Frontera Energy Acknowledges Receipt and is Considering The Unsolicited Proposal from Parex Resources Inc.

Core Viewpoint - Frontera Energy Corporation acknowledges receipt of an unsolicited acquisition proposal from Parex Resources for its Colombian upstream exploration and production assets, which are also under an agreement to be sold to GeoPark Limited [1] Group 1: Acquisition Proposals - Frontera has received an unsolicited proposal from Parex Resources to acquire its upstream Colombian exploration and production business [1] - The assets in question are the same that Frontera has agreed to sell to GeoPark Limited under a previously announced arrangement agreement dated January 29, 2026 [1] - The Frontera Board of Directors is reviewing the Parex proposal while continuing to recommend the GeoPark transaction to its shareholders [1] Group 2: Company Overview - Frontera Energy Corporation is a Canadian public company engaged in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America [1] - The company has a diversified portfolio with interests in 18 exploration and production blocks in Colombia and Guyana, along with pipeline and port facilities in Colombia [1] - Frontera is committed to conducting its business in a socially, environmentally, and ethically responsible manner [1]