May 2025 DIVERSIFIED OIL & GAS PRODUCER FOCUSED ON LONG TERM VALUE CREATION www.grantierra.com
INTRODUCTION Slide 3 www.grantierra.com
WHO IS GRAN TIERRA Focus on Full Cycle Low-Cost Leaders in Free Cash Diversified Company Operator Sustainability Flow Focused on Prudent utilization of Acquisition of i3 Focused on Top quartile safety reinvesting in the free…
GRAN TIERRA SNAPSHOT CORE AREAS WITH SCALABLE UPSIDE AND DEVELOPMENT OPPORTUNITIES Highlights Reserve Highlights (2) Q1/2025 Liquids/Gas (1) Production 1P Reserves Ecuador 9% 47 80%/ 167 MMBOE (2) Canada 36% MBOEPD (1) 20% 10…
BUILDING FOR THE FUTURE GRAN TIERRA IS WELL POSITIONED FOR PRODUCTION AND RESOURCE GROWTH Proven Track Record of Acquiring and Maximizing Value of Oil and Gas Assets Canadian acquisition sets Gran Tierra up for years of future…
ACQUISITION LOOKBACK Slide 7 www.grantierra.com
ACORDIONERO LOOKBACK TIMELINE July 2016: 2020: Focus on power 2022: 22 development 2024: 8 Acquired PetroLatina for 525 MM securing 2018: 14 development reliability and expansion wells drilled, increasing wells drilled, facilities…
SURORIENTE LOOKBACK TIMELINE April 2023: 20 year contract extension allowing long-term investment in infrastructure and work 2025: Plan to drill 5 development wells February 2019: programs to EOR efficiency in existing fields, and…
CANADA ACQUISITION LOOKBACK Highlights Acquisition Metrics Pre & Post Canadian Acquisition % Change vs GTE New Country Entry with compelling asset portfolio assets in Price USD 157.5 million3 South American Assets various lifecycle…
GRAN TIERRAS FOCUSED STRATEGY WHY CANADA FITS ACQUISITION CHECKLIST Proven Hydrocarbon Basins World-class program targeting large prospect inventory across proven plays in Alberta Access to Established Infrastructure Spare…
NORTH AMERICA CRUDE OIL & NATURAL GAS PLAYS1 Half-Cycle Payout Period 2X Half-Cycle Payout Period Half-Cycle Payout Period 2X Half-Cycle Payout Period WTI US72/B US72/B WTI US72/B US72/B PAR C92/B C92/B PAR C92/B C92/B NYMEX…
2024 RESERVES Slide 13 www.grantierra.com
GLOBAL PORTFOLIO 2021-2024: 1P/2P RESERVE1 AND RESERVE LIFE INDEX GROWTH2 300 30 HIGHLIGHTS 1P South America 300 2P South America 30 1P Canada 2P Canada 1P RLI Portfolio Longevity 250 25 2P RLI 250 25 2024 focused on resource…
YEAR-END 2024 RESERVES1 BALANCED PORTFOLIO WITH CASH FLOW GENERATING AND GROWTH ASSETS HIGHLIGHTS COLOMBIA ECUADOR CANADA Reserves by Category Reserves by Category Reserves by Category (MMBOE) 1P 2P 3P (MMBOE) 1P 2P 3P (MMBOE) 1P 2P…
2025 GUIDANCE & 5 YEAR PLAN Slide 16 www.grantierra.com
2025 KEY OBJECTIVES 2025 Budget1 Low Case Base Case High Case Budgeted Costs Costs per BOE (/boe) Fully Funded Capital Program Generating Brent Oil Price (/bbl) 65.00 75.00 85.00 Lifting 12.00-14.00 Free Cash Flow WTI Oil Price (/bbl)…
FINANCIAL OBJECTIVES FOR 2025 AND BEYOND Based on the base case of guidance we target to generate 20 million of free cash Generation of free flow1. Being the operator of the majority of our assets, we can adjust capital cash flow1…
DEBT MATURITY PROFILE ALIGNED WITH FUTURE CASH FLOWS DEBT INSTRUMENTS OIL AND GAS HEDGING STRATEGY US683MM3 of Net Debt Gran Tierra is operator of the majority of its assets resulting in flexibility when allocating capital and having…
2025+ DIVERSIFIED OPPORTUNITY PORTFOLIO PORTFOLIO DIVERSE OPPORTUNITY FOCUSED ON SHORT-CYCLE PORTFOLIO TIMES, PROVEN BASINS & ACCESS TO INFRASTRUCTURE Genesis Norte Genesis Sur Rose 2 Portfolio in 5 proven COLOMBIA multizone…
HIGH IMPACT EXPLORATION PORTFOLIO PUTUMAYO & ORIENTE: UNDEREXPLORED, PROVEN BASINS Colombias Putumayo basin 7 TIMES the area for seismic is underexplored due to past coverage1 in the Oriente above-ground security 3,400 km2 vs 25,150…
10 OIL DISCOVERIES IN ECUADOR With every oil discovery, Gran Tierra IMMEDIATE has promptly transported barrels to MONETIZATION market, swiftly monetizing them to realize economic benefits quickly Three of these five wells are…
ASSET MANAGEMENT KEY RESERVOIRS Colombia and Ecuador N Sand / Basal Tena 100,000 Caballos/Hollin & T Sand Lisama 10,000 100s mD to multiple Darcy reservoirs 1,000 Canada High quality conventional Clearwater reservoirs with…
SUCCESSFUL AND EFFICIENT BUSINESS MODEL RESULTING IN SOLID OIL RECOVERY FACTORS TYPICAL WATERFLOODS SIGNIFICANTLY INCREASE PRODUCTION, RECOVERY WATERFLOOD OIL RECOVERY PROCESS SCHEMATIC1 FACTORS & RESERVES2 Fill Up Incline Period…
COSTAYACO WATERFLOOD PERFORMANCE - HISTORICAL Original Recoverable Current 83% ACR2 92% CYC2 watercuts: STARTED INJECTION Waterflood Incremental Above 1P YE2010 Production YE 2010 to 2024 December 31, 2024 Water…
ACORDIONERO OVERVIEW 81,000 BWIPD Activity Map 100% 2024 Peak Working Interest Water Injection Rate 2013 November 2039 First Production Contract Expiry Year Asset Overview Acordionero (ACD) is a cash cow, generating 212 MM…
CHAZA OVERVIEW 84,800 BWIPD (CYC) Activity Map 100% 18,850 BWIPD (MQT) Working Interest 2024 Peak Water Injection Rate 2007 (CYC) June 2033 (CYC) 2010 (MQT) Dec 2037 (MQT) First Production Contract Expiry Year Asset Overview…
SURORIENTE OVERVIEW Activity Map 47% 4,230 BOPD Working Interest 2024 Peak Oil Rate 2004 Sept. 2043 First Production Contract Expiry Year Asset Overview In September 2023 a 20-year contract extension began for the block…
COHEMBI FIELD UNDERDEVELOPED N SAND FIELD Caiman-7 Drilled in 1970 High-quality, waterflooded N Sand reservoir oil saturated sandstone 6 of 10 development commitment wells planned and ready to drill Confirms reservoir presence and…
CHANANGUE OVERVIEW Activity Map 100% 733 MSTB Working Interest Oil Produced to Date 2022 20 years First Production Contract Expiry upon Year approved FDP Asset Overview Commitments completed and working on field development…
CHARAPA OVERVIEW Activity Map 100% 621 MSTB Working Interest Oil Produced to Date 2022 20 year First Production Contract Expiry Year Asset Overview 20-year contract for the block commencing after the end of the exploration…
CLEARWATER OVERVIEW 75% Activity Map 300 BOPD Working December 2024 Interest 734 No Expiry Identified Gross Concerns Locations Contract Expiry Asset Overview Exposure to an extensive land base (92,000 gross and 69,227 net…
SIMONETTE OVERVIEW 50% Activity Map 1,100 BOEPD Working December 2024 Interest 306 No Expiry Identified Gross Concerns Locations Contract Expiry Asset Overview Active Montney Oil horizontal development under the recent…
CENTRAL OVERVIEW 49% Activity Map 12,500 BOEPD Working December 2024 Interest 836 No Expiry Identified Gross Concerns Locations Contract Expiry Asset Overview Extensive land base with 298,000 net acres, majority of the land…
WAPITI OVERVIEW 27% Activity Map 2,600 BOEPD Working December 2024 Interest 193 No Expiry Identified Gross Concerns Locations Contract Expiry Asset Overview Extensive contiguous land base of 100,000 net acres covering…
ACCESS TO EXISTING TRANSPORTATION INFRASTRUCTURE IN ECUADOR AND COLOMBIA Gran Tierra benefits from large spare capacity in pipelines & trucking throughout Colombia & Ecuador, which leads to: Quick access to world markets through…
TRANSPORTATION AND INFRASTRUCTURE IN CANADA Key Oil Takeaway Projects Line 3 Replacement Trans Mountain Expansion (Enbridge) Project (Government of Canada) Replace all remaining segments The TMX Project twins the Project Details of…
COMMODITY PRICING South America - Key Differentials Ice Brent Diff. Vasconia Diff. Castilla Diff. Oriente USD - Diff. Castilla avg Diff. Vasconia avg Diff. Oriente avg Crude oil prices strong in Colombia USD (2.00) USD 100.00 &…
ESG Slide 44 www.grantierra.com
HSE IS A KEY PRIORITY AT GRAN TIERRA LTIF1,3 TRIF2,3 GTE TRIF 0.5 GTE LTIF 0.5 North America Average North America Average South America Average 0.4 South America Average 0.4 0.3 0.3 0.2 0.2 0.12 0.08 0.07 0.08 0.1 0.1 0.04…
ENVIRONMENTAL HIGHLIGHTS 25% 93% 77% 72% Decrease in Scope 1 & 2 Operational Injected Water Decrease in Flaring Total Energy used in Greenhouse Gas Emissions was Recycled in South Emissions in Colombia & Operations was Generated by…
IMPACT INVESTMENT & HUMAN RIGHTS BIODIVERSITY PROTECTION ECONOMIC DEVELOPMENT HUMAN RIGHTS 689 families are producing high-quality cocoa through the 689 NaturAmazonas program. In 2024, one of the worlds largest buyers of FAMILIES…
ASSET MANAGEMENT SECTION WATERFLOODING - FOOTNOTES 1) Source: SNF Floerger Oil & Gas Enhanced Oil Recovery 2) Copyright 1991, SPE, from JPT, October 1991 3) https://www.spe.org/en/industry/increasing-hydrocarbon-recovery-factors/ 4)…
GLOSSARY OF TERMS NON-GAAP TERMS OIL & GAS Funds flow from operations (Funds flow or FFO): is defined as net income or loss adjusted for DD&A expenses, deferred tax expense or recovery, stock-based compensation expense, amortization of…
NON-GAAP MEASURES Forward-Looking Non-GAAP Measures This presentation includes forward-looking non-GAAP financial measures as further described herein. These non-GAAP measures do not have a standardized meaning under GAAP. Investors are…
1P, 2P AND 3P RECONCILATION Reconciliation of 5-year funds flow to Future Net Revenue After Future Taxes ( millions) 1P 2P 3P Future Net Revenue After Future Taxes per Reserves PR (January 1,230 1,486 1,748 23, 2025) G&A and…
CONTACT US 500 CENTRE STREET SE, CALGARY, ALBERTA, CANADA T2G 1A6 Investor Relations: Tel: +1-403:265-3221 Email: infograntierra.com Slide 57 Generating Long-Term Value May 2025