Pampa Energia Sa · BCBA:PAMP
Pampa Energia Sa — Investor Presentation (January 2025)
33 slides from Pampa Energia Sa's investor presentation, January 2025
Slide 1: Investor Presentation January 2025
INVESTOR PRESENTATION JANUARY 2025
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 pot
Slide 3: Who We Are
WHO WE ARE
Slide 4: Pampa Energía: a story of constant value creation
Pampa Energía: a story of constant value creation ROBUST FREE CASH FLOW BALANCE POWER SHALE GAS SHALE OIL SHEET 5.5 GW Top-rated wells in High cash and Developing strategically Vaca Muerta, low debt, Rincón de Aranda, positioned for the producing achieving from a greenfield upcoming market 80kboepd
Slide 5: Pampa is an Argentine company exclusively dedicated to producing Argentine energy
Pampa is an Argentine company exclusively dedicated to producing Argentine energy Key milestones 2005 2007 2009 2016 Today Pampa Energía Full integration in Play in gas Acquisition of KEY PLAYER IN begins electricity upstream Petrobras Argentina THE ENERGY A listed company to After deploying Petrole
Slide 6: Founded almost 20 years ago, Pampa holds a unique and diversified energy portfolio
Founded almost 20 years ago, Pampa holds a unique and diversified energy portfolio Power generation Oil and gas #5 gas producer 15% 1 9% 3 87 kboepd2 #1 IPP, operating 17 plants 94% gas and 5.5 GW Participation in 8% of Vaca Muerta’s acreage Power transmission Petrochemicals Midstream 6 60% 5 86% 4
Slide 7: Pampa's key financial figures at a glance
Pampa’s key financial figures at a glance In US$ million Revenues1,2 Adjusted EBITDA1,2 Exports 2,254 US$-link 2,50 0 2,041 2,160 30 % 84% 1,955 899 908 US$-link 369 308 25% 868 254 786 82% 2,000 Affil.396 Affiliates 16% 15% 20% 170 176 12% 13% 226 127 1, 500 15% 1, 000 10 % RG 738 691 RG 1,787 1,85
Slide 8: Strong balance sheet & comfortable debt profile
Strong balance sheet & comfortable debt profile The lowest net debt since 2016 Key leverage figures1 as of January 2025, in US$ million Evolution of net debt-to-EBITDA Consolidated with Parent Company 2.6x affiliates at O/S 2.4x 2.2x 2 Debt 1,259 1,532 Cash & equiv. 720 933 1.6x 1.3x 1.2x Net debt 5
Slide 9: Oil & Gas Exploration & Production
OIL & GAS EXPLORATION & PRODUCTION
Slide 10: Pampa is a leading independent O&G producer in Argentina
Pampa is a leading independent O&G producer in Argentina #3 unconventional gas producer1 9% of the country’s gas output1 Sierra Chata Production Natural gas Crude oil 214k acres Rincón de 87 kboepd2 13.9 mcmpd 5.4 kbpd Aranda 59k acres P1 reserves @ December 2023: 199 million boe Río Neuquén 98k acr
Slide 11: Rincón de Aranda: Unlocking shale oil value at Pampa
Rincón de Aranda Unlocking shale oil value at Pampa Rincón Promising results in our first tied-in well de Aranda Peak IP monthly oil Wells drilled in nearby blocks 59k 100% P90 90% shale acres 80% 286 70% RdA-2001 estimated 60% wells inventory P50 50% 400m 40% 30% estimated bbls of potential 20% res
Slide 12: Rincón de Aranda: The roadmap for production ramp-up
Rincón de Aranda The roadmap for production ramp-up Location of pads Estimated oil production, in kbpd Ongoing pipeline expansions FACTORY MODE VACA MUERTA OIL SUR 45 Duplicar - 40 COD Q2 25 Secured 8 + 12 kbpd DUPLICAR for 2025-26 20 SUEZMAX Vaca Muerta Oil Sur 1 50 kbpd VLCC Dec-24 Dec-25 Dec-26 D
Slide 13: Steady business at gas upstream
Steady business at gas upstream US$ LT contracts with ToP, low maintenance capex Destination of gas production, Pampa’s natural gas production, in mcmpd ATH Jun-24 LTM Sep-24 +136% 16.8 Large users 14% 15 Exports 5% 10 Sierra 12 Chata Thermal mcmpd Distcos 5 El Mangrullo power 28% 52% Non-operated P
Slide 14: Shifting gas production towards shale
Shifting gas production towards shale Supported by the outstanding productivity in our wells Shale vs conventional, in mcmpd Average production per horizontal well, in kcmpd 600 0 5 10 15 Jan-23 Shale 10% 400 SIERRA CHATA Mar-23 18 wells EL MANGRULLO May-23 Fortín de Piedra 17 wells 200 105 wells Ju
Slide 15: Gas prices are mostly under long-term GSAs, but highly seasonal
Gas prices are mostly under long-term GSAs, but highly seasonal Destination of our sales, LTM Q3 24 Natural gas prices, as of Sep-24 in US$ per MBTU1 Argentina CAMMESA Foreign trade Retail 30% Expo 5% Industries 37% 28% 2024 18.4 Diesel oil Interco 3% 2024 28% 5% 11% 52% LNG 13.6 Pampa Bolivia 22.4
Slide 16: Power Generation
POWER GENERATION
Slide 17: We are a leading independent power producer in Argentina
We are a leading independent power producer in Argentina Operating 17 power plants Argentina’s power generation across the country1 market share2 3 hydro, 938 MW CEPU 15% 5 wind farms, 427 MW Pampa 15% Gov't 9 thermal, 4,107 MW3 owned 144 YPF 4 CCGTs, 2,656 MW3 27% TWh 9% AES ENEL 5% 2% TOTAL CAPACI
Slide 18: Power generation: stable cash flow & outperforming KPIs
Power generation: stable cash flow & outperforming KPIs CAMMESA and B2B PPAs with +7 years average maturity1 Capacity vs EBITDA, as of September 30, 20242 Our thermal availability outnumbers peers 5.5 GW US$384m Pampa's thermal capacity Thermal grid without Pampa New/PPAs US$-link New capacity 1 97%
Slide 19: Growing our green energy contribution
Growing our green energy contribution PEPE 6 is fully commissioning soon Progress to date: 99% 31/31 windmills online Vestas wind turbines x 4.5 MW each Full COD by Q4 24 Investment forecasted at US$245 million 19
Slide 20: Utilities: TGS & Transener
4 UTILITIES. TGS & TRANSENER
Slide 21: TGS is the Argentine gas backbone
TGS is the Argentine gas backbone Business overview Natural gas transportation • #1 pipeline company in Argentina and LatAm 85 mcmpd Pipeline capacity • Transports +60% of the country’s demand • Concession until 2027, 20-year extension requested 9,248 km Pipeline length • 791% tariff increase in 202
Slide 22: Transener operates the largest high voltage grid in Argentina
Transener operates the largest high voltage grid in Argentina Business overview Transener Transba O&M Concession Concession Total until 2088 until 2092 HV lines 15,408 6,988 22,396 Stations 60 113 173 86% of market share • 259% tariff increase in 2024, 4% YTD Jan-25 • Currently under 5Y comprehensiv
Slide 23: Bottom Line
BOTTOM LINE
Slide 24: Pampa Energía: upsides and opportunities
Pampa Energía: upsides and opportunities Oil & gas upstream Power generation Capital discipline Strong balance sheet Development of our Relevant player with Capital spending within Comfortable debt reserves by exploiting expansions in the cash flow generation maturity profile and our acreage in the
Slide 25: Contact Information
CONTACT INFORMATION GUSTAVO MARIANI ADOLFO ZUBERBÜHLER THE PAMPA ENERGÍA ri.pampa.com/en CEO CFO BUILDING investor@pampa.com Maipú 1, C1084ABA, LIDA WANG Buenos Aires Argentina IR & sustainability officer +54 (11) 4344 6000
Slide 26: Back Up
BACK UP
Slide 27: We are one of the country's largest employers
We are one of the country’s largest employers Besides the parent company, Pampa concentrates the businesses Salta the Group concentrates of power generation, E&P and 5% important subsidiaries such as petrochemicals Transener and TGS 2,019 direct employees at Pampa 4,826 direct employees and operated
Slide 28: Pampa is the benchmark in terms of sustainability
Pampa is the benchmark in terms of sustainability Corporate governance We are members of the sustainability index and the corporate governance plus panel, as well as the Bloomberg’s gender- equality stock index +50% of the capital stock is free float1, only one type of share Board of directors2: 4/1
Slide 29: Q3 2024's key takeaways
Q3 2024’s key takeaways Consolidated figures, in US$ million Main highlights Consolidated adjusted EBITDA1 EBITDA margin Strong growth of our gas production 13.9 mcmpd 8% yoy +14% yoy 288 279 350 10 0% 56% shale vs. 43% in Q3 23 -3% qoq 244 90% 30 0 80% 250 Plan Gas Outperformance in power ge
Slide 30: Q3 24 financial position
Q3 24 financial position Improved DSO & lower CAPEX positively impacted on FCF Key cash flow figures for the Restricted Group, US$ million Q3 24 FCF = US$80 million +US$222m yoy +US$169m yoy, +US$139m qoq +US$272m qoq 168 24 1,186 212 914 (74) (24) (34) 1 Cash 2 EBITDA 3 CapEx 4 WK 5 Debt service Ne
Slide 31: Oil and gas
Oil and gas Strong Plan Gas deliveries vs. soft exports and B2B demand Adjusted EBITDA, in US$ million Lifting cost, in US$ million EBITDA margin Per boe 132 122 -8% yoy 48 121 200% similar qoq 140 44 50 11.5 180% 42 120 10 .5 160% 45 10 0 140% Gas exports 9.5 Per boe +6% yoy 40 80 120% Industri
Slide 32: Power generation
Power generation Outstanding operating KPIs & raise in spot prices boosted Q3 Adjusted EBITDA1, in US$ million Generation performance, in GWh EBITDA margin +23% yoy 106 112 +5% qoq +19% yoy 5,951 120.0 +17% qoq 91 7,000 150% 10 0.0 130% Load factor & 6,000 4,985 5,067 6% 9% Thermal & fuel availabi
Slide 33: Petrochemicals
Petrochemicals A tough quarter, saved by reforming and exports Adj. EBITDA, in US$ million Sales performance, in thousand ton EBITDA margin Avg Price in 1,285 1,205 1,092 US$ per ton 16 15 128 18 50% +25% yoy 111 45% 16 +15% qoq 102 140 40% -88% yoy 14 120 35% 12 -87% qoq 30 % 10 0 Octanes 74% 10 R