The Parex Advantage

2023 Guidance Update 54,000-57,000 Total Production boe/d ~7% Growth at Midpoint vs. 2022 Lower Magdalena VIM-43 1 Big 'E' well Seismic Upper Magdalena VSM-36 Seismic لها Funds Flow $ millions Arauca & Capachos ~3 wells 1 Big 'E' well 2023F Program: ~60 wells $690-730(1)(2) Capital Expenditures A $450-475(3) ~10% Lower than 2022 $80/bbl Brent $ millions LLA-122 1 Big 'E' well LLA-26/81 -5 wells Cabrestero ~18 wells 2023F CAPITAL DISTRIBUTION 10% Magdalena 20% Northern LLA 40% Southern LLA 70% Operated LLA-34 ~30 wells 30% LLA-34 30% Non- Operated See "Forward-Looking Statements and Financial Outlook" advisory. (1) Funds flow provided by operations; capital management measure; see advisory. (2) Based on $80/bbl Brent and a $35/bbl FFO netback (see August 2, 2023, news release); FFO netback is a non-GAAP ratio, see advisory. (3) Non-GAAP financial measure; see advisory. 14

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