Transparent Disclosure for Informed Stakeholders
Parex remains committed to taking actions that reduce our impact on the environment and continues to undertake activities in communities near our operations in support of this goal.
In June 2024, the Canadian Government amended the Competition Act to introduce new provisions related to environmental claims, with final guidance issued by the Competition Bureau in June 2025. Further amendments in 2026 removed the requirement for businesses to use an “internationally recognized methodology” when substantiating certain claims.
While these changes provide greater clarity, environmental claims must still be adequately and properly substantiated. As a result, Parex continues to limit public access to certain environmental communications while we ensure our disclosures meet these requirements.
2025 GHG Emissions Results and Selected ESG Results
For the 2025 sustainability report, PricewaterhouseCoopers LLP – Canada (PwC) provided the following:
Reasonable assurance of selected 2025 GHG Emissions results – engagement in accordance with the Canadian Standard on Assurance Engagements (CSAE) 3410, Assurance Engagements on GHG Statements issued by the Auditing and Assurance Standards Board (CSAE 3410)
Limited assurance of selected 2025 results – engagement in accordance with the Canadian Standard on Assurance Engagements (CSAE) 3000, Attestation Engagements Other than Audits or Reviews of Historical Financial Information (CSAE 3000) and Canadian Standard on Assurance Engagements (CSAE) 3410, Assurance Engagements on Greenhouse Gas Statements issued by the Auditing and Assurance Standards Board (CSAE 3410).
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Ms. Bernard joined Parex in 2021 and is currently the Senior Vice President, New Ventures, leading a cross-functional team to identify and evaluate new business opportunities within and outside of Latin America. With over 29 years of industry experience, Ms. Bernard has built an extensive background in negotiating and managing upstream commercial agreements and contracts for E&P companies, including accountabilities for all relevant new business development, new ventures and commercial issues with partners, governments, and competitors.
Prior to joining Parex in 2021, Ms. Bernard held roles of increasing responsibility with Shell International Exploration & Production, where she contributed to both new business development and the communication of the overall strategic direction for RDS Group and its Upstream International business to the external community. She has also held roles with several international companies including CEPSA, Moore Stephens, and Amec.
Ms. Bernard holds a Masters of Science in Economics and a Bachelor of Arts Honors degree in Geography from the University College of London. In addition, Ms. Bernard holds a Non-Executive Director Diploma having completed the Pearson SRF BTEC Board Director Program.
