Frontera Energy Corporation acknowledges receipt from Parex Resources of an unsolicited proposal to acquire all of Frontera's upstream Colombian exploration and production business, being the same assets that that Frontera has agreed to sell to a subsidiary of GeoPark under the previously announced arrangement agreement between Frontera and GeoPark dated January 29, 2026. 

Consistent with its fiduciary responsibilities, the Frontera Board of Directors, in consultation with its legal and financial advisors, is carefully reviewing and considering the unsolicited Parex proposal.

Frontera will continue to advance the transaction under the GeoPark Arrangement Agreement to sell to GeoPark the Frontera E&P Assets which was announced on January 30, 2026. At this time, the Frontera Board continues to recommend the GeoPark transaction to its shareholders.

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