GeoPark (GPRK) investor relations material

Executive summary

• Exceeded all 2025 guidance metrics with operational discipline, portfolio reset, and production inflection, despite Brent oil price dropping to $68.2/bbl from $79.8/bbl year-over-year.

• Production averaged 28,233 boepd for 2025, above guidance, with stabilization in Colombia and early contributions from Argentina.

• Major milestones included the acquisition of Vaca Muerta assets in Argentina and the announced acquisition of Frontera's Colombian upstream assets, expected to double reserves and significantly increase production.

• Initiated cost-saving initiatives, generating $32 million in structural cash cost savings in 2025.

• The company remains focused on disciplined capital allocation, strong governance, and long-term value creation.

Financial highlights

• FY2025 revenue was $492.5 million, down from $660.8 million in FY2024.

• Adjusted EBITDA reached $277.1 million for the year, within guidance; Q4 Adjusted EBITDA was $46.3 million, impacted by non-recurring items.

• Operating costs averaged $13.2/boe and G&A $4.8/bbl, both within guidance.

• Achieved $32 million in structural cash savings, with a run rate of $45 million annualized savings expected in 2026 and beyond.

• Cash balance over $100 million; net leverage at 1.6x; no material debt maturities until 2027.

Outlook and guidance

• 2026 guidance: lifting costs $13–$15/bbl, G&A ~$4/bbl.

• Targeting 44,000–46,000 boepd and Adjusted EBITDA of $490–$520 million by 2028, with upside from Frontera integration.

• Pro forma production could exceed 90,000 boepd and Adjusted EBITDA ~$950 million by 2028 post-acquisitions.

• Over 84% of 2026 production hedged; hedging for 2027 underway.

• Board declared a $0.03/share quarterly dividend; future distributions to be reassessed after Vaca Muerta investments normalize.