REG-Gran Tierra Energy Inc. Announces New $200 Million Prepayment and Marketing Agreement and Amendment to Reserve-Based Credit Facility

Gran Tierra EnergyAnnouncement

24/10/2025 12:30

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CALGARY, Alberta, Oct. 24, 2025 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc.
(“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE)
today announced that it has, through its wholly owned subsidiary Gran Tierra
Energy Colombia GmbH, a Swiss limited liability company (the “Seller”),
entered into a crude oil sale and purchase agreement and a related prepayment
addendum (together, the “Oriente Crude Oil Agreements”).

Under the Oriente Crude Oil Agreements, the Seller will receive an initial
advance in an aggregate amount not to exceed $150 million and may receive an
additional advance of up to $50 million, subject to certain conditions. These
advances will be satisfied by scheduled deliveries of the Seller’s
Ecuadorian Oriente crude oil production. Proceeds from these prepayments are
to strengthen the Company’s balance sheet and enhance financial flexibility.

In connection with the execution of the Oriente Crude Oil Agreements, Gran
Tierra has further optimized its capital structure by amending its Colombian
credit facility (the “Amendment”). The Amendment, among other things,
consents to and permits the Seller and the Company to execute and perform the
Oriente Crude Oil Agreements, reduces the borrowing base under the Credit
Agreement from its then-current amount of $75 million to $60 million and
adjusts certain financial covenants to account for the prepayment structure.

Ryan Ellson, Chief Financial Officer of Gran Tierra, commented today:

“The prepayment agreement we signed today enhances Gran Tierra’s financial
flexibility and further strengthens our capital structure. Securing this
agreement in this current market environment demonstrates the strong
confidence our partners have in Gran Tierra’s operations and underscores our
position as a premier operator in Ecuador and a reputable international
producer. We remain fully committed to maintaining financial discipline and
generating sustainable free cash flow through low decline and high netback
production along with prudent capital allocation.”

Cautionary Statement Regarding Forward-Looking Statements

This press release contains statements about future events that constitute
forward-looking statements within the meaning of the United States Private
Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, and financial outlook and forward looking information within the
meaning of applicable Canadian securities laws (collectively,
“forward-looking statements”). All statements other than statements of
historical facts included in this press release, including those statements
preceded by, followed by or that otherwise include the words “expect,”
“anticipate,” “plan,” “can,” “will,” “should,” and
“believes,” derivations thereof and similar terms identify forward-looking
statements. The forward-looking statements contained in this press release
reflect several material factors and expectations and assumptions of Gran
Tierra including, without limitation, that Gran Tierra will continue to
conduct its operations in a manner consistent with its current expectations,
pricing and cost estimates (including with respect to commodity pricing and
exchange rates), the general continuance of assumed operational, regulatory
and industry conditions in Ecuador, and the ability of Gran Tierra to execute
its business and operational plans in the manner currently planned.

Among the important factors that could cause our actual results to differ
materially from the forward-looking statements in this press release include,
but are not limited to the impact and benefits of the Amendment and the
Oriente Crude Oil Agreements; the Company’s cash flows and liquidity; and
those factors detailed from time to time in Gran Tierra’s periodic reports
filed with the Securities and Exchange Commission, including, without
limitation, under the caption “Risk Factors” in Gran Tierra’s Annual
Report on Form 10-K for the year ended December 31, 2024 filed February 24,
2025 and its other filings with the SEC. These filings are available on the
SEC website at http://www.sec.gov and on SEDAR+ at www.sedarplus.ca. All
forward-looking statements are made as of the date of this press release and
the fact that this press release remains available does not constitute a
representation by Gran Tierra that Gran Tierra believes these forward-looking
statements continue to be true as of any subsequent date. Gran Tierra
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, except as expressly required by applicable law.

ABOUT GRAN TIERRA ENERGY INC.

Gran Tierra Energy Inc., together with its subsidiaries, is an independent
international energy company currently focused on oil and natural gas
exploration and production in Canada, Colombia and Ecuador. The Company is
currently developing its existing portfolio of assets in Canada, Colombia and
Ecuador and will continue to pursue additional new growth opportunities that
would further strengthen the Company’s portfolio. The Company’s common
stock trades on the NYSE American, the Toronto Stock Exchange and the London
Stock Exchange under the ticker symbol GTE. Additional information concerning
Gran Tierra is available at www.grantierra.com. Except to the extent expressly
stated otherwise, information on the Company’s website or accessible from
our website or any other website is not incorporated by reference into and
should not be considered part of this press release. Investor inquiries may be
directed to info@grantierra.com or (403) 265-3221.

Gran Tierra’s filings with the U.S. Securities and Exchange Commission (the
“SEC”) are available on the SEC website at http://www.sec.gov. The
Company’s Canadian securities regulatory filings are available on SEDAR+ at
http://www.sedarplus.ca and UK regulatory filings are available on the
National Storage Mechanism website at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Information on the Company’s website does not constitute a part of this
press release.

For investor and media inquiries please contact:

Gary Guidry
President & Chief Executive Officer

Ryan Ellson
Executive Vice President & Chief Financial Officer

+1-403-265-3221
info@grantierra.com