Frontera Energy Corporation

Good morning. My name is Sergio, and I'll be your conference facilitator today. Welcome to Frontera Energy's third quarter 2025 operating and financial results conference call. All lines are currently on mute to prevent any background noise. I would like to remind you that this conference call is being recorded today and is also available through an audio webcast on the company's website. Following the speaker's remarks, there will be time for questions. Analysts and investors are reminded that any additional questions can be directed to Frontera following today's call at ir.fronterraenergy.ca. This call contains forward-looking statements, information within the meaning of applicable Canadian security laws, relating to activities, events, or developments the company believes or expects will or may occur in the future. Forward-looking information reflects the current expectations, assumptions, and beliefs of the company based on information currently available to it. Although the company believes the assumptions are reasonable, forward-looking information is not a guarantee of future performance. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the company to differ materially from those discussed in the forward-looking information. The company's MD&A for the quarter ended September 30, 2025, and the company's Annual information from dated March 10, 2025, and other documents it files from time to time with securities regulatory authorities describe the risk, uncertainties, material assumptions, and other factors that could influence actual results. Any forward-looking information speaks only as of the date on which it is made, and the company disclaims any intent or obligation to update any forward-looking information, except as required by law. I will now turn the call over to Mr. Gabriel de Alba, chairman of the board of Frontera Energy. Mr. de Alba.

Thank you, Sergio, and good morning, everyone. Welcome to Frontera's third quarter 2025 operating and financial results conference call. Joining me on the call are Orlando Cabrales, Frontera's CEO, and Rene Burgos, Frontera's CFO. Also available to answer questions at the end of the call We have Alejandra Bonilla, General Counsel, Renata Campanaro, VP Marketing, Logistics, and Business Sustainability, Iván Arevalo, VP Reservoir, Reserves, and Operations, and Andrés Armiento, VP of Corporate Sustainability and People. Thank you for joining us. During the quarter, the company generated $86.6 million in operating EBITDA from continuing operations. generated adjusted infrastructure EBITDA of $30.4 million and $115 million in cash provided by operating activities, extended its crude oil hedges through the first half of 2026, and ended the quarter with a strong balance sheet, including $172.1 million of total cash. The company also declared quarterly dividends of Canadian 0.0625 cents per share, or approximately 3.1 million in aggregate, and has bought 385,200 shares through its non-course issue bid program year-to-date. Over the past 12 months, Frontera has distributed more than 112 million to shareholders through dividends and share repurchases, including 66.5 million paid to shareholders in the third quarter via substantial issuer bid, reducing its shares outstanding by 14% since the end of 2024. Additionally, the company successfully repurchased over $80 million of its senior unsecured notes due to 2028, reducing the balance outstanding to $314 million, demonstrating a strong commitment to returning capital to all stakeholders. In addition, Frontera is pleased to announce it has been approved to trade on the OTCQX best market that increases the company's visibility in the United States and reinforces Frontera's commitment to strong financial disclosure and corporate governance practices. Trading in the OTCQX enhances the company's access to a broader U.S. investor base, including the U.S. retail market, offering shareholders improved liquidity and supporting long-term value creation. Trading began today under the ticker symbol FECTF. Notably, OTC market activity has represented over 30% of FEC's total share trading over the past five years, highlighting the relevance of the U.S. market to Frontera's investor community. Access to this highest tier of the U.S. OTC market further strengthens Frontera's ability to reach a broader investor base and enhance long-term value creation. In regards to Guyana, the government of Guyana, through its council, communicated its willingness to participate in a final, without prejudice, meeting with Frontera and its partner, CJX Energy, to discuss the matters in dispute. The government proposed November 25, or December 2, 2026, as possible dates for this meeting. While expressly reserving all rights, the joint venture remains open to engaging in good faith discussions with the government. I'd like now to turn the call over to Orlando Caballeros, Frontera's CEO, and René Burgos, Frontera's CFO, who will share their views on our third quarter results. Orlando?

Thank you, Gabriel. Good morning, everyone, and thank you for joining us for today's call.