Mr. Mike Kruchten reports

PAREX RESOURCES ANNOUNCES APPOINTMENT TO THE BOARD OF DIRECTORS

Parex Resources Inc. has appointed Alberto Consuegra to the board of directors.

Effective June 1, 2025, Mr. Consuegra has been appointed to the board as an independent director. Mr. Consuegra has more than 30 years of experience in the energy sector. Most recently, Mr. Consuegra served as the chief operating officer of Ecopetrol, Colombia's national oil company, and for a period of time acted as the company's interim chief executive officer. He has also served as the president of Cenit Transporte y Logistica de Hidrocarburos SAS, the vice-president of supply and services of Ecopetrol, and held several executive positions at Equion Energia Ltd. and BP Exploration.

Mr. Consuegra graduated from Universidad de Cartagena with a civil engineering degree and holds a master's degree in civil engineering from Texas A&M University.

"We are excited to welcome Alberto to our board of directors and believe his Colombia-focused energy expertise will contribute to the ongoing success of Parex," commented Wayne Foo, chair of Parex's board of directors.

About Parex Resources Inc.

Parex is one of the largest independent oil and gas companies in Colombia, focusing on sustainable conventional production. The company's corporate headquarters is in Calgary, Canada, with an operating office in Bogota, Colombia. Parex shares trade on the Toronto Stock Exchange under the symbol PXT.