GeoPark Limited announced that it has signed an Asset Purchase Agreement with Phoenix Global Resources, a subsidiary of Mercuria Energy Trading, for the acquisition of non-operated working interest (WI) in four adjacent unconventional blocks in the Neuquen Basin in Argentina as follows: a 45% WI in each of the Mata Mora Norte producing block and Mata Mora Sur exploration block, located in Neuqu n Province, and a 50% WI in each of the Confluencia Norte and Confluencia Sur exploration blocks, located in Rio Negro Province. Key HIGHL Highlights: The Vaca Muerta shale formation is the best onshore hydrocarbons play in Latin America today. Value Accretive from Day One: The Mata Mora Norte Block is expected to generate net Adjusted EBITDA of $90-100 million6 in full year 2024 with a 68% Adjusted EBITDA margin (at $80-90/bbl Brent oil price); At expected plateau production of 40,000 gross boepd in 2028-2030, the assets are expected to contribute $290-295 million of EBITDA to GeoPark (at $70/bbl Brent oil price).

Net NPV10 of 1P Reserves is $364 million and net NPV10 of 2P reserves is $823 million. Significant, Low-Risk Exploration Upside: The Mata Mora Sur, Confluencia Norte andConfluencia Sur blocks are currently in the exploration phase and represent significant potential production and reserves upside. The three exploration blocks have 79,000 gross acres and 241 mmboe of gross 3C certified Contingent resources (118 mmboe net to GeoPark).

Exploration acreage is estimated to add 200 gross drilling locations. Production from the exploration assets could reach 15,000 - 20,000 gross boepd by 2028 on a P50 basis, subject to exploration success. First exploratory well on the Confluencia Norte Block is underway.

Proven Partner & Operator: PR is an independent exploration and production (E&P) company focused on unconventional operations in Argentina. The reserve estimates provided in this release are estimates only, and there is no guarantee that the estimated reserves will be recovered. Rounding amounts and percentages: Certain amounts and percentages included in this press release have been rounded for ease of presentation.

Percentage figures included in this press release have not in all cases been calculated on the basis of such rounded figures, but on the basis of such amounts prior to rounding. For this reason, certain percentage amounts in this press release may vary from those obtained by performing the same calculations using the figures in the financial statements. In addition, certain other amounts that appear in this press release may not sum due to rounding.

Oil and gas production figures included in this release are stated before the effect of royalties paid in kind, consumption and losses.