Mr. Mike Kruchten reports

PAREX RESOURCES ANNOUNCES PRODUCTION UPDATE AND TIMING OF Q3 2024 RESULTS

Parex Resources Inc. has provided a production update as well as its plan to release its third quarter 2024 financial and operating results on Tuesday, Nov. 5, 2024.

Q3 2024 production update:

• Q3 2024 average production was 47,569 barrels of oil equivalent per day.
• Average production was in line with the most recent production guidance.
• September, 2024, production was supported by a new well at Capachos.
• Parex's production guidance incorporates a range of technical outcomes and contingency for significant downtime events. There were no notable downtime events during the quarter.

Q3 2024 conference call and webcast

Parex will host a conference call and webcast to discuss its Q3 2024 results on Wednesday, Nov. 6, 2024, beginning at 9:30 a.m. MT (11:30 a.m. ET). Additional details will be available on the company's website in due course.

About Parex Resources Inc.

Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable, conventional production. The company's corporate headquarters is in Calgary, Canada, with an operating office in Bogota, Colombia.

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