Mr. Mike Kruchten reports

PAREX RESOURCES ANNOUNCES TIMING OF Q1 2024 RESULTS, ANNUAL GENERAL MEETING, AND FOOTHILLS INVESTOR PRESENTATION

Parex Resources Inc. is planning to release its Q1 2024 financial and operating results on Wednesday, May 8, 2024, and hold its annual general and special meeting of shareholders on Thursday, May 9, 2024, and host an investor presentation providing an overview of the Llanos Foothills trend on Tuesday, April 23, 2024.

Q1 2024 Results - Conference Call & Video Webcast

Parex will release its Q1 2024 financial and operating results after markets close on Wednesday, May 8, 2024.

The Company plans to host a conference call and video webcast to discuss its Q1 2024 results on Thursday, May 9, 2024, beginning at 9:30 am MT (11:30 am ET). To participate in the conference call or video webcast, please see the access information below:

Conference ID: 1 335 335

Participant Toll-Free Dial-In Number: 1-888-550-5584

Participant International Dial-In Number: 1-646-960-0157

Webcast: https://events.q4inc.com/attendee/326628133

Annual General & Special Meeting of Shareholders

On Thursday, May 9, 2024, Parex will hold its Annual General and Special Meeting of Shareholders at 11:00 am MT (1:00 pm ET) both in-person and virtually. Participants may gather at the 4th Floor Conference Center, Eight Avenue Place, East Tower, 525, 8th Ave SW, Calgary, Alberta - and virtual participants can join through the following link: https:meetnow.global/MFWYXAV.

Additional information regarding the Annual General and Special Meeting, including meeting materials, can be found at www.parexresources.com under Investors.

Colombia's Llanos Foothills Trend - Investor Presentation

Parex will host an investor presentation on April 23, 2024, during which members of the Company's senior leadership team will provide an overview of the Definitive Agreements to explore Colombia's Foothills Trend, covering the agreement framework, geology, and strategy.

A copy of the presentation will be available at www.parexresources.com under Investors, and an audio replay will be available shortly following the conclusion of the event.

About Parex Resources Inc.

Parex is the largest independent oil and gas company in Colombia, focusing on sustainable, conventional production. The Company's corporate headquarters are in Calgary, Canada, with an operating office in Bogota, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.