Parex Resources Inc. · TSX:PXT
Parex Resources — Investor Presentation (September 2025)
20 slides from Parex Resources's investor presentation, September 2025
Slide 1: Parex Resources Investor Presentation
Parex Resources Investor Presentation September 2025
Slide 2: Leading Colombian Oil & Gas Company
▪ Leading Colombian Oil & Gas Company ▪ Value Creation in Colombia since 2009 ▪ Sustainable Portfolio with Growth Runway ▪ Strong Return of Capital Track Record ▪ Top-Quartile ESG Performance Stock Symbol TSX:PXT Shares Outstanding(1) 96.8 million Market Capitalization(1) C$1.7 billion Quarterly Div
Slide 3: Colombia and Parex Advantages
Colombia ~760,000 Independent Free OECD BBL/D Branches of Capital Movement Member Oil Production(1) Government & No Foreign Country Currency Controls Parex Advantages Offshore Top Decile Established Strong Strategic Partner Oil Sales Cash Flow per BOE Social License with Ecopetrol S.A. Paid in USD b
Slide 4: Colombia-Focused Strategy
Colombia-Focused Strategy Parex Resources is 100% focused on Colombia Unlocking extensive Exploitation land base using & Technology proven technology Pursuing onshore, Capturing exploration upside world-class gas plays that while actively managing are underexplored shareholder risk & reward Gas Expl
Slide 5: Portfolio Evolution
Portfolio Evolution Continually managing shareholder opportunities and overall corporate risk profile ✓ High-graded big ‘E’ exploration with Llanos Foothills ▪ Executed agreements to acquire game-changing potential(1)(2) 2025 2026+ ▪ Added top-ranked Farallones Foothills prospect(2) E VIM-1 (Guapo)
Slide 6: ESG Performance
ESG Performance Established strong social license and earned external recognition as a top-quartile ESG performer ENVIRONMENT SOCIAL GOVERNANCE EXTERNAL RECOGNITION Morningstar Sustainalytics ▪ Reduced GHG intensity by ▪ Work for Taxes investments ▪ 9 out of 10 independent 27.3 Rating(1) 29% (scope
Slide 7: Why PXT?
Why PXT? Conventional Oil Colombia is underexploited with substantial resource potential & Gas in ✓ Proven 15-year operating track record in Colombia ✓ Strong assets with superior development economics Colombia ✓ Applying secondary recovery & EOR(1) to improve recovery factors Transformational Colom
Slide 8: September 2025 Outlook
September 2025 Outlook Results to date and increased drilling activity are supportive of a growing production profile through the remainder of 2025 FY 2025 AVERAGE PRODUCTION OUTLOOK(1) Strategic Priorities for (kboe/d) Remainder of 2025 50 ▪ Finish full-field polymer injection 48 46 implementation
Slide 9: 2025 Activity Plan
2025 Activity Plan Diversified, lower-risk capital program, with growing H2 2025 production profile Near-Field Exploration ~5 wells Higher chance of success exploration prospects VIM-1 Southern Llanos focus; building off previous basin success 1 Big ‘E’ exploration well Less than $10MM per drill on
Slide 10: 2025 Capital Allocation
2025 Capital Allocation Plan built for sustainability, with investments in both current production and future inventory 2025F CAPITAL ALLOCATION(1) Fundamentals ($ millions) ▪ Strong FFO netbacks(1) $500 $75 ▪ Oil prices linked to Brent with $70 narrow quality differentials $400 $65/bbl $285-315 ▪ P
Slide 11: Core Southern Llanos Blocks: LLA-32, LLA-34 and Cabrestero
Core Southern Llanos Blocks: LLA-32, LLA-34 and Cabrestero Flagship assets that represent ~75% of net corporate production Key Southern Casanare (“SOCA”) Blocks Key Takeaways LLA-32 ▪ Acquired remaining working interest for the block for $16MM, providing full asset LLA-32(1) control while growing cu
Slide 12: Case Study: Successful Polymer Injection Pilot at Cabrestero
Case Study: Successful Polymer Injection Pilot at Cabrestero Promising results leading to full-field polymer expansion, with opportunities for technology replication across portfolio CABRESTERO POLYMER PILOT PERFORMANCE(1) Key Highlights (bbl/d) ▪ Proven Polymer Pilot 500 ▪ Patterns have shown stabl
Slide 13: Strategic Entry into the Putumayo Basin of Colombia
Strategic Entry into the Putumayo Basin of Colombia Establishing a low-risk development & exploitation platform that can be scaled as a new core area for PXT Transaction Details(1) Putumayo Blocks ▪ Acquiring 50% W.I. in four blocks via a phased business Reserve Information(2) collaboration agreemen
Slide 14: VIM-1 Exploration Prospect
VIM-1 Exploration Prospect Directly offset Company’s producing VIM-1 La Belleza Discovery Prospect Successful Gas Cycling Project VIM-1 Block – 3D Seismic Depth Guapo-1 La Belleza-1 La Belleza-2 Kraken Hidra Norte La Belleza Guapo-1 Developed Field South North Map is for Illustrative Purposes Only P
Slide 15: Llanos Foothills: World-Class Resource Trend
Llanos Foothills: World-Class Resource Trend Provides game-changing potential at an enhanced risk & reward profile PXT/ECP Aligned Area(1) Sirirí PXT Proven Operatorship Capachos Resource Highlights track record of technical Cumulative production from area expertise & stakeholder engagement; Aligned
Slide 16: Return of Capital
Return of Capital Demonstrated long-term track record of returning capital to shareholders through share repurchases and dividends RETURN OF CAPITAL (C$MM) OUTSTANDING SHARES (MM) ~$200 ~$2,000 162 $254 148 ~40% Reduction $300 (2018A-2024A) 134 $384 122 $334 110 104 98 $230 $300 2019A 2020A 2021A 20
Slide 17: Contact Information
Contact Information Mike Kruchten Senior Vice President, Capital Markets & Corporate Planning 403-517-1733 investor.relations@parexresources.com Steven Eirich Senior Investor Relations & Communications Advisor 587-293-3286 investor.relations@parexresources.com Parex Resources Inc. 2700 Eighth Avenue
Slide 18: Advisory
Advisory This presentation is provided for informational purposes only as of September 8, 2025, is not complete and may not contain certain material information about Parex Resources Inc. ("Parex" or the "Company"), including important disclosures and risk factors associated with an investment in Pa
Slide 19: Advisory: Non-GAAP and Other Financial Measures
Advisory Non-GAAP and Other Financial Measures Advisory This presentation uses various "non-GAAP financial measures", "non-GAAP ratios", "supplementary financial measures" and "capital management measures" (as such terms are defined in National Instrument 52-112 – Non-GAAP and Other Financial Measur
Slide 20: Advisory: Oil and Gas Information
Advisory Oil and Gas Information This presentation contains a number of oil and gas metrics, including funds flow provided by operations netback. These oil and gas metrics have been prepared by management and do not have standardized meanings or standard methods of calculation and therefore such mea
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