improving recovery rates and extending productive well life across the Carrizales Norte field 16%/month decline rate over first four months— 4%/month decline rate between fifth demonstrating predictable
Slide 9: HZ Well Program Returns: 500% IRR
HZ Well Program Returns Carrizales Norte The horizontal well program at Carrizales Norte delivers exceptional returns, validating Arrow's development strategy and capital allocation discipline. Proven Economics Replicable Model Industry-leading returns driven by low-cost operations and high-quality
Slide 10: Colombian Oil Portfolio: Llanos Basin
Colombian Oil Portfolio Llanos Basin
Slide 11: Llanos Basin - Home to Arrow's core Tapir Block
Llanos Basin- Home to Arrow’s core Tapir Block The ‘Park Avenue’ of Colombia’s Oil Industry – Safe, Secure and Highly-Desirable • Largely flat-lying areas with little vertical relief • Year-round production (rainy season April-November) • 80+ year history of hydrocarbon production • Strong community
Slide 12: The Tapir Block
The Tapir Block • Beneficial 50% WI with 65,154 gross acres (32,577 acres net) • 2024 year-end 3P reserves of 27.9 MMbbls (gross) / 13.9 MMbbls (net to Arrow’s W.I.) • A series of oil fields lie primarily to the southeast along a similar fault trend with a combined 38.5 MMbbls produced as of the end
Slide 13: Development on the Tapir Block
Development on the Tapir Block
Slide 14: Mateguafa Attic Discovery
Mateguafa Attic Discovery Scope and Repeatability-C7 Development Plan Top C7 depth structure Mateguafa field discovered in 1998. Four wells drilled, two C7 producers (M1-M3, Cumed 630k bbls) MAT-1 Stratigraphic and Structural MAT-3 A B MAT-14 trapping C7, Guadalupe, MAT-15 A MAT-13 Gacheta and U
Slide 15: Mateguafa C9 Development Plan
Mateguafa C9 Development Plan Top C9 depth structure 4000 to 5000 feet of Horizontal Section Homogenous oil charged sandstone Mat-HZ-7 was drilled in December 2025 Cumed 110 K Bbls so far Mat-HZ-9 was drilled in January 2026 On production C9 Producers Mateguafa-5 (Deviated), Mateguafa-HZ-7, Ma
Slide 16: Mateguafa Attic C7-C9 Pay
Mateguafa Attic C7-C9 Pay C7 C9 Arrow Exploration has reported encountering thick pay zones in the C7 formation at the Mateguafa Attic play, in particular M-6 and M- HZ7 have shown significant net oil pay C9 formation has proven to be an excellent producing zone and is currently the main produci
Slide 17: Mateguafa C9 Structural Cross Section
Mateguafa C9 Structural Cross Section A B OIL B A 17
Slide 18: Alberta Llanos Field
arrow & EXPLORATION A Alberta Llanos Field
Slide 19: Alberta Llanos Field
Alberta Llanos Field Typical Llanos Basin prospect: three-way structural closure against a fault Multiple zone discovery: C7, Guadalupe, Gacheta, & Ubaque 121 feet (Hydrocarbon bearing reservoir) Located approximately 3.5 km northeast of Carrizales Norte discovery on same fault trend
Slide 20: Carrizales Norte Field
arrow & EXPLORATION A Carrizales Norte Field
Slide 21: Carrizales Norte: Horizontal Well Program
Carrizales Norte: Horizontal Well Program The first horizontal well was spud on May 14, 2024. A 622 m horizontal section was drilled within the Main Ubaque reservoir. The well was Main Ubaque depth structure brought on production on June 15, 2024 and initial production was over 3,000 bbl/d gross (
Slide 22: Carrizales Norte: C7 Potential
Carrizales Norte: C7 Potential Reservoirs consist of channelized sand Carrizales Norte Conceptual C7 Existing Wells bodies with excellent characteristics – Development Plan porosity of 28 – 34% and multi-Darcy B Current C7 permeabilities Producers Future Locations Light oil (>30o API) and strong
Slide 23: Rio Cravo Este Field
AN ARROW = EXPLORATION JP” Rio Cravo Este Field
Slide 24: RCE Development
RCE Development RCE-HZ-10 drilled in 2025 targeting Ubaque RCE- 9 drilled in 2025 targeting C7 Future Ubaque HZs Future C7 drills Future Gacheta drills C7 Structure Map Ubaque Structure Map C7 Pool Outline
Slide 25: Tapir Block: Fields, Prospects & Leads
Tapir Block: Fields, Prospects & Leads • The Tapir Block contains the Carrizales FIELDS Norte (CN), RCE, Alberta and Mateguafa MULTI ZONE PROSPECTS UBAQUE PROSPECTS Fields, all of which are producing and C7 PROSPECTS have demonstrated significant oil potential, providing a strong foundation for furt
Slide 26: Icaco Prospect – Scope and Repeatability
Icaco Prospect – Scope and Repeatability A B A ICACO-1 B C7 Guadalupe Gacheta Marker • The Icaco prospect has been re-mapped using the newly Ubaque acquired Tapir Sur 3D. Paleozoic • It is a robust 3-way fault dependent closure, with 4 targets, the Ubaque as the primary target and C7 as secondary ta
Slide 27: Oxbow Prospect – Scope and Repeatability
Oxbow Prospect – Scope and Repeatability Downdip extent Channel edge (stratigraphic) and structural dip acting as trap Alberta pad surface location • Oxbow is a stratigraphically trapped prospect • C7 is the primary target. • The channel geometry can be mapped from 3D seismic amplitudes • Oxbow can
Slide 28: Oxbow Prospect
Oxbow Prospect Top C7 depth structure (cropped at channel edge) Downdip extent Channel edge C7 channel amplitude extraction A (stratigraphic) and structural dip acting as X trap Downdip extent B Y 1 KM • Oxbow is a stratigraphically trapped prospect • C7 is the primary target. • The channel geometry
Slide 29: Capullo Prospect
Capullo Prospect Low Risk Exploration – Scope and Repeatability B Large prospect enhanced by fault trends Truncation of Ubaque Main sands against depositional edge Look-alikes to Carrizales Norte Ubaque discovery PINCH OUT Land acquisition complete, with EDGE environmental studies to follow
Slide 30: Macoya Prospect – Scope and Repeatability
Macoya Prospect – Scope and Repeatability Top Ubaque depth Structure Top C7 depth Structure a MACOYA-1 MACOYA-1 b 500 M 500 M MACOYA-1 MACOYA-1 logs – C7 MACOYA-1 logs – Ubaque • The Macoya-1 was drilled in April-1993, by Heritage Colombia, based on available 2D seismic • The well encountered reserv
Slide 31: Caporal Sur Prospect
A B Caporal Sur Prospect C7 Guadalupe Gacheta Ubaque Paleozoic Guadalupe depth structure 1 KM A B 5 KM • Caporal sur is a 4-way dip closure mapped over the Tapir Sur 3D survey • The structure is observed on the depth migrated volume • The structure extends from the Ubaque to the C7 reservoirs
Slide 32: Water Disposal Capacity
Water Disposal Capacity • Arrow Exploration’s RCE-1 and RCE-2 wells are tied into a water disposal facility with a capacity of 6,000 barrels of water per day (bwpd). • Current water disposal is well below capacity, with current production generating approximately 1,200–1,500 bwpd. • The existing inf
Slide 33: Financial Resources
Financial Resources Prepayment Facility - On May 30, 2025, Arrow announced it had entered into a two-year crude prepayment agreement with an integrated energy major - The agreement provides access for up to 20 million USD in prepaid crude sales in year one and 15 million USD in year two - The facili
Slide 34: Near Term Catalysts
Near Term Catalysts – Scope and Repeatability 2026 Plan Mateguafa Mateguafa CN North HZ Alberta Llanos Opex Reduction Icaco Exploration RCE Development Accretive M&A Attic Exploration Attic Development Development Development Projects 2026 Focus 4 Major discoveries to date: • 2026 Fully Financed • M
Slide 35: Contact Details
Marshall Abbott CEO T: 1 (403) 651 5995 E: mabbott@arrowexploration.ca Joe McFarlane CFO T: 1 (403) 818 1033 203, 2303 – 4th Street SW E: jmcfarlane@arrowexploration.ca Calgary Alberta T2S 2S7 Auditors: Ernst & Young LLP Legal Counsel: Gowling WLG (Canada) LLP NOMAD: Canaccord Genuity Limited Broker
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