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August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc.

Gran Tierra Energy, Inc. · Aug 1, 2021 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 1
    Financial Overview Creating Value & Path to in Colombia Value Creation & Ecuador August 2021 1
  2. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 2
    GRAN TIERRA SNAPSHOT Independent international exploration and production 100% company with assets in Colombia & Ecuador Oil 2020 Reserves1 1P 2P 3P MMBOE 79 133 174 Diversified RLI (years)2 10 17 22 High-quality asset base NPV10…
  3. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 3
    2020 STRONG PERFORMANCE IN A CHALLENGING YEAR Handling challenges with Preserving financial strength Delivering on operational COVID-19 pandemic by adapting to uncertainty targets Diligent management of COVID-19 safety Total…
  4. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 4
    2021 RETURNING TO FREE CASH FLOW Q2/2021 Financial Q2/2021 Operational On Track To Deliver Strong Achievements Achievements Results in 2021 Laser Sharp Focus on Reducing Debt: credit Acordionero continued cost reductions & Revised…
  5. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 5
    NO NEAR-TERM MATURITIES, HEDGING PROGRAM IN PLACE Maturity Profile & Debt Instruments US215MM Committed Credit Facility due 40 2022 - Covenant relief on debt to EBITDAX 300 300 covenant until October 2021 175 US300MM of 2025…
  6. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 6
    GTE UNIQUELY POSITIONED FOR VALUE CREATION World class Sustainable Robust free cash Disciplined development business model flow and financial and low risk Going Beyond with significant attractive returns strategy; prudent…
  7. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 7
    2021 KEY OBJECTIVES Continue to optimize waterfloods & increase recovery factors Increase reserves with minimal capital expenditures 2021 Budget 1 Previous Budget Updated Budget Brent Oil Price (/bbl) 61.00 69.00 Direct free cash flow…
  8. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 8
    GRAN TIERRAS FOCUSED STRATEGY STRATEGY TACTICS Proven, Under-Explored Conventional Apply Proven Technology Hydrocarbon Basins GTE has been able to reduce drilling World-class exploration program targeting large prospect times/costs…
  9. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 9
    GTES CONTRIBUTION AS AN E&P COMPANY Maximize Value GTEs mandate is to develop high value resource opportunities in order to deliver top-quartile returns Social Investments GTE aims to have a meaningful and sustainable impact…
  10. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 10
    CAPITAL ALLOCATION PRINCIPLES & FRAMEWORK Principles Framework DISCIPLINED APPROACH TO Fund growth program through internally generated cash flows MANAGING LEVERAGE Targeting 2022 net debt1 to EBITDA1 of under 1.5x RETURNS…
  11. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 11
    HSE IS A KEY PRIORITY AT GTE 2020 Achievements 0.14 LTIF 0.35 TRIF 0.12 0.3 GTE achieved its BEST SAFETY RECORD, achieving its first year with an 0.1 0.25 Lost Time Incident Frequency (LTIF) of 0.08 0.2 zero, during which the…
  12. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 12
    ENVIRONMENTAL, SOCIAL, GOVERNANCE FACT SHEET Environmental Social Gran Tierra has committed to reforesting 1,000 Over 214,000 people participated & benefited from hectares of land and securing and maintaining GTEs social investment…
  13. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 13
    WATERFLOOD UPDATE 15
  14. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 14
    WATERFLOODING IMPROVED OIL RECOVERY Waterflooding practiced since the 1920s, widest practiced secondary recovery method GTE utilizes waterflood technology in several key pools, improves recovery by: Displacing / sweeping oil towards…
  15. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 15
    WATERFLOODING CANDIDATE SCREENING All of Gran Tierras assets currently under waterflood greatly exceed success factors as per Willhites waterflood screening criteria1 Asset Overview Gran Tierras assets rank as world-class candidates…
  16. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 16
    WATERFLOODING MAXIMIZING FIELD RECOVERY1 Size of the bubble represents 2P OOIP in MMBOE under waterflood 2P Original Oil-In-Place2 (MMbbls) 100% 76 Costayaco 178 75% Cohembi MQT MM 178 179 76 376 MM MM Water Cut (%) 179…
  17. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 17
    COSTAYACO 60,000 WATERFLOOD PERFORMANCE - HISTORICAL Oil Prod. Rate Water Prod. Rate Current watercuts: Production and Injection Rate (barrels per day) 50,000 Water Inj. Rate 1 1P - GLJ YE2010 25% ACR 85% CYC 1 (early life…
  18. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 18
    ASSET OVERVIEW 20
  19. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 19
    2020 RESERVES1 ACORDIONERO COSTAYACO MOQUETA SURORIENTE Reserves by Category Reserves by Category Reserves by Category Reserves by Category 100 25 14 12 12 10 80 20 10 23 8 11 60 81 15 8 12 66 18 10 6 9 40 10 12 6 8 4 6 39 4 20…
  20. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 20
    ACORDIONERO SNAPSHOT Key Highlights Asset Overview 100% WI Gran Tierra Since acquired in 2016, Acordionero has produced 24MMbbls & generated 190MM of free cash flow (June 30, 2021) Increasing water injection has flattened…
  21. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 21
    COSTAYACO SNAPSHOT Key Highlights Asset Overview 100% WI Gran Tierra Multiple, high-quality stacked reservoirs; oil concentrated in the T & Kc sandstone reservoirs Sandstone light oil peripheral waterflood, carbonates light oil…
  22. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 22
    MOQUETA SNAPSHOT Key Highlights Asset Overview 100% WI Gran Tierra Multiple stacked reservoirs, highly structured, oil concentrated in the T & Kc reservoirs Sandstone light oil waterflood development Reserves1 2P reserves of 10…
  23. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 23
    SURORIENTE SNAPSHOT Key Highlights Asset Overview 52% WI Gran Tierra, 48% Ecopetrol GTE became operator in March 2019 Excellent waterflood response observed to date at the Cohembi field, with potential to increase production…
  24. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 24
    TRANSPORTATION 26
  25. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 25
    ACCESS TO EXISTING TRANSPORTATION INFRASTRUCTURE Gran Tierra benefits from large spare capacity in pipelines & trucking throughout Colombia & Ecuador, which leads to: Strong oil prices linked to Brent Narrow oil price differentials…
  26. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 26
    EXPLORATION OVERVIEW 28
  27. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 27
    HIGH IMPACT EXPLORATION PORTFOLIO Putumayo & Oriente: Underexplored, Proven Basins Colombias Putumayo basin is underexplored due to past above-ground security issues, now mitigated by Peace Agreement Same geology as Ecuador, where…
  28. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 28
    Financial APPENDIX Overview & Path to Value Creation 30
  29. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 29
    MCDANIEL PRICE DECKS Jan 1, 2021 Oil Price (US/bbl) Brent Comparison (US/bbl) McDaniel, Jan 1 2021 McDaniel, Jan 1 2020 Brent WTI 85 85 80 80 75 75 70 70 65 65 60 60 55 55 50 50 45 45 40 40 2021 2022 2023 2024 2025 2026…
  30. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 30
    GLOSSARY OF TERMS NON GAAP NON-GAAP TERMS Operating netback: Oil and gas sales less operating and transportation expenses. Operating netback per boe as presented is defined as oil and gas sales price less forecasts of transportation and…
  31. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 31
    GLOSSARY OF TERMS OIL & GAS OIL & GAS TERMS Barrel (bbl) Barrels of oil per day (bopd) Thousand cubic feet (Mcf) Barrels of oil equivalent (BOE) Barrels of oil equivalent per day (BOEPD) Million barrels of oil equivalent (MMBOE)…
  32. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 32
    NON-GAAP MEASURES EBITDA & Adjusted EBITDA EBITDA, as presented, is defined as net income or loss adjusted for depletion, depreciation and accretion (DD&A) expenses, interest expense and income tax expense or recovery. Adjusted EBITDA,…
  33. August 2021 Creating Value in Colombia and Ecuador – Gran Tierra Energy, Inc. – slide 33
    900, 520 3RD AVENUE SW CALGARY, ALBERTA, CANADA T2P 0R3 END Investor Relations 403-265-3221 infograntierra.com 38

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