Exhibit 99.2 MANAGEMENT'S DISCUSSION & ANALYSIS For the three and six month periods ended June 30, 2025 Greenfire Resources Ltd. MANAGEMENT'S DISCUSSION AND ANALYSIS This Management's Discussion and Analysis ("MD&A") of the financial condition and results of operations of Greenfire Resources Ltd. ("Greenfire" or the "Company") is dated August 6, 2025, which is the date this MD&A was approved by the Board of Directors of the Company (the "Board of Directors"), and should be read in conjunction with the Compa ...