☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34018 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) GRAN TIERRA ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 98-0479924 ( ...

Financial Data and Key Metrics Changes - Gran Tierra achieved year-over-year production growth of 16% and recorded the highest annual figures in net income, funds flow from operations, and free cash flow in the company's history [7][39] - Funds flow from operations reached $366 million, resulting in free cash flow of $129 million, both records for the company [8] - Net income for 2022 was $139 million, with earnings per share at $0.38 [39] - Adjusted EBITDA was $490 million, equating to $1.34 on a basic per share basis [39] - The company reduced its debt by $88 million, finishing the year with $127 million in cash and a net debt to adjusted EBITDA ratio of 0.9 times [40] Business Line Data and Key Metrics Changes - Gran Tierra's capital spend totaled $237 million for the year, balanced between exploration and development activities, leading to reserves and profitable production growth [15] - The operating netback was $48.43 per barrel, up 43% from $33.75 in 2021 [16] - Significant growth in year-end reserves was achieved, with 1P NPV10 before tax increasing by 26% compared to 2021 [26] Market Data and Key Metrics Changes - The company reported a strong recovery in oil prices, which contributed to the increase in net asset values per share [52] - The Vasconia and Castilla pricing discounts widened at the end of last year but began to tighten in February 2023, driven by a lack of heavy oil demand, particularly from China [33][60] Company Strategy and Development Direction - Gran Tierra is focused on being a full-cycle oil and gas exploration, development, and production company, emphasizing value creation for stakeholders [29] - The company plans to continue its appraisal of new discoveries and exploration drilling while generating free cash flow to strengthen its balance sheet and potentially return capital to shareholders through share buybacks [51] - Gran Tierra is exploring opportunities in other basins globally, including Africa and the Middle East, to diversify and mitigate risk [132] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's geological understanding of the basins, supported by successful exploration discoveries in 2022 [38] - The company anticipates a steady ramp-up in production volumes throughout 2023, with expectations to exit the year around 34,000 barrels per day [104] - Management is optimistic about the potential for contract renewals and ongoing discussions with Ecopetrol regarding the Suroriente asset [57][92] Other Important Information - Gran Tierra invested over $4.6 million in local projects in Colombia and Ecuador in 2022, focusing on community needs [19] - The company has created approximately 26,000 labor opportunities in Colombia since 2015 [43] Q&A Session Summary Question: What is the outlook on operating costs for 2023? - Management believes operating costs will be similar in 2023 compared to 2022, but per unit costs will decrease due to higher production [30] Question: What is driving the wider discounts in pricing? - The discounts are primarily due to a lack of heavy oil demand, especially from China, but are expected to narrow as the year progresses [60] Question: What is the target debt level going forward? - The company aims for a net debt-to-EBITDA ratio of between 0.8 to 1.0 times, with a gross debt target of between $500 million and $550 million [85] Question: How does the company view potential restrictions on exploration? - Management is confident in their current exploration portfolio and is actively looking for opportunities in other basins, including Ecuador [131] Question: What is the company's approach to share buybacks? - Gran Tierra plans to maximize its share buyback program, especially when trading at a substantial discount to NAV, and is looking to renew the program once the current limit is reached [95][124]

February 2023 GENERATING LONG-TERM VALUE INTERNATIONALLY www.grantierra.com GENERAL ADVISORY | --- | --- ...

Oil Production and Sales - In 2022, total oil production reached 8,692,689 barrels, an increase of 10.3% from 2021's production of 7,879,794 barrels[67] - The average sales price of oil per barrel in 2022 was $81.84, up 36.1% from $60.12 in 2021[67] - Approximately 99% of production comes from Colombia, with the Acordionero field contributing 52% of total production in 2022[72] Operating Expenses and Financials - Operating expenses per barrel increased to $19.85 in 2022 from $18.70 in 2021, reflecting a rise of 6.1%[67] - The company’s revenues are primarily derived from oil sales at Brent pricing, which is subject to market volatility[282] - 100% of the company's revenues are in U.S. dollars, mitigating foreign currency risk related to oil pricing[283] - The company’s credit facility remained undrawn at $67.5 million as of December 31, 2021, indicating no current exposure to interest rate fluctuations[285] - A 10% change in interest rates would not materially affect the value of the company's investment portfolio[287] Drilling and Operations - The company drilled 34 wells in 2022, compared to 22 in 2021, indicating a significant increase in drilling activity[69] - As of December 31, 2022, the company had 287 gross oil wells, with 285 located in Colombia and 2 in Ecuador[70] - The developed acreage totaled 330,029 gross acres in Colombia, while undeveloped acreage was 1,267,601 gross acres[71] Contracts and Regulations - The company has sales agreements with international marketers, with contracts for Putumayo and MMV production expiring on March 31, 2025[75] - The company operates under contracts with the ANH in Colombia, which provide full risk/reward benefits for the contractor[83] - The Ecuadorian operations are regulated by the Ministry of Energy and Mines, which oversees oil and gas contracts in the country[86] - The company holds three Participation Contracts for hydrocarbon exploration and exploitation, with a typical exploration period of 4 years and a possible 2-year extension due to government delays[87] - The exploitation period for these contracts lasts 20 years from the approval of the development plan for commercial hydrocarbon discoveries[87] Workforce and Environmental Management - As of December 31, 2022, the company employed 336 full-time employees, an increase from 319 in 2021, with 235 located in Colombia[91] - The company has implemented an Environmental Management System certified to ISO14001:2015, ensuring compliance with international environmental standards[90] - The company has a Corporate Health, Safety, and Environmental Management Policy to protect employees and contractors[92] - The company is committed to increasing gender and diversity representation in its workforce and supply chain[93]

Financial Data and Key Metrics Changes - Gran Tierra achieved $94 million in funds flow and $37 million in free funds flow for Q3 2022, with a net income of $39 million, reflecting a 10% increase from Q3 2021 [8][11] - The company generated $168 million in oil sales, up 24% year-over-year, but down 18% from the previous quarter [12] - The average Brent oil price was $97.70 per barrel, a 33% increase from a year ago, but down 13% from the prior quarter [10] - The company exited the quarter with $118 million in cash and net debt of $462 million, with a 2.9% reduction in total outstanding shares [9] Business Line Data and Key Metrics Changes - Total average production in Q3 was 30,391 BOPD, a 5% increase from Q3 2021, but flat compared to Q2 2022 [11] - The Suroriente Block in Colombia faced disruptions, impacting production by approximately 920 BOPD [11][29] - Capital expenditures for Q3 were $57 million, lower than the previous quarter's $65 million, as major development programs were completed [13] Market Data and Key Metrics Changes - The company's quality and transportation discount widened to $13.37 per barrel in Q3, up from $13 per barrel in the prior quarter [10] - Operating netback for Q3 was $44.26 per barrel, a 28% increase year-over-year, while cash netback per barrel was $33.42, down from $37.71 in the prior quarter [12] Company Strategy and Development Direction - Gran Tierra is focused on enhancing recovery in major fields and expanding waterflood projects, with plans for 2023 development and exploration capital programs [15][34] - The company is monitoring potential changes in Colombia's tax regime but remains optimistic about the long-term investment environment [15][44] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving a strong finish for 2022, with current production averaging approximately 32,000 BOPD [15] - The company is optimistic about exploration results in both Colombia and Ecuador, with plans for further drilling [18][20] Other Important Information - Gran Tierra repurchased approximately $20.1 million face value of senior notes, generating interest savings of about $3 million [14] - The company plans to continue share repurchases and bond buybacks, depending on market conditions [36] Q&A Session Summary Question: Increase in lifting costs - Management attributed the increase to global inflation and noted that as production ramps up, per unit costs will decrease [26][27] Question: Production impact due to operational disruptions - Disruptions were primarily in the Suroriente Block due to blockades against the central government, impacting production by around 920 BOPD [28][29] Question: Year-end cash position guidance - Management expects to achieve a cash position of about $190 million, with contributions from working capital and tax refunds [30] Question: Future production expectations for FY '23 - Management indicated that guidance for 2023 will be released in mid-December, with a focus on expanding waterfloods and recovery [32][34] Question: Bond repurchase strategy - Management plans to continue bond repurchases and share buybacks, balancing capital allocation based on market conditions [35][36] Question: Exploration commitments in Ecuador - The company has a commitment of 14 wells in Ecuador, with plans for additional drilling based on success [49] Question: Production ramp-up from Ecuador - Management indicated that production could ramp up quickly following positive test results from ongoing drilling [54][55] Question: Impact of new tax structure - Management is reluctant to quantify potential impacts until legislation is finalized, with more clarity expected in December [60][61]

Financial Data and Key Metrics Changes - Gran Tierra generated net income of $53 million, up 275% from the prior quarter and compared to a net loss of $18 million in Q2 2021, resulting in earnings of $0.14 per share, up from $0.04 in the prior quarter [7] - Oil production averaged 30,607 barrels per day, up 4% from the prior quarter and up 33% year-on-year, marking the highest quarterly production since Q4 2019 [8] - Operating net back was $59.62 per barrel, the highest since Q3 2014, up 14% from the prior quarter and up 81% year-on-year [9] - Funds flow from operations increased by 345% to $104 million compared to a year ago, and was up 19% from the prior quarter, with a diluted per share basis of $0.28, up from $0.06 in Q2 2021 [10] Business Line Data and Key Metrics Changes - In the Acordionero field, the average drilling time for development wells decreased from 5 days to 4.5 days, with average per well drilling costs reduced to $1.2 million, 9% lower than budgeted [16] - The Costayaco development program was completed under budget, with all 5 wells completed during the first half of the year [18] Market Data and Key Metrics Changes - As of June 30, 2022, the company had a cash balance of $109 million and net debt of $491 million, with an annualized Q2 net debt-to-EBITDA ratio below one times [13] Company Strategy and Development Direction - The company plans to maintain a cash balance of $75 million to $100 million for liquidity and deploy excess cash to strengthen the balance sheet, buy back shares, and pursue accretive opportunities [14] - The company is closely monitoring regulatory developments in Ecuador and Colombia, with potential reallocation of capital based on the political environment [32] Management's Comments on Operating Environment and Future Outlook - Management is assessing the impact of proposed tax reforms in Colombia, indicating that the tax reform is still a proposal and subject to legislative processes [22][23] - Management expects to see a decrease in per barrel lifting costs as production volumes increase in the second half of the year [28] Other Important Information - Gran Tierra fully repaid its credit facility, demonstrating a commitment to reducing debt with free cash flow [12] - The company is targeting a net debt-to-EBITDA ratio of under one times, assuming a $60 per barrel Brent case [13] Q&A Session Summary Question: Impact of proposed tax reform on EBITDA - Management is still assessing the implications of the tax reform proposal and its potential impact on effective tax rates [22][23] Question: Expectations for lifting costs in the upcoming quarters - Management expects lifting costs to decrease as production volumes increase, maintaining guidance within the targeted range [28] Question: Capital allocation in Ecuador based on exploration success - Management indicated that if regulatory conditions slow down in Colombia, they would reallocate capital to Ecuador, where they have prospective blocks [32] Question: Guidance on exit production for 2022 - Management expects exit production to be in the low 30,000s barrels per day, focusing on developing water floods [56] Question: Hedging arrangements and impact from hedges - Management reported hedging losses in the first half of the year around $26 million to $27 million, and they are currently assessing hedging arrangements going forward [54] Question: Developments regarding credit facility replacement - Management is looking to replace the credit facility with a smaller one in the range of $75 million to $125 million [63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ GRAN TIERRA ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 98-0479924 (State or other jurisdiction of inc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34018 GRAN TIERRA ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 98-0479924 ( ...

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 001-34018 GRAN TIERRA ENERGY INC. (Exact name of registrant as specified in its charter) Delaware 98-04799 ...

Gran Tierra Energy Inc. (NYSE:GTE) Q2 2021 Earnings Conference Call August 4, 2021 11:00 AM ET Company Participants Gary Guidry – President and Chief Executive Officer Ryan Ellson – Executive Vice President and Chief Financial Officer Rob Will – Vice President of Asset Management Conference Call Participants Josef Schachter – Schachter Energy Al Stanton – RBC Phil Skolnick – Eight Capital David Herzberg – Stifel Patrick O'Connell – AllianceBernstein Al Chang – Citi Operator Good morning, ladies and gentleme ...