The Parex Advantage

Cabrestero: Waterflood & Exploitation Delivering Success Basin: Southern Llanos Operator: PXT Waterflood Performance & Forecast (1) W.I.: 100% Water Injection (bbl/d) 50,000 40,000 30,000 20,000 Started Original Injection 10,000 Injection Begins Ramp Up Production Bests 2P YE2021 Production Bests 2P YE2020 A Production (bbl/d) 15,000 12,000 9,000 6,000 3,000 0 0 2014A 2015A 2016A 2017A 2018A 2019A 2020A 2021A 2022A 2023F 2024F -Water Injection Rate 2P - YE2020 2P - YE2021 Oil Production Rate Typical for conventional pools to deliver sizable upside when incorporating optimization, pressure maintenance and delineation (1) See "Forward-Looking Statements and Financial Outlook" advisory. 11

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