FRONTERA ANNOUNCES THIRD QUARTER 2025 RESULTS

Recorded Web Earnings of $25.4 million, Together with $15 Million in Insurance coverage Recoveries Associated to Sabanero Block

Generated Quarterly Working EBITDA from Persevering with Operations of $86.6 Million

Generated Adjusted Infrastructure EBITDA of $30.4 million and Phase Earnings of $15.5 Million, Led by Sturdy ODL Efficiency

Streamlined Group Leading to Leaner, Extra Environment friendly Construction Producing $10–$15 Million in Anticipated Overhead Financial savings Going Ahead

Decreased Manufacturing Prices 5% and Transportation Prices 1% By means of Operational Enhancements

Averaged 39,240 Boe/d Yr-to-Date, Revised Manufacturing Steering to 39,000 – 39,500 Boe/d

Declared Quarterly Dividend of C$0.0625 Per Share, or $3.1 Million in Mixture, Payable On or Round January 19, 2026

Accelerated Puerto Bahia LPG FID: Part 1 Anticipated To Be Operational within the First Half of 2026

FEC Fairness Certified to Commerce in OTCQX® Finest Market, Offering Improved Investor Visibility and Buying and selling Liquidity 

CALGARY, AB, Nov. 13, 2025 /PRNewswire/ – Frontera Power Company (TSX:FEC) (“Frontera” or the “Firm“) immediately reported monetary and operational outcomes for the third quarter ended September 30, 2025. All monetary quantities on this information launch and within the Firm’s monetary disclosures are in United States {dollars}, except in any other case said. Figures from earlier reporting durations had been revised because of the re-presentation of continuous operations following the divestment of non-core belongings in Ecuador. For extra data, confer with the “Discontinued Operations” part of the interim administration’s dialogue and evaluation for the three and 9 months ended September 30, 2025, dated November 13, 2025 (the “MD&A“).

Gabriel de Alba, Chairman of the Board of Administrators, commented:

“Within the third quarter, Frontera remained centered on implementing capital self-discipline, driving financial savings and effectivity to navigate decrease commodity costs. In the course of the quarter, the Firm generated $86.6 million in Working EBITDA from persevering with operations, generated Adjusted Infrastructure EBITDA of $30.4 million and $115.0 million in money supplied by working actions, prolonged its crude oil hedges by the primary half of 2026 and ended the quarter with $172.1 million of complete money (together with restricted money), underscoring its sturdy steadiness sheet.

Relating to the Firm’s Guyana Exploration enterprise, the Authorities of Guyana, by its counsel, communicated its willingness to take part in a remaining “With out Prejudice” assembly with Frontera and its associate CGX Power Inc (“CGX” and collectively the “Joint Enterprise“) to debate the issues in dispute. The Authorities proposed November 25 or December 2, 2025, as potential dates for this assembly. The Joint Enterprise stays open to participating in good religion discussions with the federal government. 

Frontera continues to prioritize initiatives that drive stakeholder worth. At this time, the Board declared a quarterly dividend of C$0.0625 per share, or roughly $3.1 million in mixture, and yr to this point, the Firm has repurchased 385,200 shares by way of its Regular-Course Issuer Bid (“NCIB“) program. During the last twelve months, Frontera has returned over $112 million to shareholders by way of dividends and share repurchases, together with $66.5 million paid to shareholders in the course of the third quarter by a Substantial Issuer Bid (“SIB“), lowering its shares excellent by 14% for the reason that finish of 2024, and the Firm efficiently repurchased over $80 million of its senior unsecured notes due 2028 lowering the steadiness excellent to $314 million, underscoring the Firm’s dedication to return capital to all its stakeholders.

Frontera is happy to announce its qualification for the OTCQX® Finest Market, an necessary milestone that will increase the Firm’s visibility in america and reinforces its dedication to sturdy monetary disclosure and company governance. Buying and selling on OTCQX enhances entry to a broader U.S. investor base, together with the U.S. retail market, providing shareholders improved liquidity and extra environment friendly participation underneath the Firm’s present TSX reporting framework. 

Notably, OTC market exercise has represented over 30% of FEC’s complete share buying and selling over the previous 5 years, highlighting the relevance of the U.S. market to Frontera’s investor group. Entry to this highest tier of the U.S. OTC markets additional strengthens Frontera’s capability to succeed in a broader investor base and improve long-term worth creation. Buying and selling will begin tomorrow, November 14th, underneath the image “FECCF”.”

Orlando Cabrales, Chief Govt Officer (CEO), Frontera, commented:

“Frontera’s third quarter monetary and working outcomes spotlight the decisive steps we’re taking to ship stakeholder worth, keep operational flexibility, drive price efficiencies and keep a powerful steadiness sheet.  

In the course of the quarter, we continued to prioritize operational enhancements, lowering our manufacturing prices quarter-over-quarter by 5%, pushed by the implementation of latest subject manufacturing applied sciences, steady optimization, price discount in O&M contracts and digital course of implementation. We additionally lowered our transportation prices by 1% quarter-over-quarter pushed by optimizing our transportation routes and pipeline agreements, together with the expiry of our long run Ocensa P-135 Take or Pay settlement. These enhancements had been partially offset by rising vitality prices as we processed greater liquids volumes in the course of the quarter. We additionally simplified our company construction in the course of the third quarter, by focused reorganization initiatives that can enhance organizational and operational efficiencies, producing between $10 and 15 million in anticipated financial savings in overhead going ahead.

Manufacturing in the course of the quarter decreased 2%, primarily because of hostile climate circumstances in addition to associated operational and logistical challenges, which have since been resolved. The 2025 wet season stands among the many most extreme in a decade, with properly above historic rainfall averages impacting operations. For the 9 months ending September 30, Frontera averaged 39,240 boe/d of manufacturing, a rise of over 3% in contrast with the identical durations of 2024.

Contemplating these components, we have now adjusted our 2025 annual Colombia manufacturing steering barely to 39,000 – 39,500 boe/d. Now we have additionally tightened our 2025 capital expenditures steering, lowering the upper finish by round $25 million, to mirror the disciplined strategy to capital spending and skill to establish ongoing operational efficiencies. 

Subsequent to the quarter, Frontera spudded the high-impact Guapo-1 properly on the VIM-1 block, focusing on pure fuel and condensate. Drilling is predicted to be accomplished by December 2025. The Guapo-1 properly has the potential to considerably enhance the Firm’s pure fuel reserves, together with to probably present a lot wanted provide to the Colombian market within the quick to medium time period and assist de-risk close by contingent prospects.

On our infrastructure enterprise, we proceed to see sturdy momentum supporting all areas of this enterprise unit. ODL noticed sturdy quarter over quarter volumes and EBITDA development led by a rise in manufacturing related to Ecopetrol’s Caño Sur block. In Puerto Bahía, the port’s working EBITDA was comparatively flat quarter over quarter regardless of a discount in liquids throughput volumes related to a dealer’s exit from the nation. The monetary influence of the lowered liquids throughput volumes was offset completely by a powerful efficiency from our basic cargo operations, which noticed sturdy development in container volumes, that surpassed 3,600 twenty-foot equal models (“TEUs”) in October. On SAARA, water administration volumes proceed to extend and stabilize, reaching a median of roughly 157,000 barrels of water per day processed in the course of the quarter, together with reaching a most throughput of 230,000 barrels per day, and gaining momentum in direction of our objective of 250,000 barrels per day.

The Firm’s standalone and rising Colombian infrastructure enterprise, which incorporates pursuits in ODL and Puerto Bahía, along with its associate GASCO, has reached remaining funding determination (“FID“) on the deliberate liquified petroleum fuel (“LPG“) venture. The preliminary part is being fast-tracked and is predicted to be operational within the first half of 2026, serving to tackle provide constraints in Colombia’s home LPG market. The LPG venture is predicted to generate between $10 and 15 million in yearly venture EBITDA as soon as it reaches its goal capability.”

Third Quarter 2025 Operational and Monetary Abstract:

Govt Modifications and Restructuring

Within the third quarter, as a part of Frontera’s ongoing concentrate on cost-savings, the corporate simplified its company construction, by focused reorganization initiatives which can be designed to enhance organizational and operational efficiencies, leading to $10–$15 million in anticipated financial savings in overhead going ahead.

Efficient September 29, 2025, Mr. Ivan Arevalo, Vice President Operations assumed accountability for Reservoir and Reserves. This adjustment is aligned with the Firm’s imaginative and prescient to reinforce synergies, optimize processes, and ensures a complete strategy to managing all points of our operations. Mr. Arevalo has greater than 30 years of expertise within the oil and fuel business and has been with the Firm for greater than 17 years. 

On September 29, 2025, Mr. Andrés Sarmiento was promoted to Vice-President of Company Sustainability & Folks. Mr. Sarmiento is an Economist with a Grasp’s diploma in Economics from the Universidad de los Andes and a Grasp’s diploma in Power, Mining, and Finance from Imperial School London. Previous to becoming a member of Frontera, Mr. Sarmiento beforehand was secretary basic of the Colombian Affiliation of Pure Gasoline, was a senior funding advisor within the London Workplace of ProColombia and an advisor to a number of ministers and vice ministers within the Colombian Ministry of Mines and Power. 

The Firm congratulates Mr. Arevalo and Mr. Sarmiento on their expanded roles.

With these organizational modifications, Frontera goals to strengthen operational effectivity, align capabilities to deal with future challenges, and set up a extra agile construction whereas constructing a extra sustainable future.

Third Quarter 2025 Operational and Monetary Outcomes:

• The Firm recorded internet revenue, attributable to fairness holders of the Firm, from persevering with operations of $28.2 million ($0.38/share), within the third quarter of 2025, in contrast with a internet loss, attributable to fairness holders of the Firm, from persevering with operations of $410.9 million, internet of a non-cash impairment bills of $431.9 million ($5.32/share) within the prior quarter and internet revenue from persevering with operations of $16.9 million ($0.19/share) within the third quarter of 2024. Web revenue from persevering with operations included a loss from operations of $13.9 million (internet of a non-cash impairment expense of $9.7 million), finance bills of $18.9 million and $4.9 million associated to loss on danger administration contracts, partially offset by an revenue tax restoration of $20.6 million (together with $20.9 million of deferred revenue tax restoration), $15.9 million from share of revenue from associates, different revenue by $12.0 million primarily associated to insurance coverage recoveries for the Sabanero block by $14.7 million, and overseas trade revenue of $2.1 million.
• Complete Colombian manufacturing averaged 38,934 boe/d within the third quarter of 2025, in contrast with 39,778 boe/d within the prior quarter and 38,840 boe/d within the third quarter of 2024. Heavy crude oil manufacturing declined by 2% in the course of the quarter, primarily because of hostile climate circumstances in addition to associated operational and logistical challenges, which have since been resolved. Offset by will increase in typical pure fuel manufacturing pushed by the commercialization of volumes from the VIM-1 block. Moreover, Colombian mild and medium crude oil mixed manufacturing lower by 6%, primarily because of pure declines.

• Working EBITDA from persevering with operations was $86.6 million within the third quarter of 2025, in contrast with $73.5 million within the prior quarter and $96.5 million within the third quarter of 2024. The quarter over quarter enhance was primarily because of greater volumes bought in the course of the quarter, greater Brent oil costs and decrease manufacturing prices and transportation price (internet of realized FX hedge influence), partially offset by greater vitality prices.
• Money supplied by working actions was $115.0 million within the third quarter of 2025, in contrast with $41.8 million within the prior quarter, and $124.1 million within the third quarter of 2024. In the course of the quarter, the Firm invested $50.9 million in capital expenditures, paid $66.5 million to shareholders by its substantial issuer bid, acquired $14.7 million in insurance coverage compensation for the Sabanero block and acquired $18.5 million in money dividends from ODL.
• The Firm reported a complete money place of $172.1 million at September 30, 2025, in contrast with $197.5 million at June 30, 2025, and $240.3 million at September 30, 2024.
• As at September 30, 2025, the Firm had a complete crude oil stock steadiness of 919,914 barrels in comparison with 1,109,347 barrels at June 30, 2025. The Firm had a complete stock steadiness in Colombia of 439,714 barrels, together with 348,544 crude oil barrels and 91,170 barrels of diluent and others. This in comparison with 629,147 barrels as at June 30, 2025, and 777,158 barrels as at September 30, 2024. The lower in stock ranges quarter over quarter was related to greater volumes of oil stock bought in the course of the quarter.
• Capital expenditures had been $50.9 million within the third quarter of 2025, in contrast with $59.0 million within the prior quarter and $74.9 million within the third quarter of 2024. In the course of the third quarter the Firm drilled 16 wells primarily within the Quifa and CPE-6 blocks.
• The Firm’s internet gross sales realized value was $59.72/boe within the third quarter of 2025, in comparison with $58.98/boe within the prior quarter and $66.27/boe within the third quarter of 2024. The quarter over quarter enhance was primarily pushed by the next Brent benchmark oil value, stronger oil value differentials, partially offset by premiums paid on oil value danger administration contracts.
• The Firm’s working netback from persevering with operations was $33.98/boe within the third quarter of 2025, in contrast with $33.53/boe within the prior quarter and $39.54/boe within the third quarter of 2024. The rise within the Firm’s working netback quarter-over-quarter was primarily because of greater internet gross sales realized value, decrease manufacturing prices and transportation price, (internet of realized FX hedge impacts), partially offset by greater vitality prices
• Manufacturing prices (excluding vitality prices), internet of realized FX hedge influence, averaged $8.46/boe within the third quarter of 2025, in contrast with $8.89/boe within the prior quarter and $8.89/boe within the third quarter of 2024. The lower in manufacturing prices was primarily because of new subject manufacturing applied sciences, steady optimization, price discount in O&M contracts and digital course of implementation.
• Power prices, internet of realized FX hedging impacts, averaged $5.56/boe within the third quarter of 2025, in comparison with $4.75/boe within the prior quarter and up from $5.25/boe within the third quarter of 2024. The rise quarter over quarter was primarily because of greater gasoline consumption ensuing from greater processed manufacturing liquid volumes.
• Transportation prices, internet of realized FX hedging impacts averaged $11.72/boe within the third quarter of 2025, in contrast with $11.81/boe within the prior quarter and $12.59/boe within the third quarter of 2024. The lower in transportation prices in the course of the quarter was primarily pushed by the optimization of the transportation routes and pipeline agreements together with the termination of the Ocensa P-135 long-term Take-or-Pay settlement.
• Restructuring prices in the course of the quarter had been $8.3 million, pushed by focused reorganization initiatives, leading to anticipated financial savings of 20% in company overhead going ahead.
• ODL volumes transported had been 241,958 bbl/d in the course of the third quarter of 2025, up barely led by a rise in volumes from Ecopetrol’s Caño Sur block, in contrast with the earlier quarter, which noticed 235,804 bbl/d in volumes transported.
• Complete Puerto Bahia liquids volumes had been 39,560 bbl/d in the course of the quarter in comparison with 53,280 bbl/d the earlier quarter, the discount in liquids volumes was because of a third-party dealer’s exit from the nation. The Firm is actively in search of to switch the misplaced volumes. The monetary influence of the lowered liquids throughput volumes was offset completely by a powerful efficiency from the final cargo operations, which noticed sturdy development in container volumes, that surpassed 3,000 TEUs in September.
• Adjusted Infrastructure EBITDA within the quarter was $30.4 million, in comparison with $27.1 million within the prior quarter. The quarter over quarter enhance was primarily a results of greater revenues from the ODL enterprise because of greater volumes transported by the pipeline.

Frontera’s Sustainability Technique

In the course of the quarter, the Firm continued to make progress in direction of its 2028 sustainability objectives and achieved 81% of its 2025 plan yr to this point.

According to its provide chain sustainability technique, the Firm strengthened its Enterprise Community for Accountable Enterprise Conduct — a collaborative platform that fosters human rights due diligence, shared insurance policies, and finest practices — guaranteeing a constant and accountable strategy throughout suppliers and key subsidiaries, together with Puerto Bahía and ProAgrollanos.

Within the third quarter of 2025, native suppliers accounted for 11.58% of complete purchases, reflecting the Firm’s ongoing dedication to help native financial improvement. Moreover, Frontera maintained sturdy efficiency in well being and security indicators, reporting a Complete Recordable Incident Fee (“TRIR“) of 0.57. The Firm additionally attained a water reuse price of 36% inside its operational actions.

As well as, Frontera achieved the “Stage of Excellence” licensed by Nice Place to Work.

Enhancing Shareholder Returns

The Firm continues to contemplate investor-focused initiatives for the rest of 2025 and past, together with further dividends, distributions, share or bond buybacks, based mostly on the general outcomes of the companies, oil costs and money movement technology. Moreover, the Firm additionally continues to contemplate all choices to reinforce the worth of its frequent shares, and in so doing might think about types of strategic initiatives or transactions, which can embrace an additional return of capital to shareholders, a merger or a enterprise mixture, or the switch, sale or different disposition of all or a good portion of the enterprise, belongings or securities of the Firm, the recapitalization or separation of curiosity in a number of subsidiaries or in belongings of the Firm, whether or not in a single or a collection of transactions. Nonetheless, there will be no assurance that any such initiative or transaction will happen or if it happens, the timing thereof.

NCIB: On July 18, 2025, the Firm initiated a Regular Course Issuer Bid (“NCIB“), by which the Firm might buy as much as 3,502,962 shares for cancellation, representing roughly 5% of the issued and excellent shares as at July 15, 2025.

As at November 12, 2025, the Firm had repurchased roughly 385,200 Frequent Shares for cancellation for about $1.6 million. The NCIB will expire on July 17, 2026.

SIB: On July 15, 2025, the Firm introduced that, it had taken up and paid for 7,583,333 frequent shares (roughly 9.77% of the full variety of Frontera’s issued and excellent frequent shares as at July 10, 2025) at a value of CAD$12.00 per frequent share, representing an mixture buy value of roughly CAD $91.0 million pursuant to a considerable issuer bid. The July 2025 substantial issuer bid had a 92.6% participation and the tendered shares had been bought on a professional rata foundation. Shareholders who tendered to the substantial issuer bid had roughly 10.54% of their tendered shares bought by the Firm. With an over 90% constant participation price in its latest SIBs, the Firm’s capital distribution technique has confirmed efficient and properly acquired by shareholders.

Dividend: Pursuant to Frontera’s dividend coverage, Frontera’s Board of Administrators declared a dividend of C$0.0625 per frequent share to be paid on or round January 19, 2026, to shareholders of file on the shut of enterprise on January 5, 2026.

This dividend cost to shareholders is designated as an “eligible dividend” for functions of the Earnings Tax Act (Canada). This dividend is eligible for the Firm’s Dividend Reinvestment Plan which offers Canadian resident shareholders of Frontera the choice to robotically reinvest the money dividends on their frequent shares into further frequent shares, with out paying brokerage commissions or providers prices.

Frontera’s Three Core Companies

Frontera’s three core companies embrace: (1) its Colombia Upstream Onshore enterprise, (2) its standalone and rising Colombian Infrastructure enterprise, and (3) its probably transformational Guyana Exploration enterprise offshore Guyana.

2025 Steering Replace

Frontera’s common manufacturing was 39,240 boe/d for the nine-month interval ended September 30, 2025. The Firm has adjusted manufacturing steering for 2025 to 39,000 – 39,500 boe/d. The Firm has additionally tightened its 2025 capital expenditures steering to mirror its disciplined strategy to capital spending and skill to establish ongoing operational efficiencies and up to date its EBITDA steering vary to mirror the decrease oil value atmosphere.

The next desk experiences the Firm’s 2025 up to date steering in addition to its precise outcomes for the 9 months ended September 30, 2025:

Colombia Upstream Onshore

Colombia

Frontera produced 38,934 boe/d from its Colombian operations within the third quarter (consisting of 27,078 bbl/d of heavy crude oil, 9,235 bbl/d of sunshine and medium crude oil, 4,406 mcf/d of typical pure fuel and 1,848 boe/d of pure fuel liquids).

The Firm drilled 16 improvement wells primarily on the Quifa and CPE-6 blocks and accomplished properly interventions at 7 others in the course of the quarter.

Presently, the Firm has 1 drilling rig and 1 properly intervention rigs energetic in Colombia.

Quifa Block: Quifa SW and Cajua

At Quifa, manufacturing averaged 17,586 bbl/d of heavy crude oil (together with each Quifa and Cajua) within the third quarter in comparison with 17,576 bbl/d in the course of the earlier quarter. The Firm invested in facility enlargement and the set up of latest movement traces within the Cajua subject, within the Quifa block to help new properly manufacturing and the SAARA connection.

In the course of the quarter, the Firm processed roughly 1.78 million barrels of water per day in Quifa together with SAARA.

CPE-6

At CPE-6, manufacturing averaged roughly 7,710 bbl/d of heavy crude oil in the course of the third quarter, in comparison with 7,771 bbl/d in the course of the second quarter of 2025.

In the course of the quarter, the Firm invested within the enlargement of crude oil storage capability and the implementation of latest subject manufacturing applied sciences.

The Firm processed roughly 357 thousand barrels of water per day in CPE-6 within the third quarter of 2025. The Firm’s present water dealing with capability in CPE-6 is roughly 380 thousand barrels of water per day.

Different Colombia Developments

At Guatiquia, manufacturing in the course of the quarter averaged 5,145 bbl/d of sunshine and medium crude in contrast with 5,385bbl/d within the second quarter of 2025.

Within the Cubiro block manufacturing averaged 981 bbl/d of sunshine and medium crude oil throughout quarter in contrast with 1,057 bbl/d within the second quarter of 2025.

At VIM-1 (Frontera 50% W.I., non-operator), manufacturing averaged 2,187 boe/d of sunshine and medium crude oil in the course of the third quarter in comparison with 1,960 boe/d of sunshine and medium crude oil within the second quarter of 2025.

On the Sabanero block, manufacturing averaged 1,781 boe/d of heavy oil crude manufacturing in the course of the third quarter in comparison with 2,189 boe/d within the second quarter of 2025.

Colombia Exploration Belongings

The Firm’s exploration focus in the course of the third quarter remained on the Decrease Magdalena Valley and Llanos Basins in Colombia.

On the VIM-1 block, actions associated to the Guapo-1 exploration properly are ongoing. Civil works have been accomplished, and the properly was spudded in October 16, 2025. On the Llanos-119 block, the Colombian Nationwide Hydrocarbon Company (“ANH“) accredited the request to switch commitments to VIM-46 block to amass a 3D seismic survey. As well as, the Firm is engaged in pre-seismic and pre-drilling actions associated to social and environmental research within the Llanos-99 and VIM-46 blocks.

2. Infrastructure Colombia

Frontera’s Infrastructure Colombia Phase contains the Firm’s 35% fairness curiosity within the ODL pipeline by Frontera’s wholly owned subsidiary, FPI and the Firm’s 99.97% curiosity in Puerto Bahia. Starting in 2024, the Infrastructure Colombia Phase additionally contains the Firm’s reverse osmosis water remedy facility (SAARA) and its palm oil plantation (ProAgrollanos).

Frontera’s and its associate GASCO, introduced that the companions had reached a remaining funding determination on its deliberate LPG venture. The preliminary part of the venture is being fast-tracked and anticipated to be operational within the first half of 2026. supporting the challenges in Colombia’s home LPG market. The LPG venture will generate between $10 and 15 million in yearly venture EBITDA as soon as it reaches its goal capability. The Firm continues to pursue strategic funding alternatives to maximise the port’s infrastructure and drive long-term worth creation.

The Reficar connection’s development was accomplished, and the Port’s efforts have shifted to working along with Ecopetrol to start out using the connection and establishing Puerto Bahia as a strategic associate for the Reficar Refinery.

Infrastructure Colombia Phase Outcomes

Adjusted Infrastructure EBITDA within the third quarter of 2025 was $30.4 million, in contrast with $27.1 million in the course of the second quarter of 2025. ODL noticed sturdy quarter over quarter quantity enhance and EBITDA, led by a rise in manufacturing related to Ecopetrol’s Caño Sur block.

Puerto Bahía’s working EBITDA was comparatively flat quarter over quarter regardless of a discount in liquids related to a third-part dealer’s exit from the nation. The monetary influence of the lowered liquids throughput volumes was offset completely by a powerful efficiency from basic cargo operations, which noticed sturdy development in container volumes, that surpassed 3,000 TEUs in September.

On the SAARA aspect, the Firm continued to extend water administration volumes reaching a median of 156,767 barrels of water per day for the quarter. The Firm achieved most throughput capability of 230,000 barrels of water per day, gaining momentum in direction of its objective of 250,000 barrels per day.

Phase capital expenditures for the three months ended September 30, 2025, totaled $4.8 million primarily pushed by Puerto Bahia investments of $3.9 million, together with: (i) $4.6 million in direction of the connection venture between Puerto Bahia’s port facility and the Cartagena refinery, (ii) tank upkeep, and (iii) basic cargo terminal services. The third quarter additionally contains funding within the SAARA venture and palm oil plantation.

The next desk exhibits the volumes pumped per injection level in ODL:

The next desk exhibits throughput for the liquids port facility at Puerto Bahia:

The next desk exhibits the barrels of water per day handled and irrigated in SAARA and subject efficiency indicators for Proagrollanos:

3. Guyana – Arbitration Replace

On March 26, 2025, the Firm and its subsidiaries, Frontera Petroleum Worldwide Holding B.V. and Frontera Power Guyana Holding Ltd. (the “Traders”), delivered a Discover of Intent to the Authorities of Guyana (the “GoG“). On this Discover, the Traders alleged breaches of the UK–Guyana Bilateral Funding Treaty and the Guyana Funding Act by the GoG. This communication triggered a 90-day session and negotiation interval supposed to resolve the dispute amicably. The events have been unable to succeed in a mutual decision to this point.

On November 4, 2025, the GoG, by its counsel, communicated its willingness to take part in a remaining “With out Prejudice” assembly with the Joint Enterprise to debate the issues in dispute. The Authorities proposed November 25 or December 2, 2025, as potential dates for this assembly. The Joint Enterprise stays open to participating in good religion discussions with the Authorities.

The Joint Enterprise continues to firmly keep that its pursuits in, and the license for, the Corentyne block stay legitimate and in good standing and that the Petroleum Settlement for such block has not been terminated. Whereas the Authorities of Guyana reaffirmed its place that the Joint Enterprise’s curiosity expired on June 28, 2024, the Joint Enterprise strongly disagrees and stays dedicated to asserting its authorized rights underneath relevant treaties and agreements.

As beforehand disclosed, the Firm evaluated the recoverability of the Corentyne E&E asset in mild of the GoG’s conduct and unwillingness to acknowledge the Joint Enterprise’s rights in the course of the session interval. This resulted in an impairment of $432.2 million, lowering the carrying worth of the Corentyne E&E asset to $Nil as of June 30, 2025 (December 31, 2024: $431.9 million).

The Joint Enterprise collectively holds 100% working curiosity within the Corentyne block, situated offshore Guyana. Frontera Guyana and CGX Sources have agreed that their respective taking part pursuits are 72.52% and 27.48%, which features a 4.52% curiosity that CGX Sources agreed to assign to Frontera Guyana in 2023. This task stays topic to the approval of the Authorities of Guyana however is enforceable between Frontera Guyana and CGX Sources.

Hedging Replace

As a part of its danger administration technique, Frontera makes use of spinoff commodity devices to handle publicity to cost volatility by hedging a portion of its oil manufacturing. The Firm’s technique goals to guard 40-60% of its estimated internet after royalties’ manufacturing utilizing a mix of devices, capped and non-capped, to guard the income technology and money place of the Firm, whereas maximizing the upside, thereby permitting the Firm to take a extra dynamic strategy to the administration of its hedging portfolio.

The next desk summarizes Frontera’s hedging place as of November 13, 2025.

The Firm is uncovered to overseas foreign money fluctuations primarily arising from expenditures which can be incurred in COP and its fluctuation towards the USD. As of November 13, 2025 the Firm had the next overseas foreign money derivatives contracts:

Third Quarter 2025 Monetary Outcomes Convention Name Particulars

A convention name for traders and analysts can be held on Friday, November 14th, 2025, at 11:00 a.m. Japanese Time. Individuals will embrace Gabriel de Alba, Chairman of the Board of Administrators, Orlando Cabrales, Chief Govt Officer, Rene Burgos, Chief Monetary Officer, and different members of the senior administration staff.

Analysts and traders are invited to take part utilizing the next dial-in numbers:

A replay of the convention name can be obtainable till 11:59 p.m. Japanese Time on November twenty first, 2025.

About Frontera:

Frontera Power Company is a Canadian public firm concerned within the exploration, improvement, manufacturing, transportation, storage and sale of oil and pure fuel in South America, together with associated investments in each upstream and midstream services. The Firm has a diversified portfolio of belongings with pursuits in 22 exploration and manufacturing blocks in Colombia, Ecuador and Guyana, and pipeline and port services in Colombia. Frontera is dedicated to conducting enterprise safely and in a socially, environmentally and ethically accountable method.

If you need to obtain Information Releases by way of e-mail as quickly as they’re revealed, please subscribe right here: http://fronteraenergy.mediaroom.com/subscribe. 

Social Media

Observe Frontera Power social media channels on the following hyperlinks:

Twitter: https://twitter.com/fronteraenergy?lang=en
Fb: https://es-la.fb.com/FronteraEnergy/
LinkedIn: https://co.linkedin.com/firm/frontera-energy-corp. 

Advisories:

Cautionary Observe Regarding Ahead-Wanting Statements

This information launch accommodates forward-looking statements. All statements, apart from statements of historic reality, that tackle actions, occasions or developments that the Firm believes, expects or anticipates will or might happen sooner or later together with, with out limitation, statements relating to the Firm’s objective of enhancing shareholder worth by returning capital to shareholders, amongst different initiatives, the anticipated completion date of the LPG Mission and its influence on Colombia’s home LPG market, the Firm’s intent to contemplate future shareholder initiatives together with a possible future separation of curiosity in a number of subsidiaries or in belongings of the Firm, whether or not in on or a collection of transactions, the anticipated influence of the Firm’s qualification for the OTCQX® Finest Market marks and the graduation of buying and selling thereunder, the anticipated manufacturing for November and the remainder of 2025, the anticipated advantages of the reorganization to simplify company construction, the Firm’s consideration of investor centered initiatives,  the potential end result of the dispute with the GoG over the Corentyne block, the Firm’s exploration and improvement plans and goals, manufacturing ranges, profitability, prices, future revenue technology capability, money ranges (together with the timing and skill to launch restricted money), regulatory approval, and the Firm’s hedging program and its capability to mitigate the influence of modifications in oil costs are forward-looking statements.

These forward-looking statements mirror the present expectations or beliefs of the Firm based mostly on data at the moment obtainable to the Firm. Ahead-looking statements are topic to quite a few dangers and uncertainties which will trigger the precise outcomes of the Firm to vary materially from these mentioned within the forward-looking statements, and even when such precise outcomes are realized or considerably realized, there will be no assurance that they’ll have the anticipated penalties to, or results on, the Firm. Components that would trigger precise outcomes or occasions to vary materially from present expectations embrace, amongst different issues: volatility in market costs for oil and pure fuel; the U.S. commerce tariffs and sanctions imposed on quite a few international locations; the influence of worldwide conflicts together with the Russia–Ukraine battle and the battle within the Center East and different escalating geopolitical tensions; actions of the Group of Petroleum Exporting International locations; uncertainties related to estimating and establishing oil and pure fuel reserves and assets; liabilities inherent with the exploration, improvement, exploitation and reclamation of oil and pure fuel; uncertainty of estimates of capital and working prices, manufacturing estimates and estimated financial return; will increase or modifications to transportation prices; expectations relating to the Firm’s capability to boost capital and to repeatedly add reserves by acquisition and improvement; the Firm’s capability to finish strategic initiatives or transactions to reinforce the worth of its frequent shares and the timing thereof; the Firm’s capability to entry further financing; the power of the Firm to take care of its credit score scores; the power of the Firm to: meet its monetary obligations and minimal commitments, fund capital expenditures and adjust to covenants contained within the agreements that govern indebtedness; the intentions of the Firm with regard to its capital allocation choices; political developments within the international locations the place the Firm operates; the uncertainties concerned in deciphering drilling outcomes and different geological information; geological, technical, drilling and processing issues; timing on receipt of presidency approvals; fluctuations in overseas trade or rates of interest and inventory market volatility, the power of the Joint Enterprise to succeed in an settlement with the GoG in respect of the Joint Enterprise’s curiosity within the agreements referring to the Corentyne block, and the opposite dangers disclosed underneath the heading “Danger Components” and elsewhere within the Firm’s annual data kind dated March 10, 2025 filed on SEDAR+ at www.sedarplus.ca. 

Any forward-looking assertion speaks solely as of the date on which it’s made and, besides as could also be required by relevant securities legal guidelines, the Firm disclaims any intent or obligation to replace any forward-looking assertion, whether or not because of new data, future occasions or outcomes or in any other case. Though the Firm believes that the assumptions inherent within the forward-looking statements are cheap, forward-looking statements will not be ensures of future efficiency and accordingly undue reliance shouldn’t be placed on such statements because of the inherent uncertainty therein.

This information launch accommodates future oriented monetary data and monetary outlook data (collectively, “FOFI”) (together with, with out limitation, statements relating to anticipated common manufacturing), and are topic to the identical assumptions, danger components, limitations and {qualifications} as set forth within the above paragraph. The FOFI has been ready by administration to offer an outlook of the Firm’s actions and outcomes, and such data will not be applicable for different functions. The Firm and administration consider that the FOFI has been ready on an affordable foundation, reflecting administration’s cheap estimates and judgments, nevertheless, precise outcomes of operations of the Firm and the ensuing monetary outcomes might range from the quantities set forth herein. Any FOFI speaks solely as of the date on which it’s made, and the Firm disclaims any intent or obligation to replace any FOFI, whether or not because of new data, future occasions or outcomes or in any other case, except required by relevant legal guidelines.

Non-IFRS Monetary Measures

This press launch accommodates numerous “non-IFRS monetary measures” (equal to “non-GAAP monetary measures“, as such time period is outlined in NI 52-112), “non-IFRS ratios” (equal to “non-GAAP ratios“, as such time period is outlined in NI 52-112), “supplementary monetary measures” (as such time period is outlined in NI 52-112) and “capital administration measures” (as such time period is outlined in NI 52-112), that are described in additional element under. Such measures don’t have standardized IFRS definitions. The Firm’s dedication of those non-IFRS monetary measures might differ from different reporting issuers and they’re subsequently unlikely to be akin to related measures offered by different firms. Moreover, these monetary measures shouldn’t be thought of in isolation or as an alternative to measures of efficiency or money flows as ready in accordance with IFRS. These monetary measures don’t change or supersede any standardized measure underneath IFRS. Different firms in our business might calculate these measures otherwise than we do, limiting their usefulness as comparative measures.

The Firm discloses these monetary measures, along with measures ready in accordance with IFRS, as a result of administration believes they supply helpful data to traders and shareholders, as administration makes use of them to judge the working efficiency of the Firm. These monetary measures spotlight developments within the Firm’s core enterprise that won’t in any other case be obvious when relying solely on IFRS monetary measures. Additional, administration additionally makes use of non-IFRS measures to exclude the influence of sure bills and revenue that administration doesn’t consider mirror the Firm’s underlying working efficiency. The Firm’s administration additionally makes use of non-IFRS measures to be able to facilitate working efficiency comparisons from interval to interval and to organize annual working budgets and as a measure of the Firm’s capability to finance its ongoing operations and obligations.

Set forth under is an outline of the non-IFRS monetary measures, non-IFRS ratios, supplementary monetary measures and capital administration measures used within the MD&A.

Working EBITDA from Persevering with Operations *

EBITDA is a generally used non-IFRS monetary measure that adjusts internet revenue (loss) as reported underneath IFRS to exclude the consequences of revenue taxes, finance revenue and bills, and DD&A. Working EBITDA from persevering with operations is a non-IFRS monetary measure that represents the working outcomes of the Firm’s main enterprise, excluding the next gadgets: restructuring, severance and different prices, post-termination obligation, trunkline prices, temporal taxes, funds of minimal work commitments and, sure non-cash gadgets (akin to impairments, overseas trade, unrealized danger administration contracts, share-based compensation and debt extinguishment price) and beneficial properties or losses arising from the disposal of capital belongings. As well as, different uncommon or non-recurring gadgets are excluded from working EBITDA from persevering with operations, as they aren’t indicative of the underlying core working efficiency of the Firm.

The next desk offers a reconciliation of internet revenue (loss) to Working EBITDA from persevering with operations:

Capital Expenditures

Capital expenditures is a non-IFRS monetary measure that displays the money and non-cash gadgets utilized by the Firm to spend money on capital belongings. This monetary measure considers oil and fuel properties, plant and tools, infrastructure, exploration and analysis belongings expenditures that are gadgets reconciled to the Firm’s Statements of Money Flows for the interval.

Infrastructure Colombia Calculations

Every of Adjusted Infrastructure Income, Adjusted Infrastructure Working Prices and Adjusted Infrastructure Normal and Administrative, is a non-IFRS monetary measure, and every is used to judge the efficiency of the Infrastructure Colombia Phase operations. Adjusted Infrastructure Income contains revenues of the Infrastructure Colombia Phase together with ODL’s income direct participation curiosity. Adjusted Infrastructure Working Prices contains prices of the Infrastructure Colombia Phase together with ODL’s price direct participation curiosity. Adjusted Infrastructure Normal and Administrative contains basic and administrative prices of the Infrastructure Colombia Phase together with ODL’s basic and administrative direct participation curiosity.

A reconciliation of every of Adjusted Infrastructure Income, Adjusted Infrastructure Working Prices and Adjusted Infrastructure Normal and Administrative is supplied under.

Adjusted Infrastructure EBITDA

The Adjusted Infrastructure EBITDA is a non-IFRS monetary measure used to help in measuring the working outcomes of the Infrastructure Colombia Phase enterprise.

Web Gross sales

Web gross sales is a non-IFRS monetary measure that adjusts income to incorporate realized beneficial properties and losses from oil danger administration contracts whereas eradicating the price of any volumes bought from third events. This can be a helpful indicator for administration, because the Firm hedges a portion of its oil manufacturing utilizing spinoff devices to handle publicity to grease value volatility. This metric permits the Firm to report its realized internet gross sales after factoring in these oil danger administration actions. The deduction of price of purchases is useful to grasp the Firm’s gross sales efficiency based mostly on the web realized proceeds from its personal manufacturing, the price of which is partially recovered when the blended product is bought. Web gross sales additionally exclude gross sales from port providers, as it isn’t thought of a part of the oil and fuel phase. Consult with the reconciliation within the “Gross sales” part on web page 10 of the MD&A.

Working Netback and Oil and Gasoline Gross sales, Web of Purchases

Working netback is a non-IFRS monetary measure and working netback per boe is a non-IFRS ratio. Working netback per boe is used to evaluate the web margin of the Firm’s manufacturing after subtracting all prices related to bringing one barrel of oil to the market. It is usually generally utilized by the oil and fuel business to research monetary and working efficiency expressed as revenue per barrel and is an indicator of how environment friendly the Firm is at extracting and promoting its product. For netback functions, the Firm removes the consequences of any buying and selling actions and outcomes from its Infrastructure Colombia Phase from the per barrel metrics and provides the consequences attributable to transportation and working prices of any realized acquire or loss on overseas trade danger administration contracts. Consult with the reconciliation within the “Working Netback” part on web page 9 of the MD&A.

The next is an outline of every part of the Firm’s working netback and the way it’s calculated. Oil and fuel gross sales, internet of purchases, is a non-IFRS monetary measure that’s calculated utilizing oil and fuel gross sales much less the price of volumes bought from third events together with its transportation and refining prices. Oil and fuel gross sales, internet of purchases per boe, is a non-IFRS ratio that’s calculated utilizing oil and fuel gross sales, internet of purchases, divided by the full gross sales volumes, internet of purchases. A reconciliation of this calculation is supplied under:

Non-IFRS Ratios

Realized oil value, internet of purchases, and realized fuel value per boe

Realized oil value, internet of purchases, and realized fuel value per boe are each non-IFRS ratios. Realized oil value, internet of purchases, per boe is calculated utilizing oil gross sales internet of purchases, divided by complete gross sales volumes, internet of purchases. Realized fuel value is calculated utilizing gross sales from fuel manufacturing divided by the traditional pure fuel gross sales volumes.

Web gross sales realized value

Web gross sales realized value is a non-IFRS ratio that’s calculated utilizing internet gross sales (together with oil and fuel gross sales internet of purchases, realized beneficial properties and losses from oil danger administration contracts and fewer royalties). Web gross sales realized value per boe is a non-IFRS ratio which is calculated dividing every part by complete gross sales volumes, internet of purchases. A reconciliation of this calculation is supplied under:

Buy crude internet margin

Buy crude internet margin is a non-IFRS monetary measure that’s calculated utilizing the bought crude oil and merchandise gross sales, much less the price of these volumes bought from third events together with its transportation and refining prices. Buy crude internet margin per boe is a non-IFRS ratio that’s calculated utilizing the Buy crude internet margin, divided by the full gross sales volumes, internet of purchases. A reconciliation of this calculation is supplied under:

Manufacturing prices (excluding vitality price), internet of realized FX hedge influence, and manufacturing price (excluding vitality price), internet of realized FX hedge influence per boe

Manufacturing prices (excluding vitality price), internet of realized FX hedge influence is a non-IFRS monetary measure that primarily contains lifting prices, actions developed within the blocks, processes to place the crude oil and fuel in gross sales situation and the realized acquire or loss on overseas trade danger administration contracts attributable to manufacturing prices. Manufacturing price, internet of realized FX hedge influence per boe is a non-IFRS ratio that’s calculated utilizing manufacturing price (excluding vitality price), internet of realized FX hedge influence divided by manufacturing (earlier than royalties). A reconciliation of this calculation is supplied under:

Power prices, internet of realized FX hedge influence, and manufacturing price, internet of realized FX hedge influence per boe

Power prices, internet of realized FX hedge influence is a non-IFRS monetary measure that describes the electrical energy consumption and the prices of localized vitality technology and the realized acquire or loss on overseas trade danger administration contracts attributable to vitality prices. Power price, internet of realized FX hedge influence per boe is a non-IFRS ratio that’s calculated utilizing vitality price, internet of realized FX hedge influence divided by manufacturing (earlier than royalties). A reconciliation of this calculation is supplied under:

Transportation prices, internet of realized FX hedge influence, and transportation prices, internet of realized FX hedge influence per boe

Transportation prices, internet of realized FX hedge influence is a non-IFRS monetary measure, that features all industrial and logistics prices related to the sale of produced crude oil and fuel akin to trucking and pipeline, and the realized acquire or loss on overseas trade danger administration contracts attributable to transportation prices. Transportation price, internet of realized FX hedge influence per boe is a non-IFRS ratio that’s calculated utilizing transportation price, internet of realized FX hedge influence divided by internet manufacturing after royalties. A reconciliation of this calculation is supplied under:

Supplementary Monetary Measures

Royalties per boe

Royalties contains royalties and quantities paid to earlier house owners of sure blocks in Colombia and money funds for PAP. Royalties per boe is a supplementary monetary measure that’s calculated utilizing the royalties divided by complete gross sales volumes, internet of purchases.

Capital Administration Measures

Restricted money short- and long-term

Restricted money (short- and long-term) is a capital administration measure, that sums the short-term portion and long-term portion of the money that the Firm has in time period deposits which were escrowed to cowl future commitments and future abandonment obligations, or insurance coverage collateral for sure contingencies and different issues that aren’t obtainable for quick disbursement.

Complete money

Complete money is a capital administration measure to explain the full money and money equivalents restricted and unrestricted obtainable, is comprised by the money and money equivalents and the restricted money quick and long-term.

Complete debt and lease liabilities

Complete debt and lease liabilities are capital administration measures to explain the full monetary liabilities of the Firm and is comprised of the debt of the 2028 Unsecured Notes, loans, and liabilities from leases of assorted properties, energy technology provide, automobiles and different belongings.

Definitions:

SOURCE Frontera Power Company