FRONTERA ANNOUNCES FIRST QUARTER 2026 RESULTS

Shareholders Approve Arrangement with Parex to divest Frontera's E&P Assets for $750 Million in Enterprise Value and up to $470 million Return of Capital to Shareholders Recorded Net Income for the Period from Continuing Operations of $13.1 Million Recorded Adjusted EBITDA for Q1 2026 of $28.5 Million Frontera Positioned as a Standalone Infrastructure Company Expected Post Closing Cash Balance of Approximately $50 Million ODL Declared $185 Million in Dividends ($64.7 million, Net to Frontera) Q1 2026 Average Production from Discontinued Operation of 36,700 boepd CALGARY, AB, May 15, 2026 /PRNewswire/ - Frontera Energy Corporation (TSX: FEC) (OTCQX: FECCF) ("Frontera" or the "Company") today reported financial and operational results for the first quarter ended March 31, 2026. All financial amounts in this news release and in the Company's financial disclosures are in United States dollars, unless otherwise stated.