Parex Resources (PXT) AGM 2026 summary

Opening remarks and agenda

• Meeting opened by Board Chair, who also acted as chair for the session.

• Hybrid format enabled both in-person and virtual participation, including voting and Q&A.

• Directors and executive team introduced; outgoing Chair thanked stakeholders and welcomed incoming Chair.

• Secretary and scrutineer appointed; procedures set to expedite resolutions.

• Outlined a strategy to become the largest independent, Colombia-focused oil and gas company, emphasizing value creation since 2009 and a sustainable growth portfolio.

Financial performance review

• Financial statements for the year ended December 31, 2025, and auditor's report presented and distributed to shareholders.

• Targeting over 15% annual shareholder return, with 3-5% growth through technology and stable dividends, allocating excess free cash flow to debt repayment.

• Operational capability rebuilt post-COVID, returning over C$1.6B to shareholders from 2020–2025.

• H2 2026 production guidance set at 82,000–91,000 boe/d, nearly double prior levels.

Board and executive committee updates

• Outgoing Chair reflected on 23 years of service and expressed confidence in the company's future.

• Incoming Chair introduced, with emphasis on leadership continuity.

• Leadership emphasized disciplined capital allocation, sustainable dividends, and debt repayment as key priorities.