Mr. Mike Kruchten reports

PAREX RESOURCES ANNOUNCES PRODUCTION UPDATE AND TIMING OF Q2 2026 RESULTS

Parex Resources Inc. has provided a production update as well as plans to release its Q2 2026 financial and operating results on Friday, July 31, 2026.

Q2 2026 production update

• Q2 2026 average production was 54,090 boe/d (barrels of oil equivalent per day).
• Production in June was supported by the successful closing of the acquisition of Frontera E&P (exploration and production) and increased production from near-field exploration success at LLA-111.
• On June 1, 2026, the company successfully closed the acquisition of Frontera E&P, which added over 37,000 boe/d of cash-generating, low-decline production to its June production volumes.
• At LLA-111, three wells are currently producing over 5,000 bbl/d (barrels per day) of medium crude oil, with egress capacity constraining production; Parex expects a continuous exploration and development campaign to enable future growth.
• Parex exited Q2 2026 at approximately 83,000 boe/d and is reiterating its H2 2026 average production guidance of 82,000 to 91,000 boe/d, supported by continuing success at LLA-111, expected new production from the recently announced Ecopetrol partnership in the Magdalena and stable production from base assets.

Q2 2026 results -- conference call and webcast

Parex expects to release its Q2 2026 financial and operating results before markets open on Friday, July 31, 2026, with the company planning to host a conference call and webcast beginning at 9:30 a.m. MT (11:30 a.m. ET). To participate in the conference call or webcast, please see the access information below:

Conference ID:  723 230 174

North America toll-free:   1-833-439-1904

International toll:  1-833-504-8260

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.

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