PetroReconcavo

Corporate Profile

PetroReconcavo is an independent oil and gas operator in Brazil, specializing in the revitalization of onshore mature fields. The Company was one of the first private players to enter the sector following market liberalization through the Brazilian Petroleum Law of 1997, and was a pioneer in acquiring assets from Petrobras.

The Company adopts a vertical integration strategy, with its own fleet of rigs and internalized services, ensuring operational efficiency, safety, and autonomy. Its financial discipline, low leverage, and strong cash flow generation provide resilience against market volatility.

Operated concessions

Potiguar Asset

31 concessions, 29 operated
3 exploratory blocks

Bahia Asset

26 operated concessions
3 exploratory blocks

25 Years

of operations

57

Concessions

27.3 Kboed

1H25 average production

Key Metrics

Financial indicators (R$ Million)	1H25	2024
Net Revenue	1,667	3.265
EBITDA	798	1,643
EBITDA Margin	47.8%	47.8%
Net Income	466	437
Lifting Cost (US$/boe)	13.90	13.60
Free Cash Flow Gneeration¹	107	1,034

Balance Sheet (R$ Million)	1H25	2024
Total Assets	7,455	7,438
Total liabilities	2,991	3,202
Total net equity	4,464	4,235

Debt	1H25	2024
Net Debt	1,281	1,317
Lavarage	0.78 x	0.80 x
Average Cost of Debit	6.74% p.a.	6.74% p.a.
Average Debt Maturity	3.7 years	4.2 years

1. Cash flow from operations net of additions to property, plant and equipment and intangible assets.

2024 Reserves Certification

Certification by Netherland, Sewell & Associates, Inc. (NSAI) - PRMS Standard

Multiples	2024
2P Reserves (MMBOE)	183.8
1P Reserves (MMBOE)	145.8
Reserve Replacement Ratio (RRR)¹	1.7 x
Future Reserve Development Cost²	US$ 7.6/boe
PV10³	US$ 2.7 B
1P/2P Reserve Ratio&sup4;	79%
PDP/2P Reserve Ratio	34%
Gas Reserves / Total Reserves&sup4;	43%

1 - 2P reserves added during the period (boe) divided by accumulated production in the same period (boe); 2- Total investment (USD) divided by incremental reserves (2P minus PDP reserves, boe) according to the reserves report, we apply the national gas conversion factor of 5.615 MCF per 1 BOE; 3- Future net result discounted to present value using a 10% discount rate; 4- 1P reserves divided by 2P reserves, based on gross working interest; 5) 2P gas reserves (boe, using a conversion factor of 6,000 cubic feet per 1 barrel of oil equivalent) divided by total 2P reserves (oil + gas, in boe).

Ratings

Agency	Rating Type	Rating	Rating Date	Perspective
Moody's Local Brazil	Corporate	AA.br	10/11/2024	Stable
Moody's Local Brazil	2nd Issuance	AA.br	10/11/2024	-
Moody's Local Brazil	1st Issuance	AA.br	11/05/2024	-
Moody's Local Brazil	3rd Issuance	AA.br	06/25/2025	-

Share performance

	1H25	Rating
EV/EBITDA	3.35	3.70
L/A (R$)	1.59	1.49
P/L	9.03	10.87
Market cap* (Million)	4,205	4,757

*Reference share price: 2Q25: R$ 14.33 as of June 30, 2025, and 2024: R$ 16.21 as of December 30, 2024.

Average Trading Volume YTD

Fact Sheet