SCHEDULE: LM Asset Entities Boost Gran Tierra Energy Stake

Daniel Lau, Christine Man, and associated LM Asset entities report significant beneficial ownership in Gran Tierra Energy Inc., with Daniel Lau holding 12.0%.

Summary

• Daniel Lau, Christine Man, LM Asset Management Inc., LM Asset Fund Limited Partnership, and LM Asset General Partner Ltd. have jointly filed an Amendment No. 4 to Schedule 13G regarding their beneficial ownership of Gran Tierra Energy Inc. Common Stock.
• Daniel Lau beneficially owns 4,236,200 shares, representing 12.0% of the class.
• Christine Man beneficially owns 4,061,750 shares, representing 11.5% of the class.
• LM Asset Management Inc. beneficially owns 3,851,200 shares, representing 10.9% of the class.
• LM Asset Fund Limited Partnership beneficially owns 2,754,200 shares, representing 7.8% of the class.
• LM Asset General Partner Ltd. beneficially owns 3,534,200 shares, representing 10.0% of the class.
• The percentages are calculated based on 35,295,753 shares of Common Stock outstanding on October 28, 2025, as reported in Gran Tierra Energy Inc.'s Form 10-Q for the quarter ended September 30, 2025.
• The reporting persons are filing jointly but disclaim membership in a group and beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The filing is a factual disclosure of beneficial ownership, providing no direct positive or negative sentiment regarding the issuer's performance or outlook.

Positives

• Significant beneficial ownership by individuals and associated investment entities may signal confidence in Gran Tierra Energy Inc.'s long-term prospects.
• The combined ownership of these entities represents a substantial stake, potentially indicating a committed investor base.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 14a-11.

Future Outlook

This filing is a disclosure of beneficial ownership and does not contain forward-looking statements or guidance regarding Gran Tierra Energy Inc.'s future performance.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

The energy sector, particularly oil and gas, often sees significant institutional investment. This filing indicates a substantial stake held by Canadian investment entities in Gran Tierra Energy Inc., an issuer in this sector.

Stakeholder Impact

• Shareholders may view the significant and stable ownership by these entities as a positive indicator of long-term commitment and confidence in the company.

Key Dates

Keywords

Gran Tierra Energy, GTE, Schedule 13G, beneficial ownership, institutional ownership, Daniel Lau, Christine Man, LM Asset Management, energy, oil and gas