Maurel & Prom: Activity for the First Nine Months of 2026

PARIS, October 22, 2026--Regulatory News:

Maurel & Prom (Paris:MAU):

• M&P working interest production for the first nine months of 2026: 39,126 boepd, up 4% compared with 2025, with an acceleration in Q3 (+8% versus Q2)

  • M&P working interest production of 13,710 bopd in Gabon

  • M&P working interest production of 3,973 bopd in Angola

  • M&P working interest gas production of 67.0 mmcfd in Tanzania

  • M&P working interest gas production of 10.3 mmcfd in Colombia

  • M&P Iberoamerica working interest oil production of 8,558 bopd in Venezuela

• Strong increase in valued production to $521 million (+32%) and consolidated sales to $574 million (+17%)

  • Average oil sale price of $98.8/bbl, up 40% compared with 2025

  • Contributions of $8 million from service activities and $57 million from trading of third-party oil, partly offset by a negative $11 million impact from lifting imbalances and inventory revaluation

• Promising gas discovery at the Kasa-1X well in Tanzania

  • Confirmation of a gas reservoir with encouraging characteristics

  • Current production from Mnazi Bay of approximately 130 mmcfd (78 mmcfd working interest), supported by gas demand and the bringing on stream of the two new wells MB-5 and MS-2

• Continued operational developments in Angola and exports from Venezuela

  • Significant discovery at the Pacassa South West well in Angola

  • Continued crude oil sales in Venezuela, with three liftings during Q3

• Significant progress towards completion of the acquisition of Gran Tierra's assets in Colombia and Ecuador

  • Required consent obtained on 22 September from holders of the 2031 notes

  • Transaction approved on 9 October by Gran Tierra shareholders

  • Regulatory approval processes ongoing, with completion of the transaction still expected by year-end

• Strengthened financial structure following a $465 million refinancing, bringing available bank liquidity to $505 million

  • Positive net cash position of $40 million at 30 September 2026, after payment of $89 million in dividends and the $50 million deposit relating to the Gran Tierra acquisition during Q3

  • Refinancing completed in early October, extending bank debt maturity to October 2031, with a one-year grace period and attractive financing terms

  • Available bank liquidity of $505 million, excluding the undrawn $100 million in shareholder loan

Key indicators for the first nine months of 2026