Esentia Energy Development SAB de CV Series -II- Unitary · BMV:ESENTIA/II
Esentia Energy Development SAB de CV Series -II- Unitary — Esentia Energy Development, S.A.B. de C.V. — FY2025 Earnings Presentation
19 slides from Esentia Energy Development SAB de CV Series -II- Unitary's earnings presentation, Feb 23, 2026
Slide 1: 4Q25 and Full-Year 2025 Earnings Presentation
4Q25 and Full-Year 2025 Earnings Presentation February 2026 Esentia Powering Mexico’s Growth with U.S. Natural Gas
Slide 2: Disclaimer
Disclaimer This confidential Presentation has been prepared by Esentia Energy Development, S.A.B. de C.V. (together with its subsidiaries, “Esentia”). The information contained in this Presentation is provided as of the date of this Presentation and is subject to change without notice. This Presenta
Slide 3: Today's Presenters
Today’s Presenters Daniel Bustos Stephen Griffiths Chief Executive Officer Chief Financial Officer ▪ 29 years of experience in ▪ >29 years of financial and private development and commercial roles equity experience ▪ Previously CCO of Esentia, CCO of ▪ Previous CFO of various companies Excelerate En
Slide 4: Esentia is a midstream company critical to secure Mexico's access to competitive U.S. natural gas
Esentia is a midstream company critical to secure Mexico’s access to competitive U.S. natural gas Key Facts & Numbers Key player in Mexico’s Natural Gas Transportation Infrastructure Main transporter for power generation and industrial growth in the Central- ~2,000 km West region of the country The
Slide 5: Esentia provides Mexico the most competitive access to US natural gas from the Permian Basin
Esentia provides Mexico the most competitive access to US natural gas from the Permian Basin Key Assets & Geographic Location Assets Overview Incremental Capacity Physical Years in Today Capacity 1 Assets Km Service (MMcf/d) (MMcf/d) 1 Roadrunner (RR)3 321 9 640 - Expansion 2 Tarahumara Project 2 38
Slide 6: An extension of U.S. midstream into Mexico – strategic, cost-effective and unfeasible to replicate
An extension of U.S. midstream into Mexico – strategic, cost-effective and unfeasible to replicate Delivery Routes to LLAGS and VAG Areas 1 ✓Strategic Position: Critical pipeline to Cheapest source transport U.S. Waha gas to key markets Cd. Juarez 1 of gas Esentia ✓Unique Market Access: Only player
Slide 7: The Permian Basin produces the lowest-cost gas available for Mexico
The Permian Basin produces the lowest-cost gas available for Mexico, and Esentia Gas has a structural advantage to bring it to its customers Gas Price Comparison of Main Natural 2026 Illustrative Transportation Costs to the Gas U.S.- Mexico Import Hubs 1 Guadalajara Region (US$/MMBtu) Waha gas trade
Slide 8: Solid base business with U.S.-denominated long-life contract profile
Solid base business with U.S. - denominated long-life contract profile fund growth and returns Capacity Sales Natural Gas Sales (Esentia Gas) Main clients: Primarily investment-grade Main Esentia Gas clients: Low credit risk clients with counterparties, including CFE (81%) and Esentia Gas strong pos
Slide 9: Esentia's Modern Systems Enable Low-Cost, Mitigated, Phased Expansion
Esentia’s Modern Systems Enable Low-Cost, Mitigated, Phased Expansion With Strong Optimization Potential Esentia’s expansion plan has been designed prioritizing flexibility, low cost, and low execution risk. This attributes are critical to capture a diversified, high value portfolio of private custo
Slide 10: Mexico's Energy Sector Outlook supports Esentia's growth story
Mexico’s Energy Sector Outlook supports Esentia’s growth story Government focus on energy… … better outlook for Esentia’s business plan Energy regulations Lower risk for system development • Clearer parameters for private roles • Predictable long-term infrastructure participation development • Publi
Slide 11: Esentia follows a long-term growth plan which focuses on volume expansion as a first step
Esentia follows a long-term growth plan which focuses on volume expansion as a first step Incremental Volumes of Key Initiatives (MMcf/d1) Full expansion project will Current Priorities allow us to reach ~850 (1 - 2 yrs) MMcf/d in Gas Sales • Finalize Expansion Phase I • Final Investment Decision Ph
Slide 12: Identified market demand of ~6 Bcf/d, highlighting substantial untapped potential
Identified market demand of ~6 Bcf/d, highlighting substantial untapped potential for future growth Incremental Volumes of Key Initiatives (MMcf/d) Long-term Priorities (>5 yrs) • Esentia Power: – Integrated gas-to-power solutions Investments in behind-the- targeting underserved mid-range Focus on m
Slide 13: A unique infrastructure play at the heart of the North American midstream sector
A unique infrastructure play at the heart of the North American midstream sector Strategic Resilient Growth Structural Trading at ~50% system Cash Flows upside advantaged replacement value Irreplaceable 93% of Expansion of Enables 8.8x EV1/2026 and only direct recurring pipeline by industrial Adjust
Slide 14: Strong 2025 results, enhanced gas sales and Expansion Plan in execution
Strong 2025 results, enhanced gas sales and Expansion Plan in execution. Adjusted EBITDA Gas Sales Gas sale individual Expansion Increase growth contribution In full execution margin 4Q 2024 vs Q4 2025 4Q 2024 vs Q4 2025 4Q 2024 vs Q4 2025 6% 21% 33% FID FY 2024 vs FY 2025 FY 2024 vs FY 2025 FY 2024
Slide 15: Financial Summary
Financial Summary Esentia’s Key Financial Highlights | US$mm • US$mm 4Q 2024 4Q 2025 2023 2024 2025 Adjusted Revenue1 $101 $112 $401 $403 $435 % Growth 11% -2% 1% 8% Adjusted OPEX (excl. non-recurring items) $31 $31 $59 $55 $65 Income Statement % Growth -1% n.a. -7% 18% Data Adjusted EBITDA1 $74 $79
Slide 16: Financial Summary
Financial Summary Esentia’s Key Financial Highlights | US$mm • US$mm FY2024 vs FY2025 Key Comments +8% • Adjusted Revenues +8% YoY, primarily driven by: 403 435 67 • Stronger performance in Sales of Natural Gas – Net 71 50 76 (Esentia Gas), driven by (i) higher capacity sales and (ii) Adjusted impro
Slide 17: Gas sales performance
Gas sales performance Key Financial Highlights | US$mm • US$mm 4Q24 vs 4Q25 FY2024 vs FY2025 +21% +15% 181,089 170,239 150,042 147,698 Gas Sales Volumes (MMbtu/d) 4Q24 4Q25 2024 2025 +33% +22% 0.986 0.899 0.744 0.735 Illustrative contribution margin1 - Esentia Gas (USD/MMbtu) 4Q24 4Q25 2024 2025 ¹ C
Slide 18: Financial Reconciliation
Financial Reconciliation US$mm US$mm 4Q24 4Q25 2023 2024 2025 Net income (IFRS) $4.5 $17.5 $94.5 $19.4 $72.9 (+) Income tax expense (IFRS) $7.0 $(6.3) $38.3 $51.1 $24.6 (+) Net financing cost (IFRS) $43.1 $34.1 $102.8 $165.2 $141.7 Adjusted (+) Depreciation and amortization (IFRS) $14.8 $16.9 $59.4
Slide 19: ESENTIA
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