Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q1 2026 Earnings Presentation

10 slides from Pampa Energia Sa's earnings presentation, May 7, 2026

  1. Slide 1: Q1 2026 Results Call

    Q1 2026 RESULTS CALL May 7, 2026 @ 10:00 AM EST/11:00 AM ART

  2. Slide 2: Disclaimer

    DISCLAIMER The material that follows is a presentation of general background information about Pampa Energía S.A.(“Pampa” or the “Company”) as of the date of the presentation . It is information in summary form and does not purport to be complete . It is not intended to be relied upon as advice to p

  3. Slide 3: Q1 2026's Key Takeaways

    Q1 2026’S KEY TAKEAWAYS CONSOLIDATED FIGURES, IN US$ MILLION Main highlights Consolidated adjusted EBITDA1 EBITDA margin O&G ATH quarterly production @ 100.6 kbpd, +48% yoy +38% yoy, +24% qoq 350 325 100% +41% qoq 90% 230 300 ✓ Rincón de Aranda Rincón de Aranda surpassed 220 80% ✓ Spot 250 70% the 2

  4. Slide 4: Oil and Gas: Quarter Boosted by RDA and Gas Self-Procurement

    OIL AND GAS QUARTER BOOSTED BY RDA AND GAS SELF-PROCUREMENT Adjusted EBITDA, in US$ million Lifting cost, in US$ million EBITDA margin +155% yoy Production 120 104 200% +36% qoq 59 56 65 11.5 180% 77 100 ✓Rincón de Aranda 60 160% 10.5 55 ✓Gas output 45 140% 8.0 80 Per boe 9.5 50 120%  Oil price 41

  5. Slide 5: Rincón de Aranda Improving Efficiency Towards Plateau

    RINCÓN DE ARANDA IMPROVING EFFICIENCY TOWARDS PLATEAU 2 high-spec rigs Oil production, in kbpd VMOS + CPF 45 1 frac fleet 45 TPF#2 11 pads tied-in 43 wells online 2 DUC 28 2 being drilled 30 25 Building infra + CPF 20 Applied for Upstream RIGI 15 on March 9, 2026 +US$1.5bn capex 1 0 until 45kbpd pla

  6. Slide 6: Gas: Monetizing the Vertical Integration

    GAS MONETAZING THE VERTICAL INTEGRATION Gas production, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU 4.4 5.0 +17% yoy 13.8 +28% qoq 4.0 16.0 11.8 10.7 4.5 14.0 ✓Self - supply 4.0 12.0 ✓Exports 3.0 10.0 3.0 3.5 ✓Industries 8.0 6.0  Plan Gas GSA 3.0 2025 = 3.7 2.9 2026 = 2.9 4.0 2.5 Winter

  7. Slide 7: Power Generation: The New Spot Framework Boosted the Segment

    POWER GENERATION THE NEW SPOT FRAMEWORK BOOSTED THE SEGMENT Adjusted EBITDA1, in US$ million Generation performance, in GWh EBITDA margin +11% yoy 144 +30% qoq 5,951 -4% yoy 130 160 5,738 7,000 150% 111 +16% qoq 4,947 140 Wind 7% 8% ✓Spot 6,000 130% Hydro 8% 120 110% 5,000 6% Hydros 100 10% 7% Out

  8. Slide 8: Q1 Negative FCF Mainly Due to Brent Coverage Amid Development of Rincón de Aranda

    Q1 26 NEGATIVE FCF MAINLY DUE TO BRENT COVERAGE AMID DEVELOPMENT OF RINCÓN DE ARANDA Key cash flow figures for the Parent Company, in US$ million Q1 26 FCF = US$(402) million -US$283m yoy, -US$383m qoq Collaterals 228 2025 capex payments Higher DSO 1,091 -US$437m yoy -US$414m qoq (265) RdA 11 677 (3

  9. Slide 9: Solid Balance Sheet to Support More Growth

    SOLID BALANCE SHEET TO SUPPORT MORE GROWTH Key leverage figures1 as of March 2026, in US$ million Leverage evolution Consolidated with Net leverage Parent Company affiliates at O/S3 Gross leverage 3.0x Debt 2 1,880 2,262 2.6x 2.1x 2.2x 2.3x Cash & equiv. 677 1,078 Net debt 1,203 1,185 1.3x 1.5x LTM

  10. Slide 10: Thank You Q&A

    THANK YOU Q&A

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