GTE News & Events

December 2025 Average Production: The Company's achieved a total Company average production of 48,235 boepd for the month of December, 2025 - the highest monthly production achieved in Company history. Ecuador: Production: During the fourth quarter of 2025, Gran Tierra achieved a daily production rate of 10,000 bopd in Ecuador. Current production rates are approximately 8,800 barrels of oil per day. Fulfilled Ecuador Exploration Commitments: All Ecuador exploration commitments have been finalized, highlighted by successful discoveries at Conejo in the Hollin and Basal Tena sands, which together delivered combined IP60 rates of approximately 3,238 bopd. Conejo A-1 and A-2 Wells: The two Conejo wells continue to produce1 roughly 2,700 barrels of oil per day. Both discoveries added drilling locations. IP60 production rates from A1 and A2 are 1,921 and 1,317 bopd respectively. Field Development Plans: In the first quarter of 2026, the Iguana FDP was approved. The Chanangue FDP received approval in the third quarter of 2025, while the Charapa and Conejo FDPs were formally submitted in fourth quarter of 2025 and remain under review. In addition, the Perico and Espejo FDPs associated with the previously announced acquisition, have been submitted and are currently undergoing the regulatory review process. Perico and Iguana Field: The Perico field has now been fully integrated into our portfolio with optimizations being developed to capture synergies as we move into 2026 - these include projects such as gas to power, waterflood initiation and operational optimizations. Waterflood: Gran Tierra continues to advance it waterflood development program in line with the approved field development plan. A successful injectivity test in the Basal Tena in the Chanangue field was completed, a key technical milestone supporting the water injection pilot. Construction of the associated water treatment and injection facilities is progressing, targeting an early 2026 injection start. In parallel, the Company plans a second injector conversion in the Basal Tena at Chanangue in the second quarter of 2026, alongside additional injector conversions in the Lower U at the Iguana and Perico fields in second quarter and third quarter 2026, respectively. Colombia: Cohembi: At Cohembi North, infrastructure activities continue to progress in support of the Company's forward drilling and development program, including cellar construction and associated electrical and mechanical tie-ins. Work is also underway on Cohembi Pad 6, with additional cellars being constructed to provide flexibility for upcoming development and exploration activity. During the fourth quarter of 2025, gross production at Cohembi increased to approximately 9,100 bopd, driven by the successful delivery of the Raju-1 well and a strong response from the ongoing waterflood program in the northern portion of the field. As a follow-up, the Company plans to drill four gross development wells in Cohembi during the First Half of 2026. The Company expects its capital carry commitments to be completed by mid-2026, after which working interest and cost sharing will revert to standard terms, improving Gran Tierra's cash netbacks and capital efficiency on future activity. Canada: Simonette: At Simonette, Gran Tierra continues to see strong operating performance, with recently drilled Lower Montney wells meeting or exceeding type curve expectations reinforcing confidence in the asset's development potential and supporting stable production and cash flow generation going forward. To date, three surface holes have been drilled from the 6-9 pad and are currently drilling the 16-14-061-01W6 well in the lateral section. The plan is to bring 5 gross wells onstream in Second Half of 2026. Clearwater: Gran Tierra is preparing to follow up Dawson 102/12-11 through advanced core analysis. Completion of the core study in 2026 will inform well design, mud system selection, and geological modeling to maximize development value.

Although Gran Tierra's results of operations as of and for the year ended December 31, 2025, are not yet final, based upon currently available information, Gran Tierra estimates that as of and for the year ended December 31, 2025: Total company average production was approximately 46,500 BOEPD for the fourth quarter of 2025, and approximately 45,800 BOEPD for the year ended December 31, 2025; Estimated unaudited net debt as at December 31, 2025, was approximately $657 million, comprised of senior notes outstanding of $741 million less cash and cash equivalents of $83 million; Capital expenditures are estimated to be in the range of approximately $250 million to $270 million; Revenue is estimated to be in the range of approximately $590 million to $610 million; Gross profit is estimated to be in the range of approximately $65 million to $75 million; Depletion and accretion expense is estimated to be in the range of approximately $250 million to $270 million; Total operating expenses and total transportation expenses are estimated to be in the range of approximately $250 million to $270 million; Operating netback is estimated to be in the range of approximately $320 million to $340 million; Gran Tierra is expected to record a non-cash impairment charge in the range of approximately $65 million to $85 million, relating to certain of its Canadian long-lived assets, and in the range of approximately $30 million to $50 million, relating to certain of its Colombian long-lives assets; and Adjusted EBITDA for the year ended December 31, 2025, is estimated to be between $270 million to $290 million. The fourth quarter of 2025 financial results were negatively impacted by a large inventory build of approximately 291,000 barrels of oil in Ecuador which were sold in early January for total revenue of approximately $15 million.