Parex Resources Ends Discussions with GeoPark Over Potential Business Combination

Parex Resources has halted discussions with GeoPark regarding a potential business combination after reviewing information provided by GeoPark since November 14, 2025, and virtual and in-person discussions with GeoPark management. Parex determined that there is no basis to increase its view on the value of GeoPark common shares relative to the proposal to acquire all GeoPark shares for $9.00 per share in cash. The discussions were halted due to a gap in perceived value, with Parex concluding that further discussions were unlikely to lead to an agreement.