Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 166

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 166
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icing model for the options issued include: (1) a discount rate of % based on the applicable US Treasury bill rate, (2) expected term of years, (3) expected volatility of % based on the trading history of the Company, and (4) zero expected dividends.

Additionally, on January 23, 2025, restricted stock awards were granted to officers and employees of the Company for an aggregate of shares of the Company’s restricted common stock, under the Company’s 2021 Plan. The grant for the shares of restricted common stock vest as follows: , contingent upon the recipient’s continued service with the Company. These shares have a total fair value of $ based on the market price on the grant date.

In addition, on January 23, 2025, after recommendation by the Compensation Committee of the Company’s Board of Directors, the Board of Directors of the Company, in connection with the Company’s annual compensation review, approved cash bonuses for .

In February 2025, the Company entered into a joint development agreement (“Agreement”) with a large, Denver, Colorado-based private equity-backed D-J Basin E&P Company with extensive operational experience (“Operator”), pursuant to which the parties agreed to jointly participate in the expansion and development of the Company’s Roth and Amber DSUs located in Weld County, Colorado, with the Operator paying to the Company $ million, the Company agreeing to amend the Company’s existing Roth and Amber DSUs to increase each to acres and transferring operatorship of the DSUs to the Operator, and the parties agreeing to jointly participate in the development of the Roth and Amber DSUs.

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<div align='center'>SUPPLEMENTAL INFORMATION ON OIL AND GAS PRODUCING ACTIVITIES

(UNAUDITED)</div>

The following disclosures for the Company are made in accordance with authoritative guidance regarding disclosures about oil and natural gas producing activities. Users of this information should be aware that the process of estimating quantities of “proved,” “proved developed,” and “proved undeveloped” crude oil, natural gas liquids and natural gas reserves is complex, requiring significant subjective decisions in the evaluation of all available geological, engineering and economic data for each reservoir. The data for a given reservoir may also change substantially over time as a result of numerous factors including, but not limited to, additional development activity, evolving production history and continual reassessment of the viability of production under varying economic conditions. Consequently, material revisions (upward or downward) to existing reserve estimates may occur from time to time. Although reasonable