The Parex Advantage

Arauca: Building Off of Capachos to Drive Future Growth Basin: Northern Llanos Operator: PXT W.I.: 50% A Arauca-8 Depth Arauca-15 Arauca-11 Arauca-81 (Big 'E') South North Zone 1 Barco Historical Wells Tested(1) Zone 2 Guadalupe Zone 3 ◉ Une Historical Capability >5,000 bbl/d Utilizing PXT production practices ~10MM bbl produced from three wells in a single zone Key Takeaways Targeting proven, multi-zone reservoirs ■ Modern 3D processing being applied ■ Prolific Une zone has never been penetrated ■ Utilizing Capachos drilling knowledge to drive strong capital efficiency ☐ Initial facility capacity ~40,000 bfpd By 2025, expect to grow field from 0 to ~20,000 boe/d gross (1) Source: International Petroleum (Colombia) Ltd.; see "Oil and Gas Information" advisory. 34

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