Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce today that the Company has satisfied all outstanding conditions precedent to the effectiveness of the contract previously announced on March 17, 2026 with Ecopetrol S.A., by which the Company will earn a 49 percent working interest in the Tisquirama block located in the Middle Magdalena Valley Basin of Colombia (the "Block"), which contains the Tisquirama and San Roque fields (the "Fields") (the "Tisquirama Contract"). Production is expressed in barrels of oil equivalent ("boe") per day ("boepd"). All dollar amounts are in United States ("U.S.") dollars unless otherwise indicated.

The Tisquirama Contract provides Gran Tierra with the opportunity to apply its proven waterflood expertise and operational model to assets with significant original oil in place ("OOIP") that have historically seen limited secondary recovery and relatively low recovery factors. The Fields are adjacent to Gran Tierra's operated Acordionero field and share similar geological characteristics, creating the potential for operational synergies and integrated field development.

Under the terms of the Tisquirama Contract, Gran Tierra is expected to focus initial Phase 1 capital activity on waterflood expansion from the Company's operated Acordionero field into the adjoining Fields before accelerating development through wellbore optimization and low-risk infill drilling. Completion of Phase 1 is achieved with a minimum of $15 million of gross capital expenditures and implementation of continuous water injection, which is currently anticipated to be achieved in the first quarter of 2027, subject to approval of the corresponding plans by the executive committee. Upon completion of Phase 1, Gran Tierra will receive 49 percent of existing base production in addition to 49 percent of incremental production. The Fields averaged approximately 2,500 boepd on a gross basis during 2025.

Gran Tierra expects the Tisquirama Contract to create meaningful operational synergies with Acordionero, including integrated water management, the potential implementation of gas-to-power projects utilizing natural gas production in the area, and the opportunity to manage the Fields as a single operating hub to improve efficiency and maximize long-term value.