The Parex Advantage

VIM-1: Exceptional Well Results Driving Facility Expansion Basin: Magdalena Operator: PXT W.I.: 50% A Depth South La Belleza-1 La Belleza-2 VIM-1 Facility CDO Limestone North Zone 1 Upper CDO Zone 2 Lower CDO Key Takeaways La Belleza-2 well tested at ~38.5 mmcf/d gas and 7,500 bbl/d (gross) at 10% drawdown (1) ■ Gas reinjection is proven technology to increase liquids recovery factor ■ Current injection facility limited to 20 mmcf/d; planning to expand the facility in 2024 Injecting gas to increase liquids recovery while planning to build a long-term infrastructure solution to monetize dry gas (1) See "Oil and Gas Information" advisory; well test details (see December 6, 2022 news release). 36

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