The Parex Advantage

Arauca MOU with Ecopetrol in High-Potential Foothills Trend ◉ ■ Memorandum of Understanding (MOU) with Ecopetrol S.A. MOU signed with Ecopetrol, Colombia's national oil company Building on existing, successful relationship with Ecopetrol Area of coverage spans 13 blocks in the high-potential Foothills trend in the Llanos Basin Focus of the MOU Maximize synergies within the trend Capitalize on use of existing infrastructure ~270 km MOU Coverage Area Gibraltar Piedmonte A Capachos Progress is already underway Capachos farm-in: operating block Arauca & LLA-38 farm-in: first well was spud in Q1 2023 Next step: LLA-122 (Arantes) to be spud in Q4 2023 Cupiagua Cusiana Nearby Producing Field Analogues(1) Arantes-1 ECP & PXT Land ECP W.I. Land PXT W.I. Land Open Land Gas Field Prospect/Lead Discovered Field +5km 15 kra 25 kni Basin: Foothills Production: ~25,000 boe/d Cumulative Recovery: ~150 mmboe (1) Source: IHS; See "Analogous Information" advisory. 26 26

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