Pampa Energia Sa · BCBA:PAMP

Pampa Energia Sa — Q1 2024 Earnings Presentation

14 slides from Pampa Energia Sa's earnings presentation, March 2024

  1. Slide 1: Q1 2024 results videoconference

    Q1 2024 results videoconference

  2. Slide 2: Disclaimer

    Disclaimer The material that follows is a presentation of general background information about Pampa Energia 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

  3. Slide 3: Q1 2024's key takeaways - consolidated figures

    Q1 2024’s key takeaways - consolidated figures, in US$ million Q1 24’s main highlights Consolidated adjusted EBITDA1,2 ✓ Domestic gas demand recovery -8% yoy • 206 189 +70% qoq •  • 112   Increased and prolonged delays in CAMMESA’s  payments 39% 38% • 32% ✓ ✓ • Q1 24 Capex1 Consolidated adjusted

  4. Slide 4: Power generation: gas-fired generation was the highlight of the quarter

    Power generation Gas-fired generation was the highlight of the quarter Adjusted EBITDA1, in US$ million Generation performance, in GWh 108 -22% yoy 5.760 +3% yoy +10% qoq 5.928 +18% qoq 77 85 5.017  ✓  ✓ 59% 49% 50%  ✓ ✓  ✓  ✓  Q1 24 Q1 24 Availability performance, in % to installed capacity ✓

  5. Slide 5: Growing our green energy contribution: PEPE VI in last stages

    Growing our green energy contribution PEPE VI is entering to the project’s last stages PEPE VI 89% - 8/31 windmills installed 31 Vestas wind turbines x 4.5 MW each 140 MW gradual COD between July and October 20241 US$258 million Pampa Energía ⚫ 5

  6. Slide 6: PEPE VI installation status

    Growing our green energy contribution PEPE VI is entering to the project’s last stages Installation status Pampa Energía ⚫ 6

  7. Slide 7: Oil and gas: gas deliveries performing as expected

    Oil and gas After a soft Q4, gas deliveries are performing as expected In mcmpd Domestic production 12,6 12,6 12,6 12,6 12,6 12,6 12,6 Gas exports 1,5 1,5 1,5 1,5 1,5 1,5 1,5 Pampa Energía ⚫ 7 Note: During off-peak season, committed production is reduced by export commitments.

  8. Slide 8: Oil and gas: recovery of local gas demand offset lower exports

    Oil and gas Recovery of local gas demand offset lower exports Adjusted EBITDA, in US$ million Lifting cost, in US$ million +14% yoy 70 +40% qoq Per boe 62 38 38 -19% yoy 50 ✓ 37 -22% qoq ✓  7,1 7,4 ✓ 39% 40% 45%  5,8 ✓  Q1 24 Q1 24 Production performance, in kboe/d Crude oil production, in kbbl/d

  9. Slide 9: Oil and gas: increased gas production unlocked by new pipeline

    Oil and gas Increased gas production unlocked by new gas pipeline Gas production, in mcmpd Weighted avg gas price for Pampa, in US$/MBTU 4,7 4,7 +31% yoy 11,7 +32% qoq 4,0 8,9 8,8 ✓ ✓ 3,2 2023 = 4.2 ✓ 3,2 2024 Q1 24 Q1 Destination of our sales in Q1 Pampa Pampa Energía ⚫ 9

  10. Slide 10: Petrochemicals: reforming led the quarter

    Petrochemicals Reforming led the quarter Adj. EBITDA, in US$ million Sales performance, in thousand ton 1,098 20 +58% yoy 103 110 +7% yoy -45% qoq 94 +17% qoq ✓ 11 ✓ 7 17% ✓ ✓ 9% ✓ ✓ 6%    Q1 24 Q1 24 Q1 24 sales volume breakdown by market 46% % 54% Pampa Energía ⚫ 10

  11. Slide 11: Q1 financial position: CAMMESA delays impact on working capital

    Q1 24 financial position CAMMESA delays impact on WK Key cash flow figures for the Restricted Group, US$ million Q1 24 FCF = -US$187 million -US$82m yoy, -US$81m qoq +US$77m yoy CAMMESA’s 17m haircut on Jan-24 +US$11m qoq 45m from OCP’s CAMMESA’s dividends DSO increase Pampa Energía ⚫ 11

  12. Slide 12: Evolution of collection days from CAMMESA, in days

    Evolution of collection days from CAMMESA, in days 130 Outstanding Dec-23, Jan-24 & Feb-24 122 US$163 million before haircut 110 100 100 97 90 80 79 73 72 70 66 55 50 42 42 30 ene-13 ene-14 ene-15 ene-16 ene-17 ene-18 ene-19 ene-20 ene-21 ene-22 ene-23 Pampa Energía ⚫ 12

  13. Slide 13: Strong balance sheet

    Strong balance sheet Key leverage figures, as of March 31, 20241, US$ million Consolidated with Parent Company Affiliates at O/S3 affiliates at O/S 2 1,563 277 1,840 Q1 2024: Debt • Cash 845 165 1,010 • Net debt 718 112 830 • LTM Adj. EBITDA 652 133 785 After Q1 24 Gross leverage 2.4x 2.1x 2.3x • Ne

  14. Slide 14: pampaenergia.com

    pampaenergia.com - (in) (Ff) © PamMpaeneraia

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