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Investor Presentaiton

6 5 4 3 2 1 Colombia Running Room Net Acreage (MM) 2021 Colombia Bid Round Increased Position by ~4.3MM 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 Base Net Acreage YoY Increase • Conventional, oil-weighted Colombian producer Largest independent acreage holder in Colombia Awarded 18 blocks in 2021 Colombia bid round • 16 out of the 18 blocks were nominated by PXT in areas specifically targeted by the company Activity commitments are US~$100MM over 3-4 years Competitive 9% base royalty rate Commitments are not incremental to current exploration capital plans Strategy to unlock deep portfolio by bringing proven technology to Colombia • Horizontal and multilateral drilling Radial drilling and various stimulation technologies Significantly improved depth and quality of prospect inventory in 2021, which provides long-term resource runway PAREX RESOURCES INC. 4
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